Europe Electronic Stethoscope Market - 2023-2030

Europe Electronic Stethoscope Market - 2023-2030

Market Overview

The Europe electronic stethoscope market size was valued at US$ XX million in 2022 and is estimated to reach US$ XX million by 2030, growing at a CAGR of XX% during the forecast period (2023-2030).

An electronic stethoscope overcomes the low sound levels by electrically amplifying bodily noises. The acoustic sound waves gathered through the chest piece are converted by electronic stethoscopes into electrical signals that can be amplified for enhanced hearing. The electrical signals that have been transformed can also be digitalized for transmission and additional processing. Although there is no advantage for breathing sounds, it has been demonstrated that the electronic stethoscope is thought to be better for hearting HSs when compared to the conventional stethoscope.

Market Dynamics

The major factors driving the Europe electronic stethoscope market are the growing elderly population, the high frequency of respiratory and cardiovascular disorders; the main forces behind the market's expansion are technological developments for complex medical equipment and increasing teleconsultation requirements.

The growing elderly population, the high frequency of respiratory and cardiovascular disorders are expected to drive the market’s growth.

The aging population, various cutting-edge features like sound amplification, audio recording, and the elimination of distracting sounds for better diagnosis, rising levels of disposable income, technological advancements in digital stethoscopes like Bluetooth wireless models, the prevalence of cardiovascular diseases, and improved diagnosis as a result of the advantages of digital stethoscopes.

According to Statista's estimates for 2021, Europe has the highest percentage of geriatric populations (19%), followed by North America (17%), Oceania (13%), Asia (9%), and South America (9%). In Africa, average life expectancy is one of the lowest, only 4% of the population is above 65. With 17.78 million elderly citizens, Germany has made the largest contribution to the continent's elderly population, followed by Italy with 13.76 million, France with 13.16 million, and the UK with 12.24 million. This could then result in an additional strain being placed on those still in the labor force to pay for the social expenditures made necessary by the aging population for various associated services.

High cost of equipment will expected to hamper the market’s growth.

However, an electronic stethoscope can amplify sound up to 18 times more than a conventional stethoscope. An electronic stethoscope can convert an acoustic sound into electronic impulses, which can be amplified for crystal-clear hearing. Before being sent via the Internet to a laptop or personal computer, electronic signals can be further processed and converted to digital form. Due to the features and high caliber of design, the cost was high. The cost of an electronic stethoscope is between $200 and $300, whereas the cost of a standard stethoscope is between $50 and $200. Compared to a conventional stethoscope, an electronic version is significantly more expensive. The market growth is anticipated to be hindered by the device's high price and interactions with other electronic equipment.

COVID-19 Impact Analysis

The demand for contemporary digital stethoscopes has significantly expanded due to the COVID-19 epidemic in 2020. During the epidemic, digital stethoscopes' novelty and allure substantially grew. Several healthcare facilities have incorporated and begun employing wearable technology, telemedicine, and telehealth platforms as part of current standards of care to lower the danger of cross-contamination.

For instance, in April 2020, After successful trials, StethoMe will now combine its smart AI wireless stethoscope with MaQuestionMedicale and Homedoctor's telemedicine platforms that connect patients with doctors and healthcare professionals. With these agreements in place, patients will soon be able to use StethoMe in France and Spain. StethoMe is also in talks with other significant European telemedicine providers and will expand its business to accommodate new agreements.

The first step in determining whether the lungs have COVID-19 infection is often lung auscultation. As a result, end users, including doctors, hospitals, and home healthcare providers, are in greater demand for stethoscopes. Sales of stethoscopes have suddenly risen. They were providing market participants with a variety of options as a consequence.

Segment Analysis

The wireless transmission system segment is expected to grow at the fastest CAGR during the forecast period (2023-2030)

The wireless transmission system market share for ultrasound devices is anticipated to be high. The development of wireless stethoscopes has been made possible by the advancement of Bluetooth technology. Order to listen to patients without making physical touch aids medical professionals. The wireless electronic stethoscopes help doctors evaluate patients without physical contact, thereby defending them against many infectious infections.

Wireless electronic stethoscopes enable healthcare professionals to evaluate and distribute auscultations instantly worldwide due to the recent rise in demand for teleconsultation services. These reasons suggest that the market for Electronic Stethoscopes based on Wireless Transmission Systems will expand significantly during the coming years.

It is also anticipated that the number of product launches will rise during the projected period. For instance, the 3M Littmann CORE digital stethoscope was introduced by 3M Littmann stethoscopes and Eko in the U.K and Ireland in June 2021. The global introduction of such technologically advanced products accelerates the market segment's expansion.

Geographical Analysis

U.K holds the largest market share in the Europe Electronic Stethoscope market.

U.K dominates the Europe Electronic Stethoscope market primarily due to its large population, excellent medical infrastructure, and high-income levels. Regulatory bodies and medical practitioners are implementing cutting-edge healthcare items and equipment to improve medical results. The demand for improved electronic stethoscopes has increased in the UK due to the rising prevalence of cardiovascular disorders. As a result of its affordability, healthcare institutions are adding amplifying electronic stethoscopes to their medical equipment inventory. There is a growing need for better treatments and early disease identification due to the rise in chronic disorders.

In response, the British government is improving the country's healthcare system, driving sales of electronic stethoscopes. For example, according to the British Heart Foundation, heart and circulation disorders account for 25% of all fatalities in the UK, or more than 160,000 each year, or 460 per day, or one every 3 minutes. Around 7.6 million people in the UK—4 million men and 3.6 million women—live with a heart or circulatory condition. Up to 100,000 hospital admissions in the UK are related to heart attacks yearly or every five minutes. In the UK, about 1.4 million people still alive had survived a heart attack. In the UK, patients with heart failure number over 900,000.

Competitive Landscape

The Electronic Stethoscope market is moderately competitive with local and Europe companies’ presence.eKuore, Cardionics, Hill-Rom Services, 3M, Medline Industries Inc, Rudolf Riester GmbH (HalmaPlc), PAUL HARTMANN AG, Heine Optotechnik GmbH & Co. KG., STETHOME SP. Z O and Stethoscope.eu. The key players are adopting various growth strategies such as product launches, mergers & acquisitions, partnerships, and collaborations, contributing to the market’s growth. For instance, in June2021, Digital technology is being developed to keep up with the growing demands of the healthcare business as the field and its reliance on auscultation continue to develop. The best-in-class 3M Littmann stethoscope technology and cutting-edge Eko digital innovations were combined in a collaboration between the companies to address these evolving needs.

eKuore.

Overview:Designing and developing in mobile health and telemedicine is eKuore Medical Devices. The 2012-founded firm created the first electronic stethoscope for human health, the eKuore Pro, as well as the eKuore Vet for animal health. Future plans for eKuore include continuing to innovate in the field of mobile health and telemedicine. Presently, eKuore and BoehringerIngelheim Pharmaceuticals are working together on several initiatives to research early detection systems for Idiopathic Pulmonary Fibrosis (IPF) and heart murmurs at Hospital La Fe.

Product Portfolio:

eKuore Pro electronic stethoscope: Designed to make precise diagnostics while keeping healthcare professionals safe. Apply different listening filters directly on digital stethoscope with a simple click. Long battery life.

Europe Electronic Stethoscope market report would provide access to approx.: 45+market data table, 40+figures and 200 (approximate) pages.