Global Stethoscope Market Report

Date: 1 August 2019

According to a research report published by Azoth Analytics in July 2019, the Global Stethoscope Market was valued at USD 365.91 million the year 2018. Globally, the growth in the market for Stethoscope has been chiefly supported by ever increasing geriatric population and rising middle class families backed with enhanced expectation of patients to receive quality healthcare from the medical service providers and hospitals focusing on reducing the waiting time while keeping the costs of the surgeries low, which is supplementing the global stethoscopes market growth during the historical period.

The Azoth Analytics research report titled Global Stethoscope Market has analysed and segmented the Stethoscope Market by Value (USD Million). The report has also further analysed the Stethoscope Market By Product Type (Manual Stethoscope and Electronic Stethoscope), and By Applications (Hospitals, Ambulatory Surgical Centers, Clinics, Home Care and Others). The Global Stethoscope Market has been analysed By Region (North America, Europe, APAC, ROW) and By Country (US, Canada, Germany, France, UK, Italy, China, Japan, India, South Korea) for the historical period of 2014-2018 and the forecast period of 2019-2024.

Global Stethoscope market is primarily driven by growing urbanization and major initiatives taken by government in developing countries and implementing various policies and focusing on improving the access to healthcare services for citizens while making it affordable for patients backed with relaxed FDI policies so as to attract investments in the healthcare industry. All these factors are driving a considerable growth in the market for Stethoscopes during the period of 2014-2018.

Manual Stethoscope and Hospitals, under their respective segments, have been witnessing growth at a notable rate over the past few years as major Stethoscope manufacturers are mainly focusing on providing electronic or digital stethoscopes to clinicians and physicians owing to greater level of convenience associated with them other than captivating features such as sound recording, Bluetooth connectivity, sound amplification for better sound quality among others clubbed with growing prevalence of chronic and respiratory diseases which are resulting in greater number of deaths, has been anticipated to accelerate the market for Stethoscope during the coming years.

Amongst the regions, North America accounts for the largest regional share in the Global Stethoscope market in 2019. Key factors driving the robust growth rate of North America include rapid adoption of advanced technologies by healthcare service providers with burgeoning demand arising for electronic stethoscope supported by growing number of companies offering home healthcare services to the patients who are seeking extra care at their convenience, which is spurring the Stethoscope market growth in the region during the estimated period.