Other Medical Devices - New Zealand

New Zealand

Highlights

In New Zealand, the revenue in the market of Other Medical Devices market is expected to reach US$344.10m in 2024.
Looking ahead, the revenue is projected to show a compound annual growth rate (CAGR) of 5.03% from 2024 to 2029, resulting in a market volume of US$439.80m by 2029.
It is worth noting that in global comparison, the United States is expected to generate the highest revenue in this market, with a projected revenue of US$58.90bn in 2024.
New Zealand is experiencing a surge in demand for innovative medical devices, leading to a thriving market for other medical devices in the country's medical technology sector.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Other Medical Devices market in New Zealand is experiencing steady growth due to several factors.

Customer preferences: Customers in the Other Medical Devices market in New Zealand are increasingly seeking innovative and technologically advanced products. They are looking for devices that can provide accurate and reliable results, while also being user-friendly and easy to operate. This demand for advanced technology is driving manufacturers to develop new and improved products to meet the needs of the market.

Trends in the market: One of the key trends in the Other Medical Devices market in New Zealand is the increasing focus on home healthcare. As the population ages and healthcare costs rise, there is a growing preference for medical devices that can be used in the comfort of one's own home. This trend is driving the development of portable and easy-to-use devices that can monitor various health conditions and provide real-time data to healthcare professionals. Another trend in the market is the growing demand for personalized healthcare solutions. Customers are increasingly looking for medical devices that can be customized to their specific needs and preferences. This includes devices that can be programmed to provide personalized treatment plans and monitor individual health parameters. Manufacturers are responding to this trend by developing devices with customizable features and software applications that can be tailored to each customer's unique requirements.

Local special circumstances: New Zealand has a well-developed healthcare system that provides universal access to healthcare services. This, coupled with a high level of health awareness among the population, has created a favorable environment for the growth of the Other Medical Devices market. Additionally, the government has implemented policies to promote the adoption of innovative medical technologies, further driving the market growth.

Underlying macroeconomic factors: New Zealand has a stable economy with a high standard of living. The country has a strong healthcare infrastructure and a well-educated workforce, which supports the development and adoption of advanced medical devices. The government's focus on healthcare and investment in research and development also contribute to the growth of the Other Medical Devices market. Furthermore, the increasing prevalence of chronic diseases, such as diabetes and cardiovascular diseases, is driving the demand for medical devices that can help manage these conditions. In conclusion, the Other Medical Devices market in New Zealand is experiencing steady growth due to customer preferences for innovative and technologically advanced products, the increasing focus on home healthcare, and the growing demand for personalized healthcare solutions. The local special circumstances, including a well-developed healthcare system and government support, further contribute to the market growth. The underlying macroeconomic factors, such as a stable economy and the increasing prevalence of chronic diseases, also play a significant role in driving 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.