The global stethoscopes market size to be $371m in 2018, and projects the demand to rise at a CAGR of 6.10% during the forecast period 2019-2025.
Hyderabad, India - July 8, 2019 /MarketersMedia/ —
Stethoscopes Market Overview
Despite the many technological advancements in the medical field, the stethoscope has always remained the primary tool for doctors. The products in the stethoscope market vary depending on their auscultation response and the manufactured brand. The stethoscopes market report published by IndustryARC estimated the global stethoscopes market size to be $371m in 2018, and projects the demand to rise at a compound annual growth rate (CAGR) of 6.10% during the forecast period 2019-2025. The report covers stethoscope market size by Product type, stethoscope market share by top 5 companies and an in-depth analysis of the market trends and strategic analysis of the global stethoscope market.
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Stethoscopes Market: Leading Segments
Based on their usage, stethoscopes are classified into standard, electronic, veterinary, fetal, cardiology, and pediatric stethoscopes. Modern stethoscopes are highly advanced and sensitive and are improving further. Doctors choose stethoscopes based on their basic principle of auscultation performance and identification of sounds in the body. These stethoscopes are extensively used in medical universities, learning centers, and hospitals. Electronic stethoscopes are broadly used in hospitals, especially in cardiology and pulmonology departments for data preprocessing, signaling, and data acquisition of the sounds and their characteristics. With the increasing healthcare expenditure and technological advancements, the hospitals end-user segment is projected to grow at a CAGR of 4.70% during the forecast period 2019-2025.
North America is home to a large number of stethoscope manufacturers and technology innovators, owing to the high incidence of cardiovascular diseases in the region. According to the Centers for Disease Control and Prevention, the U.S. accounts for more than 600,000 deaths associated with cardiovascular diseases every year. Multiple cardiopulmonary conditions can be treated in a timely manner using digital stethoscopes. Major health care organizations in the U.S. are undertaking research to enhance digital stethoscope using Artificial Intelligence (AI) and sensor technology. North America held41% share of the global stethoscope market in 2018.
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Stethoscopes Market: Disruptive Trends
Wireless electronic stethoscopes are anticipated to be commercialized in the near future.
Artificial Intelligence is helping the health care industry transition to newer heights. Northwestern Medicine of the U.S. along with Eko, is working on a smart stethoscope (CORE) that can enable doctors to manage cardiovascular diseases with the help of machine learning.
Manufacturers of amplifying stethoscopes are teaming up with software companies to enhance the functionalities of stethoscopes.
Stethoscopes Market: Competitive Landscape
3M, American Diagnostic Corporation, Welch Allyn, CliniCloud, Dongjin Medical, Cardionics, Eko Devices, GF Health Products, Medline Industries, and Rudolf Riester are some of the key players in the global Stethoscopes market.
Related Reports:
A. Japan Stethoscopes Market
https://www.industryarc.com/Report/19084/japan-stethoscopes-market
B. Artificial Intelligence in Healthcare
https://www.industryarc.com/Report/17910/artificial-intelligence-market-in-healthcare.html
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