Electronic Stethoscope Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.10 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Electronic Stethoscope Market Analysis
The electronic stethoscope market studied is expected to grow with an anticipated CAGR of 5.1% during the forecast period.
COVID-19 had a significant impact on the growth of the market during the pandemic period. The COVID-19 outbreak increased the demand for electronic stethoscopes. For instance, Thinklabs One, an electronic stethoscope, was launched in May 2020 to keep healthcare professionals safe during the pandemic. Because auscultation of the lungs was generally the first procedure used to determine whether the lungs were infected with COVID-19 or not, there has been an increase in demand for stethoscopes among end-users ranging from physicians to hospitals or home care providers.This triggered a sudden surge in the market for stethoscopes, creating numerous prospects for market players. In addition, the market growth is stabilizing in the current scenario after COVID-19 as the worldwide restrictions have eased and the disease screening services have been resumed.
The features of the electronic stethoscope, such as variable amplification of sound, minimal interference from noise, and the ability to capture signals for visualization and storage, have provided a lucrative opportunity for the tremendous growth of the electronic stethoscope market.
The increase in the global geriatric population, the high prevalence of cardiovascular and pulmonary diseases, rising demand for teleconsultation, and advancements in the technology for sophisticated medical devices are the major drivers of the growth of the global electronic stethoscope market. According to the data published by the United Nations Department of Economic and Social Affairs in its Population Report: World Population Prospects published in 2022, the global population aged 65 years or older is projected to rise from 771 million in 2022 to 1.6 billion in 2050. Such a rising geriatric population creates the need for an electronic stethoscope, as the geriatric population is at high risk of various chronic diseases that would require an electronic stethoscope for this population.
Moreover, according to CDC data updated in February 2022, the percentage of adults who had a visit with a doctor or other health care professional in the United States was 83.4% in 2020. The number of visits in the United States was 860.4 million, and the percentage of visits made to primary care physicians was 51.2%. Therefore, the increase in average patient visits to physicians is also expected to drive the market during the forecast period.
Furthermore, in November 2021, eMurmur, a technology partner to the global healthcare community, launched the world's first open software platform for advanced digital auscultation (stethoscope technology) available in the United States. Such launches also propel the growth of the market.
Given these key factors, the electronic stethoscope market is anticipated to surge over the forecast period. However, interference with other electronic devices and the high cost of devices are expected to restrain the growth of the market during the forecast period.
Electronic Stethoscope Market Trends
This section covers the major market trends shaping the Electronic Stethoscope Market according to our research experts:
The Wireless Transmission System is Expected to Occupy a Significant Share in the Electronic Stethoscope Market Over the Forecast Period
The progression of Bluetooth technology has paved the way for the innovation of wireless stethoscopes. This helps healthcare providers listen to patients without any physical contact. The wireless electronic stethoscopes assist physicians in the contactless evaluation of patients, thereby protecting themselves from various infectious pathogens. With the increasing demand for teleconsultation services in recent years, wireless electronic stethoscopes help healthcare providers analyze and share auscultations across the globe in real-time. Given these factors, the wireless transmission system-based electronic stethoscope market is expected to grow tremendously over the forecast period.
Also, the increasing number of product launches is expected to contribute to the growth of the studied segment during the forecast period. For instance, in June 2021, 3M Littmann stethoscopes and Eko launched the 3M Littmann CORE digital stethoscope in the United Kingdom and Ireland. When these kinds of technologically advanced products come out all over the world, they help the market segment grow.
Moreover, in August 2021, Caregility and Eko announced an integration partnership. Caregility's cloud platform now seamlessly integrates with Eko's smart stethoscopes and software, enabling users of Caregility's iConsult application to perform high-quality auscultation (heart, lung, and other body sounds) on patients during a virtual physical exam.
Thus, the growth of the studied segment is likely to be driven by the above factors during the forecast period.
North America is Anticipated to Witness a Healthy Growth in Electronic Stethoscope Market Over the Forecast Period
The major factors driving the growth of the Electronic Stethoscope Market in North America are the increasing geriatric population, the high prevalence of chronic illnesses such as cardiac and pulmonary diseases, the existence of most of the major players, and the high adoption of advancing technology.
According to data from the CDC that was last updated in July 2022, coronary heart disease is the most common type of heart disease. In 2020, it will affect about 20,1 million 20-year-old and older adults in the United States. Additionally, as per the CDC data, every 40 seconds someone suffers from a heart attack, and nearly 805,000 people in the United States have a heart attack every year. This shows that there is a rising demand for medical expertise and devices to combat chronic diseases.
The growing geriatric population in the region is also propelling the growth of the market. For instance, as per the Statistics Canada 2021 census, there were around 7,021,430 people aged 65 years or above, out of which 3,224,680 were males and 3,796,750 were females. As the aging population is most vulnerable to various diseases, a health check-up has become mandatory, thereby driving the demand for stethoscopes across healthcare settings.
Furthermore, various key strategies by the key market players, such as partnerships, mergers, and acquisitions, are expected to boost the market in the region. For instance, in April 2022, Sanolla launched the AI-ready VoqX infrasound stethoscope with the FDA for clinical usage in the United States. Similarly, in June 2021, HD Medical launched HD Steth. HD Medical recently introduced Stethoscope.com as a key online distribution partner in the United States. Furthermore, the presence of well-established healthcare infrastructure is also fueling the growth of the overall regional market to a large extent.
