Thailand ECG Equipments Market Report 2022 to 2030

Thailand ECG Equipments Market Analysis

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The Thailand ECG Equipment Market is expected to witness growth from $11 Mn in 2022 to $19 Mn in 2030 with a CAGR of 7.64% for the forecasted year 2022-2030. In Thailand's healthcare system, telehealth and remote monitoring technologies are now being used more frequently as a result of the COVID-19 outbreak. The use of ECG equipment is expected to increase in the upcoming years as it is a crucial tool for the remote monitoring of patients with cardiac conditions. The market is segmented by product type and by the end user. Some key players in this market include Xovic, Meticuly, Infus Medical, Pacific Healthcare Thailand, Johnson & Johnson, Philipps Healthcare, Medtronic, GE Healthcare, and Nihon Kohden.

ID: IN10THMD008 CATEGORY: Medical Devices GEOGRAPHY: Thailand AUTHOR: Jigyasu Bhandari

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Thailand ECG Equipment Healthcare Market Executive Analysis

The Thailand ECG Equipment Market size is at around $11 Mn in 2022 and is projected to reach $19 Mn in 2030, exhibiting a CAGR of 7.64% during the forecast period. In Thailand, the total cost of healthcare is believed to be $25.3 billion. By 2026, costs are anticipated to rise to $47.9 billion, representing a compound annual growth rate of 6.6% over the previous ten years. The cost of healthcare as a percentage of GDP is likewise high, at 6.6%. Public health services receive about 13.3% of the overall money allocated by the Thai government.

In Thailand, a variety of cardiac diseases are diagnosed and treated using ECG equipment. ECGs are rapid, painless, and non-invasive ways to evaluate the electrical activity of the heart. They are a useful tool for checking for cardiac problems in patients and can be used to track the success of therapy. Patients with heart problems can be monitored remotely using ECG equipment. Patients who reside in rural places or who have trouble getting to medical institutions will find this to be especially helpful. Healthcare professionals can modify treatment plans as necessary with the help of remote monitoring, which can provide real-time information on a patient's cardiac activity. The risk that a patient will develop cardiac problems can be determined using ECG equipment. Patients who have risk factors for heart disease, such as high blood pressure, high cholesterol, and a family history of the condition, should pay particular attention to this. The treatment of patients with heart problems is guided by ECG equipment. It can be used to assess how well drugs and other treatments are working and to modify a patient's treatment plan as necessary.

Thailand ECG Equipment Market Analysis

Market Dynamics

Market Growth Drivers

In Thailand's healthcare system, telehealth and remote monitoring technologies are now being used more frequently as a result of the COVID-19 outbreak. The use of ECG equipment is expected to increase in the upcoming years as it is a crucial tool for the remote monitoring of patients with cardiac conditions. The need for these items in Thailand's healthcare system is being driven by the development of new ECG equipment with enhanced accuracy, sensitivity, and usability. Manufacturers are spending money on R&D to create ECG equipment with better diagnostic precision and better patient outcomes.

Market Restraints

In Thailand, there is intense competition for market share among various low-cost manufacturers in the market for ECG equipment. Higher-end manufacturers may find it challenging to stand apart from the competition and keep their businesses profitable as a result. Recent economic and political unrest in Thailand has the potential to disrupt the healthcare sector and affect the market for ECG equipment. The ability to overcome these obstacles and adjust to shifting market conditions is a requirement for manufacturers.

Competitive Landscape

Key Players

Xovic (TH)
Meticuly (TH)
Infus Medical (TH)
Pacific Healthcare Thailand (TH)
Johnson & Johnson
Medtronic
Philipps Healthcare
GE Healthcare
Nihon Kohden

Recent Notable Deals

May 2022: Global medical device manufacturer GE Healthcare joined together with Bangkok Dusit Medical Services, a top hospital chain in Thailand, to offer cutting-edge medical tools and services, such as ECG equipment. The alliance aims to provide access to modern medical equipment and raise the standard of medical care in Thailand.

Healthcare Policies and Regulatory Landscape

The manufacture, distribution, sale, and registration of medical devices in Thailand, including ECG equipment, are governed by the Medical Device Act of 2008. Before being imported, distributed, or sold in Thailand, ECG equipment must be registered with the Food and Drug Administration (FDA) of Thailand. ECG equipment is covered by a number of regulations that the Thai FDA has established. These regulations cover a wide range of topics, including quality control, labelling, advertising, and ensuring that medical devices—particularly ECG equipment—are high-quality, safe, and efficient. Thailand's medical device laws, which cover ECG equipment, are implemented and enforced by the Medical Device Control Division (MDCD). To ensure compliance with Thai FDA standards, the MDCD is also in charge of inspecting importers and manufacturers of medical devices.

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 the end user.

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

Meticuly, Infus Medical, Pacific Healthcare Thailand, Johnson & Johnson, Philipps Healthcare, Medtronic, GE Healthcare, and Nihon Kohden are the major companies operating in Thailand's ECG Equipment market.