Diagnostic Imaging Devices - Sweden

The Diagnostic Imaging Devices market market in Sweden is anticipated to witness a substantial growth in revenue, with projections indicating a staggering figure of US$189.10m in 2024.
Moreover, this market is expected to exhibit a promising annual growth rate (CAGR 2024-2029) of 4.56%, leading to a substantial market volume of US$236.30m by the year 2029.
It is worth noting that, in a global context, the United States is projected to generate the highest revenue in this market, amounting to US$11.93bn in the year 2024.
Sweden's advanced healthcare system and focus on innovation have led to a high demand for state-of-the-art diagnostic imaging devices in the medical technology market.

Definition:
The market covers diagnostic imaging devices such as X-ray systems, ultrasound systems, computed tomography scanners, Magnetic resonance imaging (MRT) systems, and related components.

Additional information:
Market values represent revenues paid to primary vendors at manufacturer price level either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G). Revenues are allocated to the country where the money is spent.

Company examples: Siemens Healthineers, General Electric, Philips, Fujifilm Holdings. Further information on the key players can be found in the Market Shares boxes.

X-ray systems
Computed tomography (CT) scanners
Magnetic resonance imaging (MRT) systems
Positron emission tomography (PET) scanners

Non-imaging diagnostics
In vitro diagnostics (IVD)

The Diagnostic Imaging Devices market in Sweden is experiencing steady growth due to several factors such as customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Sweden play a significant role in the development of the Diagnostic Imaging Devices market. Swedish customers value high-quality healthcare services and have a strong preference for advanced medical technologies. They prioritize accurate and efficient diagnoses, which has led to an increased demand for Diagnostic Imaging Devices. Additionally, Swedish customers are increasingly conscious of radiation exposure and prefer devices that minimize radiation while maintaining diagnostic accuracy. Trends in the market also contribute to the growth of the Diagnostic Imaging Devices market in Sweden. One notable trend is the shift towards digital imaging technologies. Digital imaging offers several advantages over traditional film-based imaging, including faster image acquisition and processing, improved image quality, and easier data storage and sharing. This trend has led to an increased adoption of digital imaging devices, such as computed tomography (CT) scanners and magnetic resonance imaging (MRI) machines, in Swedish healthcare facilities. Another trend in the market is the integration of artificial intelligence (AI) technology in Diagnostic Imaging Devices. AI algorithms can analyze medical images and assist healthcare professionals in making accurate diagnoses. This trend has gained traction in Sweden as it enhances the efficiency and accuracy of diagnostic processes. Swedish healthcare providers are increasingly investing in AI-enabled imaging devices to improve patient outcomes and optimize resource utilization. Local special circumstances in Sweden also contribute to the development of the Diagnostic Imaging Devices market. Sweden has a well-established healthcare system that prioritizes accessibility and quality of care. The government invests heavily in healthcare infrastructure and technology, creating a favorable environment for the adoption of Diagnostic Imaging Devices. Additionally, Sweden has a high healthcare expenditure per capita, indicating a strong financial capacity to invest in advanced medical technologies. Underlying macroeconomic factors further support the growth of the Diagnostic Imaging Devices market in Sweden. The country has a stable economy with a high GDP per capita, enabling healthcare facilities to invest in expensive medical equipment. Furthermore, an aging population and increasing prevalence of chronic diseases create a higher demand for diagnostic imaging services. As a result, healthcare providers in Sweden are expanding their imaging capabilities to meet the growing healthcare needs of the population. In conclusion, the Diagnostic Imaging Devices market in Sweden is developing due to customer preferences for high-quality healthcare services and advanced medical technologies, trends towards digital imaging and AI integration, local special circumstances such as a well-established healthcare system and high healthcare expenditure, and underlying macroeconomic factors such as a stable economy and an aging population. These factors contribute to the steady growth of the market and the increasing adoption of Diagnostic Imaging Devices in Swedish healthcare facilities.

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

Medical technology plays a role in the lives of everyone. It includes most of all, medical devices which simplify the prevention, diagnosis, and treatment of diseases and illnesses. The most well-known medical technology products are, among others, pacemakers, imaging instruments, dialysis machines, and implants. The global medical technology industry was worth over 567 billion U.S. dollars annually. Established centers of this industry include North America and Western Europe. The United States is home to the world’s largest medical technology companies. As of 2022, Abbott Laboratories had the largest global revenue at over 31.2 billion U.S. dollars. The main focus of devices manufactured by the Chicago-based company are diagnostics, cardiovascular, and diabetes care. Two other medtech companies that round off the top three largest companies –Medtronic and Johnson & Johnson – are both based in the United States. Although, industry trends show that Asia, and in particular China, is about to play a more prominent role in the years to come.