Demand for Cardiopulmonary Stress Testing Devices to Grow by 4.8% CAGR Through 2025
Cardiopulmonary Exercise Testing (CPET) Systems to Account for More than Half of Cardiopulmonary Stress Testing Systems Sales by the end of 2025
The latest study on the cardiopulmonary stress testing devices market by Fact.MR provides insights into key drivers and opportunities affecting growth through 2031. It also examines scope for expansion across various segments in terms of product and end user. The report is intended at offering exclusive analysis of strategies adopted by top market players. It also gauges the impact of these strategies on the overall market.
Fact.MR – A Market Research and Competitive Intelligence Provider: As per the latest survey by Fact.MR, the global cardiopulmonary stress testing systems market is expected to register healthy growth, expanding at a CAGR of 4.8% over the forecast period from 2020 to 2025. The growth is attributed to the rapidly increasing prevalence of cardiovascular diseases such as cardiomyopathy, coronary artery disease, heart failures, and congenital heart diseases among others across the world.
According to a report by the World Health Organization (WHO), cardiovascular diseases are the leading cause of death, representing nearly 32% of the global mortalities. The report also stated that approximately 17.9 million deaths were reported in 2019 due to aforementioned diseases.
Thus, increasing demand for effective diagnostics and rising health concerns across North America and Europe is expected to create lucrative sales opportunities for the market.
The outbreak of the novel coronavirus also has facilitated the market growth. Surging demand for effective cardiovascular diagnostics systems for the treatment of critically ill COVID-19 patients, facing breathing difficulties and cardiovascular comorbidities accelerated the sales of cardiopulmonary stress testing devices. Driven by this, the market is anticipated to expand by 1.3X through 2031.
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In terms of product, the cardiopulmonary exercise testing (CPET) systems segment is estimated to contribute the highest sales in the global market. As CPET offers a complimentary and detailed assessment by providing more reliable and precise measurement of a patient’s cardiac functional capacity, the segment is expected to register rapid growth.
“Leading manufacturers are emphasizing on developing novel cardiopulmonary stress testing systems with more accurate and effective diagnostics capabilities to address the increasing demand on account of the rapidly increasing incidence of cardiovascular diseases,” says a Fact.MR analyst.
Key Takeaways from Cardiopulmonary Stress Testing Systems Market Study
- Driven by the rising cases of cardiovascular diseases in the U.S. and Canada and the subsequent demand for advanced healthcare, the North America market is expected to grow at 4.9% CAGR through 2025.
- The market for cardiopulmonary stress testing systems in the U.K. is forecast to expand at a rapid pace, favored by the increasing healthcare expenditure in the country.
- China is estimated to contribute the highest sales in Asia Pacific, driving growth in the regional market at a CAGR of 5.4% by through 2025.
- Due to the increasing prevalence of cardiovascular diseases and novel coronavirus in the country, the market in India is poised to register high growth over the assessment period.
- Based on products, stress electrocardiography (ECG) is anticipated to emerge as the second most lucrative segment, growing at a CAGR of 5% through 2025
- Rising prevalence of cardiovascular diseases and COVID-19 across Asia Pacific and North America is propelling the demand for cardiopulmonary stress testing systems.
- Increasing awareness about stress testing and expansion of healthcare infrastructure are expected to spur the sales of cardiopulmonary stress testing systems in developing countries.
- High cost of cardiopulmonary stress testing systems such as stress electrocardiography (ECG), CPET, and pulse oximeters is hampering the market growth.
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As per Fact.MR, the top five companies in the global cardiopulmonary stress testing services market are Schiller AG, GE Healthcare, Hill-Rom Holdings, Inc., Koninklijke Philips N.V and VYAIRE MEDICAL INC.
Key manufacturers are focusing on organic strategies such as novel product development and product approvals to continuously improve their product pipeline and technologies. For instance,
- Schiller AG, a leading manufacturer and supplier of cardiopulmonary diagnostics devices, announced introducing, the CARDIOVIT AT-200 EXCELLENCE ERGOSPIRO. The product is capable of performing both metabolic tests and pulmonary function tests (PFTs) with diagnostic 16-leade or quality-12 exercise ECG accurately in a single device.
- VYAIRE MEDICAL INC., manufacturers, the Vyntus and Vmax CPET CPX devices. The Vyntus devices is equipped with a flow sensory technology, digital volume transducer (DVT) which provides a reliable and accurate volume and flow measurement of cardiac functioning.
Some of the key players in the market profiled by Fact.MR are:
- Thermo Fisher Scientific Ltd.
- Care Medical Ltd.
- General Electric Company
- COSMED srl
- Cosmed Medical and Cardiac Science Corporation
- GE Healthcare
- Nihon Kohden Corporation
- Cardinal Health
- Schiller AG
- MGC Diagnostic Corporation
- GE Healthcare
- Hill-Rom Holdings, Inc.
- Koninklijke Philips N.V
- VYAIRE MEDICAL INC.
More Valuable Insights on Cardiopulmonary Stress Testing Systems Market
Fact.MR, in its new report, offers an unbiased analysis of the global cardiopulmonary stress testing systems market, analyzing forecast statistics through 2020 and beyond. The survey reveals growth projections on in cardiopulmonary stress testing systems market with detailed segmentation:
- Cardiopulmonary Exercise Testing (CPET) Systems
- Stress ECG
- Pulse Oximeters
- Stress Blood Pressure Monitors
- Single-photon Emission Computed Tomography (SPECT)
- Specialty Clinics/Cardiology Clinics
- Ambulatory Surgical Centers
- Diagnostic Centers
- North America
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Questions Covered in the Cardiopulmonary Stress Testing Systems Market Report
- The market survey also highlights projected sales growth of the cardiopulmonary stress testing systems market between 2020 and 2025
- The report offers insight into cardiopulmonary stress testing systems demand outlook for 2020-2025
- Cardiopulmonary stress testing systems market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others
- Cardiopulmonary stress testing systems market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
Explore Fact.MR’s Coverage on the Healthcare Domain –
Pulse Oximeters Market- Clinicians and home users are increasingly using wireless pulse oximeters, which is projected to drive the pulse oximeter market's growth. Wireless pulse oximeters' portability is driving up demand for wrist and finger-top pulse oximeters, particularly in home care settings. Another major element driving the pulse oximeter market's growth is the lower cost of wireless pulse oximeters compared to other hand-held and finger-top devices. Technological developments are resulting in the introduction of new and sophisticated products, providing the pulse oximeter market with tremendous potential opportunities.
Echocardiography Market- Non-invasive nature and improved patient outcomes resulted healthcare practitioners gravitating towards transthoracic echocardiography equipment, while mobile and portable technologies are expected to steal the show. The echocardiography market is being propelled forward by a growing pool of cardiac patients around the world, which can be ascribed to the prevalence of sedentary lifestyles and an increase in the geriatric population pool. Echocardiography businesses are teaming up with software companies to create AI apps that can calculate ejection fraction in seconds.
Cardiac Mapping System Market- Cardiac mapping systems are most commonly used for effective diagnosis of the wide range of arrhythmias. Precision and patient safety afforded by real-time monitoring and diagnosis time reduction features results the cardiac mapping systems market to develop at a considerable CAGR. The rise in the prevalence and rate of diagnosis of heart disorders is a primary factor driving demand for cardiac mapping devices. As people are becoming more aware of new technologies, cardiac mapping systems are becoming more popular.
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