The smart stethoscope market will grow from 2020 to 2026 with a CAGR of ~8.5%.  This device is a unique integration of AI and sound recording technology that is linked with an app or a software platform. Unlike the novel traditional stethoscope, this smart stethoscope also provides analytical data of the sound waves received and collected. Besides, such data is wirelessly transmitted via Bluetooth or Wi-Fi to a smartphone app or a computer with dedicated software. Moreover, if the devices collect any irregular heartbeat of sound waves, then it immediately alarms the app or the software system to inform the healthcare provider or the doctor for immediate medical attention. Such devices are free to be used anywhere, anytime and by anybody regardless of the technical knowledge, anyone possesses. These stethoscopes are tubeless or wireless and offer high portability for patients. The high adoption of such devices has reduced regular doctor visits. Impressive examples of such stethoscopes are HeartBuds, ThinkLabs One, StethoMe, and the recently launched (2019) Eko Digital Stethoscope.

The rising prevalence of heart-related diseases, asthma, acute to chronic bronchitis, CVDs, chest infections, will propel the market growth. For instance, as per the latest reports by WHO, ~65 million people suffer from COPD, and out of this lot, about 3-4 million people die every year due to lack of consultation and treatment. This scenario has gotten worse due to the global pandemic hit, which has given rise to low doctor visits. Moreover, along with the COPD prevalence, global concerns are also related to Asthma. As per the same reports, ~334 million people are living with this condition of which, 14% of the patients are below the age of 18. Hence it has become extremely important for one to consult using a stethoscope at home and transmit the data to the doctor, without wasting any time in OPD consultations. Besides the rising geriatric patient population who urge to have a stay home consultation will adopt such technology during the forecast period.

Smart stethoscope Market

Based on the understanding of this smart device, the market can be segmented into components, type, application, connectivity, and end-user. The component of this device consists of a portable sensor, various adaptors (specifically for ear, lung, back, and temperature), accessories, and related software (Further segmented to IOS and Android-based). The specific organ adaptors will be one of the fastest-growing product segments mainly due to its multifunctional capabilities. There are two major applications of such at home self-consultation device, namely single-use and dual-use stethoscope. Out of which the single-use stethoscope is the largest market shareholder and the fastest-growing application is the dual-use stethoscope.

Furthermore, the market is bifurcated into Asia-Pacific, NA, Europe, MEA, & CSA. North America will yield the highest revenue in this market. Awareness of advanced technology for self-monitoring is the major factor to fuel the growth of this region. Moreover, the Asia-Pacific region will be the fastest-growing regional segment. The increasing prevalence of heart and lung-related diseases along with rising cases of COVID-19 cases will help adopt the smart stethoscopes during 2020-2026.

The innovative companies that offer such point of care medical product are BESTPLUS Information Technology Hangzhou, China, ChildCare, HD Medical Group, StethoMe, EKO Devices Inc., STETHIO, TytoCare Ltd., WelchAllyn, HeartBuds, 3M, Hebei Yifang Medical Device Co. Ltd, M3DICINE Pty Ltd., MinttiHealth, Hulu Devices, eKuore, ThinkLab, and Cardionics, among others. (Other companies are Sedation Resource, Dongjin Medical, Cloud, Guangdong Hanhong Medical Technology Co., Ltd., American Diagnostics Corporation, CliniContec Medical Systems Co., Ltd., Nonin, Ayu Devices Pvt. Ltd., CDAC-Mohali and Freedom Scope). Product launch is one such strategy adopted by these companies to increase their product visibility in the market. For instance, In April 2020, Ayu Devices launched its product AyuSynk. AyuSynk is a smart stethoscope for remote monitoring of the heart-beat, sound, temperature, and other parameters that are easily done by a traditional stethoscope also. Also, in January 2018, Stethee was launched by M3dicine. This product is an artificial intelligence-based stethoscope specially-made for analyzing and recording the patient’s heart and lung sound preferably for a home consultation.

The pandemic hit has served well for the point of care medical device segment which will lead to the overall market in the coming future.

Check the report summary at Global Smart Stethoscope Market Size, Trends & Analysis - Forecasts to 2026