Electronic Stethoscope Market Poised for Significant Growth, Expected to Reach USD 528 Million by 2034 at a 6.10% of CAGR

Posted on 2024-09-03 by Future Market Insights in Healthcare, Pharmaceuticals // 0 Comments

Electronic Stethoscope Market

The electronic stethoscope market is set for substantial expansion, according to the latest report by Future Market Insights (FMI). The market is projected to be valued at USD 292.2 million in 2024 and is expected to achieve USD 528.2 million by the end of 2034, reflecting a robust compound annual growth rate (CAGR) of 6.10% over the next decade.

The surge in market growth is driven by several key factors, including the increasing prevalence of cardiovascular diseases and advancements in healthcare technology. Electronic stethoscopes are gaining popularity for their enhanced diagnostic capabilities and integration with modern medical systems, contributing to their growing adoption among healthcare professionals.

In addition to technological advancements, the rising emphasis on preventative care is further fueling the demand for electronic stethoscopes. These devices play a crucial role in early detection and management of cardiovascular conditions, aligning with broader trends in healthcare towards proactive and preventive approaches.

More than half of the overall sales is accounted by amplifying electronic stethoscopes, as indicated by FMI’s analysis. While amplifying electronic stethoscopes provide results as accurate as digitizing electronic stethoscopes, the latter are associated with high maintenance owing to the presence of multiple electronic components. Amplifying electronic stethoscopes are thus expected to observe significant growth in revenue over coming years.

According to the report, the market attractiveness of amplifying stethoscopes is strongly backed by the increasing number of launches of new electronic stethoscopes by some small- and medium-sized companies. Electronic stethoscopes are rapidly replacing conventional variants across developed countries, predominantly owing to accelerated regulatory approvals.

eKuore had launched the first wireless stethoscope for medical use.
Eko had launched the first Android–connected digital stethoscope.
In April 2018, Steth IO launched a digital smartphone-enabled stethoscope.

According to the report, approximately 60% of the electronic stethoscopes that are sold are enabled with Bluetooth technology and an integrated chest piece system. The former is however poised to witness a higher rate of adoption over the coming years.

North America Continues to Lead the Electronic Stethoscope Market

North America holds a considerable revenue share in the electronic stethoscopes market. With advancements in technology and the presence of a large number of healthcare facilities, electronic stethoscopes are being widely used in the region. Their ability to provide amplified sound output as well as reduce external sound makes it easy for medical professionals to detect sounds and provide proper treatment to patients.

FMI’s study has profiled some of the key companies operating in the global electronic stethoscopes market, including Eko Devices, eKuore, GlobalMed, 3M, Welch Allyn, Ambisea Technology Corp., Meditech Equipment Co., Ltd, HD Medical, Thinklabs, ADInstruments, and Cardionics Inc.

A Old Full Report Analysis Click Here
Electronic Stethoscope Market by Category Product:

Amplifying Stethoscopes
Digitizing Stethoscopes

End User:

Hospitals
Clinics
Medical Institutes
Ambulatory Surgical Centers
Homecare Settings
Medical Camps
Catheterization Laboratories

Application:

Integrated Chest-Piece System
Wireless Transmission System (Bluetooth)
Integrated Receiver Head-Piece System
Other

Author by

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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