Stethoscope Market Size By Product (Acoustic Stethoscope {Neonatal Stethoscope, Pediatric Stethoscope, Fetal Stethoscope [Pinard Horns, Fetoscope], Cardiology Stethoscope, Veterinary Stethoscope, Teaching Stethoscope}, Electronic Stethoscope {Digitizing Stethoscope, Amplifying Stethoscope}), By Design (Single Head, Double Head, Triple Head), By Usability (Reusable, Disposable), By Tube Type (Single Tube, Double Tube), By Material (Stainless Steel, Aluminum, Zinc, Acrylic Resin, Chrome-plated Brass, Chrome-plated Zinc, Molded Resin, Silicone, Wooden), By End-use (Hospitals, Physician Office, Ambulatory Surgical Centers, Urgent Care Centers, Academic Institutes), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Feb 2020  |  Report ID: GMI2923  |  Authors: Sumant Ugalmugle, Rupali Swain

Report Format: PDF   |   Pages: 930   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Global Stethoscope Market size exceeded USD 373 million in 2019 and is projected to achieve over 5% CAGR over 2020 to 2026. The growth is attributed to increase in need for advanced diagnostic devices and rise in chronic disorders. Recent technological advancements in manufacturing novel and advanced electronic variants will result in augmenting the demand and adoption rate thereby, fueling the market growth.
 

Global Stethoscope Market

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The use of stethoscope has been prominent since scientists began studying the physical characteristics associated with the heart, as it plays a crucial role carrying out essential body functions. The sound of heart and surrounding organs are crucial indicators while examining a patient. The act of listening to these sounds is known as auscultation and this act has been refined with the help of even more powerful tools to aid physicians in this crucial examination.
 

Stethoscope Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: USD 373.6 Million
Historical Data for: 2015 to 2019 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 5.0% 2026 Value Projection: USD 523.8 Million
Pages: 930 Tables, Charts & Figures: 2236
Geographies covered (51): U.S., Canada, Germany, UK, France, Spain, Italy, Russia, Austria, Belgium, Czech Republic, Denmark, Finland, Hungary, Lithuania, Netherlands, Norway, Poland, Sweden, Switzerland, Romania, Portugal, Turkey, China, Japan, India, Australia, South Korea, Taiwan, New Zealand, Singapore, Malaysia, Bangladesh, Indonesia, Philippines, Thailand, Brazil, Mexico, Argentina, Chile, Columbia, Cuba, Ecuador, Peru, South Africa, Saudi Arabia, UAE, Egypt, Israel, Iran, Iraq
Segments covered: Product, Design, Usability, Tube Type, Material and End-use
Companies covered (16): 3M, American Diagnostic Company, Cardionics, Eko Devices, GF Health Products, HEINE Optotechnik, Invacare Supply Group, McCoy, MDF Instruments, Medline Industries, Omron, Rudolf Riester, Sklar Instruments, Smiths Medical, Ultrascope and Welch Allyn
Growth Drivers:
  • Increase in number of cardiovascular and pulmonary diseases
  • Rise in adoption of stethoscope in telemedicine technology
  • Growing preference for electronic stethoscope
  • Recent technological advancements
  • Increase in average patient visits to physicians
Pitfalls & Challenges:
  • High product cost
  • Lack of skilled healthcare professionals

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Increase in number of patients suffering from cardiovascular and pulmonary diseases will boost the stethoscope market revenue

Growing number of people suffering from several cardiovascular and pulmonary diseases will play significant role in augmenting the stethoscope industry growth in the future. Majority of the cardiovascular diseases are associated with the type of sound the heart produces. Heart auscultation has been very important technique for early diagnosis of cardiac dysfunction. Traditional auscultation method requires significant clinical experience and good listening skills. The advent of technologically advanced products has paved the way for accurate and immediate diagnosis. Hence, the aforementioned factors will augment the stethoscope market growth.
 

