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Diagnostic Imaging Devices - Nordics

Nordics

The Diagnostic Imaging Devices market market in the Nordics is anticipated to achieve a revenue of US$0.68bn in 2024.
It is forecasted that the revenue will experience a compound annual growth rate (CAGR) of 3.82% between 2024 and 2029, leading to a market volume of US$0.82bn by 2029.
When compared globally, the United States is expected to generate the highest revenue, amounting to US$11,930.00m in 2024.
The Nordic countries have been at the forefront of adopting advanced diagnostic imaging devices to improve patient care and outcomes.

Key regions: Germany, Japan, Netherlands, Spain, United States

Market

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Analyst Opinion

The Diagnostic Imaging Devices market in Nordics is experiencing steady growth due to increasing customer preferences for advanced medical imaging technologies.

Customer preferences: Customers in the Nordics are increasingly demanding diagnostic imaging devices that offer high-resolution images, faster scanning times, and improved patient comfort. They are also seeking devices that are portable and easy to use, allowing for greater flexibility in healthcare settings. Additionally, there is a growing preference for imaging devices that integrate with other healthcare systems, such as electronic medical records, to streamline workflows and improve patient outcomes.

Trends in the market: One of the key trends in the Diagnostic Imaging Devices market in Nordics is the adoption of digital imaging technologies. Digital imaging offers numerous advantages over traditional film-based imaging, including higher image quality, faster image acquisition and processing, and the ability to easily store and share images electronically. This trend is driven by the increasing availability of high-speed internet and advancements in image compression and transmission technologies. Another trend in the market is the growing demand for point-of-care imaging devices. These devices allow healthcare professionals to perform imaging procedures at the patient's bedside, eliminating the need for transportation to dedicated imaging facilities. This trend is particularly relevant in rural areas where access to healthcare facilities may be limited.

Local special circumstances: The Nordics region is known for its strong healthcare infrastructure and high healthcare expenditure per capita. This creates a favorable environment for the adoption of advanced diagnostic imaging devices. Additionally, the region has a high prevalence of chronic diseases, such as cardiovascular diseases and cancer, which require regular imaging for diagnosis and treatment monitoring. This further drives the demand for diagnostic imaging devices in the region.

Underlying macroeconomic factors: The Diagnostic Imaging Devices market in Nordics is also influenced by macroeconomic factors such as population demographics, healthcare policies, and technological advancements. The aging population in the region is increasing the demand for diagnostic imaging services, as elderly individuals are more likely to require medical imaging for age-related conditions. Furthermore, government initiatives to improve healthcare access and quality are driving investments in healthcare infrastructure, including the procurement of advanced diagnostic imaging devices. Technological advancements in imaging technologies, such as artificial intelligence and machine learning, are also shaping the market by enabling more accurate and efficient diagnosis. In conclusion, the Diagnostic Imaging Devices market in Nordics is witnessing growth due to customer preferences for advanced imaging technologies, such as digital imaging and point-of-care devices. The region's strong healthcare infrastructure, high healthcare expenditure, and prevalence of chronic diseases contribute to the market's development. Additionally, underlying macroeconomic factors such as population demographics, healthcare policies, and technological advancements further drive the market growth.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on medical devices and IVD revenues allocated to the country where the money is spent at manufacturer price levels excluding VAT.

Modeling approach / Market size:

Modeling employs a top-down approach with a bottom-up validation, using financial information of the key players by market. Market sizes are determined by a top-down approach, based on a specific rationale for each market market and allocated to the covered countries according to the global market shares. As a basis for evaluating markets, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare system, and regulations concerning medical products. Next, we use further relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare payer system, and regulations concerning medical products. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.