Stethoscope Market Future Challenges and Industry Growth Outlook by 2020-2026

Stethoscope Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

A significant rise has been witnessed in cardiac and pulmonary ailments among older population, driving global stethoscope market trends. Young and middle aged populace is also suffering from cardiovascular diseases and obesity owing to adoption of unhealthy lifestyle and minimal physical activity.

This is resulting in growing healthcare expenditure and will positively impact stethoscope industry growth. Expanding geriatric population base suffering from chronic disorders coupled with mounting need for advanced diagnostic devices will fuel the demand for healthcare services.

Request for a sample copy of this report @ https://www.gminsights.com/request-sample/detail/2923

Moreover, increased spending on R&D activities and recent technological advancements by the major healthcare providers may change the industry landscape. Introduction of advanced diagnostic devices such as electronic stethoscope with wireless Bluetooth technology is likely to fuel product penetration over the coming years. Global stethoscope market size is forecast to surpass USD 520 million by 2026.

Product-wise, stethoscope market is bifurcated into electronic and acoustic stethoscopes.  Electronic stethoscope segment is estimated to grow at 5.5% over 2020-2026. Such robust growth rate can be attributed to impressive product benefits such as ambient noise reduction, amplified sound output, record & replay capabilities, enhanced frequency range, visual display and reduced time to get accurate reading.

Based on head design, the market is segmented as single, double and triple head. Double head stethoscope segment gained the maximum share, accounting for more than USD 220 million in 2019. The stethoscopes are widely adopted in healthcare facilities as they are exceptionally durable and efficient models. They are used in emergency situations by medical professionals due to quick and reliable diagnostic results.

Speaking in terms of usability, the industry is segmented as disposable and reusable. Disposable or single use stethoscopes market is touted to register a CAGR of 6% over the analysis period. Increasing awareness pertaining to cross contamination and prevention of disease transmission may bolster product adoption in hospitals and other healthcare facilities.

In 2019, stainless steel stethoscopes segment accounted for a revenue generation of over USD 150 million and is likely to grow at 4.5% over the projected timeframe. Stainless steel stethoscopes are expected to experience high demand owing to advantageous attributes such as durability, sound amplification and good sound conductivity.

Growing patient inclination toward outpatient procedures will augment the utilization of stethoscopes across ambulatory surgical centers. In 2019, use of stethoscopes in ambulatory surgical centers generated a revenue of over USD 78 million.

Expansion of healthcare facilities in Europe, rising number of health care specialists along with recent technological advancements in existing medical tools as well as development of novel products will spur regional growth. Cardiovascular diseases are the leading cause of death across Germany, accounting for over 40% of the total deaths in the country annually. Mounting need for accurate and early diagnosis of diseases will foster stethoscope market share. In 2019, Germany lead the Europe stethoscope industry, accounting for approximately USD 26 million of the total share.

Request for customization @ https://www.gminsights.com/roc/2923

Key players operating in global stethoscope market are 3M, American Diagnostic Company, Eko Devices, Cardionics, HEINE Optotechnik, GF Health Products, McCoy, Invacare and Supply Group, among others. These players are focusing on several organic and inorganic strategies such as merger, partnerships, acquisitions and new product launches to consolidate their market presence and gain profit. 

Partial Chapter of the Table of Content 

Chapter 2.  Executive Summary

2.1. Stethoscope industry 3600 synopsis, 2015 - 2026

2.1.1.  Business trends

2.1.2.  Product trends

2.1.3.  Design trends

2.1.4.  Usability trends

2.1.5.  Tube type trends

2.1.6.  Material trends

2.1.7.  End-use trends

2.1.8.  Regional trends

Chapter 3.  Stethoscope Industry Insights

3.1. Industry segmentation

3.2. Industry landscape, 2015 – 2026

3.3. Industry impact forces

3.3.1.  Growth drivers

3.3.1.1.  Increase in number of cardiovascular and pulmonary diseases

3.3.1.2.  Rise in adoption of stethoscope in telemedicine technology

3.3.1.3.  Growing preference for electronic stethoscope

3.3.1.4.  Recent technological advancements

3.3.1.5.  Increase in average patient visits to physicians

3.3.2.  Industry pitfalls & challenges

3.3.2.1.  High product cost

3.3.2.2.  Lack of skilled healthcare professionals

3.4. Growth potential analysis

3.4.1.  By product

3.4.2.  By design

3.4.3.  By usability

3.4.4.  By tube type

3.4.5.  By material

3.4.6.  By end-use

3.5. Regulatory landscape

3.5.1.  U.S.

3.5.2.  Europe

3.6. Porter’s analysis

3.7. Competitive landscape, 2018

3.7.1.  Company matrix analysis, 2018

3.8.   PESTEL analysis 

Browse full table of contents (TOC) of this report @ https://www.gminsights.com/toc/detail/stethoscope-market