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MARKET OUTLOOK

A report by Triton Market Research insinuates that the ECG equipment market in Europe is likely to progress with a CAGR of 5.79% between the forecast years 2021-2028. The United Kingdom, Germany, France, Italy, Spain, Russia, and Rest of Europe together shape the market in this region.

Spain is known for having one of the best healthcare systems in the world, in terms of disease diagnosis & monitoring, adoption of advanced technologies, and overall healthcare services it provides. The usage of mobile devices across the country is phenomenal, with a rising number of individuals using mobile devices to track their everyday health conditions. Several R&D activities are also being performed to gauge the effectiveness of wireless ECG devices. Over the past couple of years, several research proposals on electrocardiogram (ECG) monitoring based on mobile platforms have been delivered. All these aforementioned factors are expected to drive the Spanish market’s growth over the forecast period.

CVDs pose a significant healthcare burden in the United Kingdom. According to an article, in 2019, the mortality rate from cardiovascular disease in the country was 255 deaths per 100,000 people. CVD affects nearly 7 million people in the UK, and is a significant cause of disability and death. The rising prevalence of CVD, along with the increased spending on healthcare, has boosted the demand for ECG equipment in the country. This will propel the growth of the UK market in the coming years.

COMPETITIVE OUTLOOK

Some of the players dominating the ECG equipment market include Bionet Co Ltd, CompuMed Inc, GE Healthcare, Mindray Medical International Limited, Siemens Healthineers AG, Hill Rom Holdings Inc, Medibiosense Ltd, and BioTelemetry Inc.