Cardiopulmonary Stress Testing Systems Market Pegged for Robust Expansion

Posted by Mayuri on January 12th, 2021

Transparency Market Research (TMR) has published a new report titled, ‘Cardiopulmonary Stress Testing Systems Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027’. According to the report, the global Cardiopulmonary Stress Testing Systems market was valued at US$ 4.5 Bn in 2018 and is projected to expand at a CAGR of 5.9 % from 2019 to 2027.

Overview

  • Cardiopulmonary stress testing is performed to evaluate exercise capacity and predict outcome in patients diagnosed with heart failure. It is a non-invasive and highly sensitive stress test that evaluates the response of cardiovascular, pulmonary, neurophysiological, hematopoietic, and skeletal muscle systems to exercise. CPST plays an important role in the detection of ischemic heart disease, heart failure, shortness of breath, asthma, and other pulmonary disorders.
  • The primary goal of cardiac stress testing is to identify the risk stratification of coronary artery disease (CAD), which is one of the most common causes of deaths globally. It is a progressive condition that leads to the obstruction of blood vessels in the arteries providing blood to the heart muscles.
  • North America dominated the global cardiopulmonary stress testing systems market in 2018 and the trend is anticipated to continue during the forecast period. Continued adoption of cardiac monitoring equipment, presence of leading manufacturers of cardiac systems and rising prevalence of coronary artery diseases are expected to drive the market in North America.
  • Asia Pacific is likely to be a highly lucrative market for cardiopulmonary stress testing systems and it is expected to expand at a high CAGR during the forecast period owing to increasing disposable income, rise in geriatric population, and rising number of patients diagnosed with cardiovascular diseases and increase in adoption of advanced diagnosis & monitoring devices.

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Rise in Geriatric Population to Drive Market

  • There has been an unprecedented growth in the global geriatric population. According to the World Health Organization (WHO), people above the age of 65 years form the fastest growing population segment globally. The percentage of the population above 60 years of age across the globe is projected to double from 11% to 22% between 2000 and 2050. It also stated that 80% of older people will be living in low- and middle-income countries in 2050.
  • Moreover, the global geriatric population would grow at the fastest rate in developed countries such as the U.S., the U.K., and Japan. Brazil, China, Thailand, and South Korea are expected to have a large geriatric population in a short span of time in the near future.
  • Therefore, increase in geriatric population thereby increases the risk of coronary artery disease as this group of individuals are prone to cardiac disorders due to high total serum cholesterol levels.
  • According to the article published by the National Center for Biotechnology Information) NCBI, Coronary artery disease accounts for 82% deaths in people aged 65 years and above. The prevalence rate of coronary heart disease in the U.S. is likely to increase by 26% between 2010 and 2040.

CPET Systems Segment to Dominate Market

  • Based on type, the global cardiopulmonary stress testing systems market has been divided into CPET systems, stress ECG, pulse oximeters, stress BP monitors and single-photon emission computed tomography (SPECT). The CEPT system segment has been bifurcated into stationary and portable. The CPET systems segment dominated the global cardiopulmonary stress testing systems market in 2018 and the trend is projected to continue during the forecast period. Rapid adoption of CPET among professional athletes and technological enhancement in testing equipment to accelerate the growth of the segment.

North America to Dominate Global Market

  • In terms of region, the global cardiopulmonary stress testing systems market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global cardiopulmonary stress testing systems market in 2018, followed by Europe.
  • North America accounted for major share of the global Cardiopulmonary Stress Testing Systems market in 2018. Availability of cardiac care facilities, increase in investment supporting medical treatment, and rising prevalence of cardiovascular diseases are expected to drive the growth of the market in the region. According to the Centers for Disease Control and Prevention (CDC), one in every four deaths in U.S. is due to heart disease. Coronary heart disease is the most common type of heart disease that accounts for nearly 370,000 deaths in the U.S. each year

Competitive Landscape

  • The global cardiopulmonary stress testing systems market is fragmented in terms of number of players. Key players in the global market include General Electric Company, Koninklijke Philips N.V., CareFusion Corporation (BD), Spacelabs Healthcare (OSI Systems, Inc.), COSMED srl, MGC Diagnostic Corporation, Nihon Kohden Corporation, Schiller AG, SunTech Medical, Inc. and Welch Allyn among others

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Mayuri

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Mayuri
Joined: October 20th, 2020
Articles Posted: 322

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