Major stethoscope industry players such as 3M and Welch Allyn have undertaken several initiatives to improvise and launch new type of stethoscope. Additionally, increase in number of healthcare professionals and facilities across the globe will further augment the demand and adoption rate, propelling the market growth. The average number of visits to physicians by the patients over the age of 45 has grown significantly in the last few decades. Hence, increase in number of patient visits to the physicians across the globe will positively impact the market growth.
 

However, high cost of some variants and lack of skilled healthcare professionals will be one of the major market impeding factors. Some of the technologically advanced variants are expensive and cannot be afforded by few of the healthcare professionals. Also, lack of skilled healthcare providers and insufficient knowledge about the high-end products will hamper the industry growth.
 

Increasing applications of electronic stethoscope in diagnosis of chronic ailments will spur the market growth

Stethoscope Market By Product

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On the basis of product, the market is segmented into acoustic and electronic products. Electronic stethoscope segment was valued at around USD 200 million in 2019, growing from over USD 165 million in 2015. The use of digital (electronic) stethoscope in diagnosis of several critical chronic diseases will further foster the market growth. Cardiovascular disorders (CVD) are one of the major chronic disorders that are accurately diagnosed with the help of stethoscopes. CVD is the leading cause of mortality in several countries throughout the world. Hence, early diagnosis of the disease resulting in proper treatment will augment the stethoscope market demand.
 

Several different advantages offered by the single head stethoscopes will boost the market growth in the future  

The single head stethoscope segment is projected to expand at a CAGR of 5.2% over the estimation period. These types of products are pressure sensitive and have single-sided chest piece with adjustable or tuneable diaphragm allowing the user to listen different sound frequencies without flipping the chest piece.
 

The single head variants are of great use to the cardiologists, as it will easily allow them to adjust the diaphragm with respect to lung, heart, and bowel sounds. Such products are a useful option for the healthcare professionals that treat adults with common medical conditions. The single head variants can be used effectively for both human and veterinary purpose. Hence, the above-mentioned applications of single head products will augment the market growth in the future.
 

High preference of healthcare professionals in reusable stethoscopes will favor the market growth

Stethoscope Market By Usability

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Based on usability, the stethoscope market is segmented as reusable and disposable. As majority of the products are one-time purchase equipment, the reusable segment held market share of more than 90% in 2019. Stethoscopes offer several advantages such as listening to sounds produced by the lungs, heart, intestinal tract, blood flow in peripheral vessels and the heart sounds of developing foetuses in pregnant women. Hence, the aforementioned advantages will spur the market growth.
 

Clear sound and more accurate diagnosis with the help of double tube stethoscopes will enhance the business growth in the coming years

The double tube stethoscope segment is forecasted to grow at around 6% over the estimation period. The double or two-tube stethoscopes provide individual sound channel to each ear. The double tubing helps the user to hear subtle characteristics heart sounds and murmurs even more distinctly. Also, the heavier tubing filters out distracting noises of a busy medical environment. Thus, above mentioned factors will play substantial role in enhancing the stethoscope market demand.
 

Several applications of stainless-steel stethoscopes in diseases diagnosis will increase its adoption in the forthcoming years

Based on material, the market is segmented into stainless steel, aluminium, zinc, acrylic resin, chrome-plated brass, chrome-plated zinc, molded resin, silicone, wooden and others. Stainless steel material segment held majority market share and was valued at around USD 150 million in 2019.  The stainless-steel products are a good conductor of sound and provide high durability hence, preventing any kind of air leak. Also, as compared to other materials stainless steel tops them for sound quality and amplification. Hence, good sound quality along with the high product durability will result in growing demand and adoption rate of stainless-steel variants, fuelling the industry growth.
 

