Global Smart Stethoscopes Market By Type (Wireless Stethoscope, and Stethoscope with Wire), By Application (Hospitals, and Clinics), By Region, and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032
- Published date: May 2023
- Report ID: 31250
- Number of Pages: 294
Smart Stethoscopes Market Overview
The global smart-stethoscope market was valued at USD 49.22 million in 2021. It is expected that it will grow at a 7% CAGR between 2022-2032.
Smart stethoscopes are in high demand due to the rising prevalence of respiratory and cardiovascular diseases, technological advancements, and the introduction of COVID-19.
Global Smart-Stethoscope Market Analysis:
The segment for smart stethoscopes that focuses on the cardiovascular market held 32.56% of revenue in 2021. The cardiology-specific stethoscope is designed for use by cardiologists.
It’s known for its high-quality acoustics. It is used for listening to sounds made from different parts of the cardiovascular system, including valve movement, heartbeat, and clicks. Stethoscopes can be used in a variety of other ways, just like regular stethoscopes.
The sound quality of the cardiology stethoscope is superior to that of generic stethoscopes. Many cardiology stethoscopes include a pressure-tunable diaphragm which allows you to distinguish between high-frequency and low-frequency sounds.
The demand for cardiovascular and other stethoscopes is also increasing due to the rising incidence of heart-related diseases.
The key products included in this segment are Welch Allyn’s Harvey Elite Stethoscope, Littmann Cardiology Stethoscopes Electric Stethoscopes, offered by 3M, DUO ECG + digital Stethoscope, by Eko Devices, Inc. It consists of an electronic stethoscope and a handheld ECG. It also tracks electrical activity.
In 2021, the hospital segment held a high revenue share. Over the forecast period, this segment will experience a substantial growth rate. Segment growth has been driven by an increase in the number of people that suffer from a variety of respiratory and cardiovascular diseases.
A large patient population of elderly people is also being admitted to hospitals in order to diagnose many chronic illnesses. According to the CDC people over 65 have a higher risk of developing serious health conditions such as heart disease.
A smart stethoscope allows medical professionals to record patients’ heart and lung sounds and then integrate them into the hospital’s electronic health record systems. This is why there is a growing demand for technology-advanced stethoscopes.
Additionally, in COVID-19, hospital healthcare providers use smart stethoscopes for safe data exchange with physicians and experts from other states. These stethoscopes have wireless capabilities that make them suitable for social distancing.
The segment of Ambulatory Surgical Centers is expected to experience a substantial increase in the forecast period.
According to Becker’s Healthcare statistics, approximately 36.14% of all outpatient surgical procedures took place in the United States. Segmental growth can be attributed to an increase in the number of procedures performed.
Key Market Segmentation
- Other applications
- Ambulatory Surgical Centers (ASCs)
Smart Stethoscopes Market Dynamics
A large number of people with various respiratory and cardiovascular diseases has contributed significantly to the rise in the smart stethoscopes market.
According to the WHO, heart disease continues to be the leading cause of death in most countries. 17.9 million people die each year from cardiovascular diseases. A high patient base leads to increased demand for smart stethoscopes.
A majority of heart diseases can be linked to the sound that the heart makes. These heart diseases may be identified easily by variations in the sound produced by heart activity. Heart auscultation, which is listening to the heartbeat, is the first step in diagnosing cardiac disease.
Additionally, smart stethoscope sales are expected to rise due to rising numbers of respiratory disorders like emphysema, asthma, and acute bronchitis. According to WHO, asthma affected 262 million people in the world, leading to 461,000 deaths.
A stethoscope’s primary purpose is to evaluate the state of the respiratory tract. Because of the high volume of patients with cardia and lung diseases, market growth will be aided by the incorporation of smart technologies like AI in stethoscopes.
The smart stethoscope can be used by physicians to help them achieve positive outcomes. It is user-friendly, cost-effective, and easy to use. Smart stethoscopes have been developed as both a modern homecare product and a doctor’s assistant.
These stethoscopes aid in diagnosing respiratory disorders and illnesses. Smart AI-enabled Stethoscopes can help avoid errors by making interpretations more consistent. The AI-powered smart instrument transforms Telemedicine.
This technology is also capable of reducing unnecessary visits to the hospital. Many players have recently introduced smart stethoscopes to the market.
You can see an example of this:
Extensive R&D continues to be conducted to invent and launch smart stethoscopes. This is contributing to the growing market for smart devices. Sonali Labs, a John Hopkins University research group, has created a creative, AI-powered smart, cutting-edge stethoscope.
The latest stethoscope includes smart noise-filtering technology to improve the sound quality of chest measurements. This system includes AI-driven technology, which aids in the automatic detection of pneumonia.
It detects and listens to different types of breathing. This allows the new stethoscopes to give diagnoses. Modern automated stethoscopes can detect abnormal lung formations and are less sensitive to their location.
This new stethoscope helps in the diagnosis and treatment of respiratory conditions, such as pneumonia. This will result in a rise in R&D that will increase the demand for smart stethoscopes over the next few years.
The increasing number of heart diseases and other pulmonary diseases, along with the existing infrastructure, are some of the main factors driving growth in the U.S. market. Technological advancements and frequent launches of new, innovative products are some of the key factors driving the market growth for smart stethoscopes.
