Stethoscopes Market Trends, Growth Prospects To 2020: Grand View Research, Inc.
The increasing base of geriatric population, rising disposable income and growing patient awareness are the vital factors driving the global stethoscopes market. Furthermore, technological advancements such as handheld ultrasound system and stethoscope apps on smartphones coupled with increasing demand for fetal heart rate detectors and electric stethoscopes are also high impact rendering drivers for the global stethoscopes market. Adoption of portable ultra sound systems, cardio sleeves, hand held ultra sounds and stethoscope apps on smart phones are other vital drivers expected to fuel the growth of the global stethoscopes market over the forecast period.
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The global stethoscope market is segmented on the basis of its product type into fetal heart rate detectors, fetal stethoscopes, esophageal stethoscopes, electronic stethoscopes, digital stethoscopes, manual and mechanical stethoscopes. The electronic stethoscope segment attributes the largest share in the market owing to its better amplification of sound and enhanced acoustics. The electronic stethoscopes such as bluetooth enabled stethoscope and wireless stethoscopes are expected to grow at lucrative growth rate during the forecast period owing to the rising demand for technological advanced products. Fetal heart rate detectors segment is expected to show a significant growth over next six years due to healthcare industry’s increasing focus on reducing infant mortality rates. The advanced features of digital stethoscopes such as sound recorder, sound amplifier and ability to remove noise for improved prognosis are expected to drive the global market in the coming six years.
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North America dominates the global stethoscopes market owing to the increasing adoption of portable ultrasound systems and rapidly rising patient base in hospitals and clinics in this region. Asia Pacific is growing on the fast pace and expected to show lucrative growth owing to the increasing standard of living and geriatric population in this region.
Some of the major players in the global stethoscopes market include Welch Allyn Inc., Tytan Medical Corporation, Rudolf Riester GmbH & Co. KG, Medline Industries Inc., Medi-Stim ASA, GF Health Products Inc., American Diagnostics Corporation, A&D Medical and 3M. These companies are creating various marketing strategies such as collaborations, expansions and acquisitions to maintain a competitive environment in the global stethoscopes market.
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