Endoscopic Devices - Norway | Statista Market Forecast

Revenue in the Endoscopic Devices market market in Norway is anticipated to reach US$100.50m in 2024.
This revenue is projected to exhibit an annual growth rate (CAGR 2024-2029) of 5.62%, leading to a market volume of US$132.10m by 2029.
In a global context, the majority of revenue is expected to be generated the United States, with figures reaching US$10.39bn in 2024.
Norway's investment in advanced endoscopic devices is driven by its commitment to enhancing healthcare quality and improving patient outcomes in minimally invasive procedures.

Definition:
The Endoscopic Devices market, a medical technology market, includes the sale of endoscopic devices. Endoscopy involves the use of an endoscope to examine the inside of a hollow organ or body cavity. The market includes various types of endoscopes, such as gastroscopes, laparoscopes, bronchoscopes, and colonoscopes.

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), and governments (B2G). Revenues are allocated to the country where the money is spent.

Key players in the market include Olympus Corporation, Boston Scientific Corporation, and Stryker Corporation. Further information on the key players can be found in the Market Shares boxes.

Endoscopic devices
Implants such as stents

pharmaceuticals for endoscopic procedure

The Endoscopic Devices Market in Norway is experiencing moderate growth, influenced by factors such as advancements in minimally invasive procedures, increasing prevalence of chronic diseases, and heightened investment in healthcare infrastructure and technology.

Customer preferences: In Norway, there is a growing preference for advanced endoscopic techniques that offer shorter recovery times and reduced hospital stays, reflecting a cultural inclination towards efficient healthcare solutions. Additionally, the aging population is driving demand for these minimally invasive procedures, as older adults seek safer treatment options for chronic conditions. Furthermore, increased awareness of health and wellness is prompting patients to actively seek out innovative endoscopic treatments, aligning with a broader trend of patient empowerment in healthcare decisions.

Trends in the market: In Norway, the Endoscopic Devices Market is experiencing a notable shift towards advanced imaging technologies that enhance precision in minimally invasive procedures. This trend is significant as it not only improves patient outcomes but also reduces the overall cost of healthcare by decreasing the need for extended hospital stays. Additionally, there is a rising emphasis on training healthcare professionals in these innovative techniques, ensuring that they are equipped to meet the growing demand. For industry stakeholders, these developments present opportunities for investment in technology and training, while also necessitating adaptation to evolving regulatory standards and patient expectations.

Local special circumstances: In Norway, the Endoscopic Devices Market is shaped by a strong emphasis on patient-centered care and a well-established healthcare system that prioritizes innovation. The country's geographical layout, with remote areas often requiring specialized medical services, drives demand for minimally invasive procedures that can be performed closer to home. Additionally, Norway's strict regulatory framework ensures high safety and efficacy standards, influencing the adoption of advanced endoscopic technologies. Cultural factors, such as a high level of health literacy and public trust in medical professionals, further support the acceptance and integration of these devices into clinical practice.

Underlying macroeconomic factors: The Endoscopic Devices Market in Norway is significantly influenced by macroeconomic factors such as national economic stability, healthcare funding, and demographic trends. Norway’s robust economy and high GDP per capita enable substantial investment in healthcare technologies, fostering innovation in endoscopic devices. Additionally, the government’s commitment to universal healthcare and fiscal policies that prioritize health expenditure enhance accessibility to advanced medical technologies. Global economic trends, including supply chain dynamics and increased competition, also play a role, as they affect pricing and availability of endoscopic devices. Furthermore, an aging population in Norway drives demand for minimally invasive surgical options, aligning with a growing preference for patient-centered care.

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.