A report from Transparency Market Research, titled “Stethoscopes Market - Global Industry Size, Market Share, Trends, Analysis And Forecasts 2012 - 2018”, states that the global stethoscopes market is predicted to reach US$342 mn by 2017 due to increasing demand for fetal heart rate detectors and electronic stethoscopes.
Enhanced digital sound transmission capability of digital stethoscopes has led to the development of electronic stethoscopes in the global stethoscopes market. The global stethoscopes market is segmented on the basis of geography and product. By geography, the global stethoscopes market is divided into North America, Europe, Asia Pacific, and Rest of the World. Demand for various types of stethoscopes is expected to increase from Asia Pacific and Latin America in the coming years.
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3M, American Diagnostic Corporation, Escalon Medical Corporation, Medi-Stim ASA, Tytan Medical Corp., A&D Medical, Rudolf Riester GmbH & Co. KG, GF Health Products Inc., Medline Industries Inc., and Welch Allyn Inc. are some of the prominent players in the global stethoscopes market. The introduction of highly advanced stethoscopes by the new players is expected to increase the level of competition for the leading players in the years to come.
Based on product type, the global stethoscope market is classified into manual and mechanical stethoscopes, fetal stethoscopes, fetal heart rate detectors, electronic stethoscopes, and esophageal stethoscopes. Electronic stethoscopes, due to their advanced features, are predicted to be the dominant sector in the global stethoscope market in the years to come. Digital stethoscopes have become the trend in the global stethoscopes market since the past few years. Advanced features such as the ability to record sound, remove any external sound for accurate diagnosis, and capacity to amplify the recorded sound are expected to generate demand for digital stethoscopes in the coming few years. Digital stethoscopes are also featured with software that enables medical professionals or physicians to generalize the readings in order to monitor the patient’s heart rate.
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Leading manufacturers in the global stethoscopes market are focusing on developing stethoscopes with better features, enhanced acoustics, high performance, and new designs. The fetal heart rate detectors segment is expected to progress rapidly in the years to come due to its focus on reducing the rates of infant mortality. In spite of the discovery of advanced technologies such as handheld ultrasound systems, healthcare professionals prefer using stethoscopes for physical examination of the patients. The growing aging population is expected to contribute towards the growth of the global stethoscope market in the years to come.
Advancements in stethoscopes and new features have led to the growth of the global market for stethoscopes in the recent past. Improved standards of living, increasing income of the people, rising aging population, and advancements in the technology are some of the major factors expected to drive the global market for stethoscopes in the years to come. However, the high cost of fully featured electric stethoscopes is the major factor expected to restrict the growth of the global stethoscope market in the coming few years.
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