Other Medical Devices - Ireland

Ireland

Highlights

In Ireland, the projected revenue for the Other Medical Devices market market is expected to reach US$341.50m by 2024.
It is anticipated that the revenue will exhibit an annual growth rate (CAGR 2024-2029) of 2.77%, leading to a market volume of US$391.60m by 2029.
When compared globally, the United States is forecasted to generate the highest revenue, amounting to US$58.90bn in 2024.
Ireland is emerging as a hub for innovative medical device startups, attracting global investments and fostering technological advancements in the Other Medical Devices market.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Other Medical Devices market in Ireland is experiencing significant growth due to several factors. Customer preferences for innovative and advanced medical devices, along with the increasing demand for personalized healthcare solutions, are driving the market forward. Additionally, local special circumstances such as a well-developed healthcare infrastructure and a supportive regulatory environment contribute to the market's growth. Furthermore, underlying macroeconomic factors like a growing aging population and increasing healthcare expenditure also play a role in the market's development. Customer preferences in the Other Medical Devices market in Ireland are shifting towards innovative and advanced medical devices. Patients and healthcare professionals are increasingly seeking solutions that provide accurate and efficient diagnostics, monitoring, and treatment options. This preference for advanced medical devices is driven by the desire for better patient outcomes and improved quality of care. Additionally, there is a growing demand for personalized healthcare solutions that cater to individual patient needs. This includes devices that can be customized based on specific medical conditions or patient characteristics. Trends in the market indicate a growing adoption of digital health technologies and connected medical devices. The integration of technology and healthcare is revolutionizing the way medical devices are used and managed. Digital health technologies, such as wearable devices and remote monitoring systems, are enabling patients to actively participate in their own healthcare management. These devices provide real-time data and feedback, allowing healthcare professionals to make more informed decisions and provide personalized care. Furthermore, the increasing connectivity of medical devices allows for seamless data sharing and collaboration between healthcare providers, leading to improved patient outcomes. The Other Medical Devices market in Ireland benefits from local special circumstances that contribute to its growth. Ireland has a well-developed healthcare infrastructure, with advanced hospitals, research facilities, and a skilled healthcare workforce. This infrastructure supports the adoption and utilization of medical devices in the country. Additionally, Ireland has a supportive regulatory environment that encourages innovation and facilitates the timely approval of medical devices. The country's regulatory framework ensures the safety and efficacy of medical devices while promoting their accessibility to patients and healthcare professionals. Underlying macroeconomic factors also contribute to the development of the Other Medical Devices market in Ireland. The country has a growing aging population, which drives the demand for medical devices that cater to age-related health conditions. As the population ages, there is an increasing need for devices that can monitor and manage chronic diseases such as diabetes, cardiovascular diseases, and respiratory conditions. Furthermore, Ireland's healthcare expenditure is increasing, reflecting the government's commitment to providing quality healthcare services to its citizens. This increased healthcare spending creates opportunities for the adoption and utilization of medical devices in the country. In conclusion, the Other Medical Devices market in Ireland is experiencing significant growth due to customer preferences for innovative and advanced medical devices, the increasing demand for personalized healthcare solutions, local special circumstances such as a well-developed healthcare infrastructure and a supportive regulatory environment, and underlying macroeconomic factors like a growing aging population and increasing healthcare expenditure. These factors contribute to the market's development and present opportunities for both domestic and international medical device manufacturers and suppliers.

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.