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Market Research Report

Global Electronic Stethoscope Market - 2018-2026

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Global Electronic Stethoscope Market - 2018-2026
Published: September 30, 2020 Content info: 158 Pages
Description

Market Overview

The Global Electronic Stethoscope Market is expected to grow at a CAGR of 5.1% during the forecasting period (2020-2027).

Most heart conditions can be reflected in or associated with the sounds that the heart produces. Heart auscultation, which is the listening of heart sounds, has been an essential age-old method for the diagnosis of cardiac dysfunction. However, auscultation entails considerable clinical experience and excellent listening skills. But, with the advent of the electronic stethoscope, the disadvantages of a traditional stethoscope is overcome and electronic stethoscope has paved the way for a new field of computer-aided auscultation. Electronic stethoscopes utilize advanced technology and circuitry to overcome the shallow sound levels that are heard in traditional stethoscopes by electronically amplifying body sounds. The sound can also be digitized, encoded, decoded, and recorded to have the ambient noise reduced or eliminated, and sent through speakers.

Market Dynamics

The global Electronic Stethoscope market is primarily driven by the growing incidences of cardiac and pulmonary disorders, rising healthcare expenditure and technological advancements in the device.

According to the World Health Organization (WHO), cardiovascular diseases (CVD) are the number 1 cause of death globally, and an estimated 17.9 million people died from CVDs in 2016, representing 31% of all global deaths. Of these deaths, 85% are due to heart attack and stroke.

Additionally, the increasing geriatric population who are highly susceptible to chronic conditions are expected to boost market growth.

However, the high cost of the digital stethoscope compared to a regular stethoscope may hinder the growth of the global market.

Market Segmentation Analysis

By Product Type, the global Electronic Stethoscope market is bifurcated into Amplifying Stethoscopes and Digitizing Stethoscopes. Digitizing Stethoscopes holds the most significant market share owing to its ability to record, store, and amplify the sound. Digitizing stethoscopes can convert the audio sound to a digital signal and transmit consecutive audio data that can be shared real-time or filter the sound frequencies. This helps practitioners or physicians to maintain patients' medical data. Currently available digital stethoscopes allow practitioners to choose different frequency response modes, allowing the listener to efficiently examine sounds from the heart, lungs, and other body parts.

By Technology, the global Electronic Stethoscope market is segmented into Integrated Chest-Piece System, Wireless Transmission System, Integrated Receiver Head-Piece System, and others.

Geographical Share

Geographically, the global Electronic Stethoscope market is divided into North America, Europe, South America, Asia-Pacific and the Middle East and Africa.

North America is expected to hold the most substantial market share in the global digital stethoscope market due to the availability of innovative products in the region. The US stethoscopes market dominates the regional electronic stethoscope market due to the country's high healthcare expenditure and rising incidence rate of cardiopulmonary diseases.

According to the Centers for Disease Control and Prevention (CDC), about 610,000 people die of heart disease in the US every year-that is 1 in every four deaths. Annually approximately 735,000 Americans have a heart attack. Of these, 525,000 are a first heart attack and 210,000 happen in people who have previously had a heart attack. Moreover, the presence of Key market players such as 3M in the country gives a positive impact on the industry's growth.

Europe is anticipated to see momentous growth over the forecast period, due to increasing launches and availability of innovative products in the region. For instance, in 2016, Ekuore, a Spain-based company, gets official certifications to produce and commercialize the first digital wireless stethoscope in the health system, eKuore Pro. The UK and Germany hold the most substantial regional markets in Europe, with Germany being the dominator due to several partnerships and innovations such as Bluetooth-enabled stethoscopes in the region.

Competitive Trends

Key players are adopting strategies such as mergers and acquisitions, partnerships, and regional expansion to stand out as strong competitors in the market. Recent product launches, approvals are other strategies competitors are using to distinguish themselves from the rest. Few of the recent competitive strategies include -

In March 2019, Northwestern Medicine announced that it has partnered with Eko, a startup that has developed a cardiac monitoring platform, to more accurately screen for valvular heart disease. The Chicago-based hospital system is conducting a study to demonstrate that Eko's digital stethoscopes and AI algorithms can interpret heart sounds accurately to help screen for pathologic heart murmurs and valvular heart disease.

November 2018, eKuore, Spanish technology firm, launched its new device eKuore ONE the interface for stethoscopes that digitalizes and records the auscultation sound through smartphones or tablets.

November 2018, The Mayo Clinic is launching a mHealth project to determine whether a digital stethoscope can be used to screen for damaged hearts. The health system is teaming up with Eko to test the company's Duo Digital Stethoscope on patients diagnosed with asymptomatic left ventricular dysfunction. Eko and Mayo Clinic will work together to develop and commercialize a machine learning-based algorithm that screens patients for the presence of a low ejection fraction - a weak heart pump.

April 2018, Steth IO launched a smartphone-based digital stethoscope that received FDA approval in 2016. This device helps doctor to listen and also measure heart rates or lung sounds just by operating an app on phone and by placing it close to the patient's chest.

In June 2017, Eko Devices, a leader in mobile acoustic cardiac monitoring tools, received FDA clearance to market its innovation, DUO - a combined digital stethoscope and electrocardiogram (ECG). The portable cardiac device was inspired by cardiologists' demand for more effective monitoring tools for heart disease - the leading cause of death in the United States.

In February 2017, Eko Core digital stethoscope received approval from Health Canada due to its advantages such as improved speed and accuracy to diagnose illness by increasing heart and lung sounds by 40 times and generating a digital file that can be stored and shared.

