Smart Stethoscope Market Size To Reach $76.9 Million By 2028, Infusion of Novel Technologies Aimed At Providing Better Healthcare Infrastructure For Patients To Drive Growth: Grand View Research, Inc.

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Jun 15, 2021, 04:35 ET

SAN FRANCISCO, June 15, 2021 /PRNewswire/ -- The global smart stethoscope market size is expected to reach USD 76.9 million by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.8% from 2021 to 2028. A surge in the geriatric population, high adoption of technologically advanced products, growing healthcare infrastructure, and various government initiatives are the key driving factors for the market.

Key Insights & Findings:

In terms of application, the cardiovascular segment held the largest revenue share of 28.7% in 2020 owing to the increasing prevalence of heart diseases
In terms of end-use, the hospitals segment held the largest revenue share in 2020. The segment growth is majorly driven by the increasing number prevalence of cardiac and lung disorders
In Asia Pacific, the market is expected to witness the highest CAGR of 7.5% during the forecast period owing to the rising aging population and presence of huge untapped potential

The smart stethoscope is user-friendly and cost-effective equipment that assists physicians in obtaining reliable results. Based on heart rate, these stethoscopes help in the diagnosis of respiratory diseases and disorders. Until now, the traditional stethoscope has played a significant role in the department of cardiology. Though, the medical device has some disadvantages, such as poor sound quality, which is particularly noticeable in obese patients and those with a thick chest wall. Hence, there is a booming demand for advanced stethoscopes to replace the traditional version of the medical, leading to market growth.

Access 90 page market research report, "Smart Stethoscope Market Size, Share & Trends Analysis Report By Application (Cardiovascular, Neonatal, Pediatric, Fetal, Teaching), By End Use (Hospitals, Clinics, Ambulatory Surgical Centers (ASCs)), By Region, And Segment Forecasts, 2021 - 2028'', By Grand View Research

High prevalence of cardiovascular disorders, enhanced diagnosis, are other factors driving the market. As projected by the WHO, heart disease is the leading cause of death in the U.S., causing around 647,000 deaths every year. Technological advances, as well as the continuous introduction of new and innovative products, are key drivers of business expansion. For instance, recently in July 2020, HD Medical received FDA clearance for its HD Steth that uses artificial intelligence to aid clinicians to perform an advanced cardiac assessment at point-of-care.

"Smart Stethoscopes help medical professionals in proper auscultation of COVID-19 patients, while wearing PPE which restricts a clear communication with patients."

Auscultation of the chest is important in COVID-19 patients, particularly those with poor respiratory conditions such as serious pneumonia and respiratory dysfunction, as well as intensive cases who are anesthetized and whose breathing is supported by a ventilator. Nevertheless, proper auscultation of these patients is challenging when medical staff wears personal protective equipment and when communicating with patients is restricted. In such cases, smart stethoscopes are witnessing a major upswing in popularity and novelty.

Grand View Research has segmented the global smart stethoscopes market on the basis of application, end use, and region:

Smart Stethoscope Application Outlook (Revenue, USD Million, 2016 - 2028)

Cardiovascular
Neonatal
Pediatric
Fetal
Teaching
Others

Smart Stethoscope End-use Outlook (Revenue, USD Million, 2016 - 2028)

Hospitals
Clinics
Ambulatory Surgical Centers (ASCs)

Smart Stethoscope Regional Outlook (Revenue, USD Million, 2016 - 2028)

North America

U.S.
Canada

Europe

U.K.
Germany
France
Italy
Spain

Asia Pacific

Japan
China
India
Australia
South Korea

Latin America

Brazil
Mexico
Argentina
Colombia

South Africa
Saudi Arabia
UAE

List of Key Players of Smart Stethoscope Market

3M
Thinklabs
HD Medical, Inc.
Eko Devices, Inc.
eKuore
M3DICINE Pty Ltd.
Sonavi Labs
Steth IO

Check out more studies related to Smart Healthcare Devices:

Smart Syringes Market – The global smart syringes market was valued at USD 4.75 billion in 2015. The high growth is anticipated on account of the increasing prevalence of various target diseases, the increase in the number of vaccinations, the growth of the geriatric population, and the need to prevent hospital or clinic-acquired infections.
Smart Medical Devices Market – The global smart medical devices market was valued USD 3.58 billion in 2016 and is expected to reach USD 24.46 billion by 2025 at a CAGR of 24.0% over the forecast period.

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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SOURCE Grand View Research, Inc.