Electronic Stethoscope Market
Electronics Stethoscopes Market - By Product Type, By Technology & Global Region - Market Size, Trends, Opportunity and Forecast 2021-2027Request Sample Request Discount
The global electronic stethoscopes market size was estimated at USD 251 million in 2019 and is expected to reach USD 446 million by 2027, growing with a CAGR of 6.7% over the forecasted period of 2021 to 2027. Electronic stethoscopes have appeared in the last couple of years. They are great development of technology which are meant to aid improved diagnosis of ailment, particularly cardiovascular diseases. In recent years, the global electronic stethoscopes market has seed exclusive growth and predictions are that it will have a great growth rate during the forecast period.
There are various factors that players in the global electronic stethoscopes market can depend on sustain and grow in the business. Moreover, electronics stethoscopes are capable to amplify the sound and helps in giving better listen to body’s sound, hence aiding diagnosis. In addition, it can also change acoustic signals to electronic signals which helps in recoding the details directly to the computer. This aspect further boosts the global electronic stethoscopes market.
Other important trend in the global electronic stethoscopes market is the increasing in need to stay technologically developed. Moreover, doctors are looking for the upgraded equipment that can help in improving their practice. An electronics stethoscopes is the first tool of doctor and hence having an electronic stethoscopes is a price possession for a physician. This is the crucial trend in the global electronics stethoscopes market.
Furthermore, there is an increase in the electronics stethoscopes as its demand amongst doctor is increasing which helps doctor in seeing more patients. In addition, to boost up their patient-time, doctors are preferring high-end equipment. However, high cost and of the electronics stethoscopes is restricting the growth of the electronics stethoscopes market.
The global electronics stethoscopes market is primarily boosting by the raising incidence of cardiac and pulmonary disorders, increasing technological advancements and health care expenditure in the device. According to the World Health Organization (WHO), cardiovascular disease (CVD) is the great cause of death globally and estimated 17.9 million people died from CVDs in 2016,
The global Electronic Stethoscope market is primarily driven by the growing incidences of cardiac and pulmonary disorders, rising healthcare expenditure and technological advancements in the device, representing 31% of the global deaths. Out of these, 85% die due to heart stroke and attack.
- On March 2019, Northwestern medicine has announced that they have completed partnership with Eko, a startup has developed a cardiac monitoring platform which is more precise for valvular heart disease. The Chicago-based hospital is system is conducting a study to explain that Eko’s digital stethoscopes and AI algorithms can improve heart sounds which helps in screening for pathologic heart murmurs and valvular heart disease.
- In November 2018, the Mayo Clinic has launched a mHealth project to determine whether a digital stethoscopes can be utilized for damaged hearts. The health system is teaming up with Eko to test the company’s Dup Digital stethoscopes on patients which are diagnosed with asymptomatic left ventricular dysfunction.
- On November 2018, eKuore, Spanish technology firm has launched its new device eKuore ONE the interface for stethoscopes which can digitalize and record the auscultation sound through the help of smartphones and tablets.
North America market holds the major share in the year 2019 and it expected to retain its dominant during the forecast period owing to wide availability of innovative products in the region. The U.S. stethoscopes market dominated the regional electronic stethoscopes market owing to the high healthcare expenditure and increasing rate of cardiopulmonary diseases.
Product Type Insights
By product type analysis, the electronics stethoscopes market is segmented into digitizing stethoscopes and amplifying stethoscopes. The digitizing stethoscopes segment holds the major market share, and it is expected to retain its dominance during the forecast period. Digitizing stethoscopes can help in converting the audio sound to a digital signal and also transmit consecutive audio data which can be shared real-time or filter the sound frequencies. This helps doctors or physicians to preserve the patients’ medical data. Moreover, recently available digital stethoscopes help practitioners to choose various frequency response modes and allowing the listener to effectively examine sounds from the lungs, heart and other body parts.
On the basis of technology, the electronics stethoscopes market is divided into integrated receiver head-piece system, integrated chest-piece system, wireless transmission system, and others. The integrated chest-piece system segment holds the major market share and it is expected to retain its dominance during the forecast period..
Key Companies Profiled
The global electronics stethoscopes market is characterized by the presence of various small and big players. The major market player includes includes Eko, FarmaSino Pharmaceuticals, Qinhuangdao Contec Medical Systems Co. Ltd., Qufu Longercare Meditech Limited, and EXANOVO GROUP. As the market is competitive in nature, the players are indulged in raising their competitive share by means of strategic initiatives like mergers, new product and acquisitions.
By Product Type
- Digitizing stethoscopes
- Amplifying stethoscopes
- Integrated Receiver Head-piece System
- Integrated Chest-piece System
- Wireless Transmission System
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