Global Market for Stethoscopes is Forecast to Reach US$386.7 Million by 2020

Developments in Auscultation Technology Drives the Global Stethoscopes Market, According to New Report by Global Industry Analysts, Inc.

           

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, market size and demand forecasts on the global Stethoscopes market. Global market for Stethoscopes is forecast to reach US$386.7 million by 2020, driven by the ubiquity of auscultation in medical examination and improvements in acoustic capability of stethoscopes.

As a ubiquitous diagnostic device used by physicians for listening to sounds coming from the heart, lungs, stomach and intestines, stethoscopes are poised to witness stable growth in the coming years. Despite the availability of newer diagnostic technologies, stethoscopes continue to be primary assistive tools used by healthcare professionals. Stethoscopes are primarily used for physical examination and evaluation of the lungs. The growing incidence of respiratory disorders such as asthma and COPD, therefore, presents lucrative opportunities for the use of stethoscopes.  Rise in cardiovascular diseases is additionally helping make auscultation a major element of all routine cardiac examinations.  Key factors driving demand in the market include growing healthcare needs of an expanding population, aging population, development of healthcare infrastructure, increase in the number of practising primary care physicians per 1000 people, and rising per capita healthcare spends in developing countries.

Also driving growth are continuous enhancements in stethoscope design and improvements in performance and acoustics. Wireless stethoscopes, Bluetooth enabled stethoscopes, ultrasound based stethoscopes, and smartphone stethoscopes apps are opening up newer avenues for growth. Optical Stethoscopes are also expected to garner considerable interest among healthcare professionals, given its ability to capture subtle yet vital acoustic sounds and enable faster and accurate diagnosis.

Electronic Stethoscopes, which offer amplified sounds and thereby better diagnosis of patient condition, will continue to gain over conventional stethoscopes. Despite the loss of share, mechanical and manual stethoscopes will continue to dominate the market given its cost effectiveness, ease of use, and convenience offered in making a speedy diagnosis. Spread of nosocomial infections is a growing cause for concern, since stethoscopes are prone to contamination. Methicillin-resistant Staphylococcus aureus represents the most common colonising organism found on stethoscopes. Against this backdrop, single-patient use disposable stethoscopes are growing in demand especially in highly contagious areas of healthcare. 

As stated by the new market research report on Stethoscopes, the United States represents the largest market worldwide. Asia-Pacific ranks as the fastest growing market, spearheading global growth with a projected CAGR of 5.3% over the analysis period, driven by rapidly growing healthcare markets in China and India. Growth in the region will also be driven by rise in the number of health workers, and government focus on implementation of public health campaigns.  

Major companies covered in the report include 3M, American Diagnostic Corporation, Cardionics Inc., GF Health Products Inc., Jiangsu Yuyue Medical Equipment & Supply Co. Ltd., Medline Industries Inc., NISCO (INDIA), Rudolf Riester GmbH & Co. KG, Suzuken Co. Ltd., and Welch Allyn Inc, among others.

The research report titled “Stethoscopes: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, product launches, acquisitions, collaborations and other strategic industry activities. The report provides market estimates and projections in US dollars for major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America) and Rest of World. Product segments analysed in the report include Manual & Mechanical Stethoscopes, Electronic Stethoscopes, Esophageal Stethoscopes, Fetal Stethoscopes and Fetal Heart Rate Detectors.