North America Captures the Lion’s Share in Cardiopulmonary Stress Testing Systems Market | Hill-Rom Holdings, Inc., Schiller AG, MGC Diagnostics Corporation, VYAIRE MEDICAL INC

High mortality rate associated with cardiovascular diseases is an essential factor driving sales of cardiopulmonary stress testing systems. In addition to shortages of monitoring and diagnostic tools, pressure put by the global COVID-19 outbreak is significantly pushing the growth of market, as suggested by a new Fact.MR report. The cardiopulmonary stress testing systems market is projected to display a 4.8% CAGR during the forecast period (2020-2025). Key players are targeting technological developments in their product offerings, for higher accuracy and the integration of functionalities into single devices to maintain a strong presence in the market. The demand for cardiopulmonary stress testing systems market will continue to rise strongly, even post the pandemic reveals Fact.MR.

"The global cardiopulmonary stress testing systems market is displaying a positive trajectory. Rising incidences of CVDs and ongoing COVID-19 cases has encouraged manufacturers to introduce novel cardiopulmonary stress testing systems through investments in innovations for their product portfolio," says the FACT.MR analyst.

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Cardiopulmonary Stress Testing Systems Market - Key Takeaways

Cardiopulmonary exercise testing (CPET) systems are anticipated to witness a major surge in demand owing to accuracy in heart disease prognosis.

The demand for stress ECGs will rise on account of high COVID-19 infection rates and strong penetration of major manufacturers.

Diagnostic test centers will remain the primary end user with the growth of outpatient medical procedures.

North America will remain in the lead, with sales of cardiopulmonary stress testing systems set to increase even further here with the COVID-19 outbreak.

Asia Pacific will generate highly remunerative opportunities as major players have better market penetration here.

Cardiopulmonary Stress Testing Systems Market - Key Driving Factors

Favorable government regulations to combat the COVID-19 pandemic has resulted in faster treatment approvals, contributing to market growth.

High mortality rate from cardiovascular diseases in middle- and low-income countries is supporting sales.

Awareness initiatives by non-profit organizations and governments about the importance of CVD diagnostics will support market growth.

Rising investments by market players in tech advancements for better quality patient care also contributes to market growth.

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Cardiopulmonary Stress Testing Systems Market - Key Constraints

Adverse reactions to cardiopulmonary stress testing systems such as abnormal heart rhythms and allergies are expected to hinder market growth.

Shortage of adequately trained healthcare professionals, is expected to impact the demand for cardiopulmonary stress testing systems.

The Anticipated Impact of Coronavirus

Cardiovascular disease is responsible for several million deaths annually, and the problem is being compounded further by the global coronavirus pandemic. The virus can severely damage cardiac tissues through inflammation, particularly among elderly people with underlying medical conditions. The growing number of critically ill COVID-19 patients is expected to strengthen the demand for cardiopulmonary stress testing systems.

Following the outbreak, the FDA has relaxed its regulations on the usage of extracorporeal membrane oxygenation (ECMO) and cardiopulmonary bypass devices to combat the coronavirus. This trend will contribute to a higher production volume till the pandemic subsides. Demand is expected to remain strong even post the pandemic.

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Competition Landscape

The cardiopulmonary stress testing systems market is largely fragmented. Key players in the cardiopulmonary stress testing systems market are Vyaire Medical Inc., Schiller AG, Koninklijke Philips N.V., GE Healthcare, and Hill-Rom Holdings Inc. Majority of these players are investing in diversifying their product portfolios, with the development of advanced technologies to increase the accuracy of patient assessments.

More About the Report

The FACT.MR's market research report of 300 pages offers comprehensive insights on cardiopulmonary stress testing systems market. The market is analyzed on the basis of product (cardiopulmonary exercise testing (CPET) systems, stress ECG, pulse oximeters, stress blood pressure monitors, and single photon emission computed tomography (SPECT)), and end user (hospitals, specialty clinics/ cardiology clinics, ambulatory surgical centers, and diagnostic centers) across five key regions (North America, Latin America, Europe, Asia Pacific, and MEA).

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This release was published on openPR.