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Global Cardiopulmonary Stress Testing Systems Market to Reach US$6.6 bn by 2023

Press Release   •   Jan 06, 2017 13:24 IST

Transparency Market Research has published a new report on the global cardiopulmonary stress testing systems market. As per the report, the global cardiopulmonary stress testing systems market is expected to expand at an 8.20% CAGR from 2015 to 2023. The report, titled ‘Cardiopulmonary Stress Testing Systems Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023,’ states that the global market is expected to progress from US$3.3 bn in 2014 to US$6.6 bn by 2023 owing to rising obesity, the increasing occurrence of coronary artery disease, and the rising penetration of monitoring technology.

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The global cardiopulmonary stress testing systems market consists of devices that evaluate the exercise capacity of individuals to predict the outcome in people detected with heart failure. The primary aim of cardiac stress testing is to detect the risk stratification of CAD, which is a common cause of deaths across the globe. Over the past few years, a lot of importance has been given to the detection and monitoring of cardiopulmonary disorders. The global rise in the number of healthcare centers and hospitals is expected to propel the global cardiopulmonary stress testing systems market in the near future.

The implementation of legal provisions and the slow growth in SPECT MPI procedures are two of the major factors expected to hamper the growth of global cardiopulmonary stress testing systems market in the near future. The presence of an untapped market is expected to create new growth opportunities in the global cardiopulmonary stress testing systems market in the next few years. The global cardiopulmonary stress testing systems market is segmented on the basis of geography and product type.

By product type, the global cardiopulmonary stress testing systems market is classified into cardiopulmonary exercise testing (CPET) systems, pulse oximeters, single-photon emission computed tomography (SPECT), stress ECG, and stress blood pressure monitors. The CPET systems segment dominated the global cardiopulmonary stress testing systems market in 2014. The CPET segment is sub-segmented into stationary CPET systems and portable CPET systems. In 2014, the stationary CPET systems sub-segment dominated the global market for CPET devices, accounting for 75%. Stationary CPET systems are small, lightweight, and can be easily connected to various medical imaging systems.

Some of the leading companies operating in the global cardiopulmonary stress testing systems market are Philips Healthcare, CareFusion Corporation, COSMED, Nihon Kohden Corporation, SunTech Medical, Inc., GE Healthcare, Spacelabs Healthcare, MGC Diagnostic Corporation, Schiller AG, and Welch Allyn. Currently, companies such as Philips Healthcare, CareFusion Corporation, GE Healthcare, and Spacelabs Healthcare have acquired dominant positions as they operate across most market segments.

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By geography, the global cardiopulmonary stress testing systems market is divided into Europe, North America, the Middle East and Africa, and Latin America. The rapid growth in the aging population, the rise in the occurrence of cardiac diseases, and technical advancements are some of the factors responsible for the growth of the North America cardiopulmonary stress testing systems market.

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.