Expanding Healthcare Needs and Technology Advancements Drive the Global Stethoscopes Market, According to New Report by Global Industry Analysts, Inc.
San Jose, California (PRWEB) November 06, 2013 -- Follow us on LinkedIn – Global market for stethoscopes is expected to witness steady growth in the short-to-medium term period driven by a combination of favorable factors including growing healthcare needs, improving access to healthcare and rising per capita healthcare spends in both developed and developing countries. Other factors driving growth include rising standards of living, aging population and continued enhancements in stethoscope design in terms of improved performance and better acoustics. Despite the advent of several newer technologies such as electrocardiography, hand-held ultrasounds, among others, stethoscopes continue to be the primary device used by healthcare professionals for listening to sounds emanating from the heart and other body organs.
Electronic Stethoscopes, which offer amplified sounds and thereby better diagnosis of patient condition, will continue to gain over conventional stethoscopes. As a result, the share of manual and mechanical stethoscopes in the global stethoscopes market is expected to reduce over the coming years. However, despite loss of share, mechanical and manual stethoscopes will be the most sold stethoscope types owing to their huge popularity. Another stethoscope type providing significant growth opportunities is the Fetal Heart Rate Detector. Growth for fetal heart rate detectors is expected to match that of electronic stethoscopes driven by the rising emphasis the world over on reducing infant mortality.
Technological advancements are helping spearhead growth in the global market. Wireless stethoscopes, blue-tooth enabled stethoscopes with recorded playback, stethoscopes incorporating ultrasound technology, and stethoscopes apps are opening up newer avenues for growth. CardioSleeve represents another unique stethoscope accessory device capable of recording, displaying and analyzing the heart’s acoustical and electrical footprints in real time. Although still in the conceptual stage, Optical Stethoscope is also expected to garner considerable interest among healthcare professionals in the coming years. Featuring a built-in battery, optical stethoscopes are capable of displaying vital health data such as pulse and heart rate on the knob/screen.
As stated by the new market research report on Stethoscopes, the United States represent the largest market worldwide. The US, Europe and Japan will continue to be major markets despite being fairly mature. On the other hand, owing to a rapid increase in healthcare access and spending in several developing and underdeveloped countries, Asia-Pacific and Latin America are expected to uncover their true potential over the coming years. Asia-Pacific particularly is expected to spearhead growth with the fastest CAGR of 5.3% over the analysis period, driven by the fast growing healthcare markets in China and India.
Major companies covered in the report include 3M, A&D Medical, American Diagnostic Corporation, Cardionics Inc., GF Health Products Inc., Medline Industries Inc., Rudolf Riester GmbH & Co. KG, Tytan Medical Equipment (Shanghai) Co. Ltd., and Welch Allyn, Inc.
The research report titled “Stethoscopes: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, product launches, acquisitions, collaborations and other strategic industry activities. The report provides market estimates and projections in US dollars for major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America) and Rest of World.
For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Stethoscopes_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/
Public Relations, Global Industry Analysts, Inc., http://www.StrategyR.com/, 408-528-9966, [email protected]
Share this article