According to the recently upgraded market intelligence report by FMI, the electronic stethoscope market is predicted to be valued at US$ 292.2 million in 2024. By the end of 2034, the market is estimated to achieve US$ 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) | US$ 292.2 million |
Market Valuation (2034F) | US$ 528.2 million |
Value-based CAGR (2024 to 2034) | 6.10% |
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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
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Current projections of the market indicate a valuation of US$ 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 US$ 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.
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Product Life Cycle Analysis 3.5. Supply Chain Analysis 3.5.1. Supply Side Participants and their Roles 3.5.1.1. Manufacturer 3.5.1.2. Mid-Level Participants (Traders) 3.5.1.3. Distributors 3.5.2. Value Added and Value Created at Node in the Supply Chain 3.5.3. List of Raw Material Suppliers 3.5.4. List of Existing and Potential Buyer’s 3.6. Investment Feasibility Matrix 3.7. Value Chain Analysis 3.7.1. Profit Margin Analysis 3.7.2. Distributors 3.8. PESTLE and Porter’s Analysis 3.9. Regulatory Landscape 3.9.1. By Key Regions 3.9.2. By Key Countries 3.10. Regional Parent Market Outlook 3.11. Production and Consumption Statistics 3.12. Import and Export Statistics 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034 4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2019 to 2023 4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2024 to 2034 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Product 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Product, 2019 to 2023 5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Product, 2024 to 2034 5.3.1. Amplifying Stethoscopes 5.3.2. Digitizing Stethoscopes 5.4. Y-o-Y Growth Trend Analysis By Product, 2019 to 2023 5.5. Absolute $ Opportunity Analysis By Product, 2024 to 2034 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End User 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By End User, 2019 to 2023 6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By End User, 2024 to 2034 6.3.1. Hospitals 6.3.2. Clinics 6.3.3. Medical Institutes 6.3.4. Ambulatory Surgical Centers 6.3.5. Homecare Settings 6.3.6. Medical Camps 6.3.7. Catheterization Laboratories 6.4. Y-o-Y Growth Trend Analysis By End User, 2019 to 2023 6.5. Absolute $ Opportunity Analysis By End User, 2024 to 2034 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Application 7.1. Introduction / Key Findings 7.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Application, 2019 to 2023 7.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Application, 2024 to 2034 7.3.1. Integrated Chest-Piece System 7.3.2. Wireless Transmission System (Bluetooth) 7.3.3. Integrated Receiver Head-Piece System 7.3.4. Other 7.4. Y-o-Y Growth Trend Analysis By Application, 2019 to 2023 7.5. Absolute $ Opportunity Analysis By Application, 2024 to 2034 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 8.1. Introduction 8.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Region, 2019 to 2023 8.3. Current Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Region, 2024 to 2034 8.3.1. North America 8.3.2. Latin America 8.3.3. Western Europe 8.3.4. Eastern Europe 8.3.5. South Asia and Pacific 8.3.6. East Asia 8.3.7. Middle East and Africa 8.4. Market Attractiveness Analysis By Region 9. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 9.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 9.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 9.2.1. By Country 9.2.1.1. USA 9.2.1.2. Canada 9.2.2. By Product 9.2.3. By End User 9.2.4. By Application 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Product 9.3.3. By End User 9.3.4. By Application 9.4. Key Takeaways 10. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 10.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 10.