Stress Testing Services Market: Overview
- A stress test, also called an exercise stress test, usually involves physical exercise such as walking on a treadmill or riding a stationary bicycle or given a drug that mimics the effects of exercise, to show how the heart works during a physical activity. Since exercise makes our heart pump harder and faster, an exercise stress test can reveal problems with blood flow within the heart which is connected to several heart problems such as ischemic heart disease, heart valve disease, or heart failure.
- The global stress testing services market is anticipated to expand at a significant pace during the forecast period, owing to rise in awareness about the effects of various heart problems
Key Drivers of Global Stress Testing Services Market
- According to the American Heart Association, cardiovascular disease is one of the most common reasons for mortality, accounting for approximately 17 million deaths (30% deaths) every year, a number that is expected to increase to over 23.6 million by 2030. The most common reasons for cardiovascular diseases are unhealthy diet, physical inactivity, cholesterol, tobacco use, and alcohol. Rise in cases of cardiovascular diseases boosts the demand for performing stress test in order to diagnose a heart problem before it becomes severe. This is expected to drive the global stress testing services market during the forecast period.
- Advantages of stress testing such as noninvasive imaging test, ready availability, and relatively low cost capital, increase its preference among physicians and this is expected to drive the stress testing services market
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Less Efficacy to Restrain Market
- According to The U.S. Preventive Services Task Force, an independent, volunteer panel of national experts in disease prevention and evidence-based medicine and American College of Cardiology, stress test does not accurately diagnose all cases of coronary artery disease (CAD). Moreover, the same organization urges physicians not to routinely offer exercise stress testing to people without symptoms or strong risk factors for CAD. This can hamper the growth of the stress testing services market.
North America to Hold Major Share of Global Stress Test Services Market
- The stress testing services market in North America is estimated to hold major market share during the forecast period. This can be attributed to increase in geriatric population, high prevalence of coronary artery diseases, and availability of modern health care systems that provide different types of stress tests in the region. This is expected to drive the stress testing services market in the North America. According to CDC data, around 610,000 people die of heart disease in the U.S. alone every year.
- Europe is likely to grow at a faster rate due to increase in number of heart patients. According to the European Cardiovascular Disease Statistics 2017, in 2015, 11.3 million new cases of CVD were reported in Europe and 6.1 million new cases of CVD in the EU. Dietary factors make the largest contribution to the risk of CVD mortality. Fat consumption and energy consumption in Europe has increased and this has led to several cardiovascular diseases and as a result, the demand for early diagnosis of cardiovascular rising which is expected to boost the stress testing services market.
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Key Players Operating in Global Stress Testing Services Market
Major players operating in the global Stress Testing Services market are:
- Stanford Health Care
- Providence Health & Services
- Winchester Hospital
- Northern Regional Hospital
- The University of Texas Southwestern Medical Center
- Cleveland Clinic
- Integra LifeSciences Corporation
- Mayo Foundation for Medical Education and Research (MFMER)
- New York Cardiac Diagnostic Centers
Global Stress Testing Services Market: Research Scope
Global Stress Testing Services Market, by Test Type
- Stress ECG Test
- Cycle Ergometry
- Arm Ergometry
- Pharmacological Test
Global Stress Testing Services Market, by Test Providers
- Hospitals & Diagnostic Laboratories
- Outpatient Centers
Global Stress Testing Services Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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