Despite the advent of technologies such as handheld compact ultrasound systems, stethoscopes continue to be a mainstay in offices of healthcare professionals as an essential part of physical examination. The market stands to benefit from the development of electronic stethoscopes which are gaining an edge over conventional stethoscopes. This is mainly attributed to the enhanced digital sound transmission capabilities of digital stethoscopes and increasing application in areas such as such as telemedicine.
Digital stethoscopes have the ability to record sound, amplify sound up to 24 times the regular stethoscopes, and remove other disruptive sounds for better prognosis. The devices are also equipped with software that allows the physician to extrapolate the readings to a chart for monitoring patients daily heart rate. Further, with stethoscope manufacturers focusing upon development of stethoscopes with enhanced acoustics, innovative designs and exceptional performance, the market continues to witness new technology advancements such as wireless stethoscopes, blue-tooth enabled stethoscopes with recorded playback, and stethoscopes incorporating ultrasound technology. Another segment providing new growth opportunities is the fetal heart rate detector. Fetal heart rate monitors are set to grow at a fast pace driven by the healthcare industrys growing focus on reducing infant mortality rates.
As stated by the new market research report on Stethoscopes, the US represents the largest regional market, followed closely by Europe. Asia-Pacific is slated to emerge as the fastest growing market. Economic growth, increasing standard of living and aging population, especially in China and India, continue to fuel the demand for medical equipment in Asia-Pacific region. Segment-wise, Manual & Mechanical Stethoscopes represent the largest product segment. Electronic Stethoscopes however, offers the strongest growth potential driven by its increasing use among healthcare professionals.
Major players profiled in the report include 3M, A&D Medical, American Diagnostic Corporation, GF Health Products, Inc., Medi-Stim ASA, Medline Industries Inc., Rudolf Riester GmbH & Co. KG, Tytan Medical Corp. and Welch Allyn Inc.
The research report titled “Stethoscopes: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides a comprehensive review of trends, issues, strategic industry activities, and profiles of major companies worldwide. The report provides market estimates and projections (US$ Million) for global and regional markets including United States, Canada, Japan, Europe (France, Germany, Italy, UK and Rest of Europe), Asia-Pacific and Latin America. Product segments analyzed include Manual & Mechanical Stethoscopes, Electronic Stethoscopes, Esophageal Stethoscopes, Fetal Stethoscopes and Fetal Heart Rate Detectors.