Cardiopulmonary Stress Testing Systems Market Expected to Grow At a CAGR of 4.8% During the Forecast Period

Cardiopulmonary Stress Testing Systems Market Expected to Grow At a CAGR of 4.8% During the Forecast Period

The latest market report published by Credence Research, Inc. “Cardiopulmonary Stress Testing Systems Market: Growth, Future Prospects, and Competitive Analysis, 2019 – 2027” the cardiopulmonary stress testing systems market was valued at US$ 2,256.8 Mn in 2018, expected to grow at a CAGR of 4.8% during the forecast period from 2019 to 2027.

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Market Insights 

The global cardiopulmonary stress testing systems market is growing effectively from 2019 to 2027 accredited to the rise in interest for early diagnosis of cardiopulmonary disorders along with enhanced technology expansion on a global scale. The cardiopulmonary test examines and detects ischemic heart disease, heart failures, shortness of breath and other pulmonary related disorders. The personalized health medical technology enterprises in the U.S. and Europe are gaining traction in the marketplace.

Increasing FDA approvals for new devices with enhanced features and adoption of high-cost systems in the emerging nations will drive the demand during the forecast period. For e.g. in May 2019, the U.S. FDA approved the world’s first available six-lead personal electrocardiogram device, KardiaMobile 6L (by AliveCor). This FDA clearance gives physicians or doctors more detailed interpretation into patients’ hearts, comprising visibility into positive arrhythmias.

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Topmost companies are focusing on new product development and FDA clearance, mainly in the portable and wireless segment. The growing number of partnerships and agreements with academic research centers and by key public health institutes internationally will drive the overall growth. The global market is also facing the beginning of emerging companies at an exponential growth rate (from Europe and the Asia Pacific) that are competing to develop high-value, economical ancillary devices for numerous stress testing systems. The leading position of North America is due to factors such as swift adoption of breakthrough medical technologies in the region, intensive R&D initiatives and significant pool of incontinence patients.

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Key Market Movements: 

  • Globally, the cardiopulmonary stress testing systems is growing at a CAGR of 4.8% for the period from 2019 to 2027
  • The Asia Pacific market will increase significantly due to its improved hospital infrastructure, huge patient pool and medical tourism
  • The prominent growth factors include increasing diagnostic procedures worldwide, FDA approval of new products, higher efficiency, increasing population, and growing awareness related to the wide usage of top applications in the cardiopulmonary stress testing industry
  • The increasing number of partnership agreements, availability of advanced cardiopulmonary stress testing systems internationally, and increased medical expenditure in the emerging nations will drive the market growth on a global scale
  • Major players in this vertical 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

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