Global Cardiopulmonary Stress Testing (CPST) Systems Market Outlook to 2025 - Koninklijke Philips, Hillrom Services, General Electric, MGC Diagnostics, and OSI Systems Currently Dominate
DUBLIN, Feb. 27, 2020 /PRNewswire/ -- The "Cardiopulmonary Stress Testing Systems Market - Growth, Trends, and Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
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The Cardiopulmonary Stress Testing Systems Market studied was anticipated to grow with a CAGR of nearly 4.6%, during the forecast period.
The major factors attributing to the growth are a rise in the global prevalence of multiple cardiovascular indications and atrial fibrillation necessitating the evaluation of Cardiopulmonary functioning. For instance, according to Global Health And Wellness Report - 2018, about 40% of the adult population in the United States have been diagnosed with a cardiovascular condition in 2018 demanding the adoption of stress testing procedures for early diagnosis of heart diseases driving the market growth throughout the forecast period.
Key Market Trends
Exercise Testing Systems Expected to Hold the Largest Market Share
The Exercise Testing Systems attributes the largest share in the market owing to the accuracy and the least operating time taken by these devices. Furthermore, the increased preference by the physicians and patients due to their cost-effectiveness and multiple applications of these devices also contribute to the rise in the adoption of these systems fueling the growth of the market.
Based on the end-users, the hospital segment is expected to dominate the cardiopulmonary stress testing systems market. Dominance is due to the preference of patients for the early diagnosis of cardiovascular diseases as prescribed by physicians. The diagnostic centers are likely to witness the highest growth due to the adoption of advanced technologies in the developed countries driving the global cardiopulmonary stress testing systems market over the forecast period.
North America Dominates the Market and Expected to do the same over the Forecast Period
North America is expected to dominate the global cardiopulmonary stress testing (CPST) systems market throughout the forecast period. The dominance is due to the rising prevalence of cardiovascular and pulmonary disorders such as arrhythmia, heart failures, ischemic heart disease, dyspnea and heart valve imbalance in the United States which generates higher demand for the CPST.
For instance, according to the Journal of American Medical Association report - 2018, about 93.3 million adults over the age of 20 in the United States were obese which is the major cause for cardiopulmonary diseases driving the market growth in the forecast period.
Also, increasing incidences of lifestyle diseases and enhanced awareness among the medical professionals about the advantages of CPST along with the availability of advanced healthcare infrastructure in the region contributes to its outstanding share in the global market revenue.
Competitive Landscape
The cardiopulmonary stress testing systems market is moderately competitive and consists of several major players. In terms of market revenue, few of the prominent players currently dominating the market are vigorously making acquisitions with the other companies to consolidate their market positions across the globe and while others are launching new products.
For example, in August 2019, Vyaire Medical Inc received FDA clearance for its two Novel Pulmonary Function Testing Products Vyntus ONE and Vyntus BODY, expanded their existing Vyntus products portfolio which runs on the easy-to-operate SentrySuite Software.
The approved products offer a modern ergonomic design, consistent and accurate respiratory testing attracting the attention of customers in the U.S. Healthcare contributing to the market growth. Some of the companies which are currently dominating the market are Koninklijke Philips N V, Hillrom Services Inc, General Electric Company, MGC Diagnostics Corporation, OSI Systems Inc.
Key Topics Covered
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rise in Global Healthcare Expenditure
4.2.2 Rise in Global Prevalence of Cardiopulmonary Disorders
4.3 Market Restraints
4.3.1 Stringent FDA Regulations
4.3.2 Higher Challenges During the Development Stage and Expensive Testing Procedures
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Product Type
5.1.1 Stress Blood Pressure Monitors
5.1.2 Exercise Testing Systems
5.1.3 Stress ECG
5.1.4 Others
5.2 End-user
5.2.1 Hospitals
5.2.2 Specialty Clinics
5.2.3 Ambulatory Surgical Centers
5.2.4 Others
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle-East and Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle-East and Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 MGC Diagnostics Corporation
6.1.2 General Electric Company
6.1.3 Koninklijke Philips N.V.
6.1.4 Hill-Rom Holdings Inc.
6.1.5 OSI Systems Inc.
6.1.6 Cosmed Srl
6.1.7 Cardinal Health
6.1.8 Care Medical Ltd.
6.1.9 Cardiac Science Corp.
6.1.10 Thermo Fisher Scientific Ltd.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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