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.
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.
The cardiopulmonary exercise testing is used to evaluate exercise capacity and predict outcome in patients with heart failure and other cardiac conditions. It provides an assessment of integrative exercise responses for the patients suffering from pulmonary, cardiovascular, and skeletal muscle systems.
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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.
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.
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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The market has been covered across major regions such as Europe, North America, South America, the Middle East & Africa (MEA) and Asia Pacific (APAC).
North America and South America collectively accounted for the largest market in 2017 and the trend is likely to continue in 2018 and beyond. Presence of a large patient population and availability of cutting-edge medical technology put the Americas, in particular North America at an advantageous position in the global cardiopulmonary exercise testing market. In addition, widespread awareness about advantages of early diagnostics is creating growth opportunities for market in North America.
Meanwhile, Europe represent the second largest market for cardiopulmonary exercise testing. Factors such as high healthcare expenditure and availability of medical welfare schemes are having positive impact on the regions market.
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