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MARKET OUTLOOK

Triton Market Research has stated that the ECG equipment market in the Middle East and Africa is likely to develop with a CAGR of 5.70% in the projected years from 2021 to 2028. South Africa, Turkey, the United Arab Emirates, Saudi Arabia, and Rest of MEA together form the market in this region.

The rising adoption of advanced cardiovascular solutions in the UAE is boosting the demand for ECG equipment. For instance, last year, the Ministry of Health and Prevention, showcased an AI-based device to monitor cardiac arrhythmia (irregular heartbeat), during Arab Health 2020, in collaboration with Pure Health. 

Moreover, various partnerships and agreements have taken place, which has helped in the expansion of the market. For example: “Unison,” a public-private partnership between the UAE’s Ministry of Health (MOH), Abu Dhabi International Medical Services (ADI), and GE Healthcare, aims to develop better healthcare infrastructure. These factors are anticipated to boost the growth of the ECG equipment market in the United Arab Emirates over the forecast period.

On the other hand, the regulatory network in Rest of Middle East & Africa is underdeveloped. This is because only a small percentage of the population can afford health insurance, leading to low reimbursement policies. However, mobile health applications have become very important for patients, as well as for service providers, given their ease of use. The use of mobile cardiac telemetry is rapidly rising in these nations, owing to the ease of access. This has helped increase public awareness regarding diseases and also influenced the demand for effective treatment. In addition, funds by the government to develop the healthcare system and other supportive initiatives are contributing to the growth of the market in this region.

COMPETITIVE OUTLOOK

The prominent companies operating in the ECG equipment market are GE Healthcare, Siemens Healthineers AG, Mindray Medical International Limited, Spacelabs Healthcare (subsidiary of OSI Systems Inc), Zoll Medical Corporation (acquired by Asahi Kasei), McKesson Corporation, Nihon Kohden Corporation, and Philips Healthcare.