So, because of the things listed above, the market is likely to grow over the next few years.
Electronic Stethoscope Industry Overview
The electronic stethoscope market is moderately consolidated, with a few players dominating the market. The key players are taking strategic initiatives, such as acquisitions and partnership agreements, to strengthen their position in the market. 3M and American Diagnostic Corporation are two of the market's major players. Cardionics, Contec Medical Systems Co., Ltd., ThinkLabs Medical LLC, eKuore, Hill-Rom Services, and Meditech Equipment Co., Ltd.
Electronic Stethoscope Market Leaders
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American Diagnostic Corporation
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AD Instruments
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Contec Medical Systems Co., Ltd.
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3M
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Cardionics
*Disclaimer: Major Players sorted in no particular order
Electronic Stethoscope Market News
- May 2022: 3M received honorable mention accolades in the health category of the 2022 Fast Company world-changing ideas for the launch of the 3M Littmann CORE digital stethoscope.
- April 2022: CDCA Mohali launched the first AI-enabled stethoscope suitable for telemedicine.
Electronic Stethoscope Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 High Prevalence of Cardiovascular and Pulmonary Diseases
- 4.2.2 Advancements in New Technology of Electronic Stethoscope
- 4.2.3 Rising Demand for Teleconsultation
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4.3 Market Restraints
- 4.3.1 High Cost of Device
- 4.3.2 Interference with Other Electronic Devices
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4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
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5.1 By Product
- 5.1.1 Amplified Electronic Stethoscopes
- 5.1.2 Digital Electronic Stethoscopes
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5.2 By Technology
- 5.2.1 Integrated Chest-Piece System
- 5.2.2 Wireless Transmission System
- 5.2.3 Integrated Receiver Head-Piece System
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5.3 By End User
- 5.3.1 Hospitals and Clinics
- 5.3.2 Ambulatory Surgery Centers
- 5.3.3 Others
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5.4 Geography
- 5.4.1 North America
- 5.4.1.1 United States
- 5.4.1.2 Canada
- 5.4.1.3 Mexico
- 5.4.2 Europe
- 5.4.2.1 Germany
- 5.4.2.2 United Kingdom
- 5.4.2.3 France
- 5.4.2.4 Italy
- 5.4.2.5 Spain
- 5.4.2.6 Rest of Europe
- 5.4.3 Asia-Pacific
- 5.4.3.1 China
- 5.4.3.2 Japan
- 5.4.3.3 India
- 5.4.3.4 Australia
- 5.4.3.5 South Korea
- 5.4.3.6 Rest of Asia-Pacific
- 5.4.4 Rest of the World
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 3M
- 6.1.2 American Diagnostic Corporation
- 6.1.3 Cardionics
- 6.1.4 AD Instruments
- 6.1.5 Contec Medical Systems Co., Ltd.
- 6.1.6 Thinklabs Medical LLC.
- 6.1.7 eKuore
- 6.1.8 HD Medical
- 6.1.9 Meditech Equipment Co., Ltd.
- 6.1.10 Eko
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityElectronic Stethoscope Industry Segmentation
As per the scope of the report, electronic stethoscopes convert the acoustic sound waves obtained from the body into electrical signals, which are then amplified and processed for optimal listening and diagnosis. The electronic stethoscopes are accompanied by computer-aided auscultation programs and software that help in recording and visualizing the sounds for precise and early diagnosis of the disease condition. The electronic stethoscope market is segmented by product (amplified electronic stethoscopes and digital electronic stethoscopes), technology (integrated chest-piece system, wireless transmission system, and integrated receiver head-piece system), end user (hospitals and clinics, ambulatory surgery centers, and others), and geography (North America, Europe, Asia-Pacific, the Middle East and Africa, and South America). The report offers the value (in USD million) for the above segments.
| By Product | Amplified Electronic Stethoscopes | |
| Digital Electronic Stethoscopes | ||
| By Technology | Integrated Chest-Piece System | |
| Wireless Transmission System | ||
| Integrated Receiver Head-Piece System | ||
| By End User | Hospitals and Clinics | |
| Ambulatory Surgery Centers | ||
| Others | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Rest of the World |
Electronic Stethoscope Market Research FAQs
What is the current Global Electronic Stethoscope Market size?
The Global Electronic Stethoscope Market is projected to register a CAGR of 5.10% during the forecast period (2024-2029)
Who are the key players in Global Electronic Stethoscope Market?
American Diagnostic Corporation, AD Instruments, Contec Medical Systems Co., Ltd., 3M and Cardionics are the major companies operating in the Global Electronic Stethoscope Market.
Which is the fastest growing region in Global Electronic Stethoscope Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Electronic Stethoscope Market?
In 2024, the North America accounts for the largest market share in Global Electronic Stethoscope Market.
What years does this Global Electronic Stethoscope Market cover?
The report covers the Global Electronic Stethoscope Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Global Electronic Stethoscope Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Global Electronic Stethoscope Industry Report
Statistics for the 2024 Global Electronic Stethoscope market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Global Electronic Stethoscope analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
