Transparency Market Research Report Added "Cardiopulmonary Stress Testing Systems Market" to its database.
Albany, NY -- (SBWIRE) -- 09/03/2015 -- Constant increase in the incidence of coronary artery diseases such as angina pectoris and the growing geriatric population will lead the cardiopulmonary stress testing systems market from US$3,307.5 million in 2014 to US$6,673.0 million in 2023. The cardiopulmonary stress testing systems market is expected to grow at a CAGR of 8.2% during the period between 2014 and 2023.
North America and Europe Leading Global Market
The global cardiopulmonary stress testing systems market is geographically segmented into North America, Europe, Asia Pacific, Latin America, and Rest of the World. North America leads the global cardiopulmonary stress testing systems market with the highest revenue share in 2014. Europe is the second largest shareholder in the market. Both North America and Europe are expected to continue their dominance during the period from 2015 and 2023. Adoption of innovative products and increase in the number of cardiopulmonary patients has allowed these two regions to dominate the global cardiopulmonary stress testing systems market.
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In Asia Pacific, the cardiopulmonary stress testing systems market is led by India and China. Introduction of international manufacturers of cardiopulmonary stress testing systems has put India and China in the leading position. The market in Latin America is dominated by Brazil and Mexico. Contribution from many local and international players has resulted in the growth of the global cardiopulmonary stress testing systems market. Philips Healthcare, CareFusion Corporation, MGC Diagnostic Corporation, Nihon Kohden Corporation, and Schiller AG are some of the lead players.
Increasing Incidence of Cardiopulmonary Disorders Driving Global Market
Factors such as the growing aging population and increasing cardiopulmonary disorders have led to the growth of the cardiopulmonary stress testing systems market globally. People all around the globe have become aware of the risks associated with cardiopulmonary diseases. The number of hospitals offering treatments for cardiopulmonary diseases has increased in the recent past. With this, there has been an increase in the number of hospitals globally.
As per analysis done by the Centers for Disease Control and Prevention, around 370,000 deaths occur every year due to coronary heart diseases in the U.S. Irregular diets, obesity, smoking habits, and other health issues are responsible for the growing prevalence of cardiopulmonary diseases globally. The global cardiopulmonary stress testing systems market is also driven by technical advancements in stress testing devices and reduction in complications linked with stress testing procedures.
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Stationary CPET Devices Dominate Global Market
On the basis of product type, the global cardiopulmonary stress testing systems market is categorized into stress ECG, blood pressure monitors, single photon emission computed tomography SPECT, and pulse oximeters. Advancements in technology in cardiopulmonary exercise testing systems allow physicians to easily access the integrative responses including skeletal, pulmonary, hematopoietic, neuropsychological, and cardiovascular systems. CPET systems are further classified into stationary CPET and portable CPET systems. Stationary CPET systems dominated the market for CPET devices in 2014 with a 75% market share.
The cardiopulmonary stress testing systems market has grown positively in the recent past due to the introduction of a variety of devices that are used for evaluating exercise capacity. Thanks to the introduction of such devices, the global cardiopulmonary stress testing systems market is expected to grow faster during the forecast period.
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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