Smart stethoscope system is used to track the heart beats, and conditions of ear, nose, throat, lungs, skin. Smart stethoscope systems are non-invasive and come at a relatively low cost. Smart stethoscope systems have an electronic configuration based on transducer, which converts sound or vibrations into electrical signals. Smart stethoscope systems have characteristics including small size, low cost, noise reduction, and capability to integrate with EKG electrodes.
They can be accessed through apps to keep a record of patient’s medical data; the app comes with HIPAA compliance, which can be used in hospitals and clinics. Smart stethoscope systems come with low frequency microphones, Bluetooth connectivity, and USB port that help to recharge the battery and transfer or download the data. Smart stethoscope systems provide digital graphs, numerical data with great sound effect in case of any abnormalities in patients.
The primary factors expected to drive the growth of the smart stethoscope systems are rising healthcare expenditure and increased spending by hospitals to improve the medical facilities. Moreover, increasing number of hospital admissions due to rise in number of chronic diseases is further expected to fuel the growth of the smart stethoscope systems market over the forecast period. Additionally, high number of geriatric population admitted to end user facilities is also responsible for the robust growth of smart stethoscope systems market.
Leading manufacturers are focusing on to manufacturer improved and specialized version of smart stethoscope systems, which is expected to contribute to the growth of the smart stethoscope systems market. On other hand, lack of funding by hospital management for procurement of secondary tools needed by the hospital professionals is expected to deter the growth of smart stethoscope systems market. Lack of awareness among general population regarding the specialized smart stethoscope systems provided by the key manufacturers is also a factor expected to hamper the growth of the smart stethoscope systems market over the forecast period.
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The global smart stethoscope systems market can be segmented based on product type, end users, and region.
Based on product type, the global smart stethoscope systems market is segmented into:
- Wireless Stethoscope
- Stethoscope with Wire
Based on end users, the global smart stethoscope systems market is segmented into:
- Hospitals
- Ambulatory Surgical Centers
- Specialty Clinics
The global smart stethoscope systems market is expected to witness significant growth over the forecast period owing to increasing adoption of smart stethoscope systems as well as improved healthcare facilities. Smart stethoscope systems are equipped with advanced technology, with elegant look and innovative design, which is expected to drive their demand in the global market. There are several distributers available in the market, who supply the smart stethoscope systems to the hospital in bulk.
For the specific type of smart stethoscope systems with the specific feature, hospital need to order that in advance before their requirement. By product type, the stethoscope with wire is expected to gain majority share of the global smart stethoscope systems market over the forecast period. Among all the end users, the hospitals segment is expected have maximum share by revenue, whereas specialty clinics is expected grow at faster rate over the forecast period.
On the basis of geography, the global smart stethoscope systems market is segmented into seven key region viz. North America, Latin America, Europe, Asia-Pacific excluding China, China, Middle East and Africa. North America is expected to dominate the global smart stethoscope systems market due increasing number of patient pool.
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North America smart stethoscope systems market will be followed by Europe and APEC. The increasing adoption of smart stethoscope systems is responsible for robust growth of the smart stethoscope systems market in these regions. APEC is expected to show remarkable growth owing to increasing geriatric population in India and Japan. MEA and Latin America are expected to be less lucrative markets for smart stethoscope systems due lack of awareness among the patients about the modified smart stethoscope systems.
Examples of some of the key players operating in the smart stethoscope systems market are eKuore, 3M Littmann, Thinklabs, CliniCloud, Welch Allyn, American Diagnostics, HD Medical, Medline Industries, Inc., Smiths Medical, and Dongjin Medical, among others.