Persistence Market Research
The primary factor driving the growth of Phonocardiograph Instrument market are rising incidences of cardiovascular diseases throughout the globe. Moreover the rising healthcare expenditure and hospital infrastructure is fueling the growth of the phonocardiograph instruments market. Additionally, the launch of innovative handheld phonocardiograph instruments by leading manufacturer for easy analysis of phonocardiogram is also boosting the growth of phonocardiograph instruments market. The geriatric population require regular body check-up which also include the phonocardiogram, hence rising geriatric population is expected to propel the growth of phonocardiograph instruments market. On other hand, the high cost of phonocardiograph instruments and unfavorable reimbursement scenario is expected to deter the growth of phonocardiograph instrument market. Also the lack of medical professional in under developing economies may lead to sluggish growth of phonocardiograph instruments market over the forecast period.
The global Phonocardiograph Instrument market is classified on the basis of application, end user and region.
Based on product type, Phonocardiograph Instrument market is segmented into following:
Handheld Phonocardiograph Instrument Table Mounted Phonocardiograph Instrument
Based on end user, Phonocardiograph Instrument market is segmented into following:
Hospitals Ambulatory Surgical Centers Long-term Care Centers Academic and Research Institutes Home Care Settings
The global Phonocardiograph Instrument market is expected to show significant growth over the forecast period due rising geriatric population throughout the globe. The phonocardiograph instrument were invented soon after the electrocardiograph instruments, but the growth of this two instrument in the market is unequal. According to recent surveys, phonocardiograph instruments are used more than electrocardiography instruments for clinical cardiology. By product type, table mounted phonocardiograph instruments is expected to gain the maximum market share in term of revenue while hand held phonocardiograph instruments is expected to gain maximum market share in term of volume. Handheld phonocardiograph instruments segment is also expected to grow at faster rate rather than electrocardiograph instruments. Among all end user, the hospital segment is expected to dominate the phonocardiograph instruments market in term of value which is then followed by ambulatory surgical centers.
On the basis of geography, Phonocardiograph Instrument market is classified 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 phonocardiograph instrument market due rise number of cardiovascular diseases. After North America phonocardiograph instrument market is then followed by Europe due to high healthcare infrastructure in this region. APEC and China is expected to show the faster growth for global Phonocardiograph Instrument market owing to rising number of academic and research institutes in this region. Latin America and Middle East and Africa is the least lucrative region for Phonocardiograph Instrument market due to lack of healthcare infrastructure and limited number of medical professionals.
Some of the key players found across the value chain of Phonocardiograph Instrument are eKuore, Scientech Technologies Pvt. Ltd., Skrip Electronics, Electronic Engineering Corporation, HD Medical Group, Tesca Technologies Private Limited, Steth IO, and others.
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Regional analysis for Market includes