Mexico Stethoscope Market Size & Outlook, 2023-2030
Mexico stethoscope market, 2018-2030 (US$M)
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Mexico stethoscope market highlights
- The Mexico stethoscope market generated a revenue of USD 10.3 million in 2023 and is expected to reach USD 16.3 million by 2030.
- The Mexico market is expected to grow at a CAGR of 6.7% from 2024 to 2030.
- In terms of segment, traditional acoustic stethoscope was the largest revenue generating technology type in 2023.
- Smart Stethoscope is the most lucrative technology type segment registering the fastest growth during the forecast period.
Stethoscope market data book summary
| Market revenue in 2023 | USD 10.3 million |
| Market revenue in 2030 | USD 16.3 million |
| Growth rate | 6.7% (CAGR from 2023 to 2030) |
| Largest segment | Traditional acoustic stethoscope |
| Fastest growing segment | Smart Stethoscope |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Electronic/Digital Stethoscope, Smart Stethoscope, Traditional Acoustic Stethoscope |
| Key market players worldwide | 3M Co, Medline Industries, Welch Allyn, Eyekon Medical, Rudolf Riester, Halma PLC, Paul Hartmann, HEINE Optotechnik, Graham - Field Health Products, American Diagnostic Sciences, Cardionics, StethoMe |
Other key industry trends
- In terms of revenue, Mexico accounted for 1.6% of the global stethoscope market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Latin America, Brazil stethoscope market is projected to lead the regional market in terms of revenue in 2030.
- Brazil is the fastest growing regional market in Latin America and is projected to reach USD 24.6 million by 2030.
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Stethoscope Market Scope
Stethoscope Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Mexico stethoscope market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to stethoscope market will help companies and investors design strategic landscapes.
Traditional acoustic stethoscope was the largest segment with a revenue share of 76.7% in 2023. Horizon Databook has segmented the Mexico stethoscope market based on electronic/digital stethoscope, smart stethoscope, traditional acoustic stethoscope covering the revenue growth of each sub-segment from 2018 to 2030.
Decrease in healthcare expenditure by the government and lack of adequate healthcare facilities in the country are among major factors restraining the market growth. For instance, according to OECD Health Statistics 2019, the healthcare expenditure in Mexico accounted for 5.46% of its Gross Domestic Product in 2018.
whereas it accounted for 5.52% and 5.8% in 2017 & 2016, respectively. This figure has been decreasing since 2010. Such decrease in healthcare expenditure often restricts many new and key players to enter the Mexican market.
Moreover, lack of skilled professionals and less knowledge regarding treatment of chronic disorders are among factors expected to impede the market growth. A majority of patients prefer treatment outside the country due to shortage of hospitals and clinics in the country.
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Horizon Databook provides a detailed overview of country-level data and insights on the Mexico stethoscope market , including forecasts for subscribers. This country databook contains high-level insights into Mexico stethoscope market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Mexico stethoscope market size, by technology type, 2018-2030 (US$M)
Mexico Stethoscope Market Outlook Share, 2023 & 2030 (US$M)
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