Stethoscope Market by Cover Page

Stethoscope Market by Technology (Traditional Acoustic Stethoscope, Smart Stethoscope, and Electronic/Digital), Sales Channels (Direct Purchase, E-commerce, and Distributors), End-users (Hospitals, Nurse Practitioners, Standalone Clinics, Veterinary, Home healthcare, and EMT/ First Responders), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2022 – 2030

  • Report ID: HC-4176
  • Author: Growth Market Reports
  • Rating: 4.9
  • Total Reviews: 3
  • No. Of Pages: 189
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The stethoscope market size was valued at USD 558 million in 2021 and is expected to reach USD 828 million by 2030, expanding at a CAGR of around 5.7% during the forecast period, 2022 – 2030. The growth of the market is attributed to rise in chronic illnesses and the demand for sophisticated diagnostic instruments.

Stethoscope Market by Summary

A stethoscope is a device that is used to hear the noises generated within the body, especially in the lungs and heart. Stethoscopes are acoustic medical instruments that are used to listen to interior sounds in the bodies of humans and animals. They can be used to monitor the flow of blood through arteries and veins. The use of a stethoscope has been common since scientists began researching the physical properties of the heart, which plays an important role in carrying out key physiological processes. During a patient's examination, the sound of the heart and surrounding organs is important. Auscultation is the process of listening to these sounds, and it has been improved with the help of ever more powerful equipment to assist physicians in this important examination.

Market Trends, Drivers, Restraints, and Opportunities

  • Growing percentage of the population suffering from various cardiac and pulmonary disorders, is projected to drive the market.
  • Rising expenditure in healthcare sector is estimated to fuel the market during the projected period.
  • Bluetooth connectivity with digital stethoscope apps on the mobile is expected to boost the market.
  • High cost of digital stethoscope is projected to hinder the market growth during the forecast period.
  • lack of understanding of high-end products is expected to impede the market growth.
  • R&D investment and technological developments in the healthcare sector is anticipated to create lucrative opportunities for the market players.

Scope of the Report

The report on the global stethoscope market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Stethoscope Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2021

Historic Data

2019–2020

Forecast Period

2022 – 2030

Segmentation

Technology (Traditional Acoustic Stethoscope, Smart Stethoscope, and Electronic/Digital), Sales Channels (Direct Purchase, E-commerce, and Distributors), and End-users (Hospitals, Nurse Practitioners, Standalone Clinics, Veterinary, Home healthcare, and EMT/ First Responders)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Smiths Medical; Heine Optotechnik GmbH & Co. KG; Cardionics; American Diagnostic Corp.; Rudolf Riester GmbH; GF Health Products, Inc.; Welch Allyn; Masimo Corporation; Medline Industries, Inc.; Medtronic plc.; and 3M

Market Segment Insights

Traditional acoustic stethoscope segment held around 72% of the total market share

Based on technology, the market is segregated into traditional acoustic stethoscope, smart stethoscope, and electronic/digital. The traditional acoustic stethoscope segment accounted for a major market share of around 72% in 2021. The smart stethoscope segment is projected to expand at a high CAGR during the forecast period. The electronic/digital segment is anticipated to grow at a rapid pace during the projected period. Wireless electronic stethoscopes are becoming popular in telemedicine because of their improved recording, visual and audio output, and digital sound transmission capabilities. By electronically enhancing internal sounds, electronic stethoscopes provide more precise assessment and diagnosis of the heart, intestines, and lungs. Through the chest component, it converts auditory sound waves into electrical signals. The adoption of digital (electronic) stethoscopes in the diagnosis of a number of serious chronic conditions is estimated to boost the market. Cardiovascular diseases (CVD) are one of the most common chronic illnesses that can be accurately identified with stethoscopes. In order to stay competitive in the market, companies are producing new digital stethoscopes.

Distributors segment accounted for a major market share

On the basis of sales channels, the market is fragmented into direct purchase, e-commerce, and distributors. The distributors segment accounted for a major market share. Long-term contracts and agreements with distributors and manufacturers are common among hospitals and clinics. Long-term contracts with end-users are being used by the major players as a tactic to increase their reach and improve their position in the market. Companies like Welch Allyn, Thinklabs, Eko, American Diagnostic Company, Cardionics, and 3M have approved distributors/dealersin every region that sell a complete array of stethoscopes and parts. Stethoscopes are becoming more widely available online and through e-commerce, which is expected to help the market grow. The field of eHealth is rapidly expanding. Medical products are increasingly being sold through online networks, which allows end-users to evaluate and select appropriate products based on point of sale, price, brand, and types.

