Number of pages: 100 | Report Format: PDF | Published date: 13 February, 2023
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
Report Attribute |
Details |
Market size value in 2021 |
US$ 5.52 billion |
Revenue forecast in 2030 |
US$ 8.49 billion |
Growth Rate |
CAGR of 4.9% from 2022 to 2030 |
Base year for estimation |
2021 |
Forecast period |
2022-2030 |
Historical Year |
2020 |
Segments covered |
Product Type, End User, and Region |
Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
The global cardiopulmonary stress testing devices market was valued at US$ 5.52 billion in 2021. The market is expected to witness a CAGR of 4.9% during the forecast period from 2022 to 2030.
Market Fundamentals
Cardiopulmonary stress testing devices are equipments used to evaluate the function of the heart and lungs during physical activity. These tests are used to diagnose and evaluate cardiovascular and pulmonary conditions of the heart, lung, and exercise-induced asthma. The test typically includes monitoring a person's heart rate, blood pressure, and breathing during exercise, typically on a treadmill or a stationary bike. The results of the test can indicate how well the heart and lungs respond to increased physical activity and can be used to determine a person's fitness level and identify any potential problems that need further evaluation or treatment.
The global cardiopulmonary stress testing devices market is expected to grow during the forecast period. This growth is driven by factors such as the aging population, increasing prevalence of chronic diseases like diabetes and a growing focus on preventative healthcare. According to American Heart Association, ischemic heart disease (IHD) affected around 244.1 million people worldwide in 2020. Males were more likely than females to have Ischemic heart disease, 141.0 and 103.1 million, respectively. Cardiopulmonary stress testing devices are preferred over invasive alternatives, such as catheterization, due to their ease of use and low risk of complications. The increase of healthcare expenditure and growing importance of preventative healthcare is also expected to drive the global cardiopulmonary stress testing devices growth. In addition, the growing number of clinical trials and research studies being conducted in the field of cardiopulmonary stress testing is also expected to contribute to the growth of the cardiopulmonary stress testing devices market. The demand for these devices is highest in the developed countries, due to the high prevalence of cardiovascular diseases and the availability of advanced diagnostic and treatment options. The high growth rate is expected in the emerging markets, due to the large population base, rising income levels, and increasing awareness about the benefits of early diagnosis and treatment of heart diseases. The key challenges in the cardiopulmonary stress testing devices market are the high cost of devices, the need for skilled professionals, and limited reimbursement.
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Market Dynamics
According to the American Heart Association, around 19.1 million deaths were caused due to cardiovascular diseases in 2020 globally it the leading cause of death worldwide. The growing geriatric population is increasing the patients number and the rising demand for early diagnosis of cardiovascular disease is boosting the demand cardiopulmonary stress testing devices. The availability of advanced diagnostic and treatment with newer and more advanced devices with improved accuracy and ease of use are being developed which is propelling the growth of the cardiopulmonary stress testing devices market. Government agencies around the world are launching programs to increase public access to healthcare and raise public knowledge of health issues, which is helping the global cardiopulmonary stress testing devices market expand. Moreover, the soaring demand for point-of-care testing and non-invasive stress testing devices is expanding the growth of the cardiopulmonary stress testing devices market. Additionally, the growing sedentary lifestyle, increased consumption of Alcohol & tobacco, and increasing diabetes patients pool are fueling the growth of the global cardiopulmonary stress testing devices market. However, the high cost of the cardiopulmonary stress testing devices is the major restring factor of the cardiopulmonary stress testing devices market. The lack of killed healthcare professionals and limited reimbursement are also hindering the growth of the cardiopulmonary stress testing devices market.
Market Ecosystem
The global cardiopulmonary stress testing devices market has been analyzed from three perspectives: Product Type, End User, and Region
Cardiopulmonary Stress Testing Devices Market by Product Type
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Based on product type, the global cardiopulmonary stress testing devices market is segmented into cardiopulmonary exercise testing (CPET) systems, stress ECG, stress blood pressure monitors, pulse oximeters, and single-photon emission computed tomography (SPECT). The cardiopulmonary exercise testing (CPET) systems dominated the cardiopulmonary stress testing devices market in 2021. CPET systems are non-invasive which eliminates the risks associated with invasive testing methods. CPET systems provide a comprehensive evaluation of patients cardiovascular and pulmonary function by measuring multiple parameters, such as heart rate, blood pressure, and oxygen uptake thus increasing the demand CPET systems for the diagnosis of cardiovascular diseases. CPET systems allow for high-intensity testing, which simulates real-life activity and provides a more accurate assessment of a patient’s cardiovascular and pulmonary function. Moreover, CPET systems can be used to stratify risk in patients with heart failure, and chronic obstructive pulmonary disease.
Cardiopulmonary Stress Testing Devices Market by End User
Based on end-user, the global cardiopulmonary stress testing devices market is divided in hospitals, specialty clinics, diagnostic centers, and others. The hospitals segments had the largest market share in 2021. For the diagnosis and management of cardiovascular and pulmonary diseases hospitals are the primary healthcare providers. As a result, there is a high demand for cardiopulmonary stress testing devices in hospitals which is boosting the segmental growth. Hospitals have a large number of skilled healthcare professionals, such as cardiologists, pulmonologists, and other specialists, who are trained to use cardiopulmonary stress testing devices and interpret the results. This allows hospitals to provide accurate and reliable diagnostic and therapeutic services to patients. Moreover, Hospitals have advanced medical facilities that are equipped with the latest diagnostic and therapeutic technologies, including cardiopulmonary stress testing devices thus propelling the segment growth.
Cardiopulmonary Stress Testing Devices Market by Region
Based on region, the global cardiopulmonary stress testing devices market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America dominated the global cardiopulmonary stress testing devices market in 2021, followed by Europe and Asia Pacific. The large share of North America is attributed to the rising prevalence of cardiovascular disease in the region. According to the Centers for Disease Control and Prevention (CDC), in 2020 around 697,000 people died due to cardiovascular diseases in U.S. The growing geriatric population in the region is increasing the incidence of cardiovascular disease, leading to a higher demand for cardiopulmonary stress testing devices. The government bodies in the region are providing fund for the R&D of devices for the cardiovascular disease diagnoses and the rising demand for early diagnosis of heart related diseases is boosting the regional growth. Additionally, the presences of major companies in the region is also anticipated to fuel regional growth.
Competitive Landscape
Some of the prominent players operating in the cardiopulmonary stress testing devices market are:
Strategic Developments
The prominent players operating in the global cardiopulmonary stress testing devices market are GE Healthcare; Koninklijke Philips N V; Nihon Kohden Corporation; Thermo Fisher Scientific, Inc.; CareFusion Corporation (Becton, Dickinson and Company); CAIRE Inc.; Cardinal Health, Inc.; Hill-Rom Holdings Inc.; OSI Systems Inc; Schiller AG; COSMED Srl; and Welch Allyn, Inc.
The increasing incidence of cardiovascular diseases, rising awareness about early diagnosis and treatment of heart diseases, and the increasing demand for technologically advanced cardiopulmonary stress testing devices are some of the driving factors of the global market
The Cardiopulmonary exercise testing (CPET) systems segment holds the largest market share of the cardiopulmonary stress testing devices market
The expensive cost of the equipment, the requirement for qualified operators, and the meagre reimbursement are some of the obstacles for the market for cardiopulmonary stress testing devices
The global cardiopulmonary stress testing devices market size is estimated at US$ 8.49 billion in 2030
*Insights on financial performance are subject to the availability of information in the public domain
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