U.S. Stethoscope Industry Overview
The U.S. stethoscope market size was valued at USD 143.42 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.0% from 2021 to 2028.
Increasing cardiovascular and respiratory diseases and the growing aging population are the major factors expected to drive the U.S. market. In addition, the adoption of technologically advanced products, such as Bluetooth integrated stethoscopes, and various government initiatives are few more factors contributing to the growth of the market. Moreover, the recent outbreak of COVID-19 has increased the demand for modern digitized stethoscopes in the country. This pandemic has also led to the implementation and use of telemedicine and telehealth platforms and wearable devices as part of current standards of care in many healthcare facilities to avoid the risk of cross-contamination. Since auscultation of the lungs is generally the first procedure to determine whether the lungs are infected with COVID-19 infection or not, therefore, it is increasing the demand for stethoscopes among the end-users, starting from physicians to hospitals or home care providers. This has triggered a sudden surge in the market growth in the U.S., creating infinite prospects for market players.
Gather more insights about the market drivers, restrains and growth of the U.S. Stethoscope Market
The rapidly increasing geriatric population has increased the demand for stethoscopes for the primary diagnosis of numerous chronic health ailments. As per the CDC, it has been recognized that people aged above 65 years are at a higher risk of developing severe health problems, such as heart disease, common cold and flu, asthma, chronic obstructive pulmonary disease (COPD), and other conditions. According to the U.S. Census Bureau 2019 report, there are more than 54 million older adults aged 65 and older living in the U.S. This number is estimated to double to 95 million by 2060. This factor is anticipated to be one of the high growth rendering factors for the U.S. market.
The rising prevalence of heart-related diseases and various respiratory illnesses, such as asthma, acute bronchitis, cystic fibrosis, and emphysema, is propelling the market growth in the U.S. According to the American Heart Association 2016, Heart Disease and Stroke Statistics-2019 Update, almost 121.5 million adults had some form of cardiovascular disease. Similarly, as per the CDC, 4.6% of adults were diagnosed with COPD, emphysema, or chronic bronchitis in 2019. For the primary diagnosis of cardiac dysfunction and phlegm in the respiratory tract, a stethoscope is widely used to primarily examine such conditions. Thus, an increasing number of patients suffering from cardiovascular and numerous types of respiratory diseases is majorly driving the market in the U.S.
Furthermore, an increasing number of initiatives and programs being undertaken by the government of the U.S. to improve public awareness and treatment related to chronic disorders is expected to fuel the market growth over the forecast period. For instance, a national initiative called “Million Hearts 2022” is taken to prevent 1 million heart attacks within 5 years. It is a combined initiative led by the Centers for Medicare Medicaid Services (CMS) and the Centers for Disease Control and Prevention (CDC). Similarly, the National Heart, Lung, and Blood Institute has launched a national campaign: Learn More, Breathe Better, to raise awareness and understanding of COPD and its risk factors. Moreover, this campaign helps in the early detection and treatment in slowing the disease and improving the quality of life. Thus, rising awareness among the general population regarding the treatment and initiatives taken by the government to prevent the rate of associated disorders is likely to boost the market growth.
The growing prevalence of respiratory and cardiovascular diseases, the presence of established infrastructure, and favorable reimbursement structure are among the key factors driving the stethoscope market in the U.S. As projected by the American Heart Association, by 2035, more than 130 million adults or 45.1% of the U.S. population are estimated to suffer from some form of cardiovascular disease. In addition, according to the CDC, about 655,000 Americans die from heart disease annually, representing one in every four deaths. Thus, the incidence of cardiovascular diseases is rising in the U.S., which, in turn, is likely to boost the demand for stethoscopes in the country. Moreover, rapid technological advancements, coupled with the frequent launch of new and innovative products, are among the key factors expected to fuel the market growth during the forecast period.
Additionally, medical device manufacturers are focused on product development with the adoption of smart sensors that help in the introduction of wireless products with advanced features. Companies are investing in new technologies and launching new products to cater to the growing needs of consumers. These technologies will help cater to the needs of patients suffering from various respiratory and cardiovascular disorders in a better way. For instance, Eko Devices, Inc.’s DUO ECG + Digital Stethoscope is a two-in-one electronic stethoscope, which tracks electrical activity and can be integrated with hospital electronic health records. Similarly, Thinklabs One stethoscope by Thinklabs allows monitoring of patients in ICU and biocontainment units and is safe and recommended for use on COVID-19 patients. Since the Ebola crisis, hospitals across the U.S. have adopted Thinklabs One for the care of patients suffering from infectious diseases. Thus, stethoscopes with advanced features and modern technology have the strongest growth potential in the U.S. market.
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U.S. Stethoscope Market Segmentation
Grand View Research has segmented the U.S. stethoscope market on the basis of technology type, sales channel, end use, and state:
U.S. Stethoscope Technology Type Outlook (Revenue, USD Million, 2016 - 2028)
- Electronic/Digital Stethoscope
- Smart Stethoscope
- Traditional Acoustic Stethoscope
U.S. Stethoscope Sales Channel Outlook (Revenue, USD Million, 2016 - 2028)
- Distributors
- E-commerce
- Direct Purchase
U.S. Stethoscope End-use Outlook (Revenue, USD Million, 2016 - 2028)
- Home Healthcare
- Hospitals
- Clinics
- Nurse Practitioners
- EMT/ First Responders
- Veterinary
U.S. Stethoscope State Outlook (Revenue, USD Million, 2016 - 2028)
- California
- New York
- Texas
- Florida
- Pennsylvania
- Illinois
- Ohio
- Michigan
- Massachusetts
- New Jersey
- Rest of USA
Market Share Insights
- May 2018: 3M has launched ‘Single-Patient Stethoscope’ to overcome the issues associated with current disposable stethoscope options such as inadequate audibility, lack of durability, and uncomfortableness faced by healthcare professionals. This is a disposable stethoscope intended to provide excellent sound quality and comfort and boost patient care while helping minimize the risk of cross-contamination in an isolation environment.
Key Companies profiled:
Some prominent players in the U.S. stethoscope market include:
- 3M
- Medline Industries Inc.
- WelchAllyn (Hill-Rom Holdings, Inc.)
- Eko Devices Inc.
- GF Health Products, Inc.
- Rudolf Riester GmbH (HalmaPlc)
- American Diagnostics Corporation
- Cardionics
- Heine Optotechnik GmbH Co. KG.
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