Stethoscope Market Will Grow at a Steady Rate of 4.7% from 2014 to 2025: Grand View Research, Inc.
The
global stethoscope market is expected to reach USD 522.6
million by 2025, according to a new report by Grand View Research, Inc. The
global increase in cardiac and pulmonary diseases is likely to drive the market
during the forecast period.
Furthermore,
increase in investments by key companies and government agencies for
development and commercialization of various innovative, accurate, and improved
frequency, easy-to-use stethoscopes is likely to drive the market. For
instance, in October 2015, Rijuven Corporation launched a new FDA-approved device,
CardioSleeve, for pediatric use with electrocardiography skills to convert any
existing stethoscope into a smart mobile-connected device with digital
auscultation, digital analysis, arrhythmia, or murmur, which can identify heart
failure.
Entry
of various electronic stethoscopes in the market is likely to drive the segment
at the fastest rate during the forecast period. In August 2015, Eko launched
the first Android-connected digital stethoscope that amplifies 40X and enables
wireless streaming of heart and lung sounds via a mobile app. This device
received Class II FDA approval and is compatible with iOS.
Browse full
research report on Stethoscope Market: www.grandviewresearch.com/industry-analysis/stethoscopes-market
Further key
findings from the report suggest:
- Growing geriatric population, increasing
healthcare expenditure, and availability of technologically advanced stethoscopes
are some of the factors expected to boost the market in the coming years
- The manual stethoscope segment accounted for
the highest share of the market in 2016 and is expected to witness
significant growth during the forecast period. This can be attributed to
the availability of several products with advanced tunable technology that
provides improved clinical accuracy to monitor the cardiac rate.
- The electronic segment is expected to be the
fastest growing segment in coming years owing to the introduction of
innovative products that can be connected to a computer and enable storage
for further analysis & transmission of recorded sounds.
- Geographically, North America was the major
contributor to the stethoscope market in 2016. It is anticipated to maintain
its dominance during the forecast period due to the launch of advanced
products, greater adoption of portable ultrasound stethoscope systems for
early detection, and increase in prevalence & diagnosis of
lifestyle-associated diseases.
- Asia Pacific is likely to witness significant
growth over the next decade owing to the presence of local and key market
players in the region, growing geriatric population, and increasing
healthcare expenditure in major markets such as Japan and China. Asia
Pacific is expected to grow at a CAGR of around 5% from 2017 to 2025
- Some of the key players are 3M; Medline
Industries, Inc.; Welch Allyn; GF Health Products, Inc.; Rudolf Riester
GmbH; American Diagnostic Corporation; Cardionics; Heine Optotechnik GmbH
& Co. KG; and Smiths Medical.
Browse more
reports of this category by Grand View Research: www.grandviewresearch.com/industry/clinical-diagnostics
Grand View Research has segmented the global stethoscope market on the
basis of type and region:
Type
Outlook (Revenue, USD Million, 2014 - 2025)
- Manual
Stethoscopes
- Electronic
Stethoscopes
Regional
Outlook (Revenue, USD Million, 2014 - 2025)
- North
America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- Asia
Pacific
- China
- Japan
- Latin
America
- Brazil
- Mexico
- Middle
East & Africa
- South
Africa
Access
Press Release By Grand View Research: www.grandviewresearch.com/press-release/global-stethoscope-market
About Grand
View Research:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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