‘Stress’ is a word heard all too much in the fast paced, hectic lives that we all lead today. But what exactly is stress? In simple terms, it’s just a way for the body to respond to any kind of threat, either real or perceived. Stress hormones like adrenalin and cortisol are released by the nervous system, which prepare the body to either fight or take flight! A moderate amount of stress is actually good, contradictory as that may seem. It keeps you alert at work, focused on winning a game or even motivates you to study when a crucial exam is approaching! However, when a person’s physical and mental well-being is threatened by their high stress levels, medication of some sort is required. That’s where the stress test equipment market comes into picture. A stress test helps find out if a person has arrhythmia, if breathing problems faced are heart-related, how much they should exercise, or even to see if heart disease treatments are working. It is done by making a person walk on a treadmill to measure the heart rate, breathing, BP and the electrocardiogram.
Stress Tests Equipment market:Drivers, Restraints, Key regions and Key Market Players
‘Prevention is better than cure’ is one of the most famous proverbs that cannot be more apt anywhere but in the drivers of the stress test equipment market. An aging population in the developed world, increasing prevalence of cardiac and breathing disorders due to rising pollution levels in the developing world all contribute to the growth of the stress test equipment market. Even new hospitals constructed would definitely be responsible for increase in the demand. In 2014, more than a third of all deaths worldwide could be linked to cardiovascular diseases as per an estimate by the American Heart Association. Increasing awareness by the general public and also various government initiatives to educate people about various treatments available is expected to only grow the demand for this product and the whole market.
It would seem that all factors point to an increasing level of stress and thus an ever-growing market to check or control it. However, the stress test equipment market also has a few restraints challenging its growth which must be mentioned. Acts such as the Affordable Care Act, encourages the healthcare sector to provide cost-effective treatment to their patients. This also makes them seriously reconsider investing in expensive stress test equipment. This becomes a much larger problem in the developing world, since the funds available with hospitals or the private sector there is much lower.
The Stress Tests Equipment market key regions correspond to the various geographic divisions i.e. North America, Europe, Asia- Pacific, Latin America, Middle East and North Africa (MENA) and the rest of the world (RoW). North America is currently the largest market because they have the most medical professionals and also some of the highest stress levels (hence greater awareness of the tests). However, Asia- Pacific and in particular China is fast catching up in this category. Rising levels of air pollution have increased the occurrence of both respiratory and cardiovascular issues in this fast growing region, fuelling the long-term growth prospects of the stress test equipment market.
Thermo Fisher Scientific Ltd., Philips healthcare, Cardinal Health, Care Medical Ltd., Cosmed Medical, Cardiac Science Corporation and GE Healthcare are some of the stress tests equipment market key market players. Most of the companies are based in North America, since it is currently the largest stress test equipment market.
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