Home > Healthcare > Medical Devices > Diagnostic Devices > ECG Stress Test Market
ECG Stress Test Market Size
ECG Stress Test Market size was valued at around USD 2.3 billion in 2022 and is expected to grow at 8.1% CAGR from 2023 to 2032.The market revenue is estimated to reach over USD 5.2 billion in 2032 driven by Increasing awareness levels related to need of maintaining a healthy lifestyle and getting early diagnosis of different heart related diseases.
Additionally, the surge in digitization and automation of healthcare facilities along with integration of next-generation technologies to offer advanced and improved care to patients will complement the market expansion. Rise in healthcare expenditure, considerable growth in number of people suffering from various respiratory disorders, and increased instances of pulmonary illnesses such arrhythmia, among other factors are projected to contribute to market progress.
A stress test, also known as treadmill test or exercise test, is used to measure the health of the heart during physical activity. The test involves walking on a treadmill or a stationary bike that allows the healthcare professional to monitor patient's heart rhythm, breathing rate and blood pressure during the test through an ECG system. An ECG stress test can estimate if the person has any risk of having heart disease.
| Report Attributes | Details |
|---|---|
| Base Year: | 2022 |
| Market Size in 2022: | USD 2.3 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 8.1% |
| 2032 Value Projection: | USD 5.2 Billion |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 150 |
| Tables, Charts & Figures: | 194 |
| Segments covered: | Product Type, End-use and Region |
| Growth Drivers: |
|
| Pitfalls & Challenges: |
|
High cost of instruments used in ECG stress test and lack of experienced staff performing the test especially in underdeveloped countries is anticipated to impede the market share. For instance, the stress test machines can cost in the range of USD 4,000 to USD 9,000. Healthcare facilities with limited capital budgets find it difficult to deploy such systems. Moreover, the cost of stress tests for uninsured patients can go up to around USD 5,000.
COVID-19 Impact
The recent outbreak of COVID-19 pandemic had a negative impact on the ECG stress test market revenue in 2020. Various restrictions including nation-wide lockdowns were imposed across different countries globally to avoid the spread of the virus. The COVID-19 outbreak had affected the overall healthcare industry. Several factors including interruption of non-emergent medical services, equipment demand and supply shortages, among other disruptions impacted the market revenue. Although, as the COVID-19 infection rate decreased the industry witnessed a rapid recovery and an incremental surge in the year-on-year growth trend in the following years.
ECG Stress Test Market Trends
Significant increase in number of patients suffering from cardiovascular disorders attributable to high diabetic and obese patient pool, unhealthy eating habits, high cholesterol levels, and lack of physical activity among others is expected to drive the market growth over the forecast period. Cardiovascular diseases (CVDs) are among the leading cause of death globally. As per the World Health Organization's 2019 report statistics, around 17.9 people succumbed to death due to CVDs and approximately 85% of these deaths were due to heart attack and stroke related complications globally. Hence, to reduce the overall disease burden and provide early diagnosis to people for heart related disorders, an ECG stress test is recommended thereby augmenting the industry trends.
ECG Stress Test Market Analysis
Based on product type, the ECG stress test market is segmented into exercise testing systems, stress blood pressure monitors, stress ECG, and pulse oximeters. The exercise testing systems segment is anticipated to account for major revenue share of over 49% in 2022 in the market. This is primarily attributed to the ability of exercise testing systems to assess integrative exercise responses including the pulmonary, cognitive, haematopoietic, circulatory, and skeletal muscle systems which are not completely reflected by individual organ system function measurements.
Based on end-use, the ECG stress test market is segmented into hospitals, diagnostic centers, ambulatory surgical centers, and others. The hospitals segment held a majority revenue share in 2022 and is anticipated to witness fastest growth with a CAGR of 8.4% throughout the forecast period. Surge in the number of individuals affected by heart and lung ailments, growing awareness, facilitative reimbursement schemes and availability of better care facilities among others are prime factors responsible for increasing patient footfall in hospital settings.
Additionally, presence of well-trained and equipped healthcare personnel, availability of better infrastructure and advanced equipment, along with supportive government schemes focusing on reducing the heart related disease burden will further fuel the segment growth.
North America ECG stress test market is expected to reach over USD 1.6 billion in 2032. Rising awareness pertaining to early detection of heart and lungs related disorders is projected to support the market landscpae. The U.S. market is predicted to experience substantial expansion in the near future, due to the large number of patients suffering from various illnesses, particularly cardiovascular and pulmonary conditions like arrhythmia, ischemic heart disease, and heart failure. For instance, as per the data reported by Centers for Disease Control and Prevention 2019 report, over 454,000 hospitalizations for Atrial fibrillation (AFib), the most common type of heart arrhythmia, were reported in the U.S.
ECG Stress Test Market Share
Some of the leading players operating in the ECG stress test market include :
- Koninklijke Philips NV
- Nihon Kohden Corp
- General Electric Co
- Vyaire Medical Inc
- COSMED Srl
- Biosensors International Group Ltd.
- SCHILLER AG
The market is competitive in nature, with major players, regional and local companies, and start-ups consolidating the industry competition. The leading market players are involved in strategic developments including research and development, product launches, collaboration, in order to improve their market positioning and revenue generating capabilities.
ECG Stress Test Industry News:
- In August 2019, Vyaire Medical, Inc. received FDA 510(k) clearance for its two new pulmonary function testing technology, Vyntus ONE, Vyntus BODY. These technologies are equipped with SentrySuite Software. The product focuses on improvements in accuracy and efficiency of pulmonary function testing. Hence, this strategic development is expected to boost the company's revenue and its industry presence.
- In September 2018, SCHILLER, a Switzerland company, launched its ECG device CARDIOVIT AT-102 G2. It is the latest electrocardiography product of the company. This development is expected to play a key role in expanding company's product portfolio and business growth in the coming years.
ECG stress test market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032, for the following segments:
Click here to Buy Section of this Report
By Product Type, 2018 - 2032 (USD Million)
- Exercise Testing Systems
- Stress Blood Pressure Monitors
- Stress ECG
- Pulse Oximeters
By End-use, 2018 - 2032 (USD Million)
- Hospitals
- Diagnostic Centers
- Ambulatory Surgical Centers
- Others
The above information is provided for the following regions and countries:
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Poland
- Sweden
- The Netherlands
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Indonesia
- Philippines
- Vietnam
- Latin America
- Brazil
- Mexico
- Argentina
- Columbia
- Peru
- Chile
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Turkey
- Israel
- Iran
Frequently Asked Questions (FAQ) :