Global Report on Cardiopulmonary Stress Testing Systems Market - An Overview of Growth Factors

The global cardiopulmonary stress testing systems market will exhibit a notable CAGR of 8.20% during the forecast period from 2015 to 2023, says Transparency Market Research (TMR). In 2014, the global cardiopulmonary stress testing systems market was worth US$3.3 bn and by 2023, the market is projected to double in value and be worth US$6.6 bn. The dynamics of the global cardiopulmonary stress testing systems market are shaped by several drivers and restraints. Here are the top 5 trends that will impact the global cardiopulmonary stress testing systems market in the foreseeable future.

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5 Key Trends Shaping the Global Cardiopulmonary Stress Testing Systems Market

• Increasing Prevalence of Coronary Artery Disease: Coronary artery disease (CAD) is considered the most common type of heart disease and is a leading cause of death in the U.S. in both women and men. The prevalence of CAD is rising globally, which will drive the global cardiopulmonary stress testing systems market significantly in the coming few years. According to the WHO, around 17.5 mn people died from cardiovascular diseases in 2012, amounting to 31% of global deaths and out of these 7.4 mn were caused by coronary heart disease.

• Rising Obesity Rate: According to the CDC, over one-third of adults in the U.S. are obese. Heart disease is one of the major obesity-related conditions. The growing rate of obesity in the world is projected to drive the global cardiopulmonary stress testing systems market substantially in the coming few years.

• New Technologies: The global cardiopulmonary stress testing systems market will benefit from advancements in technology. The penetration of new monitoring technologies in the market is greatly improving the diagnosis rate.

• Implementation of Legal Provisions: Although the global cardiopulmonary stress testing systems market will expand significantly during the forecast period, it will be suppressed by the implementation of legal provisions such as the Affordable Care Act, promoting cost cutting strategies. The global cardiopulmonary stress testing systems market will also be restrained by the slow growth in the number of SPECT MPI procedures.

• Opportunities in Emerging Nations: Players in the global cardiopulmonary stress testing systems market will benefit from the huge growth potential on offer in emerging markets around the world. China and India are two of the most promising markets for cardiopulmonary stress testing systems. The cardiopulmonary stress testing systems market in the APAC region is projected to progress at the highest CAGR during the forecast period. In addition to this, Brazil and Mexico in the Latin America cardiopulmonary stress testing systems market will witness strong growth in the aforementioned forecast period.

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Some of the players operating in multiple avenues in the global cardiopulmonary stress testing systems market are CareFusion Corporation, Philips Healthcare, Spacelabs Healthcare, and GE Healthcare. Other notable players operating in the global cardiopulmonary stress testing systems market are COSMED, Nihon Kohden Corporation, MGC Diagnostic Corporation, SunTech Medical, and Schiller.

Future Trends in Cardiopulmonary Stress Testing Systems Market

A new Transparency Market Research report states that the global cardiopulmonary stress testing system market stood at US$3.3 bn in 2014 and is predicted to reach US$6.6 bn by 2023. It is expected to expand at a CAGR of 8.20% from 2015 to 2023. The title of the report is “Cardiopulmonary Stress Testing Systems Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023”.

Browse the full Cardiopulmonary Stress Testing Systems Market (Cardiopulmonary Exercise Testing Systems, Stress ECG, Pulse Oximeters, Stress Blood Pressure Monitors, and SPECT) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023 report at http://www.transparencymarketresearch.com/cardiopulmonary-stress-testing-systems.html

As per the report, the rising occurrence of coronary artery diseases such as myocardial infarction and angina pectoris will fuel the market for cardiopulmonary stress testing systems. The increasing aging population and increasing rate of obesity will further augment the market. In addition, the growth in the count of hospitals will also raise the demand for cardiopulmonary stress testing systems in the coming years. Furthermore, the rising number of new monitoring technologies has improved the rate and accuracy of diagnosis of cardiopulmonary diseases, thus boosting the overall market. On the other hand, factors including legal provisions such as the Affordable Care Act, which raises cost-cutting/containment strategies, and the sluggish growth in the count of SPECT MPI procedures may restrain the growth of the market in forthcoming years.

On the basis of product type, the market is segmented into cardiopulmonary exercise testing (CPET) systems, pulse oximeters, stress blood pressure monitors, stress ECG, and single-photon emission computed tomography (SPECT). Amongst these, cardiopulmonary exercise testing systems are further segmented into desktop CPET systems and portable CPET systems. The segment of CPET systems emerged as the largest segment of the global cardiopulmonary stress testing systems market. This is owing to the increasing occurrence of cardiac diseases, technical advancements, and the swift growth in the aging population. In addition, the rising disposable income of consumers, growing lifestyle disorders, and increasing incidence of coronary artery diseases are poised to augment the growth of the market in the forecast horizon.

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On the basis of geography, the market is segmented into Europe, North America, Latin America, the Middle East and North Africa, Rest of Europe, and Rest of the World (RoW). Amongst these, North America led the global cardiopulmonary stress testing systems market in 2014 on the basis of revenue, trailed by Europe. These two regions are poised to maintain their dominance all through the forecast horizon. The reason for the dominance of these regions is the presence of a number of cardiopulmonary patients and existence of a huge number of hospitals that have been rapidly adopting cutting-edge products. On the other hand, Asia Pacific is predicted to rise at the highest CAGR in the forecast horizon. In Asia Pacific, India and China are the leading markets presenting lucrative opportunities for manufacturers of cardiopulmonary stress testing systems

According to the report, the key players operating in the market include CareFusion Corporation, COSMED, GE Healthcare, MGC Diagnostics Corporation, Nihon Kohden Corporation, Philips Healthcare, Schiller AG, Spacelabs Healthcare, SunTech Medical, Inc., and Welch Allyn, Inc.