The global stethoscopes market has been forecast to reach a value of $359.4 million by 2018, driven by the expanding healthcare needs in both developed as well as developing countries and technological advancements aimed at enhancing design and acoustics of the traditional stethoscope.
The global market for stethoscopes is expected to witness steady growth in the short-to-medium term period driven by a combination of favourable 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.
The stethoscope is an acoustic medical device for auscultation, or listening to the internal sounds of an animal or human body. It is often used to listen to lung and heart sounds. It is also used to listen to intestines and blood flow in arteries and veins.
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 analysing the heart's acoustical and electrical footprints in real time.
According to a recent market report, 'Stethoscopes: A Global Strategic Business Report,' 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.
For more information on the global stethoscopes market, see the latest research: Global Stethoscopes Market
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