South Africa ECG Equipments Market Analysis

South Africa ECG Equipments Market Analysis

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South Africa's ECG Equipment Market is expected to witness growth from $58 Mn in 2022 to $111 Mn in 2030 with a CAGR of 8.53% for the forecasted year 2022-30. In South Africa, diagnosis and monitoring of heart problems are now more accurate and efficient because of the development of new and sophisticated ECG equipment. The market has expanded as a result of the introduction of more portable and user-friendly ECG equipment. The market is segmented by product type and by end user. Some key players in this market include NuAngle Medical, Tekmed, Johnson & Johnson, Philipps Healthcare, Medtronic, GE Healthcare, and Nihon Kohden.

ID: IN10ZAMD008 CATEGORY: Medical Devices GEOGRAPHY: South Africa AUTHOR: Jigyasu Bhandari

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South Africa ECG Equipment Healthcare Market Executive Analysis

South Africa's ECG Equipment Market is expected to witness growth from $58 Mn in 2022 to $111 Mn in 2030 with a CAGR of 8.53% for the forecasted year 2022-30.. South Africa spent $621 per person on healthcare in 2021. Health spending per person in South Africa was falling on average by 1.28% annually between 2015 and 2021.

In South Africa, after HIV/AIDS, CVD is the second most common cause of mortality. 18.3% of all deaths in the nation occurred as a result of it in 2022. With an estimated 6.3 million people (or roughly 12% of the population) having CVD, the overall incidence of the illness is significant in South Africa. With 74,000 incidents annually, the incidence of heart attacks, commonly known as myocardial infarctions, is similarly high in South Africa. A patient's risk of getting cardiovascular disease can be determined using ECG equipment. An ECG can assist medical professionals in identifying people who may be more susceptible to developing heart disease by detecting anomalies in the electrical activity of the heart. In both public and private healthcare settings, ECG equipment is commonly accessible in South Africa. In South Africa, portable ECG devices are becoming more and more common, making it simple and practical to monitor heart activity outside of medical institutions.

South Africa ECG Equipment Market Analysis

Market Dynamics

Market Growth Drivers

The ageing populace of South Africa is driving up demand for medical services and ECG equipment in that nation. The necessity for ECG equipment is increased by the fact that heart illnesses are more prevalent among the elderly. Numerous programmes have been implemented by the South African government to improve the country's healthcare system. These initiatives include encouraging preventative healthcare, expanding hospitals and clinics, and boosting the industry's infrastructure. As a result, the need for ECG equipment is likely to increase. In South Africa, diagnosis and monitoring of heart problems are now more accurate and efficient because of the development of new and sophisticated ECG equipment. The market has expanded as a result of the introduction of more portable and user-friendly ECG equipment.

Market Restraints

ECG equipment can be expensive in South Africa, which may restrict access to these tools for patients and medical professionals in low-income areas of the country. The ECG equipment market is already largely under the control of a few well-known brands. For new competitors, gaining traction and expanding their market share could be challenging. The fact that certain medical professionals in South Africa might not be aware of its benefits may limit the adoption of ECG equipment there. Manufacturers may need to invest in education and training activities to encourage understanding of and usage of ECG equipment.

Competitive Landscape

Key Players

  • NuAngle Medical (SA)
  • Tekmed (SA)
  • Johnson & Johnson
  • Medtronic
  • Philipps Healthcare
  • GE Healthcare
  • Nihon Kohden

Healthcare Policies and Regulatory Landscape

In South Africa, the manufacture, import, export, sale, and distribution of medications and medical devices, including ECG equipment, are governed by the Medications and Related Substances Act (No. 101 of 1965). It calls for ECG equipment to be registered with the South African Health Products Regulatory Authority (SAHPRA) and to meet specific safety and effectiveness standards. A statutory organisation called the Health Professions Council of South Africa (HPCSA) is in charge of policing the medical fields in that country. It establishes best practices for healthcare providers and confirms their suitability for the job. All healthcare professionals who utilise ECG equipment are required to be registered and licenced with the HPCSA. The international standard ISO 13485 outlines the specifications for a quality control system for medical equipment. The ISO 13485 standard is a requirement for ECG equipment producers to ensure that their products meet strict quality and safety 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

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  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

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Last updated on: 13 October 2023

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