Cardiopulmonary stress testing systems: Key market research findings
- Emphasis on preventive diagnosis drives market growth
- CPET segment accounts for majority share of the market revenue
- Key vendors – BD, GE, Philips Healthcare, and Spacelabs
Technavio’s market research analysts predict the global cardiopulmonary stress testing systems market to grow at a CAGR of over 8% between 2016 and 2020. The growth in the market is driven by the increasing focus on preventive diagnosis. The rise in the number of deaths resulting from cardiopulmonary diseases is prompting organizations to take initiatives and spread awareness. Awareness of these diseases and educating the public and users can help in early diagnosis, reducing the chances of developing heart diseases. During 2015, the Americas dominated the global cardiopulmonary stress testing systems market with a market share of almost 45%. The rising incidence of chronic diseases, particularly heart disorders, among people of all age groups, is triggering an increase in the sales of cardiopulmonary stress testing systems in the region, and subsequently fueling growth in the cardiopulmonary stress testing systems market in the Americas.
The new market research report from Technavio presents a breakdown and analysis of the cardiopulmonary stress testing systems segments based on the product.
“The ongoing rise in the number of private cardiac specialty hospitals is the latest trend in the market. The growing importance of cardiac care is leading to the establishment of specialty cardiac hospitals in the private sector, resulting in an increase in the number of new cardiac surgery programs. This rise in the number of private cardiac hospitals will likely further lead to the demand for cardiopulmonary stress testing systems in the coming years,” says Barath Palada, Lead Analyst, Healthcare & Lifesciences, Technavio Research.
During 2015, the cardiopulmonary exercise testing (CPET) segment accounted for more than 41% of the overall market share to become the dominant shareholder in the global cardiopulmonary stress testing systems market. CPET, also known as CPX or CPEX, is a non-invasive and objective method that helps assess the exercise response of the pulmonary, cardiovascular, and skeletal muscle systems. CPET enables the evaluation of cardiopulmonary function and fitness of people by assessing the consolidative exercise responses involving the pulmonary, cardiovascular, and skeletal muscle systems.
BD, GE, Philips Healthcare, and Spacelabs are the primary vendors in the market. The global cardiopulmonary stress testing systems market is highly fragmented due to the presence of several well-established large and small vendors in the market. Some vendors such as GE Healthcare and BD offer a broad range of product manufacturing solutions. The major players are acquiring medium- and small-sized companies to expand their production capacity and use the expertise of local vendors to expand their portfolio. Intense competition and consolidation due to the presence of leading vendors that adopt various strategic initiatives make it difficult for new companies to enter the market.
A more detailed analysis is available in the Technavio report, Global Cardiopulmonary Stress Testing Systems Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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