3M Littmann and Eko Stethoscopes jointly launched the 3M LittmannCORE Digital Stethoscope in Oct 2020. It features a ‘tunable dial technology’ that allows users to hear various frequencies simply by changing the pressure on the chest piece.
Another major contributor to the rise of the stethoscope market in India is the favorable reimbursement structure and the support provided by the government to raise awareness about advanced stethoscopes.
HD Medical Inc. used HD Steth, an artificial intelligence (AI)-equipped stethoscope and ECG-equipped to screen over 50,000 children in the World Congenital Heart Defects Awareness Week, February 2021.
These screenings took place at a variety of locations throughout India and have saved more than 36 lives. HD Medical stated that they plan to expand screenings to more than 500,000 children worldwide.
Smart Stethoscopes Market Regional Analysis
North America dominated smart stethoscopes and held the largest revenue share at 36% in 2021. Over the forecast period, this segment will see a 7.23% growth rate.
Market growth has been accelerated by the increase in chronic diseases, such as respiratory and cardiovascular disorders, and the availability of well-developed healthcare infrastructure.
North America is seeing an increase in cardiovascular diseases, which is likely to drive up the demand for stethoscopes.
Asia Pacific’s market for smart stethoscopes is expected to grow at 7.9% annually during the forecast period. Market growth is expected to be notable due to the presence of large patient bases.
A low-cost structure and high R&D investment by key market players are important drivers for the Asia Pacific region’s market.
This region is expected to see market growth due to rising awareness regarding chronic disease treatment and improved clinical development frameworks in developing economies.
Smart stethoscopes are seeing increased demand in the Asia Pacific due to factors like an increasing number of people who are more likely to develop respiratory or cardiovascular problems.
In the Asia Pacific, there will be a growing elderly population and a rising burden of chronic disease.
This is expected to increase the demand. In developing countries such as Australia and India, many companies are trying to seize this opportunity by launching affordable products on the smart stethoscope market.
Key Regions and Countries covered іn thе rероrt:
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Rest of South America
- South Africa
- Rest of MEA
It is fairly fragmented with no dominant player. However, the market has experienced significant growth in the last few years and continues offering lucrative growth opportunities to participants.
Despite the fact that the supply chain was severely affected by the COVID-19 pandemic, in the beginning, companies are making great efforts to get their operations back on track.
To gain a competitive edge, market players use a variety of strategies to increase their market share. Samsung Electronics Co.
These devices have achieved an outstanding energy efficiency rating. Sony Corporation announced pricing and availability for its LED and OLED models that include Google Assistant. This allows users to easily access entertainment and device controls.
Маrkеt Кеу Рlауеrѕ:
- HD Medical, Inc.
- Sonavi Labs
- M3DICINE Pty Ltd.
- Steth IO
- Eko Devices, Inc.
- Other Key Players
For the Smart Stethoscopes Market research study, the following years have been considered to estimate the market size:
Attribute Report Details
Short Term Projection Year
Long Term Projection Year
Competitive Landscape, Revenue analysis, Company Share Analysis, Manufacturers Analysis, Volume by Manufacturers, Key Segments, Key company analysis, Market Trends, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis, strategy for existing players to grab maximum market share, and more.
North America, Europe, Asia-Pacific, South America, Middle East & Africa
United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa
Frequently Asked Questions (FAQ)Q: What is the Smart Stethoscope market size in 2021?
A: The Smart Stethoscope market size is US$ 49.22 million for 2021.Q: What is the CAGR for the Smart Stethoscope market?
A: The Smart Stethoscope market is expected to grow at a CAGR of 7% during 2023-2032.Q: What are the segments covered in the Smart Stethoscope market report?
A: Market.US has segmented the Global Smart Stethoscope Market Value (US$ Mn) Analysis by Region, 2022 market by geographic (North America, Europe, APAC, South America, and Middle East and Africa). By Applications, market has been segmented into fetal, cardiovascular, teaching, pediatric, neonatal, and other applications. By End-Use, the market has been further divided into hospitals, ambulatory surgical centers (ASCS), and clinics.Q: Who are the key players in the Smart Stethoscope market?
A: 3M, HD Medical, Inc., Thinklabs, Sonavi Labs, M3DICINE Pty Ltd., eKuore, Steth IO, Eko Devices, Inc., and Other Key Players are the key vendors in the Smart Stethoscope market.Q: Which region is more attractive for vendors in the Smart Stethoscope market?
A: North America accounted for the highest revenue share of 36% among the other regions. Therefore, the Smart Stethoscope market in North America is expected to garner significant business opportunities for the vendors during the forecast period.Q: What are the key markets for Smart Stethoscope?
A: Key markets for Smart Stethoscope are US, China, Japan, India, Brazil, Germany, UK, France, Italy, Spain, etc.Q: Which segment has the largest share in the Smart Stethoscope market?
A: In the Smart Stethoscope market, vendors should focus on grabbing business opportunities from the cardiovascular application segment as it accounted for the largest market share in the base year.
- 3M Littmann
- Welch Allyn
- American Diagnostics
- Dongjin Medical
- Eko Devices
- HD Medical
- SMART SOUND
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