Stethoscope Market: How Green Is Your Healthcare Technology? To create an impact on the growth of your business
Stethoscopes Market, By Product Type (Dual Head Stethoscope, Single Head Stethoscope, and Triple Head Stethoscope), By Application (Human & Veterinary), By End Users (Hospitals, Clinics, Academics & Institutes, Home
The stethoscope is the acoustic medical device used for the physical examination based on the auscultation of humans or animals. A resonator placed under the small disc at one end increases the noise of a fetal heart, esophagus, lungs, or heart rate. The stethoscope is the fundamental aspect of a health professional’s physical examination. Key factors such as increasing prevalence of cardiovascular disease, increasing number of healthcare professionals, and improving healthcare facilities are expected to drive the growth of the global stethoscopes market. In addition, companies in the market are launching more user-friendly advanced technology products featuring wireless digital stethoscope or Bluetooth connectivity, which in turn is expected to drive the growth of the global stethoscopes market during the period. forecast.
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Stethoscope Market Drivers
The increase in product launches by key companies with advanced technologies is expected to drive the growth of the global stethoscopes market during the forecast period. For example, a research group, in March 2018, developed a clinically validated open source model for the 3D printed stethoscope in application areas that do not have access to medical supplies. Additionally, Steth IO, in April 2018, introduced a digital stethoscope called Steth IO. This product is directly integrated into the protective case of an iphone of the doctor. It works on an application that allows you to view lung or heart sounds directly on the phone screen, if it is held against the patient’s chest. In addition, it allows the doctor to store the files in the app, which could be shared for a 2nd opinion. The Steth IO received US Food and Drug Administration (FDA) approval in 2016. In 2015, Eko received US FDA clearance for the launch of Eko Core, the stethoscope next-generation digital technology.
Additionally, M3DICINE Inc., a developer of smart medical devices, introduced in January 2018, Stethee, a first artificial intelligence (AI) stethoscope system. This Stethee system consists of three products, the Stethee Pro for healthcare and medical professionals, the Stethee Vet for animal professionals and veterinarians, and the Stethee Edu designed as a research and teaching tool. All of these product launches are advanced technological versions of the conventional stethoscope which is expected to increase user preference.
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The high prevalence of cardiovascular disease is a factor that is expected to drive the growth of the global stethoscopes market during the forecast period. The stethoscope is an essential component that helps clinicians diagnose cardiovascular disease, affecting 1 in 4 people in the United States, according to the Centers for Disease Control and Prevention (CDC). In 2018, according to the American Heart Association, heart disease is the leading cause of death worldwide. In addition, according to the same source, 2,300 American individuals die of cardiovascular disease daily, an average of 1 death every 38 seconds. Besides, the increase in the geriatric population, which is more susceptible to diseases, the increase in demands for frequent diagnostics for various medical conditions, in turn are expected to drive the growth of the global stethoscopes market during the forecast period. . For example, the world’s geriatric population is expected to exceed 962 million people, or 13% of the entire world population, by 2017, according to the United Nations (UN). According to their forecasts, the global geriatric population is expected to reach over 1.4 billion in 2030 and 2.1 billion in 2050.
Stethoscopes Market – Regional Analysis
Based on the region, the global stethoscope market is divided into North America, Europe, Latin America, Middle East, Africa, and Asia-Pacific. North America accounts for a dominant share in the global stethoscopes market, due to the increasing number of new product launches by key companies in the United States, North America, followed by Europe, due to the number growing number of clinics, hospitals and healthcare professionals. . For example, according to Eurostat, more than 1.8 million doctors operate in the European Union, where the comparison between 2005 and 2015 indicates that the number of qualified doctors / 100,000 inhabitants rose to 12.4 doctors in 2015 compared to to 2005 (9.5 doctors / 100, 00 inhabitants).
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Current and future outlook of the global stethoscopes market in developed and emerging markets
The segment which is expected to dominate the market as well as the segment which holds the highest CAGR during the forecast period.
Regions / countries expected to experience the fastest growth rates during the forecast period
The latest developments, market shares and strategies used by major market players
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Stethoscopes Market – Competitive Landscape
Major players operating in the stethoscope market including 3M Company, Heine Optotechnik GmbH & Co. KG, Cardionics, Inc., American Diagnostics Corp, Welch Allyn, Inc., Medline Industries, Inc., GF Health Products, Inc., Rudolf Riester GmbH, and others.
Stethoscope Market Taxonomy
Based on product type
- Single head stethoscope
- Double head stethoscope
- Three Head Stethoscope
Based on end users
- Home care environment
- Academic and institutes
Based on region
- North America
- Latin America
- Middle East
- Asia Pacific
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The main points covered in the Stethoscopes market research are:
How will the Stethoscope market progress rate for the conjecture period, 2020-2027?
What are the major factors driving the Stethoscope market across different regions?
Who are the major vendors dominating the stethoscope industry and what are their winning strategies?
What will be the scope of the market for the estimated period?
What are the major trends that will shape the expansion of the industry in the years to come?
What are the challenges faced by the Stethoscope market?
Actual figures and in-depth analysis, business opportunities, market size estimate available in the full report.
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