Cardiopulmonary Exercise Testing Market Emerging Technologies and Competitive Landscape Forecast 2023
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.
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.
Owing
to the growing rate of cardiovascular disorders, worldwide, the cardiopulmonary
exercise testing market is accruing pervasively. Although a number of
procedures and innovative therapies are there in the market, the prevalence of
these diseases is becoming a major concern, rising continuously. Such factors
commutatively contribute to the growth of the cardiopulmonary exercise testing
market, globally.
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.
Major Market Key Players Competitive
Analysis:
noted
market players that have been included in the report. Key growth strategies used
by these players to influence market growth include research & development,
expansion of product portfolio and strategic acquisitions. 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
Vyaire
Medical Inc.
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
Market Segmentation:
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.
5
Market Growth Factor Analysis
5.1
Porter’s Five Forces Model
5.1.1
Bargaining Power Of Suppliers
5.1.2
Bargaining Power Of Buyers
5.1.3
Threat Of New Entrants
5.1.4
Threat Of Substitutes
5.1.5
Intensity Of Rivalry
5.2
Price Analysis
5.3
Investment Opportunity Analysis
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5.4
Value Chain Analysis
5.4.1
Supporting Activity
5.4.2
Inbound Logistics
5.4.3
Operations
5.4.4
Marketing And Sales
5.4.5
Outbound Logistics
5.4.6
Customer Services
Cardiopulmonary Exercise
Testing Market - Geographical Analysis
The
Americas lead the global market in terms of growth due to its significant
market size. The region is expected to retain its majority market share over
the review period due to the presence of a rising patient population, a
considerable portion of which is aged. Moreover, rising awareness regarding
health care has increased the demand for early diagnostic practices, with
patients becoming increasingly involved in their treatment and diagnosis
process. The high rate of incidence of heart diseases, combined with the
presence of prominent manufacturers as well as a high disposable income is
expected to drive the market. The region has a well-established healthcare
system which supports adoption of advanced medical devices for cardiopulmonary
exercise testing. The European market accounts for the second most significant
market in the global cardiopulmonary exercise testing market. The region’s
rapidly expanding pharmaceutical sector, along with rising government
initiatives to promote research and development of cardiac treatment &
diagnosis. The region has similar growth drivers as those of the North American
market.
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Meanwhile,
the Asia Pacific regions follow North America and Europe in terms of size and
is expected to witness significant growth in the coming years. The region has a
massive patient population which drives the demand for cardiopulmonary exercise
testing. Healthcare investments are rising in the region due to the improvement
of economic growth. Manufacturing giants from developed regions are
increasingly investing in the APAC market due to the presence of low
operational costs and lucrative opportunities for growth. China and India are
leading country-level markets present in the APAC market.
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