Stethoscope Market Development and Dynamics Forces Explore By Global Emerging Players 3M Company, Cardionics, Inc., Heine Optotechnik GmbH & Co. KG, American Diagnostics Corp, GF Health Products, Inc.

Stethoscope is an acoustic medical device used for auscultation based physical examination of an animal or humans. The resonator placed beneath the small disc at one end amplifies sound of lungs, heart, esophagus or fetal heart rate. Stethoscope is a fundamental component of physical examination for a healthcare profession. Major drivers for growth of the stethoscope market are increasing incidence of cardiovascular disease, rising number of healthcare professionals, and improving healthcare facilities. Moreover, market players are introducing more user friendly technologically advanced products with Bluetooth connectivity or wireless digital stethoscope, which is expected to boost growth of the stethoscope market.

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Stethoscope Market Drivers

Increasing product launches by key players with advanced technologies is expected to aid in growth of the global stethoscope market during the forecast period. For instance, in March 2018, a research team developed an open-source, clinically validated template for a 3D printed stethoscope for application in the areas that have limited access to medical supplies. Moreover, in April 2018, Steth IO launched digital stethoscope named Steth IO. The product is built directly into the protective case of the physician’s iphone. It runs on an app that allows visualization of heart or lung sounds directly on the phone’s screen, when held against patient’s chest. Furthermore, it enables physician to store the records in the app, which can be shared in case of a second opinion. Steth IO received FDA approval in 2016. In 2015, Eko received US FDA clearance to launch Eko Core, a next generation digital stethoscope.

In January 2018, M3DICINE Inc., a designer of intelligent medical devices, launched Stethee, the first Artificially Intelligent (AI)-enabled stethoscope system. The Stethee system include three products, which are Stethee Pro for medical and healthcare professionals, Stethee Vet for veterinarians and animal professionals, and Stethee Edu developed as educational and research tool. All these product launches are technologically advanced versions of conventional stethoscope and is expected to increase choices for the users.

Stethoscope Market - Regional Analysis

Based on geography, the stethoscope market has been segmented into North America, Latin America, Europe, Middle East, Asia Pacific, and Africa. North America holds the dominant position in stethoscope market, owing to the increasing number of new product launches by the key players in U.S. North America market is followed by Europe attributed to the increasing number of hospitals and clinics and medical professionals. For instance, according to Eurostat, around 1.8 million physicians are working in the European Union, while the comparison between 2005 and 2015 showed that the number of medical doctors graduating per 100,000 inhabitants rose to 12.4 medical doctors in 2015 as compared to 2005 (9.5 medical doctors per 100,00 inhabitants).

Stethoscope Market – Competitive Lanscape

Key players operating in the stethoscope market are 3M Company, Cardionics, Inc., Heine Optotechnik GmbH & Co. KG, American Diagnostics Corp, Medline Industries, Inc., Welch Allyn, Inc., GF Health Products, Inc., and Rudolf Riester GmbH.

Stethoscope Market Taxonomy

By Product Type -

Dual Head Stethoscope
Single Head Stethoscope
Triple Head Stethoscope

By Application -

Humans
Veterinary

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