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 10.2.1. By Country 10.2.1.1. Brazil 10.2.1.2. Mexico 10.2.1.3. Rest of Latin America 10.2.2. By Product 10.2.3. By End User 10.2.4. By Application 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Product 10.3.3. By End User 10.3.4. By Application 10.4. Key Takeaways 11. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 11.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 11.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 11.2.1. By Country 11.2.1.1. Germany 11.2.1.2. UK 11.2.1.3. France 11.2.1.4. Spain 11.2.1.5. Italy 11.2.1.6. Rest of Western Europe 11.2.2. By Product 11.2.3. By End User 11.2.4. By Application 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Product 11.3.3. By End User 11.3.4. By Application 11.4. Key Takeaways 12. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 12.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 12.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 12.2.1. By Country 12.2.1.1. Poland 12.2.1.2. Russia 12.2.1.3. Czech Republic 12.2.1.4. Romania 12.2.1.5. Rest of Eastern Europe 12.2.2. By Product 12.2.3. By End User 12.2.4. By Application 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Product 12.3.3. By End User 12.3.4. By Application 12.4. Key Takeaways 13. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 13.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 13.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 13.2.1. By Country 13.2.1.1. India 13.2.1.2. Bangladesh 13.2.1.3. Australia 13.2.1.4. New Zealand 13.2.1.5. Rest of South Asia and Pacific 13.2.2. By Product 13.2.3. By End User 13.2.4. By Application 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Product 13.3.3. By End User 13.3.4. By Application 13.4. Key Takeaways 14. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 14.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 14.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 14.2.1. By Country 14.2.1.1. China 14.2.1.2. Japan 14.2.1.3. South Korea 14.2.2. By Product 14.2.3. By End User 14.2.4. By Application 14.3. Market Attractiveness Analysis 14.3.1. By Country 14.3.2. By Product 14.3.3. By End User 14.3.4. By Application 14.4. Key Takeaways 15. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 15.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 15.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 15.2.1. By Country 15.2.1.1. GCC Countries 15.2.1.2. South Africa 15.2.1.3. Israel 15.2.1.4. Rest of MEA 15.2.2. By Product 15.2.3. By End User 15.2.4. By Application 15.3. Market Attractiveness Analysis 15.3.1. By Country 15.3.2. By Product 15.3.3. By End User 15.3.4. By Application 15.4. Key Takeaways 16. Key Countries Market Analysis 16.1. USA 16.1.1. Pricing Analysis 16.1.2. Market Share Analysis, 2023 16.1.2.1. By Product 16.1.2.2. By End User 16.1.2.3. By Application 16.2. Canada 16.2.1. Pricing Analysis 16.2.2. Market Share Analysis, 2023 16.2.2.1. By Product 16.2.2.2. By End User 16.2.2.3. By Application 16.3. Brazil 16.3.1. Pricing Analysis 16.3.2. Market Share Analysis, 2023 16.3.2.1. By Product 16.3.2.2. By End User 16.3.2.3. By Application 16.4. Mexico 16.4.1. Pricing Analysis 16.4.2. Market Share Analysis, 2023 16.4.2.1. By Product 16.4.2.2. By End User 16.4.2.3. By Application 16.5. Germany 16.5.1. Pricing Analysis 16.5.2. Market Share Analysis, 2023 16.5.2.1. By Product 16.5.2.2. By End User 16.5.2.3. By Application 16.6. UK 16.6.1. Pricing Analysis 16.6.2. Market Share Analysis, 2023 16.6.2.1. By Product 16.6.2.2. By End User 16.6.2.3. By Application 16.7. France 16.7.1. Pricing Analysis 16.7.2. Market Share Analysis, 2023 16.7.2.1. By Product 16.7.2.2. By End User 16.7.2.3. By Application 16.8. Spain 16.8.1. Pricing Analysis 16.8.2. Market Share Analysis, 2023 16.8.2.1. By Product 16.8.2.2. By End User 16.8.2.3. By Application 16.9. Italy 16.9.1. Pricing Analysis 16.9.2. Market Share Analysis, 2023 16.9.2.1. By Product 16.9.2.2. By End User 16.9.2.3. By Application 16.10. Poland 16.10.1. Pricing Analysis 16.10.2. Market Share Analysis, 2023 16.10.2.1. By Product 16.10.2.2. By End User 16.10.2.3. By Application 16.11. Russia 