Stethoscope Market by Sales Channels

The hospitals segment is estimated to expand at a high CAGR during the forecast period

In terms of end-users, the market is divided into hospitals, nurse practitioners, standalone clinics, veterinary, home healthcare, and EMT/ first responders. The hospitals segment to account for a key market share. Every healthcare center has stethoscopes as one of the most frequent pieces of medical equipment. Some clinicians simply require a basic stethoscope to detect bowel, lung, and heart, sounds depending on their job. Others, such as cardiology specialists, need to catch a wider range of frequencies, which can only be heard with modern instrument.

North America dominates the global market

On the basis of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America dominated the market in 2021. Growth of the market in the region is attributed to rapid acceptance of new technology, presence of large businesses, and availability and launch of technologically advanced items in the region. Asia Pacific is estimated to register substantial CAGR during the forecast period owing to increasing demand in developing countries such as India and China and rising investment by major players in the region.

Stethoscope Market by Regions

Segments

The global stethoscope market has been segmented on the basis of

Technology
  • Traditional Acoustic Stethoscope
  • Smart Stethoscope
  • Electronic/Digital
Sales Channels
  • Direct Purchase
  • E-commerce
  • Distributors
End-users
  • Hospitals
  • Nurse Practitioners
  • Standalone Clinics
  • Veterinary
  • Home healthcare
  • EMT/ First Responders
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • Smiths Medical
  • Heine Optotechnik GmbH & Co. KG
  • Cardionics
  • American Diagnostic Corp.
  • Rudolf Riester GmbH
  • GF Health Products, Inc.
  • Welch Allyn
  • Masimo Corporation
  • Medline Industries, Inc.
  • Medtronic plc.
  • 3M

Competitive Landscape

Key players competing in the stethoscope market include Smiths Medical; Heine Optotechnik GmbH & Co. KG; Cardionics; American Diagnostic Corp.; Rudolf Riester GmbH; GF Health Products, Inc.; Welch Allyn; Masimo Corporation; Medline Industries, Inc.; Medtronic plc.; and 3M. Some of these players are using several market strategies such as acquisitions, mergers, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares, generate revenue, and raise their production line of the business in the coming years. For instance,

  • In 2019, Breathe Solutions, Inc., a manufacturing company of medical equipment's that provides wearable, noninvasive ventilation equipment, was bought by Hill-Rom.
  • In April 2022, Sanolla Ltd., an Israeli business, has won FDA approval for its Voqx smart-infrared stethoscope.

