UK ECG Equipments Market Report 2022 to 2030

UK ECG Equipments Market Analysis

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The UK ECG Equipment Market is expected to witness growth from $232 Mn in 2022 to $350 Mn in 2030 with a CAGR of 5.30% for the forecasted year 2022-2030. The main cause of mortality in the UK is cardiovascular disease, and as the population ages and people lead unhealthy lifestyles, the prevalence of these diseases is rising. As a consequence, there is an increasing need for ECG equipment that can be used to identify and track these conditions. The market is segmented by product type and by the end user. Some key players in this market include LivaNova, Win Health Medical, Johnson & Johnson, Philipps Healthcare, Medtronic, DSM N.V., Roche and Dexcom.

ID: IN10GBMD008 CATEGORY: Medical Devices GEOGRAPHY: UK AUTHOR: Jigyasu Bhandari

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UK ECG Equipment Healthcare Market Executive Analysis

The UK ECG Equipment Market size is at around $232 Mn in 2022 and is projected to reach $350 Mn in 2030, exhibiting a CAGR of 5.30% during the forecast period. A nominal increase of 7.4% over 2021's expenditures, the UK spent $345.68 billion on healthcare total in 2022. After adjusting for the impact of inflation on the overall economy, the real growth in total current healthcare expenditure in the UK increased from 10.0% in 2021 to 7.1% in 2022. As a percentage of GDP in the UK in 2022, healthcare spending was about 12%.

Cardiovascular diseases, a class of diseases that affect the heart and blood vessels, are one of the main causes of death in the UK. In the UK, 7.6 million individuals are estimated to have Coronary heart disease (CVD). There are roughly 3.5 million males and 3.1 million women in this group. In the UK, Arrhythmias, heart attacks, and heart disease are just a few of the conditions that ECGs can help identify. Healthcare professionals can spot anomalies that might point to a heart problem by examining the waveform of an ECG. ECGs can be used to track changes in the heart's performance over time. Patients with known cardiac conditions or those who are at risk for heart disease may find this helpful. ECGs can be used to evaluate the efficacy of heart disease treatments, including prescription drugs and surgical operations. Healthcare professionals can determine whether a treatment has been successful by comparing ECGs taken before and after the procedure.

UK ECG Equipment Market Analysis

Market Dynamics

Market Growth Drivers

The main cause of mortality in the UK is cardiovascular disease, and as the population ages and people lead unhealthy lifestyles, the prevalence of these diseases is rising. As a consequence, there is an increasing need for ECG equipment that can be used to identify and track these conditions. A growing number of people in the UK are using portable and handheld ECG monitors because of how convenient and simple they are to use. As healthcare delivery methods change, these devices are especially helpful for remote monitoring and telemedicine applications, which are driving the growth of the UK market for ECG equipment.

Market Restraints

In the UK, some healthcare professionals may find it difficult to implement ECG technology due to its high cost, especially in smaller clinics or hospitals with tighter budgets. ECG equipment is just one of many diagnostic tools used in cardiovascular care; other technologies, like echocardiography or stress testing, may be favoured by some healthcare professionals.

Competitive Landscape

Key Players

LivaNova (UK)
Win Health Medical (UK)
Johnson & Johnson
DarioHealth
Medtronic
Philipps Healthcare
Dexcom

Healthcare Policies and Regulatory Landscape

The Medicines and Healthcare Products Regulatory Agency (MHRA), which is in charge of ensuring that ECG equipment is safe and efficient for its intended use, regulates the market for ECG equipment in the UK. Pre-market approval is a process used by the MHRA for ECG equipment, and makers must show that their products satisfy certain safety and performance standards before they can be sold in the UK. Several healthcare policies, in addition to regulatory requirements, have an effect on the UK ECG equipment market. The National Health Service (NHS) Long-Term Plan, which outlines the government's objectives for healthcare over the next ten years, is one of the most important pieces of legislation. It was published in 2019. The strategy consists of a number of initiatives targeted at enhancing cardiovascular care, such as the creation of new models of treatment for patients with heart disease, increased investment in monitoring and diagnostic technology, and increased accessibility to cardiac rehabilitation services.

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 type and by the end user.

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

LiveNova, Win Health Medical, Johnson & Johnson, Philipps Healthcare, Medtronic, DSM N.V., Roche and Dexcom are the major companies operating in the UK ECG Equipment market.