In a remarkable trajectory of growth, the global sales of electronic stethoscopes are set to soar in 2022. Surpassing the impressive milestone of half a million units sold in 2018, the market is poised for a robust 7.2% increase. This upward trend is projected to continue, with the electronic stethoscopes sector expected to generate a substantial incremental opportunity, amounting to an impressive US$ 170.9 million, spanning the years 2022 to 2029. This surge underscores the growing adoption of advanced medical technology and the increasing demand for precise diagnostics in the healthcare industry, reaffirming the vital role electronic stethoscopes play in modern medicine.
Key Manufacturers Continue to Strategize on New Product Launches in Electronic Stethoscopes Landscape
Almost 2/5th of total adoption of electronic stethoscopes is registered at hospitals, the report underscores that there has been significant adoption by medical institutes in the recent past. In the next few years, medical institutes and ambulatory surgical centers are likely to create multiple opportunities for manufacturers of electronic stethoscopes.
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More than half of the overall sales is accounted by amplifying electronic stethoscopes, as indicated by FMI’s analysis. While amplifying electronic stethoscopes provide results as accurate as digitizing electronic stethoscopes, the latter are associated with high maintenance owing to the presence of multiple electronic components. Amplifying electronic stethoscopes are thus expected to observe significant growth in revenue over the course of coming years.
According to the report, the market attractiveness of amplifying stethoscopes is strongly backed by the increasing number of launches of new electronic stethoscopes by a number of small- and medium-sized companies. Electronic stethoscopes are rapidly replacing conventional variants across developed countries, predominantly owing to accelerated regulatory approvals.
- eKuore had launched the first wireless stethoscope for medical use.
- Eko had launched the first Android–connected digital stethoscope.
- In April 2018, Steth IO launched a digital smartphone-enabled stethoscope.
According to the report, approximately 60% of the electronic stethoscopes that are sold are enabled with Bluetooth technology and an integrated chest piece system. The former is however poised to witness a higher rate of adoption over the coming years.
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North America Continues to Lead the Global Market for Electronic Stethoscopes
North America holds a considerable revenue share in the electronic stethoscopes market. With advancements in technology and the presence of a large number of healthcare facilities, electronic stethoscopes are being widely used in the region. Their ability to provide amplified sound output as well as reduce external sound makes it easy for medical professionals to detect sounds and provide proper treatment to patients.
FMI’s study has profiled some of the key companies operating in the global electronic stethoscopes market, including Eko Devices, eKuore, GlobalMed, 3M, Welch Allyn, Ambisea Technology Corp., Meditech Equipment Co., Ltd, HD Medical, Thinklabs, ADInstruments, and Cardionics Inc.
Electronic Stethoscope Market by Category Product:
- Amplifying Stethoscopes
- Digitizing Stethoscopes
End User:
- Hospitals
- Clinics
- Medical Institutes
- Ambulatory Surgical Centers
- Homecare Settings
- Medical Camps
- Catheterization Laboratories
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Application:
- Integrated Chest-Piece System
- Wireless Transmission System (Bluetooth)
- Integrated Receiver Head-Piece System
- Other
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