Cardiopulmonary Stress Testing Systems Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028)

The cardiopulmonary stress testing systems market was anticipated to record a CAGR of nearly 4.6% during the forecast period.

The COVID-19 pandemic largely impacted healthcare systems worldwide. For instance, data from the National Institute of Health, published in February 2021, suggested that the COVID-19 pandemic did not change the clinical profile of patients referred to exercise testing. In addition, performing exercise testing wearing a facemask is feasible, with no influence on functional capacity and clinical results. Therefore, such studies indicate that the pandemic did not have a significant impact on the market studied. However, the study from PubMed, published in December 2021, suggested that circulatory impairment, abnormal ventilatory pattern, and myalgic encephalomyelitis/chronic fatigue syndrome are common in patients with post-acute sequelae of severe acute respiratory syndrome-coronavirus-2 (SARS-CoV-2) infection (PASC). The dysfunctional breathing, resting hypocapnia, and ME/CFS may contribute to symptoms. There was an increasing need for cardiopulmonary stress testing equipment to assess cardiac stress. Thus, such factors indicate that there was a great impact of the COVID-19 pandemic on the market's growth.

Key factors propelling the market's growth include the increasing prevalence of cardiovascular diseases and rising healthcare expenditure across the world.

Cardiovascular diseases are posing immense pressure on the global healthcare industry. For instance, the data published by the European Heart network in 2021 reported that, in the European Union, more than 60 million people live with cardiovascular disease and close to 13 million new cases of cardiovascular diseases are diagnosed every year, demanding the adoption of stress testing procedures for early diagnosis of heart diseases.

Rising R&D studies proving the efficiency of cardiopulmonary stress tests in detecting cardiopulmonary conditions may further boost the market's growth. For instance, a study from the National Institute of Health, published in May 2022, suggested that selected cardiopulmonary exercise testing (CPET) parameters relate to the severity of angina symptoms and quality of life. Oxygen-pulse plateau detects the severity of myocardial ischemia. Thus, the advantages of early diagnosis of heart diseases with stress tests may help decrease the mortality rate associated with these diseases, thereby boosting the market.

The adoption of key strategies, such as mergers and acquisitions, by key players to expand the product portfolios and geographical presence may further drive the market's growth. For instance, in September 2021, SunTech Medical Inc. completed the acquisition of Meditech Kft, a manufacturer of ambulatory blood pressure monitors (ABPM) and ECG Holter devices based in Budapest, Hungary. This acquisition may allow SunTech to leverage the two companies' expert knowledge of blood pressure (BP) to bring better BP solutions to customers for monitoring cardiac stress.

However, stringent regulations laid out by the regulatory bodies, more challenges during the development stage, and expensive testing procedures are expected to hinder the market's growth during the forecast period.

Key Market Trends

Exercise Testing Systems are Expected to Hold the Largest Market Share During the Forecast Period

Exercise testing systems account for a significant share of the market due to their accuracy and the least operating time. The increased preference by physicians and patients due to their cost-effectiveness and multiple applications of these devices also contribute to the rising adoption of these systems, thus fueling the growth of the market.

Exercise cardiac stress testing (EST) is the most widely used cardiac screening test. The patient exercises on a treadmill according to a standardized protocol, with progressive increases in the speed and elevation of the treadmill. During the exercise cardiac stress testing (EST), the patient's electrocardiogram, heart rate, heart rhythm, and blood pressure are continuously monitored.

The positive outcomes of the usage of exercise testing system in early diagnosis of diseases are expected to drive its adoption globally, thus driving the market. For instance, the study from the National Institute of Health, published in June 2022, stated that exercise testing systems are useful for training prescriptions and defining responses to clinical trials. Recent advances in wearable technology and artificial intelligence provide unique opportunities to broaden the application of these tests and facilitate their interpretation. Therefore, with advancements in wearable technologies, the segment is expected to witness strong growth in the coming years.

The presence of multiple exercise testing systems by major players, with multiple advantages and innovations, is expected to boost market growth. For instance, in May 2022, MGC Diagnostics, a global medical technology company, announced that it partnered with UK med-tech company, Bedfont Scientific Ltd, a world leader in breath analysis with a portfolio that includes the NObreath fractional exhaled nitric oxide test monitor for use in the hospital or at remote locations. With such partnerships and activities from key companies, the segment is expected to witness growth during the forecast period.

North America is Expected to Hold a Major Share of the Market

North America is expected to dominate the cardiopulmonary stress testing (CPST) systems market throughout the forecast period. The United States is expected to register significant growth during 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, generating higher demand for CPST systems.

For instance, according to the May 2022 update by the Centers for Disease Control and Prevention (CDC), the prevalence of obesity was 39.7% in 2021, which is significantly high. Obesity is the major cause of cardiopulmonary diseases, thus driving the market's growth. Increasing incidences of lifestyle diseases and enhanced awareness among medical professionals about the advantages of CPST, along with the availability of advanced healthcare infrastructure in the region, contribute to the segment's outstanding share in the overall revenue.

According to an article published by Indiana University in February 2021, the team launched invasive cardiopulmonary exercise testing, which will allow for invasive hemodynamic assessment of cardiac chambers filling pressure and compliance during exercise. Thus, the availability of such cardiac stress testing in the country may augment the market.

Competitive Landscape

The cardiopulmonary stress testing systems market is moderately competitive and consists of several major players. In terms of market revenue, a few prominent players currently dominating the market are vigorously making acquisitions with other companies to consolidate their market positions across the world. Some of the companies currently dominating the market are Koninklijke Philips NV, Hillrom Services Inc., General Electric Company, MGC Diagnostics Corporation, and OSI Systems Inc.

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