Spain ECG Equipments Market Analysis

Spain ECG Equipments Market Analysis

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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

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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 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

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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

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Last updated on: 20 October 2023
Updated by: Jay Dalwadi

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