According to the recently upgraded market intelligence report by FMI, the Electronic Stethoscope Market is predicted to be valued at USD 292.2 million in 2024. By the end of 2034, the market is estimated to achieve USD 528.2 million and is slated to expand at a 6.10% CAGR in the following decade.
Growing demand for electronic stethoscopes due to the surging prevalence of cardiovascular diseases and the development of advanced healthcare technologies are supporting the industry's growth. In addition to this, emphasis on preventative care is also adding to the market growth.
| Attributes | Key Insights |
|---|---|
| Electronic Stethoscope Market Size (2024E) | USD 292.2 million |
| Market Valuation (2034F) | USD 528.2 million |
| Value-based CAGR (2024 to 2034) | 6.10% |
The market share of amplifying stethoscopes is estimated to be 64.20% in 2024. Sales of amplifying stethoscopes are increasing on account of their ease of operability, high accuracy in offering amplified sounds, and low maintenance costs.
| Leading Product | Amplifying Stethoscopes |
|---|---|
| Value Share (2024) | 64.20% |
| Leading Application | Wireless Transmission System (Bluetooth) |
|---|---|
| Value Share (2024) | 36.50% |
The use of e-stethoscopes is increasing in wireless transmission systems (Bluetooth). The share of this application segment is projected to be 36.50% by the end of 2024.
| Countries | Forecast CAGR (2024 to 2034) |
|---|---|
| United States | 4.20% |
| Germany | 6.00% |
| Japan | 7.10% |
| China | 12.40% |
| South Korea | 8.80% |
The United States electronic stethoscope market is expanding at a CAGR of 4.20% over the forecast period.
Players in the country are extending their reach via coming into collaborations.
For instance, in September 2023, FIGS.inc, which is the direct-to-consumer healthcare lifestyle and apparel brand collaborated with Eko Health, Inc., a top innovator in digital health technology for lung and heart disease detection to introduce FIGS | Eko CORE 500™ Digital Stethoscope in the market.
This collaboration brought together two companies that play a crucial role in the reinvention of two mainstays of healthcare professionals, i.e., stethoscopes and scrubs.
The electronic stethoscope market in Germany is increasing at a CAGR of 6.00% over the forecast period. The medical professionals and regulatory authorities in Germany are embracing advanced healthcare products and equipment.
With the rising incidences of cardiovascular diseases in the country, the demand for advanced electronic stethoscopes is propelling rapidly. Therefore, healthcare organizations are extending their portfolio of medical equipment by spending on amplifying e-stethoscopes, which are cost-effective digital stethoscopes.
Increasing consumption of fast food as well as surging sedentary lifestyles are the leading causes behind the ailing German population. Rising chronic diseases are also raising the demand for enhanced medications and early detection.
Responding to this, the government in Germany is elevating its healthcare infrastructure, which is increasing its sales.
Another key driver of sales of electronic stethoscopes is the growing demand for efficient detection devices for diseases. To alleviate the burden, the government in Germany is increasing the adoption of e-stethoscopes.
The market in China is expected to accelerate at a CAGR of 12.40% over the forecast period. The market in China is expected to show immense growth capabilities due to surging funding by the government and rapid technological advancements.
These developments are pushing advancements in healthcare equipment, subsequently pushing the demand for electronic stethoscopes.
The integration of wireless technology in these stethoscopes is also creating several business opportunities for players. Heightened health consciousness among the masses is raising the adoption.
Besides this, healthcare professionals are increasingly using these stethoscopes to boost their efficiency and enhanced patient outcomes.
Growing popularity of wearable medical devices owing to remote monitoring trend is positively impacting the market growth. This trend is also contributing to an accelerated sales of digital stethoscopes in China.
In Japan, the demand for electronic stethoscopes is pacing at an average of 7.10% over the next ten years. The demand and popularity of “visiting medical care” is increasing in the country, owing to the vast population of elderly who are dealing with mobility issues.
The market is making efforts to assist the aging population and effectively tackle the nursing shortage in the country. For instance, in September 2023, SOMPO and TytoCare collaborated to enhance and simplify the medical diagnosis procedures to increase their accessibility among the Japanese elderly population.
This initiative is a substantial leap forward in the quality and experience of healthcare services for the older patient population.
The country is focusing on early adoption of universal healthcare and surging focus on preventative care, which is expected to fuel demand for digital stethoscopes.
The electronic stethoscope market in South Korea is expected to expand at an 8.80% growth rate in the next decade. The country is ramping up its initiatives to embrace digital health technologies, which is expected to create substantial growth prospects for electronic stethoscope providers.
Recent advances in artificial intelligence are facilitating the development as well as deployment of AI tools that hold the potential to effectively detect heart valvular disease and predict the risk of cardiovascular disease events, according to the preliminary research studies led by a South Korean professor, presented at the Scientific Sessions 2023 at the American Heart Association.
According to the study, the demand for artificial intelligence-enabled digital stethoscopes is very likely to surge as they analyze the sound data of the heart more accurately than a healthcare professional who sought a traditional stethoscope to listen to the heart.
As the country is making significant progress toward the integration of medical devices into its healthcare system and enhanced reimbursements, the old practices are expected to be forgone.
The widespread acceptance of telemedicine is motivating electronic stethoscope manufacturers to develop advanced devices for increased sales. To enhance their presence in emerging economies, small and mid-sized firms operating in the industry are introducing their cost-effective product portfolios in these regions.
Certain industry giants are concentrating on creating innovative and technologically advanced electronic stethoscopes to boost their product portfolio. Market players are also investing in research and development activities to develop and introduce technologically advanced electronic stethoscopes across the globe.
Latest Developments that are Shaping the Electronic Stethoscope Industry
Current projections of the market indicate a valuation of USD 292.2 million in 2024.
Looking ahead to 2034, the current forecast projects a CAGR of 6.10% for the industry.
FMI predicts the market to reach USD 528.2 million by 2034.
The wireless transmission system (Bluetooth) segment is predicted to hold a significant market share during the forecast period.
China is predicted to offer lucrative opportunities for investors and stakeholders.
Eko Devices, eKuore, and Global Media Group LLC are powerful players in the industry.
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Electronic Stethoscope Market
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