Cardiopulmonary Exercise Testing (CPET) Market Overview
Cardiopulmonary exercise testing (CPET) is a proven effective way of analyzing heart condition and cardiopulmonary conditions. These tests comprise electrocardiography analysis, blood pressure, etc. and are extremely common in advanced countries owing to the well-spread awareness and the rising health consciousness among people.
Accrediting the growth of this fiercely ascending market, Market Research Future (MRFR) in its recently published study report asserts that the global cardiopulmonary exercise testing market will reach USD 3,153.20 MN by 2023, registering approximately 5.80% CAGR during the forecast period (2018-2023). In 2017, the market value was registered as USD 2,248.21 MN.
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The global cardiopulmonary exercise testing market is also propelled by the pervasively rising number of patients suffering from arterial diseases and the increasing advancements in technologies used in the field of heart care. Moreover, the increasing number of patients suffering from obesity and diabetes along with the changing lifestyle has been supporting the expansion of the cardiopulmonary exercise testing market.
Some of the leaders of the market include
- Cardinal Health
- GE Healthcare
- Halma plc.
- COSMED SRL
- Koninklijke Philips N.V.
- Masimo Corporation
- MGC Diagnostics Corporation
- Hill-Rom Holdings Inc.
- Nihon Kohden Corporation
- Schiller AG
- and Vyaire Medical Inc.
Additionally, increasing government initiatives and funding for research, rising demand for technologically advanced cardiopulmonary exercise tests, and developments in advanced medical treatment options are substantiating the market growth.
Cardiopulmonary Exercise Testing Market – Segmentations
MRFGR has segmented the analysis into three key dynamics for an easy grasp.
By Product : Cardiopulmonary Exercise Testing (CPET) Systems, Single-Photon Emission Computed Tomography (SPECT), Echocardiogram, Pulse Oximeters, and Stress Blood Pressure Monitors, among others.
By End-user : Diagnostic Centers, Hospital/Clinical Laboratories, and Ambulatory Centers among others.
By Regions : North America, Europe, APAC and Rest-of-the-World.
On the flip side, factors such as the high cost of maintenance, and requirement of biomedical training among others are acting as a headwind that is impeding the market growth. Also, the lack of expertise among healthcare professionals is expected to hamper the market growth. Nevertheless, the augmented demand for these tests and proper healthcare in developing regions is expected to support the market growth in the years to come
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Cardiopulmonary Exercise Testing Market – Geographical Analysis
North America accounts for the global leader for the cardiopulmonary exercise testing market. Factors positively impacting market growth include the increasing prevalence of cardiovascular diseases, hypertension, and obesity issues that are leading to heart diseases & disorders and the rising geriatric population. The market is continually growing due to the growing number of patients suffering from major/minor heart issues.
The Europe cardiopulmonary exercise testing market stands the second position, globally in terms of the market size owing to the increasing healthcare expenditures, availability of a world-class exercise testing system, and government initiatives, the CPET market in the European region is estimated to register a remarkable CAGR during the forecast period (2018-2023). Increasing cardiovascular issues in the region are contributing to the market growth, becoming paramount concerns.
The cardiopulmonary exercise testing market in the Asia Pacific region is rapidly emerging as a promising market. Growing number of aging populaces alongside the prevalence of cardiac disorders growing at an alarming rate are driving the market in the region. Also, some of the other dominant factors such as the faster adoption of healthcare technology, government initiatives to improve the quality of healthcare, favorable insurance, and reimbursement policies are fostering the growth of the APAC market.
The study revealed that nearly half of patients who withdrew from pharmacological HF therapy and were considered as being recovered from dilated cardiomyopathy are at high risk of relapse.
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Cardiopulmonary Exercise Testing Market – Competitive Landscape
The market appears to be fragmented and fiercely competitive owing to the presence of numerous large and small players, accounting for a substantial market share incorporating strategic initiatives such as partnership, acquisition, collaboration, expansion, and technology launch.
Significant investments are getting transpired to bring innovations into clinical trials of these tests. The growth potential demonstrated by the market is expected to attract several new entrants, which will intensify the competition in the market further.
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