Global Smart Stethoscope Market Overview:
The rising prevalence of cardiovascular and respiratory disorders, technical improvements, the introduction of COVID-19, and the growing use of smart stethoscopes in the detection of chronic conditions are all driving market expansion. Furthermore, the rising prevalence of respiratory diseases such as asthma, emphysema, acute bronchitis, and cystic fibrosis is likely to increase the smart stethoscope market.
- Increase in Prevalence of Cardiac and Lung Diseases
- Rising Healthcare Expenditure and Increased Spending by Hospitals to Improve the Medical Facilities
- High Cost of Electronic Stethoscopes
- Surge in R&D Activities
- Leading Manufacturers are Focusing on to Manufacturer Improved and Specialized Version of Smart Stethoscope Systems
- Lack of Awareness in Emerging Nations
The companies are exploring the market by adopting expansions, investments, and new launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain a competitive advantage through combined collaborations.
Some of the key players profiled in the report are 3M (United States), Thinklabs (United States), HD Medical, Inc. (United States), Eko Devices, Inc. (United States), eKuore (Spain), M3DICINE Pty Ltd. ( Australia), Sonavi Labs (United States) and Steth IO (United States). Analyst at AMA Research see United States Players to retain maximum share of Global Smart Stethoscope market by 2026. Considering Market by End Use, the sub-segment i.e. Hospitals will boost the Smart Stethoscope market.
Latest Market Insights:
In January 2018, M3dicine launched Stethee ‘smart’ stethoscope. It is an artificial intelligence-enabled stethoscope system that can amplify, filter, record, and analyze heart and lung sound
In July 2020, HD Medical received FDA clearance for its HD Steth that uses artificial intelligence to aid clinicians to perform an advanced cardiac assessment at point-of-care., and In October 2020, 3M and Eko collaborated to combine 3M’s Littmann stethoscope with Eko’s digital innovations.
What Can be Explored with the Smart Stethoscope Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Smart Stethoscope Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Smart Stethoscope
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Smart Stethoscope market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Smart Stethoscope market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes New Entrants/Investors, Analysts and Strategic Business Planners, Smart Stethoscope Manufacture, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations, End-User Industry and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.
Frequently Asked Questions (FAQ):1. What is the growth rate predicted for the Global Smart Stethoscope Market?
The Smart Stethoscope market is expected to see a CAGR of % during projected year 2020 to 2026.
2. Who are the top performing companies in Smart Stethoscope Market?
Top performing companies in the Global Smart Stethoscope market are 3M (United States), Thinklabs (United States), HD Medical, Inc. (United States), Eko Devices, Inc. (United States), eKuore (Spain), M3DICINE Pty Ltd. ( Australia), Sonavi Labs (United States) and Steth IO (United States), to name a few.
3. What trending factors would impact Smart Stethoscope Market growth most?
"Technological Advancements in Stethoscope" is seen as one of major influencing trends for Smart Stethoscope Market during projected period 2020-2026.