PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1311105
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1311105
Global Digital Stethoscope Market is valued at approximately USD 101.57 million in 2022 and is anticipated to grow with a healthy growth rate of more than 6.36% over the forecast period 2023-2030. A digital stethoscope is a medical gadget that transmits heart and lung sounds to a speaker or headphones using electronic technology. It has the capacity to transform an acoustic sound into electronic impulses that are then amplified for the optimal possible hearing. These electronic impulses are further processed and converted to digital form before being transmitted to a laptop or personal computer. The growing incidences of chronic diseases, rising geriatric population, growing healthcare expenditure, and rising government initiatives to promote the use of digital stethoscopes in healthcare settings are the key driving factors for the market growth across the globe.
In addition, stipulating demand for remote patient monitoring and telehealth services is playing vital role in the market growth during the estimated period. Digital stethoscopes are adopted to remotely monitor patients' heart and lung sounds, which assist healthcare professionals to offer enhanced care for patients who are unable to travel to a healthcare facility. According to Statista, in 2019, the telemedicine sector was estimated to value USD 49.9 billion globally. Also, it is anticipated to grow and is expected to reach USD 277.9 billion by 2025. Also, many telemedicine startups, including Steth IO, have introduced digital stethoscopes integrated into smartphones that enable doctors to hear to and measure heart rates and lung sounds using a mobile application by simply placing the phone up to a patient's chest. Therefore, these factors are fueling the market growth at a considerable rate. Moreover, the rising adoption of next-generation technology, as well as the increasing focus on patient-centered care presents various lucrative opportunities over the forecast years. However, the high cost of digital stethoscopes and complexities associated with the digital stethoscopes are hindering the market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Digital Stethoscope Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 with largest market share owing to the high R&D investments by major market players, rising prevalence of chronic disorders, and increasing number of initiatives for the healthcare infrastructure development. Whereas, Asia Pacific region is expected to grow at the highest CAGR over the forecast years. The growing geriatric population, rising adoption of technologically advanced devices and increasing healthcare expenditure are significantly propelling the market demand across the region.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of tables and figures and dummy in nature, final lists may vary in the final deliverable