Technological innovations remains the focus of established players in the intensely competitive cardiopulmonary stress testing systems market. The market is also facing the emergence of emerging players at an exponential rate that are vying to develop high-value, cost-effective ancillary devices for cardiopulmonary stress testing systems.
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Among the several factors driving the global cardiopulmonary stress testing systems market, the significant increase in the adoption of stress testing procedures for early diagnosis of heart diseases is a prominent one. Diagnosis of proper functioning of heart remains the first line of treatment that helps physicians to evaluate the health status of patients that are at risk of cardiovascular diseases.
Further, key players in the cardiopulmonary stress testing systems market are considering collaborations and licensing agreements to penetrate relatively untapped markets that have low entry barriers along with high growth potential. As a result, these players are expected to get more and more involved into mergers and acquisitions and strategic partnerships with regional players over the forthcoming years.
Considering the development of diverse technological products for cardiopulmonary stress testing and various other factors, a report by Transparency Market Research (TMR) states the global cardiopulmonary stress testing systems market stood at US$2.08 bn in 2016. Expanding at a CAGR of 4.6% for the forecast period between 2017 and 2025, the market is expected to be valued at US$3.08 bn by the end of 2025.
Among the various product types, the segment of cardiopulmonary exercise testing system is anticipated to lead the global cardiopulmonary stress testing systems market over the forecast period. By end-user, hospitals segment is likely to dominate the market in terms of value over the forecast period of 2017-2025. Geography-wise, North America is anticipated to continue its dominance in the global cardiopulmonary stress testing systems market vis-à-vis revenue over the forecast period.