Global Stethoscope Market Size (2024 - 2029)

The stethoscope market is projected to experience growth over the forecast period, driven by an increasing prevalence of chronic diseases, particularly cardiovascular and pulmonary conditions, which heighten the demand for regular check-ups. The market's expansion is further supported by the introduction of technologically advanced products, such as smart stethoscopes, and strategic collaborations among key players. However, the market's growth may face challenges due to the rising adoption of advanced preliminary testing devices.

Market Size of Global Stethoscope Industry

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Stethoscope Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 4.50 %
Fastest Growing Market Asia-Pacific
Largest Market North America
Market Concentration Medium

Major Players

Stethoscope Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Stethoscope Market Analysis

During the time frame of the forecast, the stethoscope market is expected to grow at a CAGR of 4.5%.

The impact of the COVID-19 outbreak on the market was substantial owing to growing infections and direct contact with the patients. However, the advantages of the stethoscope must be logically weighed against the risks, as COVID-19 sparked an era of enhanced infection control awareness. The use of the stethoscope was extensive among various medical specialists, such as nurses and respiratory therapists. For instance, an article published in Elsevier Public Health Emergency Collection in February 2021 reported that numerous studies have raised concerns regarding stethoscopes as potential infection vectors. The contamination of the stethoscope was significant even after a single physical exam of the patient. On the other hand, a touch-free stethoscope diaphragm dispenser might be a good fit for this requirement. Therefore, the launch of smart stethoscopes propelled market growth in the later phase of the pandemic. During the forecast period, the market is expected to grow because more people are getting chronic diseases and more technologically advanced products are coming out.

The growth of the studied market is also being affected by the increasing number of people with heart and lung diseases and the average number of visits to doctors.

According to the WHO's July 2022 update, cardiovascular diseases are the leading cause of death around the world. Some of these include diseases such as coronary heart disease, cerebrovascular disease, rheumatic heart disease, congenital heart disease, and others. The preliminary testing done by professionals in hospitals and diagnostic centers is increasing due to the increasing incidence of cardiovascular diseases. The high number of people with cardiovascular diseases and the complications that come with them are likely to increase the demand for stethoscopes. This will increase the market's size and growth over the next few years.

Furthermore, according to the Australian Institute of Health and Welfare's 2022 update, approximately 1.2 million Australians have one or more heart or vascular diseases in the current year.In September 2021, a national strategic action plan for heart disease and stroke prevention was created by the Heart Foundation and the Stroke Foundation with support from the Australian government. Heart disease and stroke research are supported by the Medical Research Future Fund and the National Health and Medical Research Council, which have provided USD 220 million over the next few years for the cardiovascular health mission. Such efforts are expected to lead to more heart checks and more people using stethoscopes to find any problems with the heart.

Additionally, the geriatric population is expected to have a significant impact on the market studied, as people over 65 are more susceptible to chronic diseases that will drive the demand for regular check-ups. According to the World Population Prospect, 2022, globally in 2022, there were 771 million people aged 65 or over, and the number is projected to reach 994 million by 2030 and 1.6 billion by 2050. Moreover, according to the CDC's February 2022 update, 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%. During the forecast period, the market is also expected to be driven by the rise in the average number of visits to doctors.

Furthermore, various strategies adopted by the key market players are anticipated to drive market growth over the forecast period. For instance, in June 2021, 3M and Eko collaborated to launch a stethoscope that combines 3M Littmann technology with advanced Eko digital innovations. The collaboration is expected to expand the offerings to various markets, which will augment market growth during the forecast period.

Therefore, owing to the aforementioned factors, such as the rising burden of cardiovascular and pulmonary diseases and new product launches, the studied market is anticipated to witness growth over the analysis period. However, the growing adoption of advanced preliminary testing devices may hamper the growth of the market.

Stethoscope Industry Segmentation

As per the scope of the report, a stethoscope is a medical device used to transmit low-volume sounds, such as heartbeat, venous, or fetal sounds, to the ear of the physician or doctor. The stethoscope is an acoustic medical instrument used for auscultation, or listening to a person's body's internal sounds. The stethoscope market is segmented by type (manual stethoscope and electronic stethoscope), end-user (hospitals, ambulatory surgical centers, and other end users), and geography (North America, Europe, Asia-Pacific, the Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD million) for the above segments.

By Type
Manual Stethoscope
Electronic Stethoscope
By End Users
Hospitals & Clinics
Ambulatory Surgical Centers
Home Healthcare
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East and Africa
GCC
South Africa
Rest of Middle East and Africa
South America
Brazil
Argentina
Rest of South America
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Global Stethoscope Market Size Summary

The stethoscope market is poised for growth over the forecast period, driven by an increasing prevalence of chronic diseases, particularly cardiovascular and pulmonary conditions. The market's expansion is further supported by technological advancements and the introduction of smart stethoscopes, which have gained traction post-pandemic due to heightened infection control awareness. The demand for stethoscopes is expected to rise as the geriatric population grows and the frequency of medical consultations increases. Key players in the industry are actively engaging in strategic initiatives such as partnerships and product launches to enhance their market presence and drive innovation.

North America is anticipated to hold a significant share of the stethoscope market, attributed to its aging population and rising chronic disease incidence. The region's well-established healthcare infrastructure and the availability of advanced medical devices contribute to this growth. The market is characterized by a fragmented landscape with numerous global and regional players, including 3M, Baxter International, and Eko Devices, among others. These companies are leveraging technological advancements and strategic collaborations to expand their product offerings and cater to the evolving needs of healthcare professionals.

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Global Stethoscope Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Growing Burden of Cardiovascular and Pulmonary Diseases

      2. 1.2.2 Increase in Average Patient Visits to Physicians

    3. 1.3 Market Restraints

      1. 1.3.1 Growing Adoption of Advanced Preliminary Testing Devices

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size by Value - USD million)

    1. 2.1 By Type

      1. 2.1.1 Manual Stethoscope

      2. 2.1.2 Electronic Stethoscope

    2. 2.2 By End Users

      1. 2.2.1 Hospitals & Clinics

      2. 2.2.2 Ambulatory Surgical Centers

      3. 2.2.3 Home Healthcare

    3. 2.3 Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

        3. 2.3.1.3 Mexico

      2. 2.3.2 Europe

        1. 2.3.2.1 Germany

        2. 2.3.2.2 United Kingdom

        3. 2.3.2.3 France

        4. 2.3.2.4 Italy

        5. 2.3.2.5 Spain

        6. 2.3.2.6 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 China

        2. 2.3.3.2 Japan

        3. 2.3.3.3 India

        4. 2.3.3.4 Australia

        5. 2.3.3.5 South Korea

        6. 2.3.3.6 Rest of Asia-Pacific

      4. 2.3.4 Middle East and Africa

        1. 2.3.4.1 GCC

        2. 2.3.4.2 South Africa

        3. 2.3.4.3 Rest of Middle East and Africa

      5. 2.3.5 South America

        1. 2.3.5.1 Brazil

        2. 2.3.5.2 Argentina

        3. 2.3.5.3 Rest of South America

Global Stethoscope Market Size FAQs

The Global Stethoscope Market is projected to register a CAGR of 4.5% during the forecast period (2024-2029)

3M, GF HEALTH PRODUCTS, INC, American Diagnostic Corporation, ICU Medical, Inc. and Baxter (Hill-Rom) are the major companies operating in the Global Stethoscope Market.

Stethoscope Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)