Egypt ECG Equipment Market is expected to witness growth from $25 Mn in 2022 to $49 Mn in 2030 with a CAGR of 8.80% for the forecasted year 2022-30. The Egyptian government has made significant investments in the healthcare industry, including the construction of brand-new hospitals and centres as well as the remodelling of already-existing ones. As a result, the demand for ECG equipment has grown. The market is segmented by product type and by the end user. Some key players in this market include Wassenburg Medical, EMG-EP Technologies, Johnson & Johnson, Philipps Healthcare, Medtronic and Dexcom.
Egypt ECG Equipment Market is expected to witness growth from $25 Mn in 2022 to $49 Mn in 2030 with a CAGR of 8.80% for the forecasted year 2022-30. Till 2021, only 5.2% of Egypt's overall budget, or 1.5% of GDP, went to the health sector. Healthcare expenses' proportion in the budget decreased, from 4.9% in 2019 to 4.2% in 2022, the lowest amount in the previous five years. 1.6% of GDP is a record level for government spending on health. In Egypt, spending on public health has grown to 3% of the GDP.
In Egypt, ECG equipment is frequently used to identify and track a variety of cardiac conditions. A variety of cardiac conditions, such as arrhythmias, myocardial infarction (heart attack), and coronary artery disease, are diagnosed using ECG equipment. The electrical activity of the heart can be continuously monitored with ECG equipment, which can be useful for identifying and treating cardiac conditions. Prior to surgery, an ECG can be used to assess a patient's heart health and help identify any possible risks. Population screening programmes can use ECG equipment to find people who may have cardiac conditions. During physical activity and athletic competition, players' heart rates and rhythms can be observed using ECG equipment. ECG equipment can be used to remotely observe patients with heart conditions, enabling medical professionals to keep an eye on the patient's heart health.
Market Growth Drivers
The Egyptian government has made significant investments in the healthcare industry, including the construction of brand-new hospitals and centres as well as the remodelling of already-existing ones. As a result, the demand for ECG equipment has grown. Due to Egypt's high cardiovascular illness prevalence, there is an increasing need for ECG equipment. Significant improvements in ECG technology have been made in Egypt, including the creation of wireless and portable ECG devices that have increased patient convenience and comfort. Market expansion is probable for producers who can provide cutting-edge technology and unique features.
Market Restraints
Competitors include inexpensive imports from other countries, especially China. In Egypt, these imports may be priced considerably lower than locally produced ECG equipment, which may make it challenging for local makers to compete on price. Operating ECG equipment can be challenging in some areas of Egypt where there is limited access to dependable power. Manufacturers who want to increase their customer base in these regions may find this to be a major challenge.
Key Players
The control of Egypt's healthcare industry, including the purchase and selling of ECG equipment, falls under the purview of the Ministry of Health and Population (MOHP). Manufacturers, importers, and distributors of ECG devices are registered and licenced under the MOHP's supervision. ECG device standards in Egypt are established and upheld by the Egyptian Organization for Standardization and Quality Control (EOS). To make sure that ECG equipment complies with the required safety and quality standards, the EOS closely collaborates with the MOHP. In 2016, the Egyptian government imposed a Value Added Tax (VAT) of 14% on all products and services, including ECG equipment. All manufacturers and sellers of ECG equipment are vulnerable to this tax.
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
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 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
By Product Type (Revenue, USD Billion):
By End User (Revenue, USD Billion):
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The market is segmented by type and by the end user.
The Egypt ECG Equipment Market is studied from 2022-2030.
Wassenburg Medical, EMG-EP Technologies, Johnson & Johnson, Philipps Healthcare, Medtronic and Dexcom are the major companies operating in Egypt's ECG Equipment market.
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