Stethoscope Market Report

Stethoscope Market Analysis By Type (Manual Stethoscopes, Electronic Stethoscopes), By Region (North America, Europe, Asia Pacific, Latin America, MEA), And Segment Forecasts, 2018 - 2025

  • Published Date: Nov, 2017
  • Base Year for Estimate: 2016
  • Report ID: GVR-2-68038-050-7
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2016
  • Number of Pages: 80

Industry Insights

The global stethoscope market size was valued at USD 327.7 million in 2016 and is expected to grow at a CAGR of 4.7% over the forecast period. The global rise in cardiovascular and pulmonary diseases, increasing healthcare expenditure, and technological advancements such as Bluetooth connectivity with digital wireless hearing aids for hearing aid wearers using stethoscope and stethoscope apps on smartphones are anticipated to drive the market growth.

Increase in geriatric population has increased the demand for newly advanced stethoscope technology for the primary diagnosis of several chronic health conditions. People above 65 years of age are at a higher risk of developing chronic diseases. According to WHO, the world population aged 60 years and older is expected to reach up to 2 billion by 2050 from 900 million in 2015. This is expected to drive the market.

U.S. stethoscope market

Furthermore, the introduction of new products, ongoing R&D by market players & universities, geographical expansion of market players, and several government initiatives are likely to boost the market during the forecast period. For instance, the Chinese government plans to expand insurance coverage by providing demand subsidies to the rural population by introducing a New Cooperative Medical Scheme to raise care cost for improved and rapid treatment.

In September 2015, eKuore launched the first wireless stethoscope in Düsseldorf, Germany. This stethoscope is capable of connecting and amplifying 20 times the sound of the heart and lungs, and removes undesirable sounds.

Type Insights

Based on the mechanism, two major types of devices are used to listen to specific sounds of internal organs to diagnose various health conditions, namely manual stethoscopes and electronic stethoscopes.

The manual stethoscopes segment dominated the market in 2016 due to increased heart problems and availability of advanced stethoscopes for effective diagnosis. For instance, 3M introduced New Littmann Classic III Stethoscope with tunable diaphragms on both sides of the chestpiece. It enables a physician to hear the different frequency of sounds by changing the amount of pressure applied to the chestpiece.

Electronic stethoscopes are likely to exhibit the fastest growth in the forecast period due to their enhanced digital sound transmission capabilities, visual & audio output as well as recording, and increasing usage of wireless electronic stethoscopes in telemedicine. For instance, in February 2017, Eko Core digital stethoscope received approval from Health Canada owing to its improved speed and accuracy to diagnose illness by increasing heart and lung sounds by 40 times and generating a digital file that can be stored and shared.

In February 2013, InTouch Technologies, Inc., launched ControlStation (CS) App, an FDA-cleared app for iPad that enables real-time auscultation from a digital stethoscope. The introduction of technologically advanced products such as these is likely to drive the market in the coming years.

Global stethoscope market

Regional Insights

North America dominated the global market in 2016. This can be attributed to the high adoption of new technology, local presence of major players, and availability & introduction of technologically advanced products in this region.

Asia Pacific is the fastest growing region during the forecast period owing to increase in aging population in the region, growing demand in emerging countries, increase in expenditure on healthcare, and investment by market players in the region.

The UK and Germany are among the largest markets in Europe. Germany dominated the market in 2016 due to various partnerships, enhancement of data management systems, and innovations such as Bluetooth-enabled stethoscopes that can be operated through apps on smartphones.

In 2010, a researcher of University College London launched 59p, an app that enables an Apple iPhone to be used as a stethoscope.

Competitive Insights

Some of the major players include 3M; Medline Industries, Inc.; Welch Allyn; GF Health Products, Inc.; Rudolf Riester GmbH; American Diagnostic Corporation; Cardionics; Heine Optotechnik GmbH & Co. KG; and Smiths Medical.

Clearance (by the FDA) of digital stethoscope for telehealth use and other favorable regulations are expected to increase the introduction of new devices in the market. For instance, as per the article of 2014, the FDA staked out the exemptions to medical device premarket approval, wherein it eliminated devices such as stethoscopes, hearing aids, exercise equipment, fertility diagnostic devices, and first aid kits, from premarket submission requirements.

Product innovation and geographical penetration are the key strategies undertaken by market players to remain competitive. For instance, in August 2014, Rudolf Riester GmbH launched a new stethoscope in the Indian market. The new stethoscope is embedded with cardiophon 2.0 and duplex 2.0 features that provide accurate diagnostics with minimum disturbances.

Report Scope

Attribute

Details

Base year for estimation

2016

Actual estimates/Historical data

2014 - 2016

Forecast period

2017 - 2025

Market representation                                                

Revenue in USD Million and CAGR from 2017 to 2025

Regional scope

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

Country scope

U.S., Canada, Germany, U.K., China, Japan, Brazil, Mexico, South Africa

Report coverage             

Revenue forecast, competitive landscape, growth factors and trends

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, & country levels and provides an analysis on industry trends in each of the sub segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global stethoscope market on the basis of type and region:

  • Type Outlook (Revenue, USD Million, 2014 - 2025)

    • Manual Stethoscopes

    • Electronic Stethoscopes

  • Regional Outlook (Revenue, USD Million, 2014 - 2025)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • U.K.

    • Asia Pacific

      • China

      • Japan

    • Latin America

      • Brazil

      • Mexico

    • Middle East & Africa

      • South Africa

Key questions answered by the report
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