The competitive landscape in the global cardiopulmonary stress testing systems market is likely to be intense owing to the presence of some leading players, states Transparency Market Research (TMR) in a research report. Some of the crème players present in the market are CareFusion Corporation, Philips Healthcare, GE Healthcare, and Spacelabs Healthcare. These companies held a share of around 53.5% in 2015 collectively in the global market for cardiopulmonary stress testing systems. A TMR analyst states that the vendors must be looking forward to investing in emerging regions as the nations might tend to have a comparatively higher healthcare budget over the years ahead. Moreover, vendors could also capitalize on the growing industry of medical tourism industry in the developing regions that are eager to invest on obtaining new systems and equipment.
According to a TMR analyst, “The global market for cardiopulmonary stress testing systems is anticipated to witness an 8.20% from 2015 to 2023 rising from a valuation of US$3.30 bn in 2014 to a valuation of US$6.67 bn by the end of 2023.” Based on product type, the global market for cardiopulmonary stress testing systems was led by CPET systems owing to the critical part this non-invasive plays for ascertaining skeletal, cardiovascular, hematopoietic, neuropsychological, and pulmonary muscle systems’ retort to exercise. Technological advancements are also likely to play a crucial role in the development of this segment. Regionally, North America is likely to witness a strong 7.3% CAGR over the forecast period and also rule the market meanwhile owing to the rising number cases of obesity in the region. The prevalence of leading players in North America is also likely to add up to the scenario.
Cardiac Disorder Cases to Fuel Growth
The high rate of cardiovascular sicknesses has been the essential factor driving the demand for cardiopulmonary stress testing systems. As per the World Health Organization (WHO), the coronary artery diseases (CADs) represent almost 64% of the every one of the deaths because of cardiovascular conditions. Hence, this has been recognized as the key reason for a low quality of life for the larger part of ladies and men over the world. Attributable to these reasons the interest for cardiopulmonary stress testing systems has extensively ascended in the previous couple of years.
The ascent in the geriatric populace over the world and the developing issue of weight have likewise brought about a sudden take-up of cardiopulmonary stress testing systems. The obese and the old are both inclined to the danger of coronary artery diseases (CADs), which has positively affected the worldwide market as of late. Innovative progressions, rising dispensable income, developing mindfulness about conceivable outcomes to treat cardiovascular infections, and infiltration of the modern technologies pertaining to monitoring have likewise brought about a higher conclusions rate, which has supported the demand for cardiopulmonary stress testing systems.
Hospitals to be Discouraged to Invest in Novel Equipment owing to High Cost
The order of laws, for instance, the Affordable Care Act has been encouraging the healthcare division for cost control to give reasonable healthcare services to patients. This pattern has been hampering the worldwide market to a serious degree. The diminishment in the budget of healthcare services has provoked private firms and large hospitals to put less in new hardware and systems to have the capacity to offer a moderate healthcare in the more drawn out run. Moreover, exposure to hurtful radiation because of single-photon discharge figured tomography myocardial perfusion imaging (SPECT-MPI) systems has additionally demoralized the offers of these frameworks in the current past.
The study presented here is based on a report by Transparency Market Research (TMR), titled, “Cardiopulmonary Stress Testing Systems Market (Product – Cardiopulmonary Exercise Testing Systems, Stress ECG, Stress Blood Pressure Monitors, and SPECT) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023.”
The global Cardiopulmonary Stress Testing Systems market is segmented as follows:
Global Cardiopulmonary Stress Testing Systems Market, by Product Type
- Cardiopulmonary Exercise Testing (CPET) Systems
- Portable CPET Systems
- Desktop CPET Systems
- Stress ECG
- Pulse Oximeters
- Stress Blood Pressure Monitors
Global Cardiopulmonary Stress Testing Systems Market, by Geography
- North America
- Rest of Europe
- Rest of Asia Pacific
- Latin America (LATAM)
- Rest of LATAM
- Middle East and North Africa
- Saudi Arabia
- Rest of MENA
- Rest of the World (RoW)
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