Electronic Stethoscope Market sales are expected to surpass US$ 259 Million, increasing by 2.2x between 2022 and 2029 - Comprehensive Research Report by FMI

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Electronic Stethoscope Market - Analysis, Outlook, Growth, Trends, Forecasts

DUBAI, United Arab Emirates, Jan. 17, 2022 (GLOBE NEWSWIRE) -- Global Electronic Stethoscope Market was valued at US$ 170.9 Mn in 2021 and the sales are expected to surpass US$ 259 Mn, increasing by 2.2x between 2022 and 2029. Demand in the market is expected to surge with growing prevalence of cardiovascular diseases and advent of advanced technology in healthcare sector.

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.

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Electronic Stethoscope Market Size Value in 2022

US$ 259 Mn

Electronic Stethoscope Market Size Value in 2029

US$ 369 Mn

Electronic Stethoscope Market Historical CAGR (2014-2021)

5.3%

Electronic Stethoscope Market Value-based CAGR (2022-2029)

6.1%


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.

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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.

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.

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Scope of the Report

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Details

Forecast Period

2022-2029

Historical Data Available for

2014-2021

Market Analysis

US$ Mn for Value

Key Regions Covered

North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA

Key Countries Covered

United States, Canada, Brazil, Mexico, Germany, UK, France, Italy, Spain, Nordic, Russia, Poland, China, India, Thailand, Indonesia, Australia and New Zealand, Japan, GCC countries, North Africa, South Africa, others.

Key Market Segments Covered

Product, Application, End user, and Region

Key Companies Profiled

• Eko Devices

• eKuore, Global Media Group LLC,

• 3M, AD Instruments

• Thinklabs, Meditech Equipment, Co. Ltd.

• Ambisea Technology Corp

• HD Medical Inc.

• Cardionics Inc.

• Others

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.

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.

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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.

About the Healthcare Division at Future Market Insights

Future Market Insights facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you in devising innovation-driven trajectories for your business. Know more about our sector coverage here

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