Inkwood Research estimates that the Global Stethoscope Market is evaluated to grow with a CAGR of 5.80% in terms of revenue during the forecasting years, 2023-2032.
“Browse 50 Market Data Tables and 44 figures spread over 220 Pages, along with an in-depth TOC on the Global Stethoscope Market Forecast 2023-2032.”
A stethoscope is a medical device used for listening to internal human sounds like breathing and heartbeat. The key growth drivers of the global stethoscope market include vast applications of digital stethoscopes, technological advancements, a growing geriatric population, and increasing incidences of cardiovascular and respiratory diseases.
Rising Use of Digital Stethoscopes drives Market Growth
There have been significant technological advancements in stethoscopes, from traditional to electronic. Manufacturers globally are adopting new technologies and tactics like wireless systems and sensors to manufacture stethoscopes with enhanced audibility & performance and innovative designs. Digital stethoscopes have features like background interference removal, audio amplification, and audio recording for better diagnosis. Also, these come with sensors and software that facilitate medical practitioners to generalize readings to monitor heart rates. In addition, this enables the recording of heart and lung sounds.
Furthermore, many startups are launching digital and smartphone-enabled stethoscopes. The dual-purpose digital stethoscope tracks electrical activities and can be connected to electronic medical records. Besides, stethoscopes with innovative features and technologies are embraced by doctors globally. Hence, the growing use of digital stethoscopes is one of the key growth drivers of the global stethoscope market.
Traditional Acoustic Stethoscopes are the Prominent Technology
Traditional acoustic stethoscopes diagnose several medical conditions by listening to irregular heartbeats and internal organ sounds. The main growth drivers of the traditional acoustic stethoscope segment are the increasing target patient populations and the availability of advanced treatment options. Also, the increasing number of cardiovascular patients and diseases offer growth opportunities.
North America is the Dominating Region
The growing rate of cardiovascular diseases is projected to increase the demand for stethoscopes in North America. The developed healthcare infrastructure and the rising chronic conditions due to unhealthy lifestyles are accelerating growth opportunities in the North America stethoscope market. In addition, the presence of key market players contributes to market prospects.
Some of the leading firms operating in the global stethoscope market include Eko Devices Inc, Medline Industries Inc, GF Health Products Inc, Heine Optotechnik GmbH & Co KG, etc.