16.11.1. Pricing Analysis 16.11.2. Market Share Analysis, 2023 16.11.2.1. By Product 16.11.2.2. By End User 16.11.2.3. By Application 16.12. Czech Republic 16.12.1. Pricing Analysis 16.12.2. Market Share Analysis, 2023 16.12.2.1. By Product 16.12.2.2. By End User 16.12.2.3. By Application 16.13. Romania 16.13.1. Pricing Analysis 16.13.2. Market Share Analysis, 2023 16.13.2.1. By Product 16.13.2.2. By End User 16.13.2.3. By Application 16.14. India 16.14.1. Pricing Analysis 16.14.2. Market Share Analysis, 2023 16.14.2.1. By Product 16.14.2.2. By End User 16.14.2.3. By Application 16.15. Bangladesh 16.15.1. Pricing Analysis 16.15.2. Market Share Analysis, 2023 16.15.2.1. By Product 16.15.2.2. By End User 16.15.2.3. By Application 16.16. Australia 16.16.1. Pricing Analysis 16.16.2. Market Share Analysis, 2023 16.16.2.1. By Product 16.16.2.2. By End User 16.16.2.3. By Application 16.17. New Zealand 16.17.1. Pricing Analysis 16.17.2. Market Share Analysis, 2023 16.17.2.1. By Product 16.17.2.2. By End User 16.17.2.3. By Application 16.18. China 16.18.1. Pricing Analysis 16.18.2. Market Share Analysis, 2023 16.18.2.1. By Product 16.18.2.2. By End User 16.18.2.3. By Application 16.19. Japan 16.19.1. Pricing Analysis 16.19.2. Market Share Analysis, 2023 16.19.2.1. By Product 16.19.2.2. By End User 16.19.2.3. By Application 16.20. South Korea 16.20.1. Pricing Analysis 16.20.2. Market Share Analysis, 2023 16.20.2.1. By Product 16.20.2.2. By End User 16.20.2.3. By Application 16.21. GCC Countries 16.21.1. Pricing Analysis 16.21.2. Market Share Analysis, 2023 16.21.2.1. By Product 16.21.2.2. By End User 16.21.2.3. By Application 16.22. South Africa 16.22.1. Pricing Analysis 16.22.2. Market Share Analysis, 2023 16.22.2.1. By Product 16.22.2.2. By End User 16.22.2.3. By Application 16.23. Israel 16.23.1. Pricing Analysis 16.23.2. Market Share Analysis, 2023 16.23.2.1. By Product 16.23.2.2. By End User 16.23.2.3. By Application 17. Market Structure Analysis 17.1. Competition Dashboard 17.2. Competition Benchmarking 17.3. Market Share Analysis of Top Players 17.3.1. By Regional 17.3.2. By Product 17.3.3. By End User 17.3.4. By Application 18. Competition Analysis 18.1. Competition Deep Dive 18.1.1. Eko Devices 18.1.1.1. Overview 18.1.1.2. Product Portfolio 18.1.1.3. Profitability by Market Segments 18.1.1.4. Sales Footprint 18.1.1.5. Strategy Overview 18.1.1.5.1. Marketing Strategy 18.1.1.5.2. Product Strategy 18.1.1.5.3. Channel Strategy 18.1.2. eKuore 18.1.2.1. Overview 18.1.2.2. Product Portfolio 18.1.2.3. Profitability by Market Segments 18.1.2.4. Sales Footprint 18.1.2.5. Strategy Overview 18.1.2.5.1. Marketing Strategy 18.1.2.5.2. Product Strategy 18.1.2.5.3. Channel Strategy 18.1.3. AD Instruments 18.1.3.1. Overview 18.1.3.2. Product Portfolio 18.1.3.3. Profitability by Market Segments 18.1.3.4. Sales Footprint 18.1.3.5. Strategy Overview 18.1.3.5.1. Marketing Strategy 18.1.3.5.2. Product Strategy 18.1.3.5.3. Channel Strategy 18.1.4. Thinklabs 18.1.4.1. Overview 18.1.4.2. Product Portfolio 18.1.4.3. Profitability by Market Segments 18.1.4.4. Sales Footprint 18.1.4.5. Strategy Overview 18.1.4.5.1. Marketing Strategy 18.1.4.5.2. Product Strategy 18.1.4.5.3. Channel Strategy 18.1.5. Ambisea Technology Corp 18.1.5.1. Overview 18.1.5.2. Product Portfolio 18.1.5.3. Profitability by Market Segments 18.1.5.4. Sales Footprint 18.1.5.5. Strategy Overview 18.1.5.5.1. Marketing Strategy 18.1.5.5.2. Product Strategy 18.1.5.5.3. Channel Strategy 18.1.6. HD Medical Inc. 18.1.6.1. Overview 18.1.6.2. Product Portfolio 18.1.6.3. Profitability by Market Segments 18.1.6.4. Sales Footprint 18.1.6.5. Strategy Overview 18.1.6.5.1. Marketing Strategy 18.1.6.5.2. Product Strategy 18.1.6.5.3. Channel Strategy 18.1.7. Cardionics Inc. 18.1.7.1. Overview 18.1.7.2. Product Portfolio 18.1.7.3. Profitability by Market Segments 18.1.7.4. Sales Footprint 18.1.7.5. Strategy Overview 18.1.7.5.1. Marketing Strategy 18.1.7.5.2. Product Strategy 18.1.7.5.3. Channel Strategy 19. Assumptions & Acronyms Used 20. Research Methodology
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