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Phase-Xs | Biologics & Biosimilars | Coherent Market Insights

Digital stethoscope converts acoustic sound into electronic signals, which can be further amplified for ideal listening. Electronic signals generated by the digital stethoscope can be digitalized and processed and transmitted to a laptop or a personal computer. The digital stethoscope is made up of three different modules namely, data acquisition, pre-processing, and signal processing. Piezoelectric sensor and microphone make up the data acquisition model, which focuses on buffering, amplification, and filtering of auscultated sounds and converts acoustic sound to digital signal. The function of the pre-processing module is to filter the digital signals to remove any artifacts. Signal processing module helps to bundle the data in high order classification and to gather the data for a diagnostic decision. Currently used digital stethoscopes allow users to choose from different frequency response modes, thereby aiding in effective assessment of sounds from lungs, heart, and other body parts. For instance, the 3M Littmann Stethoscopes Range consists of piezoelectric sensor, which helps to reduce ambient noise using adaptive noise canceller and allows amplification of sound up to 24 times. An advanced digital stethoscope also aids in streaming heartbeats on smart phones.

Digital Stethoscope Market Drivers:-

Increasing technological development in digital stethoscope such as electronic stethoscope with Bluetooth wireless capability is expected to be one of the major drivers aiding growth of the digital stethoscope market. Compared to manual stethoscopes, digital stethoscopes offer several advantages such as the ability to amplify sounds, as well as observe the received sounds on a visual display. Moreover, some digital stethoscopes can record and replay the captured video or audio, which further helps to retain patients’ medical data. Key players in the market are focused on launching new products to expand their product portfolio. For instance, in April 2018, Steth IO, a U.S.-based company, launched Steth IO, a smartphone-based digital stethoscope that can be used exclusively on iPhones (module 6 and above). The device can be used to listen and measure heart rates or lung sounds using an app on the phone and by placing it close to the patient’s chest. This device was approved by the U.S. Food and Drug Administration (FDA) in 2016 and does not require batteries as it draws power directly from the iPhone. This device can also help to maintain medical records of the patients, add flag clips, or notes within the recordings.

High prevalence of cardiovascular disorders, improved diagnosis due to advantages offered by digital stethoscope, and growing awareness among the populace regarding the adoption of digital stethoscope are some of the other factors that boost growth of the digital stethoscope market. For instance, according to a study conducted by the Centers for Disease Control and Prevention (CDC), in 2017, in the U.S., around 735,000 people were suffering from cardiovascular disorders.

However, high cost of the digital stethoscope as compared to conventional stethoscope is expected to hinder growth of the market.

Digital Stethoscope Market Regional Analysis:-

North America is expected to hold dominant position in global digital stethoscope market, owing to the availability of innovative products in the region. In 2009, the 3M Company, a U.S.-based company launched first electronic stethoscope with Bluetooth wireless capacity. 3M Littman Electronic Stethoscope model 3200 paired with new zargis medical software helps in detecting heart murmurs. Bluetooth technology of this device helps to transfer lungs, heart, and other sounds of the body directly to the software for further analysis. This device consists of 2 software i.e. Zargis Cardio scan software and Zargis Steth Assist Software. Zargis cardio scan software easily pairs with the device to help the doctor diagnose four main cardiac sites, after one minute the device provides report about the patient’s heart condition indicating all the problems observed. Europe is expected to witness significant growth over the forecast period, owing to launches of novel products in the region. For instance, in 2015, Ekuore a Spain-based company launched eKuore Pro Stethoscope, a wireless stethoscope. The company also has a product named eKuore stethoscope for hearing loss, which can be used by doctors who are have a problem in hearing or are deaf, as they have hearing aids connected to them.

Digital Stethoscope Market Key Players:-

Major players operating in digital stethoscope market include Eko Devices, FarmaSino Pharmaceuticals, Contec Medical Systems, Qufu Longer Care Meditech Limited, Exanovo Group, Think Labs Medical LLC, Sensi Cardiac, and 3M. Eko Devices has two digital stethoscope devices named as CORE and DUAL. CORE has 40x sound amplification, which can work with all stethoscopes and delivers loud and clear sound of heart and lungs. DUO is a combination of EKG and electronic stethoscope. It is a portable and hand held device, which provides review of the heart sounds and rhythms in an accompanying software.

Digital Stethoscope Market Taxonomy:-

The global digital stethoscope market is segmented on the basis on technology, end user, and region:

By Technology

  • Wireless Transmission System
  • Integrated Receiver Head Piece System
  • Integrated Chest Piece System
  • Numerical Stimulation and System Integration

By End User

  • Hospitals
  • Clinics
  • Ambulatory Surgery Centers
  • Others

By Region

  • North America
  • Europe
  • Latin America
  • Asia Pacific
  • Middle East
  • Africa

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users