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Stethoscope Market 2020 By Regional Trend & Growth Forecast To 2026

Author : Ronak Bora | Published Date : 2020-09-07 

Stethoscope Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

A significant rise has been witnessed in cardiac and pulmonary ailments among older population, driving global stethoscope market trends. Young and middle aged populace is also suffering from cardiovascular diseases and obesity owing to adoption of unhealthy lifestyle and minimal physical activity.

This is resulting in growing healthcare expenditure and will positively impact stethoscope industry growth. Expanding geriatric population base suffering from chronic disorders coupled with mounting need for advanced diagnostic devices will fuel the demand for healthcare services.

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Moreover, increased spending on R&D activities and recent technological advancements by the major healthcare providers may change the industry landscape. Introduction of advanced diagnostic devices such as electronic stethoscope with wireless Bluetooth technology is likely to fuel product penetration over the coming years. Global stethoscope market size is forecast to surpass USD 520 million by 2026.

Elaborating on product spectrum, stethoscope market is segmented into electronic and acoustic stethoscopes. Among these, electronic stethoscopes are expected to gain significant traction due to several advantages, such as ambient noise reduction, accurate reading in lesser time, record & replay abilities, amplified sound output, better visual display, and enhanced frequency range.

These benefits are anticipated to lead electronic stethoscope segment to witness a 5.5% CAGR over 2020-2026.

The usability segment of stethoscope industry can be bifurcated into disposable and reusable. The disposable or single-use stethoscopes are being highly adopted by medical experts owing to the increasing awareness pertaining to the prevention of disease transmission and cross-contamination.

Several healthcare centers issue patients with disposable stethoscope and do not allow staff to use their own. These factors are likely to push the growth of disposable stethoscope segment to register a 6% CAGR over the forecast period.

Considering the material segment, stethoscopes are bifurcated into aluminum, acrylic resin, chrome-plated zinc, silicone, stainless steel, wooden, molded resin, and others. In 2019, stainless-steel stethoscope segment accounted for more than $150 million.

These devices are good sound conductors and highly durable. In accordance, stainless-steel stethoscope market is likely to record a 4.5% CAGR over 2020-2026.

Based on the end-use segment, stethoscope industry is divided into physician offices, urgent care centers, hospitals, urgent care centers, and others. Among these, in 2019, ambulatory surgical centers segment accounted for almost $78 million.

The National Health Statistics states that in the U.S., around 47% of the surgical procedures are performed in ambulatory surgical centers annually. People are inclining more towards outpatient procedures, which will accentuate the use of stethoscopes in ASCs.

Taking the regional landscape into consideration, Germany is likely to be at the forefront of Europe stethoscope market. In 2019, Germany stethoscope industry accounted for almost $26 million and is expected to grow at an appreciable pace in the near future. The growth can be accredited to the increasing prevalence of deaths due to cardiovascular diseases.

The country has a record of around 40% of deaths occurring from cardiovascular diseases out of the total deaths in the nation. This has intensified the demand for precise and proper early diagnosis. Also, an increasing number of physicians and advancing healthcare facilities will be major driving factors for the regional industry expansion. 

Browse full table of contents (TOC) of this report @ https://www.gminsights.com/toc/detail/stethoscope-market

Partial Chapter of the Table of Content 

Chapter 5.  Stethoscope Market, By Design

5.1. Key segment trends

5.2. Single Head

5.2.1.  Market size, by region, 2015 – 2026 (USD Million)

5.2.2.  Market size, by region, 2015 – 2026 (Units)

5.3. Double Head

5.3.1.  Market size, by region, 2015 – 2026 (USD Million)

5.3.2.  Market size, by region, 2015 – 2026 (Units)

5.4. Triple Head

5.4.1.  Market size, by region, 2015 – 2026 (USD Million)

5.4.2.  Market size, by region, 2015 – 2026 (Units)

Chapter 6.  Stethoscope Market, By Usability

6.1. Key segment trends

6.2. Reusable

6.2.1.  Market size, by region, 2015 – 2026 (USD Million)

6.2.2.  Market size, by region, 2015 – 2026 (Units)

6.3. Disposable

6.3.1.  Market size, by region, 2015 – 2026 (USD Million)

6.3.2.  Market size, by region, 2015 – 2026 (Units)

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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