Belgium ECG Equipments Market Analysis

Belgium ECG Equipments Market Analysis

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Belgium's ECG Equipment Market is expected to witness growth from $20 Mn in 2022 to $34 Mn in 2030 with a CAGR of 7.30% for the forecasted year 2022-2030. Heart conditions such as coronary artery disease, rhythm disorders, and heart failure are very common in Belgium. Due to this, there is now more demand for ECG equipment as a diagnostic tool, which is anticipated to fuel market expansion. The market is segmented by product type and by the end user. Some key players in this market include Trasis, Acertys Healthcare, Johnson & Johnson, Philipps Healthcare, Medtronic, GE Healthcare, and Nihon Kohden.

ID: IN10BEMD008 CATEGORY: Medical Devices GEOGRAPHY: Belgium AUTHOR: Jigyasu Bhandari

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Belgium ECG Equipment Healthcare Market Executive Analysis

Belgium's ECG Equipment Market is at around $20 Mn in 2022 and is projected to reach $34 Mn in 2030, exhibiting a CAGR of 7.30% during the forecast period. In Belgium, 0.8% of GDP is being allocated to the management and protection of the public healthcare system in 2022. Belgium's overall health expenditure as a proportion of GDP climbed from 11.28% in 2018 to 13.2% in 2023. The aggregate expenditures are greater than the EU average. The total amount spent by the public sector over the past ten years has been steadily rising and has typically maintained pace with levels in the European Union. (EU).

In Belgium, ECG equipment is frequently used to track the heart's function throughout time. For instance, ECG testing may be routinely performed on individuals with cardiac disorders to evaluate changes in their heart function and assess the efficacy of treatment. ECG testing often yields data rapidly, enabling medical professionals to immediately identify and treat cardiac issues. This may be particularly crucial in urgent circumstances, like a heart attack.  ECG devices come in a variety of shapes and sizes, ranging from big hospital-grade machines to small gadgets that may be used in a clinic or even in a patient's home. It can therefore be applied in a range of healthcare settings, making it a flexible tool. An ECG is a non-invasive diagnostic technique, which means that no incisions or external instrumentation are necessary. As a result, patients should expect a generally painless and safe process.

Belgium ECG Equipment Market Analysis

Market Dynamics

Market Growth Drivers

Heart conditions such as coronary artery disease, rhythm disorders, and heart failure are very common in Belgium. Due to this, there is now more demand for ECG equipment as a diagnostic tool, which is anticipated to fuel market expansion. With technological breakthroughs like wireless ECG devices, wearable ECG monitors, and cloud-based ECG data management systems, the market for ECG equipment is rapidly changing. The market is anticipated to rise as a result of these technological developments as healthcare professionals look for diagnostic instruments that are more accurate and efficient. The Belgian government has put in place a number of programmes to encourage the use of medical technology, such as ECG equipment. These programmes, which aim to enhance patient safety and healthcare results, are anticipated to fuel market expansion.

Market Restraints

Belgium's market for ECG equipment is extremely competitive, with a number of large players present. Smaller firms may find it difficult to expand as a result, especially if they cannot compete on either price or quality. ECG equipment can be pricey, especially when compared to the newest equipment and innovations. This may prevent some healthcare professionals or those with tighter resources from implementing these devices. The adoption of ECG technology may be constrained by the lack of awareness among some healthcare professionals and patients of its advantages.

Competitive Landscape

Key Players

  • Trasis (BE)
  • Acertys Healthcare (BE)
  • Johnson & Johnson
  • Medtronic
  • Philipps Healthcare
  • GE Healthcare
  • Nihon Kohden

Recent Notable Deals

2021: The UZ Brussel Hospital in Belgium and Royal Philips announced a partnership in 2021 to create a new telehealth platform for remote cardiac monitoring. The platform makes use of Philips' ECG technology to provide remote ECG testing for patients, with the data being sent to medical professionals for evaluation.

Healthcare Policies and Regulatory Landscape

The Federal Agency for Medicines and Health Products (FAMHP) oversees ECG equipment in Belgium. The FAMHP is in charge of making sure that ECG equipment complies with legal requirements for marketing and that it meets the necessary criteria for performance and safety. The Medical Device Regulation (MDR), which outlines the specifications for the design, production, and marketing of medical devices across the European Union, governs the regulatory environment for medical devices in Belgium. According to the MDR, all medical devices, including ECG equipment, must be registered with the appropriate national authorities and subject to a conformity assessment to confirm that they adhere to the mandated requirements. 

1. Executive Summary
1.1 Device Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Regulatory Landscape for Medical Device
1.6 Health Insurance Coverage in Country
1.7 Type of Medical Device
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company Overview Product Applications and Services Recent Developments Partnerships Ecosystem Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

ECG Equipment Market Segmentation

By Product Type (Revenue, USD Billion):

  • Holter Monitors
  • Resting ECG Machines
  • Stress ECG Machines
  • Event Monitoring Systems
  • ECG Management Systems
  • Cardiopulmonary Stress Testing Systems

By End User (Revenue, USD Billion):

  • Hospitals and Clinics
  • Diagnostic Centres
  • Ambulatory Services
  • Others

Insights10 will provide you with the reports within 10 key parameters which are:

  1. Market Overview
  2. Market Growth Drivers & Restraints
  3. Epidemiology of Disease Type
  4. Market Segmentation
  5. Market Share
  6. Competitive Landscape
  7. Key Company Profiles
  8. Healthcare Policies & Regulatory Framework
  9. Reimbursement Scenario
  10. Factors Driving Future Growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.


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The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and  Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.

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Stage III: Interpretation and Presentation

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  • Establishing market drivers and trends
  • Analyzing the regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue/volume
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The market is segmented by product type and by end user.

The Belgium ECG Equipment Market is studied from 2022-2030.

Trasis, Acertys Healthcare, Johnson & Johnson, Philipps Healthcare, Medtronic, GE Healthcare, Nihon Kohden are the major companies operating in Belgium ECG Equipment market. 

This report addresses

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  • Qualitative, acute and result oriented market analysis
  • Market size and forecasts from 2022 to 2030
  • Opportunities for expansion and in-depth market analysis
  • Segmentation and regional revenue forecasts
  • Analysis of the market share and competitive landscape
  • Strategic Recommendations to chart future course of action
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Last updated on: 23 November 2023
Updated by: Vidhi Upadhyay

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