Stethoscope Market by Key Players

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Stethoscope Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Stethoscope Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Stethoscope Market - Supply Chain
  4.5. Global Stethoscope Market Forecast
     4.5.1. Stethoscope Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Stethoscope Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Stethoscope Market Absolute $ Opportunity
5. Global Stethoscope Market Analysis and Forecast by End Users
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by End Users
     5.2.2. Y-o-Y Growth Projections by End Users
  5.3. Stethoscope Market Size and Volume Forecast by End Users
     5.3.1. Hospitals
     5.3.2. Nurse Practitioners
     5.3.3. Standalone Clinics
     5.3.4. Veterinary
     5.3.5. Home healthcare
     5.3.6. EMT/ First Responders
  5.4. Absolute $ Opportunity Assessment by End Users
  5.5. Market Attractiveness/Growth Potential Analysis by End Users
6. Global Stethoscope Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Stethoscope Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Stethoscope Demand Share Forecast, 2019-2026
7. North America Stethoscope Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Stethoscope Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Stethoscope Market Size and Volume Forecast by End Users
     7.4.1. Hospitals
     7.4.2. Nurse Practitioners
     7.4.3. Standalone Clinics
     7.4.4. Veterinary
     7.4.5. Home healthcare
     7.4.6. EMT/ First Responders
  7.5. Basis Point Share (BPS) Analysis by End Users
  7.6. Y-o-Y Growth Projections by End Users
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Stethoscope Demand Share Forecast, 2019-2026
8. Latin America Stethoscope Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Stethoscope Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Stethoscope Market Size and Volume Forecast by End Users
     8.4.1. Hospitals
     8.4.2. Nurse Practitioners
     8.4.3. Standalone Clinics
     8.4.4. Veterinary
     8.4.5. Home healthcare
     8.4.6. EMT/ First Responders
  8.5. Basis Point Share (BPS) Analysis by End Users
  8.6. Y-o-Y Growth Projections by End Users
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Stethoscope Demand Share Forecast, 2019-2026
9. Europe Stethoscope Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Stethoscope Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Stethoscope Market Size and Volume Forecast by End Users
     9.4.1. Hospitals
     9.4.2. Nurse Practitioners
     9.4.3. Standalone Clinics
     9.4.4. Veterinary
     9.4.5. Home healthcare
     9.4.6. EMT/ First Responders
  9.5. Basis Point Share (BPS) Analysis by End Users
  9.6. Y-o-Y Growth Projections by End Users
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Stethoscope Demand Share Forecast, 2019-2026
10. Asia Pacific Stethoscope Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Stethoscope Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Stethoscope Market Size and Volume Forecast by End Users
     10.4.1. Hospitals
     10.4.2. Nurse Practitioners
     10.4.3. Standalone Clinics
     10.4.4. Veterinary
     10.4.5. Home healthcare
     10.4.6. EMT/ First Responders
  10.5. Basis Point Share (BPS) Analysis by End Users
  10.6. Y-o-Y Growth Projections by End Users
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Stethoscope Demand Share Forecast, 2019-2026
11. Middle East & Africa Stethoscope Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Stethoscope Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Stethoscope Market Size and Volume Forecast by End Users
     11.4.1. Hospitals
     11.4.2. Nurse Practitioners
     11.4.3. Standalone Clinics
     11.4.4. Veterinary
     11.4.5. Home healthcare
     11.4.6. EMT/ First Responders
  11.5. Basis Point Share (BPS) Analysis by End Users
  11.6. Y-o-Y Growth Projections by End Users
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Stethoscope Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Stethoscope Market: Market Share Analysis
  12.2. Stethoscope Distributors and Customers
  12.3. Stethoscope Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Smiths Medical
     12.4.2. Heine Optotechnik GmbH & Co. KG
     12.4.3. Cardionics
     12.4.4. American Diagnostic Corp.
     12.4.5. Rudolf Riester GmbH
     12.4.6. GF Health Products, Inc.
     12.4.7. Welch Allyn
     12.4.8. Masimo Corporation&

The global stethoscope market has been segmented on the basis of

Technology
  • Traditional Acoustic Stethoscope
  • Smart Stethoscope
  • Electronic/Digital
Sales Channels
  • Direct Purchase
  • E-commerce
  • Distributors
End-users
  • Hospitals
  • Nurse Practitioners
  • Standalone Clinics
  • Veterinary
  • Home healthcare
  • EMT/ First Responders
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • Smiths Medical
  • Heine Optotechnik GmbH & Co. KG
  • Cardionics
  • American Diagnostic Corp.
  • Rudolf Riester GmbH
  • GF Health Products, Inc.
  • Welch Allyn
  • Masimo Corporation
  • Medline Industries, Inc.
  • Medtronic plc.
  • 3M

Key players competing in the stethoscope market include Smiths Medical; Heine Optotechnik GmbH & Co. KG; Cardionics; American Diagnostic Corp.; Rudolf Riester GmbH; GF Health Products, Inc.; Welch Allyn; Masimo Corporation; Medline Industries, Inc.; Medtronic plc.; and 3M. Some of these players are using several market strategies such as acquisitions, mergers, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares, generate revenue, and raise their production line of the business in the coming years. For instance,

  • In 2019, Breathe Solutions, Inc., a manufacturing company of medical equipment's that provides wearable, noninvasive ventilation equipment, was bought by Hill-Rom.
  • In April 2022, Sanolla Ltd., an Israeli business, has won FDA approval for its Voqx smart-infrared stethoscope.

Stethoscope Market by Key Players

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FAQ Section

Some frequently asked quetions about this report!

The stethoscope market is expected expand at a CAGR of around 5.7% during the forecast period, 2022 – 2030.

The stethoscope market is expected to reach USD 828 million by 2030.

The hospitals segment is estimated to expand at a high CAGR during the forecast period

North America dominates the global market.

Welch Allyn; Masimo Corporation; Medline Industries, Inc.; Medtronic plc.; and 3M are some of the key players in the market.