Newark, March 27, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 200 million in 2022 global electronic stethoscope market will reach USD 393.43 million in 2032. Rapid urbanization, industrialization and the increasing number of automobiles on the road have contributed to the rising air pollution. Anthropogenic air pollution and climatic events have reduced air quality in major cities globally. The poor air quality has contributed to the rise in pulmonary diseases. The increased smoking has also augmented the rise in pulmonary diseases. These diseases are preventable and can be treated with the promise of full recovery if diagnosed early. The governments have increased funding to improve the monitoring, early detection, diagnosis, treatment and control of these preventable diseases to reduce the disease burden. The electronic stethoscope market will grow as a result of these initiatives.
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Key Insight of the Electronic stethoscope Market
North America is expected to dominate the market during the forecast period.
The region's healthcare stakeholders focus on implementing cutting-edge automated and digitalized medical technology, equipment, and services. The market for electronic stethoscopes will be driven by the rising prevalence of cardiovascular and pulmonary disorders due to changing lifestyles and an increasing senior population. The major market participants are headquartered in North America, where they foster medical innovation and guarantee a continuous flow of medical supplies to meet the expanding needs of the market. The improved diagnostic infrastructure, accessibility, and affordability of medical services for early detection and treatment due to increasing government healthcare expenditure will also augment the regional market’s growth.
In 2022, the amplifying stethoscopes segment dominated the market with the largest market share of 67% and market revenue of USD 134 million.
The product type segment is divided into amplifying stethoscopes and digitizing stethoscopes. In 2022, the amplifying stethoscopes segment dominated the market with the largest market share of 67% and market revenue of USD 134 million.
In 2022, the wireless transmission systems (Bluetooth) segment accounted for the largest market share, with 40% and a market revenue of USD 80 million.
The technology is divided into integrated chest-piece systems, integrated receiver head-piece systems, wireless transmission systems (Bluetooth) and others. In 2022, the wireless transmission systems (Bluetooth) segment accounted for the largest market share, with 40% and a market revenue of USD 80 million.
In 2022, the hospitals' segment accounted for the largest market share, with 36% and a market revenue of USD 72 million.
The end user is divided into hospitals, clinics, home care settings, catheterization laboratories, medical institutions, medical camps, ambulatory surgical centres and others. In 2022, the hospitals' segment accounted for the largest market share, with 36% and a market revenue of USD 72 million.
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Advancement in market
March 2023 - The Centre for Development of Advanced Computing (C-DAC) in Mohali, India, has created a wireless electronic stethoscope that allows doctors to diagnose a patient's heartbeat from afar. The patient can place the device—which resembles a hand-held computer mouse with a sensor diaphragm attached to one end—on their chest. When a nearby computer receives the data through Bluetooth from the device, it will be conveyed via the Internet to any location where the relevant doctor is available. The team created a special electronic stethoscope in two variations for the project, which C-DAC started. The next item on C-DAC's agenda is a smart stethoscope powered by artificial intelligence that will help medical professionals identify paediatric pneumonia.
Market Dynamics
Driver: Cardiovascular diseases' rising prevalence and incidence.
Cardiovascular diseases are becoming more common as a result of changing lifestyles brought on by an increase in processed food intake, a sedentary way of life, and a lack of exercise. The rising prevalence of heart illnesses is also attributed to rising cigarette, alcohol, and tobacco use. The majority of cardiovascular disorders, such as cardiac arrests, heart attacks, and strokes, are increasing due to rising stress levels in the general population. Heart illnesses are the leading cause of death worldwide and considerably add to the disease burden globally. With modern medical technological developments, these deaths are avoidable. Yet, ignorance, a lack of awareness, accessibility, and affordability result in irreparable harm. By raising awareness and providing accessible and inexpensive healthcare through attempts to implement universal health coverage, the government hopes to lessen the disease burden. The market for electronic stethoscopes will be driven by rising government healthcare spending as well as significant private investment in the medical industry. The general healthcare sector and the market for electronic stethoscopes will benefit from the population's growing knowledge of these illnesses and disorders and the strong diagnostic network that enables early disease diagnosis. Given its greater features and improved outcomes over conventional stethoscopes, the electronic stethoscope will be used for diagnosis and monitoring. Hence, the worldwide electronic stethoscope market will expand due to the rising prevalence and incidence of cardiovascular disorders.
Restraint: The high price of electronic stethoscopes.
An electronic stethoscope has many advantages over a traditional stethoscope for monitoring and diagnosis. These sophisticated medical devices can translate acoustic sounds into digital data to provide a more accurate evaluation of heart health. The gadget may boost noises and offers superior input values for accurate diagnosis and monitoring. Yet, the advanced technology employed is pricey. Electronic stethoscopes are more expensive than traditional stethoscopes because of the various systems, components, and production expenses. Because the public healthcare system in low- and middle-income countries is so underfunded, electronic stethoscopes are a luxury for these institutions. Due to the price of electronic stethoscopes, a sizeable amount of a potential market is lost, thereby limiting the market’s growth.
Opportunities: Innovations in both technology and products.
The global economy's success is driven by automation and the digitization of society. Their operations, businesses, and services are being automated and digitalized to increase production and efficiency across all economic sectors. The healthcare and pharmaceutical industries are moving their services towards automation and digitization. The expanding presence of private market participants fuels the sector's product innovation. Expanding research and development to produce better medical technologies to enhance healthcare services also contributes to the market's development. Electronic stethoscopes are also witnessing upgrades to offer greater sound quality. The public and private players in the healthcare industry driving technical developments and product innovations will provide lucrative prospects for the worldwide electronic stethoscope market during the forecast period.
Challenge: The repair is difficult and expensive.
In comparison to a traditional stethoscope, the various parts of an electronic stethoscope are more delicate and sensitive. With its frequent use and movement, these factors raise the likelihood that the electronic stethoscope may be damaged. Also, some electronic stethoscope types have limited movement, which deters hospitals from totally switching over from conventional stethoscopes to electronic ones. the damage to an electronic stethoscope cannot be fixed in isolation, the component or the entire product needs to be replaced in the majority of cases, and that will increase users' maintenance expenditures. The damaged parts are part of complex machinery that is intricately constructed and unable to tolerate extreme stress. The expansion of the market will be hampered by limited mobility, elevated risk of damage given its nature, and high repair costs.
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Report Scope
| Report Metric | Details |
| Revenue forecast in 2032 | USD 393.43 million |
| Growth Rate | CAGR of 7% from 2023 to 2032 |
| Base Year | 2022 |
| Study Period | 2023-2032 |
| Key Market Opportunities | Technological advancements and product innovations |
| Key Market Drivers | The growing incidence and prevalence of cardiovascular diseases |
Some of the major players operating in the electronic stethoscope market are:
• 3M
• AD Instruments
• American Diagnostic Corporation
• Cardionics Inc.
• Contec Medical Systems Co. Ltd.
• Eko Devices
• Global Media Group LLC
• HD Medical Inc.
• Meditech Equipment Co. Ltd.
• Rudolf Riester GmbH
Key Segments cover in the market:
By Product Type
• Amplifying Stethoscopes
• Digitizing Stethoscopes
By Technology
• Integrated Chest-Piece Systems
• Integrated Receiver Head-Piece Systems
• Wireless Transmission Systems (Bluetooth)
By End User
• Hospitals
• Clinics
• Homecare Settings
• Catheterization Laboratories
• Medical Institutions
• Medical Camps
• Ambulatory Surgical Centres
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Million). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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