Stethoscope Market to Penetrate Untapped Regions During 2022 to 2030: Grand View Research Inc.

 Stethoscope Market Growth & Trends

The global stethoscope market size is anticipated to reach USD 949.88 million by 2030, according to a new report by Grand View Research, Inc. Furthermore, the report forecasts the industry to expand at a CAGR of 5.9% from 2022 to 2030. The increasing incidences of cardiovascular & pulmonary diseases, along with the growing application of digital stethoscopes in the diagnosis of such chronic conditions, are expected to boost the adoption of these devices significantly during the forecast period.

In addition, the outbreak of the COVID-19 pandemic in the year 2020 significantly boosted the use of stethoscopes globally. Since COVID-19 is extremely infectious and a respiratory ailment, initial diagnosis by listening to the lungs and heart is of the utmost importance in any clinical setting. Thus, the market is expected to witness substantial and continuous growth even after the end of the pandemic.

The launch of several government initiatives, the introduction of new products, and the incorporation of new technologies by market players are expected to propel the market during the projection period. For instance, 3M has launched the ‘Single-Patient Stethoscope’ to overcome the issues faced while using disposable stethoscopes, such as inadequate audibility & discomfort for healthcare professionals. Also, the launch of digital/smart stethoscope that uses Artificial Intelligence (AI) to record and send recordings to physicians virtually allows them to maintain social distancing and reduce exposure to COVID-19.

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Stethoscope Market Report Highlights

• Based on technology, the traditional acoustic stethoscope segment dominated the overall market with a share of 74.42% in 2021, since it is comparatively inexpensive, simple to use, and widely available for use for paramedics & nurses
• Based on the sales channel, the distributors’ segment dominated the market with a share of 54.47% in 2021. This is because hospitals & clinics usually have long-term contracts and tie-ups with distributors & manufacturers, which helps save on consignment and other delivery costs
• Hospitals dominated the end-use segment with the largest share of 40.58% in 2021, and the segment is further expected to advance at the highest CAGR during the forecast period
• North America dominated the regional market with the highest revenue share of 33.05% in 2021, owing to the presence of well-established healthcare facilities and the increasing prevalence of heart- and lung-associated diseases

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Stethoscope Market Segmentation

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

Stethoscopes Technology Outlook (Revenue, USD Million, 2018 - 2030)

• Electronic/Digital Stethoscope
• Smart Stethoscope
• Traditional Acoustic Stethoscope

Stethoscopes Sales Channel Outlook (Revenue, USD Million, 2018 - 2030)

• Distributors
• E-commerce
• Direct Purchase

Stethoscopes End-Use Outlook (Revenue, USD Million, 2018 - 2030)

• Home Healthcare
• Hospitals
• Clinics
• Nurse Practitioners
• EMT/ First Responders
• Veterinary

Stethoscopes Regional Outlook (Revenue, USD Million, 2018 - 2030)

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

List of Key Players in the Stethoscope Market

• 3M
• Medline Industries
• Welch Allyn
• Eko Devices Inc.
• GF Health Products, Inc.
• Rudolf Riester GmbH
• American Diagnostics Corporation
• Cardionics
• Heine Optotechnik GmbH & Co. KG
• PAUL HARTMANN AG
• STETHOME SP. Z O.O.

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.