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Global Stethoscopes Industry

Global Stethoscopes Industry

  • May 2021
  • 352 pages
  • ID: 5442589
  • Format: PDF
  • Global Industry Analysts

Summary

Table of Contents

MARKET IMPACT SURVEY - COVID-19 & LOOMING RECESSION

Timely market intelligence is paramount in these uncertain times!

We launched an impact survey to update this project with timely insights during 2020. Update frequency will depend upon evolving market conditions and executive opinions. Our participants are executives driving strategy, marketing, sales and product management at competitive companies worldwide. All updates during the rest of the year are complimentary to clients!

Abstract:

Global Stethoscopes Market to Reach $514.7 Million by 2026

Hanging around virtually every physician`s neck, the stethoscope is testimony to the clinical importance of auscultation, despite its limitations. It continues to be a trusted, proven and economical diagnostic tool and is a universal and enduring symbol of the medical profession. Eavesdropping on the noisy workings of the organs still remains the best way to examine patients. However, skill and experience of the physician play a key role in successful auscultation diagnosis. Reasons why auscultation is still an important part of physical examination of patients are many. For example, respiratory sounds like wheeze, rhonchi, crackles, stridor, egophony, bronchophony and whispered pectoriloquy can help identify abnormal lung conditions. Crackles can indicate excessive fluid secretion in airways and can guide physicians towards a possible diagnosis of a lung infection. Cardiac auscultation sounds like systolic murmurs, diastolic murmurs, continuous murmurs, pericardial friction rub can indicate abnormalities in valve opening and closure. Stethoscopes can pick up heart sounds which even echocardiography systems cannot. Auscultation of the gastrointestinal system helps identify abnormal bowel sounds made by the movement of the intestines.

Amid the COVID-19 crisis, the global market for Stethoscopes estimated at US$385 Million in the year 2020, is projected to reach a revised size of US$514.7 Million by 2026, growing at a CAGR of 4.3% over the analysis period. Manual & Mechanical Stethoscopes, one of the segments analyzed in the report, is projected to grow at a 4.1% CAGR to reach US$271.3 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Electronic Stethoscopes segment is readjusted to a revised 5.1% CAGR for the next 7-year period. This segment currently accounts for a 15% share of the global Stethoscopes market.

The U.S. Market is Estimated at $111 Million in 2021, While China is Forecast to Reach $102.8 Million Units by 2026

The Stethoscopes market in the U.S. is estimated at US$111 Million in the year 2021. The country currently accounts for a 27.02% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$102.8 Million in the year 2026 trailing a CAGR of 6.9% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.5% and 3.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.1% CAGR while Rest of European market (as defined in the study) will reach US$105.9 Million by the end of the analysis period.

The market stands to benefit from a combination of favorable macroeconomic factors such as aging population, growing healthcare needs, increasing healthcare access and spending in both developed and developing countries; growth in physician clinics and practice; changing roles of frontline healthcare workers coupled with the expanding base of healthcare workers comprising critical care nurses, emergency medical technicians, general practitioners, medical students, pediatric specialists, registered nurses. Continued enhancements in stethoscope design and acoustic performance will also help spur gains in growth. Improving stethoscope acoustics remains the guiding goal and objective of all product R&D efforts and recent advancements worthy of note include amplified sound output; improved frequency range; and external noise cancellation technology. Digital stethoscopes especially are gaining in popularity in the field of cardiology and pulmonary. A key benefit of these stethoscopes is their ability to detect and record cardiac murmurs as low as 8 Khz. Focus on computer aided diagnosis is driving demand for digital stethoscopes with external flash memory chips for visualization of real-time recorded audio waveforms. Manual and mechanical stethoscopes will however continue to dominate the market, driven by their huge popularity among medical practitioners worldwide.

Esophageal Stethoscopes Segment to Reach $15 Million by 2026

In the global Esophageal Stethoscopes segment, USA, Canada, Japan, China and Europe will drive the 3. 8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$8. 6 Million in the year 2020 will reach a projected size of US$11. 2 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1. 9 Million by the year 2026, while Latin America will expand at a 4. 3% CAGR through the analysis period.

Select Competitors (Total 76 Featured)
  • 3M Company
  • American Diagnostic Corporation
  • Cardionics, Inc.
  • GF Health Products, Inc.
  • Medline Industries Inc.
  • NISCO (INDIA)
  • Rudolf Riester GmbH & Co. KG
  • Suzuken Co., Ltd.
  • Welch Allyn, Inc.
  • Yuwell-Jiangsu Yuyue Medical Equipment & Supply Co., Ltd.

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