Spain ECG Equipments Market Analysis

Spain ECG Equipments Market Analysis


$ 3999

Spain's ECG Equipment Market is expected to witness growth from $172 Mn in 2022 to $280 Mn in 2030 with a CAGR of 6.30% for the forecasted year 2022-30. As people in Spain become more conscious of the value of early detection and management of heart-related conditions, there is an increasing focus on preventive healthcare. Due to this, there is an increased need for ECG equipment that can be used to identify people at risk of getting heart disease. The market is segmented by product type and by the end user. Some key players in this market include Bioiberica, Regemat, Quimatryx, Johnson & Johnson, Philipps Healthcare, Medtronic, DSM N.V., Roche, and Dexcom.

ID: IN10ESMD008 CATEGORY: Medical Devices GEOGRAPHY: Spain AUTHOR: Jigyasu Bhandari

Buy Now

Spain ECG Equipment Healthcare Market Executive Analysis

Spain's ECG Equipment Market is expected to witness growth from $172 Mn in 2022 to $280 Mn in 2030 with a CAGR of 6.30% for the forecasted year 2022-30. In Spain, the annual expense of public healthcare is $96.46 billion, or $2,037.04 per resident. Prescription drug expenses make up about 13.25 billion of those totals. The amount is increased by $34.72 billion (or $733.85 per resident) annually for business healthcare. As a result, the annual expense of Spain's healthcare system is $131.17 billion.

The World Health Organization (WHO) reports that heart attacks and other cardiovascular diseases account for over 29% of all deaths in Spain, making them the country's highest fatalities. An estimated 3% of the population in Spain has experienced a heart attack, which has affected about 1.4 million individuals. In Spain, heart attacks and other CVDs account for about 217 fatalities out of every 100,000 people. In addition to monitoring and treating patients who have already had a heart attack, ECG equipment can be very useful in Spain for spotting and identifying heart attacks. Medical professionals can diagnose a heart attack quickly and precisely with the aid of ECG equipment, which can rapidly identify abnormalities in the electrical activity of the heart. This is critical because a patient's odds of survival and risk of permanent heart damage can both be improved the earlier a heart attack is diagnosed and treated. A patient's heart activity can be continuously tracked using ECG equipment, which enables medical experts to assess the effectiveness of treatment and make necessary adjustments. When a patient has already had a heart attack and is at risk for complications or further heart damage, this can be particularly crucial.

Spain ECG Equipment Market Analysis

Market Dynamics

Market Growth Drivers

As people in Spain become more conscious of the value of early detection and management of heart-related conditions, there is an increasing focus on preventive healthcare. Due to this, there is an increased need for ECG equipment that can be used to identify people at risk of getting heart disease. Patients from all over the globe travel to Spain for top-notch medical care because of the country's thriving medical tourism industry. Due to this, there is an increased need for innovative medical tools, such as ECG equipment, that can be used to provide diagnostic and tracking services to patients who are located abroad. Similar to many other developed nations, Spain has an ageing populace who are more susceptible to heat-related illnesses. Due to this, there is now more demand for ECG equipment for both monitoring and diagnostic reasons. In the upcoming years, it is anticipated that the demand for ECG devices will continue to rise due to the rising incidence of heart-related conditions.

Market Restraints

The high cost of advanced ECG technology in Spain might prevent it from being widely used in some circumstances. Additionally, the Spanish healthcare system's financial constraints might reduce the desire of healthcare professionals to invest in new, more costly technologies. While ECG equipment is a commonly used diagnostic instrument, other technologies, like echocardiography and cardiac MRI, can be used to identify and track conditions relating to the heart in Spain. Manufacturers of these alternative technologies could pose a threat to Spain's ECG device suppliers.

Competitive Landscape

Key Players

  • Bioiberica (ES)
  • Regemat (ES)
  • Quimatryx (ES)
  • Johnson & Johnson
  • DarioHealth
  • Medtronic
  • Philipps Healthcare
  • Dexcom

Healthcare Policies and Regulatory Landscape

ECG equipment used in medical applications must comply with the Medical Devices Regulation of the European Union, which requires makers to demonstrate their devices are effective and safe before they can be sold in Spain. Clinical trials of ECG devices must be carried out in Spain in accordance with the EU Clinical Trials Regulation, which specifies rules for their planning, execution, and reporting. The clinical and financial merits of different medical procedures and technologies are assessed in relation to the ECG equipment used in Spain's public healthcare system. The licencing and tracking of ECG equipment for medical applications are under the control of the Spanish Agency for Medicines and Medical Devices.

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

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”.

 

Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers, and researchers across countries through which we engage with local experts to gather key data points and assumptions about each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain a high level of accuracy and consistency. The market data is analyzed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, and market share as well as a segment-level analysis of the specific market. Our report includes precise, to-the-point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.

Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:

 

 

Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameters and micro indicators. The macro parameters include changes in government policies, demand and supply of the market, government intervention programs, and major market share. The micro indicators are GDP growth, market size, market volume, etc. We also understand nuances specific to each country like the US, Canada, India, Germany, etc., and have worked across 60+ countries and hence not only understand global trends but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. starting with the large overall market and segmenting different areas and the bottom-up approach i.e. starting with population and epidemiology and rolling up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach is mainly used for new product forecasting and the bottom-up approach is used for demand estimation of any product for different countries summed up to form the total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

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.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases, and company-level averages, etc.

We make sure to finalize the numbers in alignment with the market research. Firstly, our internal experts ensure thorough validation and checking to ensure accurate and precise analysis and then validation is also done using a multiple-data analysis model. Two-level validation is done and entails the finalization of the report scope and the way of representation pattern.

 

 

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analyzed and synthesized. The second series of interviews are done if necessary to check and validate. The future opportunities are analyzed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results is then, interpreted by considering the following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing the regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue/volume
  • ​Analyzing current needs and determining penetration to estimate the market

Insights: Our reports deliver actionable insights backed with supporting facts and figures to assist you in achieving exemplary growth. Our in-depth analyses are interspersed with relevant insights and statistics to offer an executive-level view of a given market. The description helps in correlating many minor factors affecting the market and their impact on the different segments within the market.

Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current, and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumption.

The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

To request a free sample copy of this report, please complete the form below.


We value your inquiry and offer free customization with every report to fulfil your exact research needs.

The market is segmented by type and by the end user.

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

Regemat, Quimatryx, Johnson & Johnson, Philipps Healthcare, Medtronic, DSM N.V., Roche and Dexcom are the major companies operating in Spain's ECG Equipment market.


This report addresses

  • Intelligent insights to take informed business decisions
  • 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
  • Comprehensive Market Research Report in PDF and PPT formats

Need more?

  • Ask our analyst how this study was put together to learn more
  • Discuss additional requirements as part of the free customisation
  • Add more countries or regions to the scope 
  • Get answers to specific business questions 
  • Develop the business case to launch the product
  • Find out how this report may influence your business revenue
Last updated on: 20 October 2023
Updated by: Jay Dalwadi

Related reports (by category)


Related reports (by geography)


subscribe to our newsletter
up