The market for stethoscope hygiene devices is estimated to be worth USD 47.4 Million in 2022, according to Future Market Insights’ most recent industry analysis. Over the course of the forecast period, the market is expected to grow at a CAGR of nearly 6.9%, with an estimated USD 91.4 Million in valuation in 2032.
The stethoscope hygiene devices market is growing due to the rising demand for stethoscope use due to increasing geriatric population. The need for sophisticated stethoscopes has increased due to the rise in the number of elderly people seeking primary diagnoses for a variety of chronic illnesses.
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According to the CDC, it is known that adults over 65 have a higher risk of getting serious health issues like heart disease, the flu, chronic obstructive pulmonary disease, asthma, and other disorders.
The World Ageing 2019 report estimates that there were around 703 million adults worldwide in 2019 who were 65 years of age or older. In 2050, this number is projected to double to 1.5 billion. This important factor will lead to increased use of the device and can further lead to need to maintain proper stethoscope hygiene, which will help the market in receiving a boost.
This market is constrained by a knowledge gap about stethoscope disinfection and a lack of experience in this area. This knowledge gap provides a potential to avenue to be improved upon to contribute towards maintaining proper stethoscope hygiene by creating awareness about it.
These factors will prove to be important, as rise in use of stethoscopes will lead to the increased demand and production of stethoscope hygiene devices, and hence provide lucrative outlook for growth for the market.
Key Takeaways from Market Study
- Desk-top stethoscope hygiene device is the leading segment as product, and holds approximately 86.6% market value share in 2021, owing to their widespread availability in the market and limited availability of wearable stethoscope hygiene devices.
- UV segment is set to lead in terms of technology of stethoscope hygiene devices, with a market value share of around 80.3% in 2021 because UV is widely used for disinfection of all different kinds of things like surface disinfection, etc. as these rays are known for killing the microorganism present on the contaminated object.
- In 2021, hospitals hold the largest market share value at 30.6%. This segment has become a dominating fragment due to the abundance and diversity of healthcare professionals in the market.
- South Asia is considered the one most lucrative region with growth at a CAGR of 7.6% at the end of the forecast period, owing to the presence of market-specific products from India that have been launched recently.
“Rising demand for stethoscope use due to increasing geriatric population, and rising rates of nosocomial infection proliferation, are set to propel the sales of stethoscope hygiene devices across the globe,” says an analyst of Future Market Insights.
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Market Competition
There are only a few new and existing players operating in the stethoscope hygiene devices market, which is highly concentrated. For the purpose of capturing that market, businesses are launching new products in various geographical locations.
- In 2020, Vioguard launched Cubby Plus UV-C disinfecting chamber with application at home as well as in healthcare facilities.
- On February 15, 2021, the Indian business Xech introduced the first stethoscope steriliser in the country, the Xech Sterostet, which sterilises stethoscope diaphragms of all sizes using specialised UV-C GI technology.
Key Companies Profiled
LightProgress/eHealth; Xech; Your First Services Inc.; Vioguard; Edmund Optics; Parsons; UV Smart; Tangshan UMG Medical Instrument Co., Ltd.
Key Market Segments Covered in Stethoscope Hygiene Devices Industry Research
By Product:
- Wearable
- Desk-Top
By Usage:
- UV
- Glass Plasma
By End User:
- Hospitals
- Clinics
- Academic & Research Institutions
- Ambulatory Care Centres
- Others
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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