Manufacturers of electronic stethoscopes are concentrating on creating cutting-edge products to improve the audibility and effectiveness of these stethoscopes. Several of these stethoscopes have the capacity to save the audio signals and record and playback them.
NEWARK, Del: Up from nearly half a million units sold in 2018, the global sales of electronic stethoscopes will observe a robust 7.2% growth in 2022. The electronic stethoscopes market is expected to create an incremental opportunity worth US$ 170.9 Mn between 2022 and 2029.
Key Manufacturers Continue to Strategize on New Product Launches in Electronic Stethoscopes Landscape
Almost 2/5th of total adoption of electronic stethoscopes is registered at hospitals, the report underscores that there has been significant adoption by medical institutes in the recent past. In the next few years, medical institutes and ambulatory surgical centers are likely to create multiple opportunities for manufacturers of electronic stethoscopes.
More than half of the overall sales is accounted by amplifying electronic stethoscopes, as indicated by FMI’s analysis. While amplifying electronic stethoscopes provide results as accurate as digitizing electronic stethoscopes, the latter are associated with high maintenance owing to the presence of multiple electronic components. Amplifying electronic stethoscopes are thus expected to observe significant growth in revenue over the course of coming years.
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According to the report, the market attractiveness of amplifying stethoscopes is strongly backed by the increasing number of launches of new electronic stethoscopes by a number of small- and medium-sized companies. Electronic stethoscopes are rapidly replacing conventional variants across developed countries, predominantly owing to accelerated regulatory approvals.
- eKuore had launched the first wireless stethoscope for medical use.
- Eko had launched the first Android–connected digital stethoscope.
- In April 2018, Steth IO launched a digital smartphone-enabled stethoscope.
According to the report, approximately 60% of the electronic stethoscopes that are sold are enabled with Bluetooth technology and an integrated chest piece system. The former is however poised to witness a higher rate of adoption over the coming years.
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North America Continues to Lead the Global Market for Electronic Stethoscopes
North America holds a considerable revenue share in the electronic stethoscopes market. With advancements in technology and the presence of a large number of healthcare facilities, electronic stethoscopes are being widely used in the region. Their ability to provide amplified sound output as well as reduce external sound makes it easy for medical professionals to detect sounds and provide proper treatment to patients.
FMI’s study has profiled some of the key companies operating in the global electronic stethoscopes market, including Eko Devices, eKuore, GlobalMed, 3M, Welch Allyn, Ambisea Technology Corp., Meditech Equipment Co., Ltd, HD Medical, Thinklabs, ADInstruments, and Cardionics Inc.
Electronic Stethoscope Market by Category Product:
- Amplifying Stethoscopes
- Digitizing Stethoscopes
- Medical Institutes
- Ambulatory Surgical Centers
- Homecare Settings
- Medical Camps
- Catheterization Laboratories
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- Integrated Chest-Piece System
- Wireless Transmission System (Bluetooth)
- Integrated Receiver Head-Piece System
- North America
- Latin America
- South Asia
- East Asia
Table of Content
- Executive Summary
1.1. Global Market Outlook
1.2. Analysis and Recommendations
- Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
2.3. Inclusions and Exclusions
- Market Background
3.1. Macro-Economic Factors
3.2. Forecast Factors – Relevance & Impact
3.3. Market Dynamics
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Stethoscope Market Growth : The stethoscope market is anticipated to grow at a strong CAGR of 5.8% from 2022 to 2030, reaching a market worth of US$ 582.5 Million in 2022. The market is expected to reach US$ 914.1 Million by 2030, and the sales prediction for stethoscopes is expected to remain positive.
About Future Market Insights, Inc :
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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