Stethoscope Market to Witness Exponential Growth by 2028: Grand View Research Inc.

 Stethoscope Market Growth & Trends

The global stethoscope market size is anticipated to reach USD 826.72 million by 2028, expanding at a CAGR of 5.8%, according to a new report by Grand View Research, Inc. Growing prevalence of cardiovascular and respiratory disorders, and increasing geriatric population are driving the market. Increase in incidence of numerous cardiovascular and pulmonary diseases in several countries is anticipated to impact market growth over the forecast period. Stethoscope is widely used for heart auscultation (listening to the heart sound) during diagnosis of cardiac illness. It is also used to primarily examine the condition of phlegm in the respiratory tract.

Moreover, growing elderly population has increased the demand for the medical device for the primary diagnosis of numerous chronic health ailments. According to the CDC, people aged above 65 years are at a higher risk of developing several chronic diseases. In addition, the world population aged 60 years and above is expected to increase from 900 million in 2015 to 2 billion in 2050 from. This is expected to boost the market.

Furthermore, several government initiatives, the introduction of new products, and incorporation of new technologies by market players, are likely to boost the market during the forecast period. For instance, 3M has launched ‘Single-Patient Stethoscope’ to overcome the issues related to disposable stethoscopes such as, inadequate audibility and discomfort faced by healthcare professionals. The device helps in minimizing the risk of cross-contamination while enhancing patient care.

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Stethoscope Market Report Highlights

• In terms of revenue, the teaching type segment dominated the market in 2019. The device is widely used for teaching/training purposes and is ideal for instructors and medical students
• The electronic type segment is expected to witness the highest CAGR of 5.5% from 2020 to 2027 owing to advanced features offered by the medical device such as, electronically amplified sound quality, audio recording, and reduced background noises for improved diagnosis
• North America dominated the market with the highest revenue share in 2019 owing to the presence of well-established healthcare facilities and increasing prevalence of numerous heart and lung associated diseases
• In Latin America, the market is expected to witness the highest CAGR of 5.3% from 2020 to 2027 due to increasing healthcare expenditure in most of the countries in the region.

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Stethoscope Market Segmentation

Grand View Research has segmented the global stethoscope market on the basis of technology, sales channel, end-use, and region:

Stethoscope Technology Outlook (Volume, Units; Revenue, USD Million, 2016 - 2028)

• Electronic/Digital
• Smart Stethoscope
• Traditional Acoustic Stethoscope

Stethoscope Sales Channel Outlook (Volume, Units; Revenue, USD Million, 2016 - 2028)

• Distributors
• E-commerce
• Direct Purchase

Stethoscope Technology & Sales Channel, Criss-cross Matrix (Volume, Units; Revenue, USD Million, 2016 - 2028)

• Electronic/Digital
  • Distributors
  • E-commerce
  • Direct Purchase
• Smart Stethoscope
  • Distributors
  • E-commerce
  • Direct Purchase
• Traditional Acoustic Stethoscope
  • Distributors
  • E-commerce
  • Direct Purchase

Stethoscope End-use Outlook (Volume, Units; Revenue, USD Million, 2016 - 2028)

• Home healthcare
• Hospitals
  • Urgent Care
  • Surgery Centers
• Standalone Clinics
  • Cardiologists
  • General Practitioners
  • Others
• Nurse Practitioners
• EMT/ First Responders
• Veterinary

Stethoscope Technology & End-use Criss-cross Matrix (Volume, Units; Revenue, USD Million, 2016 - 2028)

• Electronic/Digital
  • Home healthcare
  • Hospitals
  • Standalone Clinics
  • Nurse Practitioners
  • EMT/ First Responders
• Smart Stethoscope
  • Home healthcare
  • Hospitals
  • Standalone Clinics
  • Nurse Practitioners
  • EMT/ First Responders
• Traditional Acoustic Stethoscope
  • Home healthcare
  • Hospitals
  • Standalone Clinics
  • Nurse Practitioners
  • EMT/ First Responders

Stethoscope Regional Outlook (Volume, Units; Revenue, USD Million, 2016 - 2028)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • UK.
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Colombia
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • Kuwait
  • UAE
  • Oman
  • Yemen

List of Key Players of Stethoscope Market

• 3M
• Medline Industries Inc.
• Welch Allyn (Hill-rom Holdings, Inc.)
• Eko Devices Inc.
• GF Health Products, Inc.
• Rudolf Riester GmbH, (Halma Plc)
• American Diagnostics Corporation
• Cardionics
• Heine Optotechnik Gmbh & Co.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.