General & Plastic Surgery Devices - Iceland

The projected revenue in the General & Plastic Surgery Devices market market in Iceland is estimated to reach US$6.86m in 2024.
It is expected to exhibit an annual growth rate (CAGR 2024-2029) of 6.55%, leading to a market volume of US$9.42m by 2029.
When compared globally, the United States is anticipated to generate the highest revenue, reaching US$9.84bn in 2024.
Iceland's growing demand for advanced plastic surgery devices reflects the country's commitment to offering cutting-edge medical technology.

Definition:
The General & Plastic Surgery Devices market represents medical devices designed for general and plastic surgery procedures, such as disposable surgical supplies, open surgery instruments, minimally invasive surgery instruments.

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: Medtronic, Johnson & Johnson, Becton Dickinson, Conmed Corporation. Further information on the key players can be found in the Market Shares boxes.

Disposable surgical supplies
Open surgery instruments
Minimally invasive surgery instruments

Services (i.e., treatment expenses)
Blood and transplants derived from the human body
In vitro diagnostics
Diagnostic imaging

The General & Plastic Surgery Devices market in Iceland is experiencing steady growth and development, driven by customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Iceland are playing a significant role in the development of the General & Plastic Surgery Devices market. Icelandic consumers are increasingly seeking cosmetic procedures and surgeries to enhance their appearance and boost their self-esteem. The growing influence of social media and the desire to achieve certain beauty standards are driving the demand for plastic surgery devices in the country. Additionally, the aging population in Iceland is also contributing to the demand for general surgery devices, as there is a higher prevalence of age-related health conditions that require surgical interventions. Trends in the market are also shaping the development of the General & Plastic Surgery Devices market in Iceland. Technological advancements in surgical devices have made procedures safer, more precise, and less invasive, leading to increased adoption by healthcare professionals. The availability of innovative devices such as minimally invasive surgical tools, robotic-assisted surgical systems, and advanced imaging technologies has improved patient outcomes and reduced recovery times. These trends are driving the demand for General & Plastic Surgery Devices in Iceland as healthcare providers strive to offer the latest and most effective treatments to their patients. Local special circumstances in Iceland are contributing to the growth of the General & Plastic Surgery Devices market. The country has a well-developed healthcare system that provides universal access to healthcare services. The government's focus on improving healthcare infrastructure and investing in medical technologies has created a favorable environment for the adoption of General & Plastic Surgery Devices. Additionally, Iceland's small population allows for close collaboration between healthcare providers, device manufacturers, and regulatory authorities, facilitating the introduction of new devices to the market. Underlying macroeconomic factors also play a role in the development of the General & Plastic Surgery Devices market in Iceland. The country has a high per capita income and a strong economy, allowing individuals to afford cosmetic procedures and surgeries. The availability of private health insurance coverage for elective surgeries further supports the demand for General & Plastic Surgery Devices. Moreover, Iceland's tourism industry, which attracts a significant number of visitors each year, contributes to the growth of the market as some tourists seek cosmetic procedures during their stay. In conclusion, the General & Plastic Surgery Devices market in Iceland is experiencing growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The increasing demand for cosmetic procedures, advancements in surgical devices, favorable healthcare infrastructure, and strong economy are all contributing to the expansion of the market.

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.