Key Takeaways

The global Electronic Stethoscope market is primarily driven by the growing incidences of cardiac and pulmonary disorders, rising healthcare expenditure and technological advancements in the device.

Digitizing Stethoscopes holds the most significant market share owing to its ability to record, store, and amplify the sound.

North America is expected to hold the most substantial market share in the global digital stethoscope market due to the availability of innovative products in the region. U.S. stethoscopes market dominates the regional electronic stethoscope market due to the country's high healthcare expenditure and rising incidence rate of cardiopulmonary diseases.

Recent product launches and approvals are other strategies competitors are using to distinguish themselves from the rest. For instance, in November 2018, eKuore, Spanish technology firm, launched its new device eKuore ONE the interface for stethoscopes that digitalizes and records the auscultation sound through smartphones or tablets.

Why Purchase the Report?

Visualize the composition of the global Electronic Stethoscope Market across each indication, in terms of device options, highlighting the key commercial assets and players.

Identify commercial opportunities in global Electronic Stethoscope Market by analyzing trends and co-development deals.

Excel data sheet with thousands of data points of the global Electronic Stethoscope Market - level 4/5 segmentation.

PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.

Product mapping in excel for the key products of all major market players.

Target Audience:

Equipment Suppliers/ Buyers

Service Providers/ Buyers

Industry Investors/Investment Bankers

Education & Research Institutes

Research Professionals

Emerging Companies

Manufacturers

Table of Contents

Table of Contents

1. Electronic Stethoscope Market - Methodology and Scope

  • 1.1. Research methodology
  • 1.2. Research Objective and Scope of the Report

2. Electronic Stethoscope Market - Market Definition and Overview

3. Electronic Stethoscope Market - Executive Summary

  • 3.1. Market Snippet by Product Type
  • 3.2. Market Snippet by Technology
  • 3.3. Market Snippet by End-User
  • 3.4. Market Snippet by Region
  • 3.5. DataM CLO Scenario

4. Electronic Stethoscope Market - Market Dynamics

  • 4.1. Market Impacting Factors
  • 4.2. Drivers
    • 4.2.1. Incidences Of Cardiac And Pulmonary Ailments
    • 4.2.2. Technological Advancements In The Device
    • 4.2.3. Driver 3
  • 4.3. Restraints
    • 4.3.1. High Cost Of digital stethoscope
    • 4.3.2. Restraint 2
  • 4.4. Impact Analysis

5. Electronic Stethoscope Market - Industry Analysis

  • 5.1. Porter's Five Forces Analysis

6. Electronic Stethoscope Market By Product Type

  • 6.1. Introduction
    • 6.1.1. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Product Type Segment
    • 6.1.2. Market Attractiveness Index, By Product Type Segment
  • 6.2. Amplifying Stethoscopes
  • 6.3. Digitizing Stethoscopes

7. Electronic Stethoscope Market - By Technology

  • 7.1. Introduction
    • 7.1.1. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Technology Segment
    • 7.1.2. Market Attractiveness Index, By Technology Segment
  • 7.2. Integrated Chest-Piece System
  • 7.3. Wireless Transmission System
  • 7.4. Integrated Receiver Head-Piece System
  • 7.5. Others

8. Electronic Stethoscope Market - By End-User

  • 8.1. Introduction
    • 8.1.1. Market Size Analysis, and Y-o-Y Growth Analysis (%), By End-User Segment
    • 8.1.2. Market Attractiveness Index, By End-User Segment
  • 8.2. Hospital
  • 8.3. Clinics & Ambulatory Surgery Centers
  • 8.4. Others

9. Electronic Stethoscope Market - By Region

  • 9.1. North America
    • 9.1.1. U.S.
    • 9.1.2. Canada
    • 9.1.3. Mexico
  • 9.2. Europe
    • 9.2.1. Germany
    • 9.2.2. U.K.
    • 9.2.3. France
    • 9.2.4. Italy
    • 9.2.5. Spain
    • 9.2.6. Rest of Europe
  • 9.3. South America
    • 9.3.1. Brazil
    • 9.3.2. Argentina
    • 9.3.3. Rest of South America
  • 9.4. Asia Pacific
    • 9.4.1. China
    • 9.4.2. India
    • 9.4.3. Japan
    • 9.4.4. Australia
    • 9.4.5. Rest of Asia Pacific
  • 9.5. The Middle East and Africa

10. Electronic Stethoscope Market Competitive Landscape

  • 10.1. Competitive Scenario
  • 10.2. Competitor Strategy Analysis
  • 10.3. Comparative Product Portfolio Analysis
  • 10.4. Market Positioning/Share Analysis
  • 10.5. Mergers and Acquisitions Analysis

11. Electronic Stethoscope Market - Company Profiles

  • 11.1. 3M
  • 11.2. Company overview
  • 11.3. Product portfolio and description
  • 11.4. Key highlights
  • 11.5. Financial overview
  • 11.6. Welch Allyn
  • 11.7. Meditech Equipment Co.
  • 11.8. Eko Devices
  • 11.9. Contec Medical Systems
  • 11.10. Think Labs Medical LLC
  • 11.11. Cardionics, Inc.
  • 11.12. HD Medical
  • 11.13. Ekuore

12. Electronic Stethoscope Market - Premium Insights

13. Electronic Stethoscope Market - DataM

  • 13.1. Appendix
  • 13.2. About Us
  • 13.3. Contact Us
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