Stethoscope Market

Global Stethoscope Market Size (2024 to 2029)

The global stethoscope market is estimated to be worth USD 622.62 million by 2029 and USD 489.70 million by 2024, growing at a CAGR of 4.92% during the forecast period.

MARKET DRIVERS

The growing patient population with chronic diseases and respiratory diseases is a key factor propelling the stethoscope market growth.

Mortalities from chronic and respiratory diseases are on the rise worldwide and the need for early detection and diagnosis has become crucial for effective treatment. WHO says CVDs cause an estimated 17.9 million deaths worldwide every year. Patients suffering from chronic and respiratory diseases require regular monitoring of health and healthcare providers frequently check the sound of the heart and lungs of these patients to confirm that their condition is being managed effectively. The stethoscope is an essential diagnostic tool for physicians in detecting and monitoring these diseases. Stethoscopes also play a key role in finding abnormal changes in the heart and lung sound and share an early indication of underlying health issues.

Technological developments in stethoscope design contribute to market growth. The stethoscope market has experienced several notable advancements in terms of the design of the devices in recent years. The manufacturers have brought several products to the market with improved design and features. The manufacturers of stethoscopes have introduced electronic stethoscopes in recent years and these devices offer improved sound quality and amplification and can record and analyze sounds. Such type of technological advancements has also made stethoscopes more effective and versatile diagnostic tools.

The growing healthcare expenditure favors the stethoscope market growth. The growing aging population and rising prevalence of chronic diseases have driven numerous investments in the development of novel medical devices including stethoscopes to meet the growing treatment needs of patients. The rising demand for telemedicine supports the growth of the stethoscope market. The demand for remote diagnostic tools, including stethoscopes has increased with the growing usage of telemedicine worldwide. Physicians have been using electronic stethoscopes that have recording and transmitting capabilities in remote consultations to remotely monitor the heart and lung sounds of patients and treat patients.

The growing awareness of the importance of regular health check-ups and early diagnosis, rising demand for healthcare services in emerging economies such as India and China, increasing prevalence of infectious diseases such as tuberculosis and pneumonia, and growing patient population of obesity, diabetes and hypertension further accelerate the demand levels for stethoscopes and drive the market growth. The growing usage of stethoscopes in POC testing and growing recognition of the importance of preventive healthcare fuel the market growth

MARKET RESTRAINTS

Factors restraining the growth of the global stethoscope market are the high production cost, insufficient skilled and trained healthcare providers, and lack of knowledge regarding high-end products impeding the market growth. Additionally, the distribution was restricted to only the most cutting-edge medical facilities, while the investigation and analysis of the data required the expertise of trained experts. Further, inadequate healthcare systems and very little access to health services in a few economies hinder the market demand.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Stethoscope Market Analysis By Product

Based on the product, the electronic stethoscope has the largest market share capturing 53% of the global market in 2023 and is expected to grow faster during the forecast period. The electronic segment was valued at around USD 200 million in 2020 from USD 165 million in 2015. Using the electron microscope in chronic disease cases will further accelerate the market's growth. Cardiovascular diseases are the major chronic illness that an electronic stethoscope can detect. CVD increases the mortality rate, and thus early detection is essential to diagnose the disease. The acoustic stethoscope has the second largest market share, 47%, and is expected to grow at a healthy rate but lower than the electronic stethoscope rate. Therefore, the acoustic stethoscope is also foreseen to dominate the market. It is the most widely used type of double-sided stethoscope, using a phenomenon of transmitting sound from air-filled hollow tubes from the chest piece to the listener's ears.

Global Stethoscope Market Analysis By Design

Based on the design, the single-head stethoscope is expected to grow at 5.6% CAGR during the forecast period. This stethoscope is pressure-sensitive and has a single-sided chest piece that allows the user to record different frequencies without flipping the chest piece. These products are helpful for cardiovascular doctors and help them in various ways of detecting problems.

Double-head and triple-head stethoscopes have the second and third-largest market share, with positive growth projected in the future. A dual-head stethoscope allows the user to hear different sound frequencies through the cup side and opposite flat sides to listen to low-frequency lung sounds and high-frequency heart sounds, respectively. With the help of the three-headed stethoscope, we can hear heart, lung, and vascular sounds without challenging varying pressure procedures. It is specially intended to highlight critical sounds.

