Stethoscope Market Sales are expected to surpass US$ 914.1 Million by 2030: Future Market Insights, Inc.
With a stethoscope market value of $582.5 million in 2022 and progress expected at 5.8% annually to 2030, the global stethoscope industry is forecasted for sales volume growth reaching 914.1 Mn. by then. Sales of Electronic Stethoscopes is high due to improved healthcare infrastructure and low electronic stethoscope pricing.
NEWARK, Del., June 8, 2022 /PRNewswire/ -- The stethoscope being an integral part of the modern medical diagnosis sector, has been gaining significant traction. According to a recent study by Future Market Insights, the stethoscope market is forecast to expand at above 5.8% CAGR between 2020 and 2030.
Stethoscopes are one of the most important tools used by medical professionals to assess a patient's condition. In recent years, there has been a significant increase in the number of stethoscope manufacturers. This has led to a corresponding increase in the Stethoscope Market size.
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The Stethoscope Market is expected to continue to grow in the coming years. This growth is being driven by factors such as the increasing prevalence of chronic diseases, the aging population, and the need for better diagnosis and treatment of patients. With the increasing Stethoscope Market size, there is also an increasing demand for Stethoscope accessories.
Some of the most popular Stethoscope accessories include Stethoscope covers, Stethoscope holders, and Stethoscope cases. These accessories help to protect Stethoscopes from dirt and damage, and they also help to keep them organized and easy to use. With the increasing demand for Stethoscopes and Stethoscope accessories, it is expected that the Stethoscope Market will continue to grow in the coming years.
Some of the key takeaways from the report are as given below-
- The global stethoscope market is set to grow by 5.2% CAGR during the forecast period (2020-2030).
- Cardiovascular (CVS) disease being the main area of focus for the application of stethoscope in the medical sector, is to remain in the top factors for the increase in market demand
- By product acoustic stethoscope will keep leading the global market throughout the forecast period (2020-2030)
- Physician office, home care settings, hospitals and others to remain the top end-users catering to the market growth throughout the forecast period. Of these, demand from hospitals is set to be higher
- Region-wise North America and Latin America to lead the global market. Europe, South & East Asia, Oceania and MEA to sustain as other region-wise key players.
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Leading Companies Profiled in Stethoscope Market are
- 3M Company
- American Diagnostic Corporation
- Eko Devices Inc.
- Welch Allyn, Inc.
- Think Labs Medical LLC
- Meditech Equipment Co., Ltd.
- Contec Medical Systems
- Cardionics, Inc. (3B Scientific GmbH)
- A&D Medical
- GF Health Products, Inc.
- Rudolf Riester GmbH
- Rijuven Corporation
- eKuore
Rising Focus on Health and Wellbeing Boosting Growth
As people are getting more conscious about their health and well-being, the digitized sectors like stethoscope market is anticipated to expand further during the forecast period, reaching US$ ~ 917.1 Mn by the end of the year 2030.
The recent COVID-19 pandemic has even accelerated the growth of medical diagnosis which is resulting in the steady market growth over the years in future.
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Currently the global stethoscope market holds unlimited opportunities for the global market players and so, the dominant market holders have already started adopting various digitized tools and procedure to remain in the top places.
For instance, the digital Eko CORE has brought their advanced algorithms which can automatically screen patients and is capable of providing up to 40x amplification of acoustic sound along with advanced noise elimination technology, as well as the modern flexible feature of switching between digital and acoustic modes.
Key Segments Covered in Stethoscope Industry Survey
Stethoscope Market by Product:
- Acoustic Stethoscopes
- Amplifying Stethoscopes
- Digital Stethoscopes
Stethoscope Market by End Use:
- Physicians' Offices
- Home Care Settings
- Hospitals
- Others
Stethoscope Market by Region:
- North America Stethoscope Market
- Latin America Stethoscope Market
- Europe Stethoscope Market
- East Asia Stethoscope Market
- South Asia & Pacific Stethoscope Market
- Middle East & Africa (MEA) Stethoscope Market
COVID-19 Impact Analysis
Due the outbreak of novel coronavirus during the recent time, the demand of modern digitized stethoscopes has increased across the countries. The pandemic has created more awareness among the people as well as there is surge in the need of getting diagnosed earlier than the other times.
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These altogether have increased the global stethoscope market demand among the top end-users, starting from physicians to hospitals or home care providers.
As the increased concern regarding health, especially heart and lungs related issues tends to sustain, the COVID-19 impact on the global stethoscope market will be long-lasting, opening endless opportunities to the market players during the forecast period.
Who is winning?
The global stethoscope market being emerged as a highly potential domain for the market dominating companies, the key market holders are evolving by adoption of various modern technologies.
The leading Companies like, Think Labs Medical LLC, Rudolf Riester GmbH, Meditech Equipment Co., Ltd. and others have started their research and release of various brand-new products to expand further throughout the forecast period (2020-2030).
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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments based on Source, Application, Sales Channel and End-Use over the next 8-years.
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Website: https://www.futuremarketinsights.com
Report: https://www.futuremarketinsights.com/reports/stethoscope-market
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