The U.S. Stethoscope Market size is expected to reach USD 211.06 million by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.0% from 2021 to 2028. The increasing application of digital stethoscopes in the diagnosis of chronic conditions and rapid technological advancements in stethoscopes are expected to significantly boost the adoption of these devices over the forecast period.
In addition, with the rise in the number of COVID-19
cases, there will be a significant increase in the use of stethoscopes in the
country. Since COVID-19 is extremely infectious and a respiratory ailment,
initial detection by listening to the lungs and heart is of the utmost
importance in any clinical setting. Hence, the market is expected to witness
significant and continuous growth even after the end of the pandemic. Moreover,
the launch of a digital/smart stethoscope that uses Artificial
Intelligence (AI) to record and send recordings to physicians virtually
allows them to maintain social distancing and reduce exposure to COVID-19.
The incorporation of new technologies and the
introduction of innovative products by key market players are expected to
propel market growth during the forecast period. For instance, 3M has launched
‘Single-Patient Stethoscope’ to overcome the issues associated with current
disposable stethoscope options such as inadequate audibility and
uncomfortableness faced by healthcare professionals. It also helps in
minimizing the risk of cross-contamination in an isolation environment.
Related Press Release@ U.S. Stethoscope Market Report
U.S. Stethoscope Market Report
Highlights
- On the basis of technology type, the traditional acoustic
stethoscope segment dominated the market with a revenue share of 72.79% in
2020 as it is comparatively inexpensive, simple to use, and widely
available for use by paramedics and nurses
- Based on the sales channel, the distributors' segment dominated the
market with a revenue share of 43.03% in 2020. This is because hospitals
and clinics usually have long-term contracts and tie-ups with distributors
and manufacturers, which save on consignment and other delivery costs
- On the basis of end use, the hospitals' segment dominated the
market with a revenue share of 41.99% in 2020 and is expected to expand at
the highest CAGR during the forecast period
- The expansion of distribution network across the U.S.is also
expected to endorse key players to increase market penetration
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