Romania ECG Equipments Market Report 2022 to 2030

Romania ECG Equipments Market Analysis

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Romania's ECG Equipment Market is expected to grow from $26 Mn in 2022 to $46 Mn in 2030 with a CAGR of 7.55% for the forecasted year 2022-30. Heart disease is more prevalent as people age in Romania, which has an aging population. The need for healthcare providers to better diagnose and treat cardiac disease in elderly individuals is anticipated to increase demand for ECG equipment. The market is segmented by product type and by end user. Some key players in this market include BioSintex, PRION POCT, Johnson & Johnson, Philipps Healthcare, Medtronic, GE Healthcare, and Nihon Kohden.

ID: IN10ROMD008 CATEGORY: Medical Devices GEOGRAPHY: Romania AUTHOR: Jigyasu Bhandari

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Romania ECG Equipment Healthcare Market Executive Analysis

Romania's ECG Equipment Market is expected to grow from $26 Mn in 2022 to $46 Mn in 2030 with a CAGR of 7.55% for the forecasted year 2022-30. Romania had one of the lowest per capita healthcare costs in the EU in 2022 at $17.3 billion, or $902 per person and 5.9 percent of GDP. The governing coalition wants to stop healthcare from being privatized and increase public health spending by at least 0.5 percent of GDP annually using $5.9 billion from the National Recovery and Resilience Plan and the Health Operational Programme.

In 2022, heart disease caused 60,828 deaths in Romania, or 43.3% of all fatalities. Of these deaths, 15,656 were attributable to ischemic heart disease, which includes heart attacks. A variety of cardiac problems, including coronary artery disease, myocardial infarction, and heart failure, can be diagnosed with ECG equipment. ECG equipment can precisely identify aberrant cardiac rhythms, which aids medical professionals in classifying and grading heart problems. ECG technology is also used to track the evolution of heart health. For instance, it may be necessary to perform routine ECG checks on individuals with established heart issues to make sure that their condition is stable and not getting worse. ECG testing is an excellent tool for patients of all ages, including children, as it is a non-invasive and painless technique.

Romania ECG Equipment Market Analysis

Market Dynamics

Market Growth Drivers

Heart disease is more prevalent as people age in Romania, which has an ageing population. The need for healthcare providers to better diagnose and treat cardiac disease in elderly individuals is anticipated to increase demand for ECG equipment. The ability to diagnose and monitor heart diseases with ECG equipment has improved thanks to technological advancements in the field. Given that healthcare professionals want to improve patient care and results, this is anticipated to result in a rise in the demand for ECG equipment. The major cause of mortality in Romania is cardiovascular disease, primarily heart disease. ECG equipment demand is being fueled by the increasing prevalence of cardiac disease as medical professionals try to better diagnose and treat these illnesses.

Market Restraints

In Romania, manufacturers of ECG equipment must obtain regulatory permits, which can be expensive and time-consuming. This can restrict the ability of new companies to enter the market. Healthcare professionals may find it difficult to use ECG equipment because of the cost, especially in smaller clinics and rural locations. It's possible that patients and medical professionals are not fully informed about the advantages and uses of ECG equipment. This might reduce the need for ECG equipment and its uptake by healthcare professionals.

Competitive Landscape

Key Players

BioSintex (RO)
PRION POCT (RO)
Johnson & Johnson
Medtronic
Philipps Healthcare
GE Healthcare
Nihon Kohden

Healthcare Policies and Regulatory Landscape

The Ministry of Health oversees the Romanian healthcare system and establishes policies and rules regarding medical equipment, including ECG equipment. The National Agency for Medicines and Medical Devices (ANMDM), which is in charge of ensuring the efficacy and safety of medical devices before they are put on the market, is in charge of overseeing medical device regulation in Romania. To market what they sell in Romania, ECG equipment manufacturers must adhere to the EU's Medical Device Regulation (MDR). The MDR establishes standards for the performance and safety of medical devices, and producers are required to get a CE mark to prove conformity. The use of ECG equipment by healthcare professionals also necessitates adherence to laws protecting patient privacy and data security. The General Data Protection Regulation (GDPR), which governs the processing of personal data within the EU, protects patient data in Romania.

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

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How Do We Get It?

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

1. Secondary Research

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Analyzing historical proprietary data collected from multiple projects.
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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.