Global Stethoscope Market Analysis By Usability

Based on its usability, the reusable stethoscope has a significant market share, with most equipment being a one-time buy and holding a 90% share in the market. Furthermore, the advantages of the stethoscope in detecting human internal conditions will further accelerate the market. Single-use or disposable stethoscopes are prophesied to show high dominion in the market due to their ability to prevent cross-contamination with the ultra-responsive plastic cover feature for outstanding acoustic performance. They are available in plastic, binaural chrome brass, aluminum chest piece, and optional binaural to provide a comfortable fit for all users and excellent sound transmission to both ears.

Global Stethoscope Market Analysis By Tube Type

The double tube dominates the segment based on the tube type and is expected to grow reasonably during the forecast period. The double tube provides individual sound to both ears and gives clarity in judging the sounds in a busy outside environment. Therefore, it is expected to grow at a 6% CAGR during the forecast period. On the other hand, the single-tube stethoscope has second place in market share and is expected to grow reasonably as the overall demand increases. Only one tube is connected to the chest piece in a single-tube stethoscope, which then splits into two, going into either ear of the user, whereas the Dual tube stethoscopes have two tubes, each running from the chest piece to the ear. Single-tube stethoscopes are for general use, allowing focus on high or low-frequency sounds with clear, wide-frequency sound output.

Global Stethoscope Market Analysis By End-User

Based on the end-user, the hospitals and physician office segments have the largest market share among all the segments. The growth is projected at a reasonable rate during the forecast period. The development is supported by more focus on governments providing healthcare and various initiatives taken at the global level on delivering healthcare services in all parts of the world.

Ambulatory services have a fair market share because of improved healthcare quality worldwide. As a result, the ambulance network establishment will further drive growth.

Academic institutes constitute a small market share but are expected to profitable growth because of more institutes' openings with proper facilities.

REGIONAL ANALYSIS

Geographically, the North American region had the major share of the global stethoscope market in 2023 and the domination of the regional market is anticipated to continue during the forecast period. The availability of well-established healthcare infrastructure, high healthcare expenditure, growing prevalence of chronic diseases and cardiovascular disorders, technological advancements in stethoscope design and digital auscultation majorly drive the growth of the stethoscope market in the North American region. The presence of key market players and strong distribution networks, growing demand for advanced diagnostic tools and devices and rising emphasis on telehealth and remote patient monitoring further boost the growth rate of the North American market.

Europe held the second biggest share of the global market in 2023 and is expected to grow at a promising CAGR during the forecast period. Stringent regulations promoting patient safety and product quality, growing adoption of telemedicine and remote patient monitoring and rising demand for advanced electronic stethoscopes drive the European market growth.

The Asia-Pacific stethoscope market is estimated to register the fastest CAGR in the worldwide market during the forecast period. The growing number of improvements in the healthcare infrastructure, rising healthcare expenditure, growing awareness of preventive healthcare and regular check-ups and rising demand for cost-effective and portable stethoscope devices promote the APAC market growth.

The Latin American market is expected to rise at a healthy growth rate due to a large population and high population increase, which will require more and better healthcare services than the current period.

KEY MARKET PLAYERS

3M, Medline Industries, Inc., Welch Allyn (Hill - Rom Holdings, Inc.)., Eko Devices Inc., Gf Health Products, Inc., Rudolf Riester Gmbh (Halma Plc.), American Diagnostics Corporation, Cardionics, And Heine Optotechnik Gmbh & Co. Kg are a few of the companies dominating the global stethoscope market.

Technologically advanced devices and new product launches are some of the effective strategies key market players adopted to maximize their market share in the past.

RECENT MARKET DEVELOPMENTS

• In August 2022, a digital health company, Eko, collaborated with Caregility, a telehealth platform company, to develop an integrated intelligent stethoscope platform to deliver real-time phonocardiogram and electrocardiogram images along with live stethoscope audio to the interface.
• In September 2022, the Brihanmumbai Municipal Corporation (BMC) introduced Bluetooth-enabled digital stethoscopes AyuSynk, to Zion Hospitals and BYL Nair Hospitals, with the help of a start-up, which has the capability of detecting remote auscultation and storing of auscultated sound as part of the patient's clinical history, allowing the maintenance of safe distance in infectious diseases.

DETAILED SEGMENTATION OF THE GLOBAL STETHOSCOPE MARKET INCLUDED IN THIS REPORT

This market research report on the global stethoscope market has been segmented and sub-segmented based on the product, design, usability, tube type, end-user, and region.

By Product

• Electronic
• Acoustic

By Design

• Single Head
• Double Head
• Triple Head

By Usability

• Reusable
• Disposable

By Tube Type

• Single Tube
• Double Tube

By End-User

• Hospitals
• Physician Office
• Ambulatory Surgical Centers
• Urgent Care Centers
• Academic Institutes
• Others

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa