The dramatic change in lifestyles marred by poor dietary intake, lack of exercise, and stressful schedules have all worked towards making the global population susceptible to obesity and related disorders. A growing consequence of this is seen in the rising number of cardiac patients, who, in turn, have increased the uptake of cardiopulmonary stress testing systems. These systems are used for evaluating the condition of the patient’s heart.
According to the World Health Organization (WHO), coronary artery diseases account for 64% of overall cardiovascular deaths across the globe, which has become the primary cursor for increasing sales of cardiopulmonary stress testing systems. In a bid to help patients take well-calculated preventive measures, healthcare centers are adopting various types of cardiopulmonary stress testing systems to provide holistic health checkups.
Transparency Market Research’s recently published report states that the opportunity in the global cardiopulmonary stress testing systems will be worth US$6.67 bn by 2023 as compared to US$3.30 bn in 2014. Between 2015 and 2023, the market is expected to rise at a CAGR of 8.20%. The global market will also receive a boost from growing healthcare infrastructure in the developing countries. The increasing disposable incomes, rising awareness amongst people about cardiovascular diseases and other related conditions, and the burgeoning health insurance industry are collectively expected to provide this market an impetus.
Obesity Continues to Fuel North America Market
The North America cardiopulmonary stress testing systems market is expected to expand at a CAGR of 7.3% between 2015 and 2023. The growth in this region will be attributable to the high adoption rate of cardiac monitoring equipment such as cardiopulmonary exercise testing (CPET) systems, pulse oximeters, stress ECG, SPECT, and stress blood pressure monitors. A high incidence of cardiac disorders in the region due to rising cases of obesity are the prime reason for the remarkable growth of this regional market.
The presence of leading equipment manufacturers in the North America cardiopulmonary stress testing systems market, high awareness amongst people, and enactment of laws such as Affordable Healthcare Act have further bolstered the demand for such equipment in the recent years. The market in North America has also benefited from supportive healthcare infrastructure and introduction of innovative products with ongoing research and development activities.
Asia Pacific is anticipated to be the next big regional market in the overall cardiopulmonary stress testing systems market. The improving purchasing power of consumers, a huge population base, and growing number of patients being diagnosed with cardiovascular diseases will keep this region at the forefront of the global market in the near future.
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Demand for CPET Increases with Technological Advancements
Amongst the various types of products studied in the report, the cardiopulmonary exercise testing (CPET) systems are expected to see an upswing in demand. This segment includes portable CPET systems and desktop CPET systems. The critical role of this non-invasive test to ascertain pulmonary, neuropsychological, hematopoietic, cardiovascular, and skeletal muscle systems’ response to exercise has been propelling the growth of these systems. Technological advancements in this equipment to evaluate the functional parameters are anticipated to boost the market’s growth. The report states that the CPET systems segment will expand at a CAGR of 8.5% between 2015 and 2023.
Some of the leading players operating in the global cardiopulmonary stress testing systems market are Spacelabs Healthcare, GE Healthcare, Philips Healthcare, and CareFusion Corporation. Analysts state that players must look at investing in developing regions as the countries will have higher healthcare budgets in the coming years. Furthermore, companies could also benefit from the rising medical tourism industry in the emerging economies that are willing to spend on acquiring new equipment and systems.
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