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According to a new market report published by Transparency Market Research “Cardiopulmonary Stress Testing Systems Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023”, the global cardiopulmonary stress testing systems market was valued at USD 3,307.5 million in 2014 and is anticipated to expand at a CAGR of 8.2% from 2015 to 2023 to reach USD 6,673.0 million in 2023.The cardiopulmonary stress testing systems market comprises devices that assist in the evaluation of exercise capacity of an individual and predict outcome in patients diagnosed with heart failure. The primary goal of cardiac stress testing is to identify the risk stratification of coronary artery disease (CAD), which is one of the most common causes of deaths globally. Diagnosis and monitoring of cardiopulmonary disorders is rapidly gaining importance in the health care industry in order to prevent the rapid rise in deaths due to increasing prevalence of various cardiovascular and pulmonary disorders. Factors such as aging population, rising incidence of cardiopulmonary disorders, and increasing awareness about the risks associated with cardiopulmonary disorders would contribute to the growth of the cardiopulmonary stress testing systems market. Furthermore, global increase in the number of hospitals is likely to generate fresh demand for cardiopulmonary stress testing systems.
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The global cardiopulmonary stress testing systems market has been segmented on the basis of product type and geography. Based on product type, the cardiopulmonary stress testing systems market has been categorized into five key segments: cardiopulmonary exercise testing (CPET) systems, stress ECG, pulse oximeters, stress blood pressure monitors, and single-photon emission computed tomography (SPECT). Cardiopulmonary exercise testing (CPET) systems have been categorized into two sub-segments: portable CPET systems and stationary CPET systems. CPET was the largest segment of the global cardiopulmonary stress testing systems market. Rise in prevalence of cardiac diseases, rapid growth in geriatric population, and technical advancements are the major factors boosting the global cardiopulmonary stress testing systems market. Furthermore, rise in incidence of coronary artery disease, increase in lifestyle disorders, and growth in disposable income are likely to propel the market during the forecast period.
Geographically, North America held the largest share of the global cardiopulmonary stress testing systems market in terms of revenue in 2014, followed by Europe. These two regions are expected to retain their leadership positions throughout the forecast period from 2015 to 2023. The dominance of these two regions was majorly due to large pool of cardiopulmonary patients and presence of a large number of hospitals that are increasingly adopting innovative products. China and India are the major markets in Asia-Pacific that offer large opportunities for cardiopulmonary stress testing systems manufacturers. The cardiopulmonary stress testing systems market in Asia-Pacific is projected to expand at the highest CAGR during the forecast period. Brazil and Mexico are the major countries in Latin America where the cardiopulmonary stress testing systems market is expected to record strong growth.
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Philips Healthcare, GE Healthcare, CareFusion Corporation, Spacelabs Healthcare, COSMED, MGC Diagnostic Corporation, Nihon Kohden Corporation, Schiller AG, SunTech Medical, Inc. and Welch Allyn are the major players operating in the global cardiopulmonary stress testing systems market. Philips Healthcare, GE Healthcare, CareFusion Corporation, and Spacelabs Healthcare operate in most of the segments of the cardiopulmonary stress testing systems market at a global level.
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