With the emergence and long-term Impact of COVID-19, the Global Digital Stethoscope Market is to reach USD 166.34 Billion by 2030
Bizwit Research & Consulting LLP’s Recent Analysis on Global Digital Stethoscope Market is poised to raise up to USD 166.34 Billion by 2030. A digital stethoscope is a medical gadget that transmits heart and lung sounds to a speaker or headphones using electronic technology. It has the capacity to transform an acoustic sound into electronic impulses that are then amplified for the optimal possible hearing. The growing incidences of chronic diseases, rising geriatric population, growing healthcare expenditure, and rising government initiatives to promote the use of digital stethoscopes in healthcare settings are the key driving factors for market growth across the globe. In addition, stipulating demand for remote patient monitoring and telehealth services is playing a vital role in the market growth during the estimated period. Digital stethoscopes are adopted to remotely monitor patients’ heart and lung sounds, which assist healthcare professionals to offer enhanced care for patients who are unable to travel to a healthcare facility. According to Statista, in 2019, the telemedicine sector was estimated to value USD 49.9 billion globally. Also, it is anticipated to grow and is expected to reach USD 277.9 billion by 2025. Moreover, the rising adoption of next-generation technology, as well as the increasing focus on patient-centered care presents various lucrative opportunities over the forecast years. However, the high cost of digital stethoscopes and the complexities associated with digital stethoscopes are hindering market growth throughout the forecast period of 2023-2030.
Geographically, the global Digital Stethoscope Market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). North America dominated the market in 2022 with the largest market share owing to the high R&D investments by major market players, the rising prevalence of chronic disorders, and increasing number of initiatives for healthcare infrastructure development. Whereas, the Asia Pacific region is expected to grow at the highest CAGR over the forecast years. The growing geriatric population, rising adoption of technologically advanced devices, and increasing healthcare expenditures are significantly propelling the market demand across the region.
The global Digital Stethoscope Market is highly competitive owing to the presence of several key manufacturers such as 3M (Minnesota Mining and Manufacturing Company), eKuore Technologies, Inc., American Diagnostic Corporation, Contec Medical Systems Co., Ltd., Meditech Equipment Co., Ltd., Ayu Devices, Thinklabs Medical LLC, and others.
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Key findings of the study suggest:
- Global Digital Stethoscope Market is anticipated to grow with a healthy growth rate of more than 6.36% over the forecast period 2023-2030.
- In the Application segment, cardiology emerged as the leading market segment in 2022.
- North America is anticipated to drive regional growth owing to increasing number of initiatives for healthcare infrastructure development.
- Asia Pacific is expected to grow at a high CAGR followed by North America during 2023-2030.
Bizwit Research & Consulting has considered the following segments for the study:
By Product Type:
- Amplifying Stethoscope
- Digitalization Stethoscope
By Technology:
- Integrated Chest-Piece System
- Wireless Transmission System
- Integrated Receiver Head-Piece System
By Application:
- General Medicine
- Cardiology
- Telemedicine
- Veterinary
- Pediatrics
By End-use:
- Hospitals & Clinics
- Home Healthcare
- Nurse Practitioners
- EMT/ First Responders
- Veterinary
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. The company has a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. Bizwit incorporate big data, expert analysis, and huge industry database to deliver client focused business consulting reports. Our analysts perform unbiased measurement and assessment of market opportunities to comprehend detailed market forecast. Our team of key opinion leaders evaluates the market size, growth prospects, end-use, applications, value & supply chain and top vendors in the industry to help the clients to take conversant business decisions without any vague assumptions.
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