Market Insights Health Medical Technology

Medical Devices - Sweden

Sweden

The Medical Devices market market in Sweden is estimated to achieve a revenue of SEK US$1.97bn by 2024.
Among the various markets in this market, Cardiology_Devices holds the largest share, with a projected market volume of SEK US$0.23bn in 2024.
Over the period from 2024 to 2029, the market is expected to witness a steady annual growth rate of 5.62%, resulting in a market volume of SEK US$2.59bn by 2029.
When compared globally, it is noteworthy that the United States is projected to generate the highest revenue in the Medical Devices market market, reaching a substantial amount of US$181.00bn in 2024.
Sweden's medical device market is thriving, with a strong emphasis on innovation and a high demand for advanced technologies.

Key regions: Germany, Spain, Japan, United Kingdom, United States

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Analyst Opinion

The Medical Devices market in Sweden has been experiencing steady growth in recent years.

Customer preferences: Customers in Sweden have a strong preference for high-quality medical devices that are technologically advanced and offer innovative features. They value products that are reliable, efficient, and provide accurate results. Additionally, there is a growing demand for medical devices that are user-friendly and can be easily integrated into the healthcare system. Customers also prioritize devices that are cost-effective and offer value for money.

Trends in the market: One of the key trends in the Medical Devices market in Sweden is the increasing adoption of digital health technologies. This includes the use of connected devices, telemedicine, and remote monitoring systems. The integration of digital technologies in healthcare has the potential to improve patient outcomes, increase efficiency, and reduce healthcare costs. There is also a growing focus on preventive healthcare, which has led to an increased demand for medical devices that can help in early diagnosis and monitoring of chronic diseases. Another trend in the market is the growing importance of personalized medicine. Advances in genomics and molecular diagnostics have enabled healthcare providers to tailor treatments based on an individual's genetic makeup. This has created a demand for medical devices that can support personalized medicine, such as genetic testing kits and diagnostic tools.

Local special circumstances: Sweden has a well-developed healthcare system that is known for its high standards of care. The country has a strong focus on research and development, which has led to the development of innovative medical devices. The government has also implemented policies to promote the use of medical technology in healthcare, which has created a favorable environment for the growth of the Medical Devices market.

Underlying macroeconomic factors: Sweden has a stable economy with a high level of disposable income. This has contributed to the affordability of medical devices and increased consumer spending in the healthcare sector. The country also has a rapidly aging population, which has led to an increased demand for medical devices that can support the healthcare needs of the elderly. Additionally, the government has implemented healthcare reforms to improve access to healthcare services, which has further fueled the demand for medical devices. In conclusion, the Medical Devices market in Sweden is driven by customer preferences for high-quality and technologically advanced products. The market is also influenced by trends such as the adoption of digital health technologies and the focus on personalized medicine. The local special circumstances, including a well-developed healthcare system and government policies, have created a favorable environment for the growth of the market. The underlying macroeconomic factors, such as a stable economy and an aging population, have also contributed to the growth of the Medical Devices market in Sweden.

Methodology

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.