Global Electronic Stethoscopes Market, By Product Type (Amplifying Stethoscopes, Digitizing Stethoscopes), Technology (Integrated Chest-Piece System, Wireless Transmission System, Integrated Receiver Head-Piece System, Others), End User (Hospitals, Clinics, Medical Institutions, Ambulatory Surgical Centres, Homecare Camps, Catherization Laboratories) - Industry Trends and Forecast to 2029
Market Analysis and Size
In recent years, electronic stethoscopes have become a significant need across health systems. According to the survey, hospitals account for nearly 2/5th of total adoption of electronic stethoscopes, indicating that there has been significant acceptance by medical institutes in recent years. Medical institutes and ambulatory surgical facilities are projected to provide many prospects for electronic stethoscope makers in the next years.
- Data Bridge Market Research analyses that the electronic stethoscopes market is expected to reach the value of USD 139.93 million by 2029, at a CAGR of 5.6% during the forecast period. The rise in healthcare expenditure is escalating the growth of electronic stethoscopes market.
Market Definition
Electronics stethoscopes has been developed in the current years. They are purely an expansion of technology meant to help enhance the diagnosis of ailments. The electronic stethoscopes are known to be accompanied by computer-aided auscultation programs or software that aid in the recording and visualizing the sounds for accurate and early diagnosis of the disease condition.
Electronic Stethoscopes Market Dynamics
Major factors that are expected to boost the growth of the electronics stethoscopes market in the forecast period are as follows:
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The rise in the incidence of cardiovascular diseases
Cardiovascular disease can be referred to a number of conditions such as heart attack, stroke, heart failure, arrhythmia and so forth.
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Technological developments in the device
Electronic stethoscopes use advanced technology and circuitry to overcome the shallow sound levels that are heard in traditional stethoscopes.
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Rapid digitization in the healthcare industry
The penetration of high speed internet and growing adoption of wearable device across the healthcare industry is further estimated to cushion the growth of the electronics stethoscopes market.
Opportunities
In addition, the growing trend of electronic stethoscopes because of the increasing burden of pulmonary and cardiovascular diseases will further provide potential opportunities for the growth of the electronics stethoscopes market in the coming years.
Restraints/Challenges
On the other hand, the increased cost of the digital stethoscope in comparison to a regular stethoscope is further projected to impede the growth of the electronics stethoscopes market in the timeline period. However, intrusion with other electronic devices might further challenge the growth of the electronics stethoscopes market in the near future.
This electronics stethoscopes market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the electronics stethoscopes market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Covid-19 Impact on Electronic Stethoscopes Market
The demand for healthcare services is growing as a result of the current COVID-19 epidemic. Because COVID-19 is a pulmonary disease, it's vital to focus on the lungs and heart in any treatment plan. Additionally, tech-enabled healthcare solutions are explored when this new ailment has side effects that are difficult to treat with current methods. Electronic stethoscopes are a crucial element of the worldwide technology boom for treating this new ailment. Due to the huge investments and research and development activities, the market is expected to grow at a good rate post COVID-19.
Recent Development
- Eko announced in May 2021 that its smart stethoscope with artificial intelligence (AI) algorithm for identifying heart murmurs has been approved as accurate and reliable, with performance comparable to that of a cardiologist.
- In 2020, Thinklabs One, the world's smallest and most powerful electronic stethoscope, announced the technologically advanced electronic stethoscope that allows for Safe Distance Auscultation during COVID-19, keeping healthcare professionals safe. Using external speakers, earbuds, or headphones that fit over or under personal protective equipment, clinicians can listen to patients' hearts and lungs while wearing PPE or from a safe distance (PPE).
Global Electronic Stethoscopes Market Scope
The electronic stethoscopes market is segmented on the basis of type, technology and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
- Amplifying Stethoscopes
- Digitizing Stethoscopes
On the basis of type, the electronic stethoscopes market is segmented into amplifying stethoscopes and digitizing stethoscopes.
Technology
- Integrated Chest-Piece System
- Wireless Transmission System
- Integrated Receiver Head-Piece System
- Others
On the basis of technology, the electronic stethoscopes market is segmented into integrated chest-piece system, wireless transmission system, integrated receiver head-piece system, others.
End User
- Hospitals
- Clinics
- Medical Institutions
- Ambulatory Surgical Centres
- Homecare Camps
- Catherization Laboratories
On the basis of end user, the electronic stethoscopes market is segmented into hospital, clinics, medical institutions, ambulatory surgery centers, homecare camps, and catherization laboratories.
Electronic Stethoscopes Market Regional Analysis/Insights
The electronic stethoscopes market is analysed and market size insights and trends are provided by country, product type, technology and end user as referenced above.
The countries covered in the electronic stethoscopes market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the electronic stethoscopes market due to the rise in the adoption of new technology. Furthermore, the occurrence of major key players and obtainability and introduction of technologically advanced products will further boost the growth of the electronic stethoscopes market in the region during the forecast period.
Asia-Pacific is projected to observe significant amount of growth in the electronic stethoscopes market due to the rise in the geriatric population. Moreover, the increased product requirement in emerging countries and rise in the healthcare expenditure is further anticipated to propel the growth of the electronic stethoscopes market in the region in the coming years.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The electronic stethoscopes market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for electronic stethoscopes market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the electronic stethoscopes market. The data is available for historic period 2010-2020.
Competitive Landscape and Electronic Stethoscopes Market Share Analysis
The electronic stethoscopes market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to electronic stethoscopes market.
Some of the major players operating in the electronic stethoscopes market are Eko Devices Inc., eKuore, GLOBAL MEDIA GROUP, 3M, ADInstruments, Thinklabs Medical LLC, Meditech Equipment, Co., Ltd, AMBISEA Technology Corp., Ltd, HD Medical, Inc., FarmaSino Pharmaceuticals (Anhui) Co., Ltd, Cardionics Inc., Deviceinformed, TELESENSI, Welch Allyn., Yuwell India, Diagnostic Corporation, Rudolf Riester GmbH, American Diagnostic Corporation, Ultrascope., and Sklar Surgical Instruments among others.
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