Increasing prevalence of different diseases is expected to drive Global Stethoscope Market in the forecast period, 2023-2027.
According to TechSci Research report, “Stethoscope Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027”, the global stethoscope market is anticipated to grow at a steady rate in the forecast period, 2023-2027. This can be ascribed to the growing adoption of digital stethoscopes. Digital stethoscopes not just allow for sound amplification that leads to better diagnosis but also transfers recorded data to computer systems which can further be used to make a bigger picture of the apparent disease process. Besides, flourishing healthcare industry along with innovations in healthcare industry which aid in better diagnosis and treatment is expected to drive the market growth through 2027.
Besides, sudden outbreak and spread of pandemic COVID-19 has increased the demand for stethoscopes. COVID-19 is a respiratory illness, listening to the lungs and heart attains paramount importance in any clinical setting.
However, high cost of modern stethoscope and unavailability of skilled medical workers who can use them may hamper the global stethoscope market in the forecast period.
Browse over XX market data Figures spread through 110 Pages and an in-depth TOC on “Stethoscope Market“
The global stethoscope market can be segmented by type, by distribution channel, by end user and by region.
Based on Distribution Channel, the global stethoscope market can be segmented into Direct Sales, Distributors/Suppliers, online. The distributors/suppliers segment dominated the market in 2021 on account of availability of wide range of products with distributors. Also, healthcare service providers such as hospitals & clinics, ambulatory care centers, etc. have long-term contracts and tie-ups with distributors & manufacturers. While the online segment is expected to register the highest growth in the forecast period. The increasing easy availability of different stethoscope in online and e-commerce site is expected to support segmental growth.
Based on end user, the global stethoscope market can be segmented into hospital & clinics, ambulatory care centers, and others. The hospital & clinics segment is dominated the market in 2022 and will maintain its dominance throughout the forecast period. This can be attributed to the growing number of patient admissions and outpatient visits in these facilities suffering from various diseases and injuries.
Major companies operating in global stethoscope market are:
- 3M Company
- Heine Optotechnik GmbH & Co. KG.
- Hill-Rom Holdings, Inc.
- Medline Industries Inc
- Eko Devices Inc.
- GF Health Products, Inc.
- Rudolf Riester GmbH (Halma Plc)
- American Diagnostics Corporation
- Contec Medical Systems Co., Ltd.
- Think Labs Medical LLC
Companies operating in the market are following strategies such as mergers & acquisitions, new product launches, collaborations, etc. in order to stay competitive and have an edge over other players operating in the industry. For instance, in March 2021, Eko Devices, Inc. launched a new educational mobile app called Eko Academy for medical students and healthcare providers to strengthen their stethoscope skills and auscultation knowledge from home during the COVID-19 pandemic.
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“North America is expected to dominate in the global stethoscope market during the forecast period on account due to the increasing prevalence of chronic diseases like cardiovascular diseases and respiratory disorder in the region. Besides, increasing healthcare expenditure and flourishing healthcare industry in the region is further expected to support the market growth in the region” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Stethoscope Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented By Type (Electronic/Digital, Smart, Traditional Acoustic, Others), By Distribution Channel (Direct Sales, Distributors/Suppliers, Online), By End User (Hospital & Clinics, Ambulatory Care Centers, Others) and By Region”, has evaluated the future growth potential of global stethoscope market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global stethoscope market.
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