In recent years, the incidence of cardiovascular diseases (CVDs) has registered an uptick, leading to 17.1 million deaths across the world. Low and middle income countries constitute the maximum percentage of deaths due to CVDs. This is primarily attributed to inadequate access to monitoring and diagnosis of CVDs. Further, the ongoing COVID-19 pandemic is spurring sales of cardiopulmonary stress testing systems among critically ill patients who have cardiovascular comorbidities and breathing difficulties. Recognizing this trend, governments have been increasingly taking measures to initiate awareness about accurate CVD assessment, in conjunction with global non-profit organizations.
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On the back of these trends, the global cardiopulmonary stress testing systems market is anticipated to burgeon, expanding 1.3x during the forecast period (2020-2025). The growth of the market is further leveraged by the presence of key manufacturers who are investing heavily in technological breakthroughs to provide quality care to CVD patients. This is supported by a growing geriatric population pool during the forecast period. Also, relaxation of government regulations on device usage in order to provide assistance to heart patients affected by the COVID-19 diseases is also anticipated to leverage market growth.
Key Takeaways of Global Cardiopulmonary Stress Testing Services Market Study:
- By product type, the cardiopulmonary exercise testing (CPET) system shall capture more than half of the total cardiopulmonary stress testing services market. This is attributed to its distinct advantage of providing a reliable measurement of a patient’s functional capacity. This enables practitioners to accurately determine the prognosis of heart diseases.
- Stress ECGs are anticipated to soar in popularity amid soaring infection rates of COVID-19 and given the increasing market penetration of key manufacturers such as Koninklijke Philips N.V, GE Healthcare and Schiller AG. These companies manufacture devices such as the DXL 16-Lead ECG Algorithm, the CASE Exercise Testing System and the CARDIOVIT AT-180 High-performance 16-channel ECG system. The segment shall capture nearly 1/5th of the global cardiopulmonary stress testing systems market, expanding 1.3x during the forecast period.
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- By end-user, the diagnostic test centers segment shall expand rapidly, owing to increasing number of medical procedures at outpatient settings in highly populated countries. Moreover, affordability of treatment and availability of post-procedure consultation are other growth drivers. The segment is anticipated to grow at a CAGR of 5.2% during the forecast period.
- By region, North America shall account for the lion’s share in the global cardiopulmonary stress testing systems market, capturing one-third of the overall market. With North America currently being the epicenter of COVID-19 crisis, sales are further set to soar. Increasing hospitalization rates and rising efficiency in accurate diagnostics of cardiovascular diseases are anticipated to leverage the market.
- Asia-Pacific shall emerge as the most lucrative region, attributable to deeper market penetration by key players and increased awareness about stress testing. A CAGR of 5.4% is predicted for the Asia-Pacific cardiopulmonary stress testing systems market. The anticipated market share is pegged at over one-fourth.
- Key manufacturers are anticipated to witness an upsurge in their production capabilities, owing to favorable government regulations to combat the COVID-19 pandemic. For instance, the US FDA has provided clearance to utilize extracorporeal membrane oxygenation (ECMO) and cardiopulmonary devices in increased capacity. It is anticipated that using ECMO reduces chances of complications among heart patients.
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“The global cardiopulmonary stress testing systems market shows an upward trajectory. Rising prevalence of CVDs and ongoing COVID-19 pandemic has prompted manufacturers to introduce more efficient cardiopulmonary stress testing systems through consistent innovations in their product pipeline,” concludes a Fact.MR analyst.
Global Cardiopulmonary Stress Testing Systems Market Structure:
The global cardiopulmonary stress testing services consists of the following top five market players: Schiller AG, GE Healthcare, Hill-Rom Holdings, Inc., Koninklijke Philips N.V and VYAIRE MEDICAL INC., are major market players.
Schiller AG is a pioneer in the global cardiopulmonary stress testing services market. The company has been continuously improving its product pipeline and technologies for patient assessment via stress tests. The company manufactures the CARDIOVIT AT-200 EXCELLENCE ERGOSPIRO which can perform both pulmonary function tests (PFTs) and metabolic tests with diagnostic quality-12 or 16-leade exercise ECG conveniently and accurately in a single device.
Likewise, VYAIRE MEDICAL INC., produces the Vmax and Vyntus CPX CPET devices. The latter device is equipped with a digital volume transducer (DVT) flow sensory technology which provides an accurate and reliable flow and volume measurement of cardiac functioning.
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The research study on the global cardiopulmonary stress testing systems market by Fact.MR incorporates an unbiased assessment of key factors and trends responsible for shaping the landscape of the global cardiopulmonary stress testing systems market over 2020-2025. It includes a detailed assessment of key parameters that are anticipated to exert influence during 2020-2025. Market statistics have been presented on the basis of product (Cardiopulmonary Exercise Testing (CPED) Systems, Stress ECG, Pulse Oximeters, Stress Blood Pressure Monitors and Single-photon Emission Computed Tomography (SPECT and end-users (Hospitals, Ambulatory Surgical Centers, Specialty Clinics/Cardiology Clinics and Diagnostic Centers) across five major regions.
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