Smart Stethoscopes Market - Global Industry Size, Share, Trends and Forecast 2020 - 2027

A stethoscope is an acoustic medical device for auscultation or listening to internal sounds of an animal or human body. It is used by a medical professional for diagnosis of patients.  

Market Dynamics

Gradual increase in number of patients suffering from chronic diseases, rapid technological advancements in medical devices, coupled with rising demand for advanced stethoscopes from healthcare professionals are major factors expected to drive the growth of global smart stethoscopes market. Medical device manufacturer are focused on product development with the adoption of smart sensors that help in introduction of wireless products with advanced features is impacting the growth of target market. Players are focused on simplifying the diagnosis procedures. Introduction of products from players that connects with smartphone and allows them to collect and send the auscultation to a specialist is attracting consumers. Manufactures approach towards enhancing the business and increase the customer base by introduction of innovative solutions is important factor expected to augment the growth of smart stethoscopes market.

• In 2018, M3DICINE Inc. a global manufacturer of medical devices launched Stethee the world’s first AI enabled stethoscope system. The product allows users to listen to heart and lungs sounds with sophisticated amplification and filtering technology and to instantly capture and analyze heart and lung sounds and data via Bluetooth to the Stethee iOS or Android App providing a whole new level of diagnostics capabilities. This product launch is expected to help the company to enhance the business and increase the customer base.
• In 2018, Steth IO a provider of advanced medical solutions launched smartphone-based stethoscope that visualizes heartbeats this is expected to help doctors detect and diagnose heart problems. The product launch is expected to help the company to enhance the business presence and increase the product portfolio.
• In 2018, eKuore a medical device company launched digital interface for stethoscopes that digitizes and records the auscultation sound through smartphones or tablets. This is expected to help company attract new customers and increase the revenue.

Players approach towards enhancing the business presence in the emerging economies through strategic partnership and agreements and focus on strengthening the distribution channel is expected to boost the growth of smart stethoscopes market. Increasing government spending on development of advanced healthcare infrastructure and adoption of smart healthcare devices in order to facilitate the medical services are factors expected to support the growth of global smart stethoscopes market. Factors such as technological glitches and concern related to data security are factors expected to hamper the growth of global smart stethoscopes market. In addition, high cost of advanced devices is expected to challenge the growth of target market. However, factors such as increasing investment for technological advancements by major players and integration of AI in medical devices are factors expected to create new opportunities for players operating in the target market. In addition, increasing partnership between regional and international players is expected to support the revenue transaction of the target market.

Segment Analysis By Region

The market in North America is expected to account for major revenue share in the global smart stethoscopes market due to increasing number of patients suffering from chronic diseases and rise in adoption of advanced diagnostic devices from healthcare professionals. In addition, increasing government healthcare spending, presence of large number of players operating in the country and introduction of innovative solutions are factors expected to support the revenue transaction of the smart stethoscopes market.

The market in Asia Pacific is expected to witness faster growth in target market due to developing medical device standards. In addition, major players approach towards tracking the untapped market in developing countries is expected to segment the growth of smart stethoscopes regional market.

Competitive Landscape

The global smart stethoscopes market is high highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.

Report coverage

Smart Stethoscopes Market Segment Analysis, 2019

The global smart stethoscopes market is segmented into product type and end use. The product type segment is bifurcated into wireless stethoscopes and stethoscopes with wire. Among the product type the wireless stethoscopes is expected to witness faster growth in the target segment due to high penetration of smart sensors and introduction on new products from manufacturers. The end use segment is divided into hospitals, ambulatory surgical centers, private clinics, and others. Among the end use the hospital segment is expected to account for major revenue share in the smart stethoscopes market. The players profiled in the report are Thinklabs Medical LLC, 3M, HD Medical Group, Welch Allyn, Clinicloud Inc, American Diagnostic Corporation, eKuore and Cardionics.

Market Segmentation

Market By Product Type:

Wireless stethoscopes
Stethoscopes with wire

Market By End Use:

Hospitals
Ambulatory surgical centers
Private clinics
Others

Market By Geography

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Middle East & Africa