Increase in number of healthcare providers and physicians across the globe will enhance the market growth

The product use by physicians is projected to grow at 5.4% over the forecast time period. As per the article published by Athena Health, in U.S., the number of physicians grew by around 150% and the number of healthcare administrators increased by around 3,200% in the last few decades. This rapid increase has resulted in growing adoption of basic diagnostic devices by the healthcare professionals, one of them primarily being stethoscope. Hence, constant rise in number of healthcare professionals will augment the stethoscope market growth.
 

Presence of established key players and rapidly growing demand of technologically advanced stethoscopes in the U.S. will boost the market growth

U.S. dominated the North America stethoscope market share and was valued at around USD 120 million in 2019. Presence of major market players along with high prevalence of cardiovascular and pulmonary diseases across the country will result in augmenting the market growth. As per the Centers for Disease Control and Prevention (CDC), heart diseases are the leading cause of death in the U.S. as every 37 seconds one person dies of cardiovascular disease. Hence, early and accurate diagnosis of such cardiovascular diseases will result in augmenting the market demand and adoption rate of stethoscope, fueling the regional industry growth.  
 

Implementation of strategies such will boost the market growth

Some of the major industry players in the market share include 3M, Eko Devices, American Diagnostic Company, Cardionics, GF Health Products and HEINE Optotechnik among others. Development of advanced stethoscopes for better outcomes and rigorous marketing are few competitive strategies adopted by market players.
 

Recent industry developments:

  • In November 2019, Eko Devices, a digital health firm, released ‘Core’ the second generation digital stethoscope used by healthcare professionals to diagnose heart ailments. This strategy helped in allowing the medical professionals to provide high level of cardiac diagnosis and care and expanding the company product portfolio and market share.

     
  • In May 2018, 3M introduced single-patient stethoscope, high-quality disposable stethoscope intended to combine several applications such as sound quality, user comfort and help eliminate use of personal stethoscopes in isolation environments. This new product launch was intended to address the issue regarding preventing transmission of infectious diseases.
     

The stethoscope market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and volume in terms of Units from 2015 to 2026, for the following segments:
 

Market Outlook By Product

  • Acoustic Stethoscope
    • Neonatal Stethoscope
    • Pediatric Stethoscope
    • Fetal Stethoscope
      • Pinard Horns
      • Fetoscope
    • Cardiology Stethoscope
    • Veterinary Stethoscope
    • Teaching Stethoscope
    • Others
  • Electronic Stethoscope
    • Digitizing Stethoscope
    • Amplifying Stethoscope

Market Outlook By Design

  • Single Head
  • Double Head
  • Triple Head

By Usability

  • Reusable
  • Disposable

By Tube Type

  • Single Tube
  • Double Tube

By Material

  • Stainless Steel 
  • Aluminium 
  • Zinc
  • Acrylic Resin
  • Chrome-plated Brass
  • Chrome-plated Zinc
  • Molded Resin
  • Silicone
  • Wooden
  • Others

By End-use

  • Hospitals
  • Physician Office
  • Ambulatory Surgical Centers
  • Urgent Care Centers
  • Academic Institutes
  • Others

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
    • Russia
    • Austria
    • Belgium
    • Czech Republic
    • Denmark
    • Finland
    • Hungary
    • Lithuania
    • Netherlands
    • Norway
    • Poland
    • Sweden
    • Switzerland
    • Romania
    • Portugal
    • Turkey
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Taiwan
    • New Zealand
    • Singapore
    • Malaysia
    • Bangladesh
    • Indonesia
    • Philippines
    • Thailand
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Chile
    • Columbia
    • Cuba
    • Ecuador
    • Peru
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • Israel
    • Iran
    • Iraq
       

Frequently Asked Questions (FAQ) :

Electronic stethoscope revenue was valued at around USD 200 million in 2019, says a GMI report.
Clear sound and more accurate diagnosis will enhance the double tube stethoscopes demand, which is expected to witness 6% CAGR through 2026.
According to this report, U.S. dominated the North American market and was valued at around USD 120 million in 2019.
As majority of the products are one-time purchase equipment, the reusable segment dominates the market with more than 90% share in 2019.

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