Belgium ECG Equipments Market Report 2022 to 2030

Belgium ECG Equipments Market Analysis

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Belgium's ECG Equipment Market is expected to witness growth from $20 Mn in 2022 to $34 Mn in 2030 with a CAGR of 7.30% for the forecasted year 2022-2030. Heart conditions such as coronary artery disease, rhythm disorders, and heart failure are very common in Belgium. Due to this, there is now more demand for ECG equipment as a diagnostic tool, which is anticipated to fuel market expansion. The market is segmented by product type and by the end user. Some key players in this market include Trasis, Acertys Healthcare, Johnson & Johnson, Philipps Healthcare, Medtronic, GE Healthcare, and Nihon Kohden.

ID: IN10BEMD008 CATEGORY: Medical Devices GEOGRAPHY: Belgium AUTHOR: Jigyasu Bhandari

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Belgium ECG Equipment Healthcare Market Executive Analysis

Belgium's ECG Equipment Market is at around $20 Mn in 2022 and is projected to reach $34 Mn in 2030, exhibiting a CAGR of 7.30% during the forecast period. In Belgium, 0.8% of GDP is being allocated to the management and protection of the public healthcare system in 2022. Belgium's overall health expenditure as a proportion of GDP climbed from 11.28% in 2018 to 13.2% in 2023. The aggregate expenditures are greater than the EU average. The total amount spent by the public sector over the past ten years has been steadily rising and has typically maintained pace with levels in the European Union. (EU).

In Belgium, ECG equipment is frequently used to track the heart's function throughout time. For instance, ECG testing may be routinely performed on individuals with cardiac disorders to evaluate changes in their heart function and assess the efficacy of treatment. ECG testing often yields data rapidly, enabling medical professionals to immediately identify and treat cardiac issues. This may be particularly crucial in urgent circumstances, like a heart attack. ECG devices come in a variety of shapes and sizes, ranging from big hospital-grade machines to small gadgets that may be used in a clinic or even in a patient's home. It can therefore be applied in a range of healthcare settings, making it a flexible tool. An ECG is a non-invasive diagnostic technique, which means that no incisions or external instrumentation are necessary. As a result, patients should expect a generally painless and safe process.

Belgium ECG Equipment Market Analysis

Market Dynamics

Market Growth Drivers

Heart conditions such as coronary artery disease, rhythm disorders, and heart failure are very common in Belgium. Due to this, there is now more demand for ECG equipment as a diagnostic tool, which is anticipated to fuel market expansion. With technological breakthroughs like wireless ECG devices, wearable ECG monitors, and cloud-based ECG data management systems, the market for ECG equipment is rapidly changing. The market is anticipated to rise as a result of these technological developments as healthcare professionals look for diagnostic instruments that are more accurate and efficient. The Belgian government has put in place a number of programmes to encourage the use of medical technology, such as ECG equipment. These programmes, which aim to enhance patient safety and healthcare results, are anticipated to fuel market expansion.

Market Restraints

Belgium's market for ECG equipment is extremely competitive, with a number of large players present. Smaller firms may find it difficult to expand as a result, especially if they cannot compete on either price or quality. ECG equipment can be pricey, especially when compared to the newest equipment and innovations. This may prevent some healthcare professionals or those with tighter resources from implementing these devices. The adoption of ECG technology may be constrained by the lack of awareness among some healthcare professionals and patients of its advantages.

Competitive Landscape

Key Players

Trasis (BE)
Acertys Healthcare (BE)
Johnson & Johnson
Medtronic
Philipps Healthcare
GE Healthcare
Nihon Kohden

Recent Notable Deals

2021: The UZ Brussel Hospital in Belgium and Royal Philips announced a partnership in 2021 to create a new telehealth platform for remote cardiac monitoring. The platform makes use of Philips' ECG technology to provide remote ECG testing for patients, with the data being sent to medical professionals for evaluation.

Healthcare Policies and Regulatory Landscape

The Federal Agency for Medicines and Health Products (FAMHP) oversees ECG equipment in Belgium. The FAMHP is in charge of making sure that ECG equipment complies with legal requirements for marketing and that it meets the necessary criteria for performance and safety. The Medical Device Regulation (MDR), which outlines the specifications for the design, production, and marketing of medical devices across the European Union, governs the regulatory environment for medical devices in Belgium. According to the MDR, all medical devices, including ECG equipment, must be registered with the appropriate national authorities and subject to a conformity assessment to confirm that they adhere to the mandated requirements.

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
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 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

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.

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The market is segmented by product type and by end user.

The Belgium ECG Equipment Market is studied from 2022-2030.

Trasis, Acertys Healthcare, Johnson & Johnson, Philipps Healthcare, Medtronic, GE Healthcare, Nihon Kohden are the major companies operating in Belgium ECG Equipment market.