The global stethoscope market size is anticipated to reach USD 593.4 million by 2027, expanding at a CAGR of 4.9%, 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 type and region:
Stethoscope Type
Outlook (Revenue, USD Million, 2016 - 2027)
- Cardiovascular
- Neonatal
- Infant
- Pediatric
- Fetal
- Electronic
- Teaching
- Others
Stethoscope
Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- Asia Pacific
- Japan
- China
- Latin America
- Mexico
- Brazil
- Middle East and Africa (MEA)
- South Africa
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.
For more info visit @ https://www.grandviewresearch.com
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