Cardiopulmonary Stress Testing Systems Market is Poised to Expand Positively at a CAGR of 4.8% by 2025

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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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

Key Drivers

  • 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.

Key Restraints

  • 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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Competitive Landscape

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:

By Product

  • Cardiopulmonary Exercise Testing (CPET) Systems
  • Stress ECG
  • Pulse Oximeters
  • Stress Blood Pressure Monitors
  • Single-photon Emission Computed Tomography (SPECT)

By End-user

  • Hospitals
  • Specialty Clinics/Cardiology Clinics
  • Ambulatory Surgical Centers
  • Diagnostic Centers

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

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Cardiopulmonary Stress Testing Systems Market to Clock a CAGR of 4.6% from 2017 to 2025

Regarding the vendor landscape, the global cardiopulmonary stress testing systems market boasts the presence of large companies such as Koninklijke Philips N.V., Hill-rom Holdings Inc., General Electric Company, MGC Diagnostics Corporation, OSI Systems Inc., Masimo, NIHON KOHDEN CORPORATION, COSMED, Halma plc, Schiller AG, and Vyaire Medical Inc. among others. This renders a high degree of competition amongst these companies. In this scenario, players have been heavily relying on developing technologically advanced devices to stay strong in this market. The emergence of emerging market players at an exponential rate to develop ancillary devices needed for cardiopulmonary stress testing is a notable trend observed in this market.

Further, key players in the cardiopulmonary stress testing systems market are considering collaborations and licensing agreements to penetrate relatively untapped markets that have low entry barriers along with high growth potential. As a result, these players are expected to get more and more involved into mergers and acquisitions and strategic partnerships with regional players over the forthcoming years.

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Considering the development of diverse technological products for cardiopulmonary stress testing and various other factors, a report by Transparency Market Research (TMR) states the global cardiopulmonary stress testing systems market stood at US$2.08 bn in 2016. Expanding at a CAGR of 4.6% for the forecast period between 2017 and 2025, the market is expected to be valued at US$3.08 bn by the end of 2025.

Among the various product types, the segment of cardiopulmonary exercise testing system is anticipated to lead the global cardiopulmonary stress testing systems market over the forecast period. By end-user, hospitals segment is likely to dominate the market in terms of value over the forecast period of 2017-2025. Geography-wise, North America is anticipated to continue its dominance in the global cardiopulmonary stress testing systems market vis-à-vis revenue over the forecast period.

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Increasing Adoption of Stress Testing Procedures to Assess Heart Functioning a Boon for Market

The global cardiopulmonary stress testing systems market is driven by several crucial factors. Diagnosis of proper functioning of the heart remains the first line of treatment that helps physicians to assess the health status of patients who are at risk of cardiovascular diseases. A stress test helps physicians to evaluate the heart functioning based on several parameters such as blood pressure, heart rhythm, breathing, etc. and is performed typically on treadmill or cycle.

For instance, stress echocardiography involves capturing ultrasound images of heart when the heart reaches peak level, which gives insights about the supply of blood and oxygen from the heart while performing an exercise. Alternately, an imaging test is conducted if the patient is unable to walk on the treadmill or cycle or if the exercise stress test does not give satisfactory results to diagnose the cause of heart problem.

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Continual Development of Technologically Advanced Products with Add-on Features Boosts Growth

Apart from this, the consistent development of technologically advanced cardiopulmonary stress testing systems is also a significant factor acting in favor of the growth of cardiopulmonary stress testing systems market. This is mainly because stress testing procedures are increasingly being adopted for early diagnosis of heart diseases so as to minimize the risk of emergency situations that may prove to be fatal.

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