< Key Hightlight >

MARKET OUTLOOK

Triton’s research report puts forth that the Latin America ECG equipment market would progress with a CAGR of 5.41% over the forecasting years from 2021 to 2028. Brazil, Mexico, and Rest of Latin America together make the market in this region.

Supportive regulations by the government to commercialize medical devices in the region are expected to aid the growth of the market here. For instance, most Latin American nations only require the US FDA or CE mark approval to file for marketing approvals. High investments by key industry players in this emerging economy, as well as the presence of a large target patient population and well-equipped hospitals in Latin America, are expected to drive the growth of its ECG equipment market in the coming years.

The burden of cardiovascular diseases is increasing rapidly in Mexico, the country. The government here has initiated several programs, such as the National Institute of Health “Heart Truth Campaign,” the Latina Preventive Heart Disease Program, and “Go Red for Women” campaign, in order to raise awareness of CVD, particularly among Mexican women. Thus, the rising prevalence of cardiovascular diseases, supportive government initiatives, and varied reimbursement policies are fueling the demand for ECG equipment in Mexico, in turn favoring the growth of the market studied.

COMPETITIVE OUTLOOK

The eminent names in the ECG equipment market are Medibiosense Ltd, McKesson Corporation, Schiller AG, Spacelabs Healthcare (subsidiary of OSI Systems Inc), Nihon Kohden Corporation, Siemens Healthineers AG, Hill Rom Holdings Inc, and BioTelemetry Inc.