PUBLISHER: DataM Intelligence | PRODUCT CODE: 1020345
PUBLISHER: DataM Intelligence | PRODUCT CODE: 1020345
Cardiopulmonary Stress Testing Systems Market Overview
The global cardiopulmonary stress testing systems market size was valued US$ XX billion in 2020 and is estimated to reach US$ XX billion by 2028, growing at a CAGR of XX % during the forecast period (2021-2028).
The Cardiopulmonary Stress test is an evaluation of the cardiopulmonary system measuring the integrated response of the pulmonary, cardiovascular, and muscular systems, which includes measurements of gas exchange, primarily oxygen uptake (i.e., VO2), carbon dioxide output (VCO2), minute ventilation, and anaerobic (lactic acid) threshold.
Cardiopulmonary Stress Testing Systems Market Dynamics
The increasing prevalence of Cardiovascular disease is expected to drive the growth of the market.
According to the American College of Cardiology, on Feb 19, 2019. Cardiovascular disease (CVD) remains the leading cause of death in the United States, responsible for 840,768 deaths (635,260 cardiac) in 2016. From 2006 to 2016, the US death rate from CVD decreased by 18.6% and from coronary heart estimated at $351.2 billion in 2014-2015, with $213.8 billion in direct cost, including 46% for inpatient care. Approximately every 40 seconds, an American will have a myocardial infarction. The average age of first myocardial infarction is 65.6 years old for men and 72.0 years old.
Additionally, in the United States in 2019, coronary events are expected to occur in about 1,055,000 individuals, including 720,000 new and 335,000 recurrent coronary events. Thus, due to increased cardiac diseases, increased demand for cardiopulmonary stress testing systems is expected to boost the forecast period.
Expensive testing procedures are expected to hamper the growth of the market.
According to the article( ABIM Foundation), in 2019, EKGs and stress tests are tests that can help your doctor see how well your heart is working. An EKG, or electrocardiogram, measures your heart's activity. In an exercise stress test, you have an EKG while you walk or jog on a treadmill. Moreover, treadmill tests are between 60 and 80 percent accurate, and they cost around $300. An EKG costs about $50, and an exercise stress test costs $175 or more. In addition, if they lead to more tests and treatments, it can cost thousands of dollars. Thus, due to expensive costs for the test, there is a decrease in the testing process in cardiac and pulmonary diseases patients, which is expected to hamper the market's growth.
COVID-19 Impact Analysis
COVID-19 has moderately impacted the coronary artery bypass graft market. It is the most common cardiac surgery performed worldwide and a life-saving procedure for severe cardiac disease and pulmonary patients. The pandemic resulted in a sharp decline in hospitalizations for arrhythmia, heart failures, ischemic heart disease, dyspnea and heart valve imbalance. Moreover, the pandemic is interrupting the medical supply chain, and many companies will vary to other geographic regions in the future to ensure that products remain available and protect their supply chain. Thus, the COVID-19 pandemic has affected the market. However, the situation is expected to improve gradually in the forecast period.
Cardiopulmonary Stress Testing Systems Market Segment Analysis
Exercise Testing Systems segment is expected to hold the largest market share in this market segment.
The exercise testing systems segment held the largest market share in 2020. The segment's growth is attributed to the accuracy and the least operating time taken by these devices, cost-effectiveness and multiple uses. For instance, according to the European Respiratory Surgery, in 2021. Cardiopulmonary exercise testing (CPET) has long been used as a diagnostic tool for cardiac diseases, lung diseases. During recent years, CPET has been proven to be useful for distinguishing between normal and abnormal responses to exercise and determining peak oxygen uptake and level of disability of heart and lungs.
Additionally, identifying factors contributing to dyspnoea and exercise limitation; differentiating between ventilatory (respiratory mechanics and pulmonary gas exchange), cardiovascular, metabolic and peripheral muscle causes of exercise intolerance.
Furthermore, due to the increasing geriatric population with decreased functional capacity, the pharmacological stress testing device establishes its foothold in the global cardiopulmonary stress testing systems market during the forecast period. Thus, from the above statements, the market is expected to hold the largest market share in the forecast period.
Cardiopulmonary Stress Testing Systems Market Geographical Analysis
North America region holds the largest market share in the global cardiopulmonary stress testing systems market.
North America dominated the market with a revenue share in 2020. The growth is attributed to the rising prevalence of cardiovascular and pulmonary disorders, including arrhythmia, heart failures, ischemic heart disease, dyspnea and heart valve imbalance in the United States, which lead to higher demand for the CPST. For instance, according to the National Institutes of Health, on July 23, 2020. Globally, Ischemic Heart Disease affects around 126 million individuals (1,655 per 100,000), approximately 1.72% of the world's population, and nine million deaths were caused by IHD globally. Moreover, increasing incidences of lifestyle diseases and enhanced awareness among the medical professionals about the advantages of CPST and the availability of advanced healthcare infrastructure in the region contribute to its outstanding share in global market revenue.
Cardiopulmonary Stress Testing Systems Market Competitive Landscape
The cardiopulmonary stress testing systems market is vast with presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include MGC Diagnostics Corporation, General Electric Company, Koninklijke Philips N V, Hill-Rom Holdings Inc, OSI Systems Inc, NIHON KOHDEN CORPORATION, COSMED, Halma plc, Schiller AG and Vyaire Medical Inc. The major players are adopting several growth strategies such as Product type launches, acquisitions, and collaborations, which are contributing to the growth of the cardiopulmonary stress testing systems market globally. Moreover, In August 2019, Vyaire Medical Inc gained FDA clearance for its two Novel Pulmonary Function Testing Products, Vyntus ONE and Ventus BODY, expanded their existing Vyntus products portfolio, which runs on the easy-to-operate SentrySuite Software.
Cardiopulmonary Stress Testing Systems Market Key Companies to Watch
GC Diagnostics® is a global medical technology company dedicated to cardiorespiratory health solutions. Their attributes make them uniquely qualified to solve today's challenges and uncover solutions for tomorrow's opportunities. Moreover, their products are unparalleled in quality, accuracy, and ease of use. The company is simple to approach and has endured: Integrate the latest advances that today's technology affords, ensure accuracy through superior design, and then back up every product with consistently stellar support.
MGC Diagnostics Corporation is into the continuous offering of a wide range of products, including Cardiology/Stress ECG, Respiratory Therapy and Pulmonology, Sports Medicine, Remote Patient Monitoring and Blood Monitoring. For instance, Ultima PFX® pulmonary function/stress testing system, Ultima™ CardiO2® gas exchange analysis system, Ultima CPX™Metabolic Stress Testing System and others.
The global cardiopulmonary stress testing systems market report would provide an access to an approx.47 market data table, 42 figures and 200pages.
Global Cardiopulmonary Stress Testing Systems Market - By Product type
Global Cardiopulmonary Stress Testing Systems Market - By End user
Global Cardiopulmonary Stress Testing Systems Market - By Region
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