"Cardiopulmonary stress testing systems market to exhibit dynamic growth during the forecast period"
The global cardiopulmonary stress testing systems market is growing efficiently, expected to grow at a CAGR of 4.8%. Globally, growing diagnostic procedures for cardiovascular-related disorders such as heart valve imbalance and arrhythmia will drive market growth. Increasing awareness about new lifestyle diseases along with heart and lung disorders are factors driving the overall growth of cardiopulmonary stress testing systems market globally. Other major factors include development in the portable device industry, invention of high sensitivity ECG devices, growth in the cardiovascular centers for enhanced diagnostics and new technology expansion in the emerging nations at low cost.
"Cardiopulmonary exercise testing systems segment expected to register higher growth by the end of 2029"
Advancement in cardiac diagnostic testing along with the development in the field of echocardiograph testing devices and exercise tolerance testing devices will enhance the overall demand. Cardiopulmonary exercise (CPX) testing devices will show promising growth on a global scale. Increasing trend for wireless devices is expanding significantly, has the capability to detect specific conditions related to heart or lungs along with smart features. For e.g. K5 wearable metabolic systems (COSMED), Orbit-K Blood Pressure Cuff, Oxycon mobile cardiopulmonary stress testing and others. The global manufacturers are focusing on new product launch and further R&D for commercialization of these testing systems to meet the active demand in the near future.
"Diagnostic and cardiology centers to witness a significant CAGR"
The higher average selling price of stress testing systems, increasing adoption of new products along with its services provided at cardiac centers and increasing preference for portable cardiopulmonary testing systems on a global scale are prominent factors expected for the growth of the market. Hospitals generated maximum revenue share in 2020, due to the large patient pool and increasing preference of hospital physicians as well as individuals for the early diagnosis of cardiovascular-related diseases. Higher demand in the developing nations, product expansion and awareness for enhanced outcomes will drive the market growth in the end-user segment globally.
"Increasing population, new FDA approval and the presence of top manufacturers hold North America in dominant position"
In 2020, the U.S. generated maximum revenue share in the cardiopulmonary stress testing systems market due to an increase in prevalence for lifestyle disorders, rising hospitals admissions and launch of new stress testing systems. Growing adoption of early cardiopulmonary diagnosis practices, increased patient pool in the U.S. and Canada, increasing adoption and penetration of advanced testing systems at public health centers/institutes which aid nurses and hospital physicians for patient health monitoring in real-time are major factors driving the growth in North America. To upsurge economical edge globally, top manufacturers have concentrated on the procedure of partnerships & collaborations, adoption of new techniques and launch of medical technology products. However, the higher expense of software-based arrangements, less popularity among the physicians, complexity in R&D, and constrained returns may hinder the market growth during the forecast period.
"Increased research and development with strong product pipelines in the developed regions"
Major players in the cardiopulmonary stress testing systems market are GE Healthcare, Thermo Fisher Scientific Ltd., Cardinal Health, Cosmed Medical, Spacelabs Healthcare, Koninklijke Philips N.V., NIHON KOHDEN CORPORATION, Vyaire Medical Inc., Hill-Rom Holdings Inc., Masimo, MGC Diagnostics Corporation, Schiller AG, MGC Diagnostics Corporation and others. Major top organizations and are emerging with smart technologies with integrated software systems. Partnerships acquisitions and improved R&D on medical equipment will improvise the development of cardiopulmonary stress testing systems market in the developing nations in the near future.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Cardiopulmonary Stress Testing Systems market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Product
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End User
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
