Turkey ECG Equipments Market Analysis

Turkey ECG Equipments Market Analysis

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Turkey's ECG Equipment Market is expected to witness growth from $71 Mn in 2022 to $130 Mn in 2030 with a CAGR of 7.80% for the forecasted year 2022-30. The demand for healthcare services and ECG equipment is rising in Turkey as a result of the country's older population. The market is segmented by product type and by end user. Some key players in this market include Ersamed Medikal, Acibadem Labmed, Megasan Medikal, Johnson & Johnson, Philipps Healthcare, Medtronic, GE Healthcare, and Nihon Kohden.

ID: IN10TRMD008 CATEGORY: Medical Devices GEOGRAPHY: Turkey AUTHOR: Jigyasu Bhandari

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Turkey ECG Equipment Healthcare Market Executive Analysis

Turkey's ECG Equipment Market is expected to witness growth from $71 Mn in 2022 to $130 Mn in 2030 with a CAGR of 7.80% for the forecasted year 2022-30. Turkish healthcare spending totaled $14.38 billion in 2022, a 24.3% increase over 2019. The total amount spent on health increased by 26.3% to $10.48 billion. Spending on healthcare in the private sector was anticipated to reach $2.70 billion, a rise of 17.3%. In contrast to the private sector, which accounted for 20.8% of health expenses in 2020, the federal government accounted for 79.2% of them.

In Turkey, there were over 100,000 occurrences of acute myocardial infarction, also known as heart attacks, annually in 2021. Turkey has a 20% prevalence of cardiovascular disease. Electrocardiography (ECG) equipment, often known as ECG equipment, is frequently used in Turkey to diagnose and track a variety of heart disorders. To diagnose heart diseases such as arrhythmias, myocardial infarction, and heart failure, ECG equipment is frequently employed. The apparatus can identify damaged heart muscle, pick up on aberrant cardiac rhythms, and aid in the diagnosis of congenital heart abnormalities. Rapid readings from ECG devices are helpful in emergencies. As a result of the equipment's speedy diagnosis of diseases like heart attacks, medical personnel can start treating patients right away. ECG equipment comes in a variety of shapes and sizes, including portable and handheld ones. This makes it simple to utilize in a variety of situations, such as clinics, hospitals, and ambulances.

Turkey ECG Equipment Market Analysis

Market Dynamics

Market Growth Drivers

The demand for healthcare services and ECG equipment is rising in Turkey as a result of the country's older population. Heart diseases are more common in the elderly, which raises the need for ECG equipment. The Turkish government has put in place a number of initiatives to enhance the healthcare system in the nation. These programmes include promoting preventative healthcare, building more hospitals and clinics, and investing in the infrastructure of the healthcare industry. As a result, there will probably be a rise in the demand for ECG equipment. The Turkish government has been spending more money on healthcare recently, which is probably going to raise demand for ECG equipment. Hospitals and clinics are likely to invest in new medical gadgets, such as ECG equipment, as healthcare spending rises.

Market Restraints

In Turkey, several well-known brands already control a large portion of the ECG equipment industry. Gaining momentum and increasing their market share may be difficult for new competitors. The use of ECG equipment in Turkey may be constrained by the fact that some medical practitioners there may not be aware of its advantages. To promote knowledge and use of ECG equipment, manufacturers may need to make investments in educational and training initiatives.

Competitive Landscape

Key Players

  • Ersamed Medikal (TR)
  • Acibadem Labmed (TR)
  • Megasan Medikal (TR)
  • Johnson & Johnson
  • Medtronic
  • Philipps Healthcare
  • GE Healthcare
  • Nihon Kohden

Healthcare Policies and Regulatory Landscape

The Turkish Ministry of Health (MoH) and the Turkish Medicines and Medical Devices Agency (TTCK) are in charge of regulating the ECG equipment healthcare system in Turkey. The main law that controls the approval, registration, and distribution of medical devices, including ECG equipment, in Turkey, is the Medical Device Regulation (MDR). The MDR, which is based on the Medical Device Regulation (EU MDR) of the European Union, is implemented by the TTCK. Before they may be sold in Turkey, all medical products, including ECG equipment, must pass a conformity evaluation. The evaluation is done by a Notified Body that has been granted permission by the TTCK to carry out the evaluation and grant the CE mark, which denotes compliance with the MDR.

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: 12 February 2024
Updated by: Riya Doshi

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