Medical Devices - Switzerland | Statista Market Forecast

In 2024, it is projected that the revenue in the Medical Devices market market in Switzerland will reach US$4.83bn.
Among the various markets in this market, Cardiology_Devices is expected to be the largest, with a projected market volume of US$661.30m in the same year.
Looking ahead, the revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 4.87%, resulting in a market volume of US$6.13bn by 2029.
It is worth noting that, in a global comparison, the United States is expected to generate the highest revenue in this sector, amounting to US$181.00bn in 2024.
Switzerland's thriving medical device market is fueled by its strong focus on precision engineering and its reputation for high-quality products.

Definition:
The Medical Devices market includes instruments and machines helping for the prevention, diagnosis, and treatment of diseases. This market is further broken down into 6 submarkets according to medical specialties or types of application. Medical devices that treat the heart, such as pacemakers, can be found in the Cardiology Devices market. The Diagnostic Imaging market covers machines and instruments for diagnosis of many different kinds of conditions. Devices for orthopedic applications, such as joint implants, are included in the Orthopedic Devices market. Ophthalmic Devices are devices used for conditions related to the eye. The General & Plastic Surgery Devices covers many different products required for surgeries. The Other Medical Devices market provides information on additional areas that are not covered by the main markets.

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, Siemens Healthineers.

Implants and prostheses
Assistive technology products (e.g., hearing aids, wheelchairs)
Clinical engineering products
Imaging devices
Active medical devices (i.e., operating with electrical energy)

Services (i.e., treatment expenses)
Consumer technologies, e.g., fitness trackers
Products for laboratory testing (IVD)

The Medical Devices market in Switzerland is experiencing steady growth due to a combination of customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Switzerland are driving the demand for innovative and high-quality medical devices. Swiss consumers have a strong emphasis on quality and precision, and they value products that are reliable and technologically advanced. They are willing to pay a premium for medical devices that offer superior performance and durability. Additionally, Swiss consumers prioritize products that are user-friendly and have a high level of safety. As a result, medical device companies that can meet these customer preferences are seeing increased demand for their products in Switzerland. Trends in the market are also contributing to the growth of the Medical Devices market in Switzerland. One key trend is the increasing adoption of digital health technologies. Swiss healthcare providers are embracing digital solutions to improve patient care and streamline operations. This includes the use of wearable devices, remote monitoring systems, and telehealth platforms. The demand for these technologies is driving the growth of the Medical Devices market in Switzerland, as companies develop and market innovative products to meet these needs. Another trend in the market is the focus on personalized medicine. Swiss healthcare providers are increasingly using genetic testing and other diagnostic tools to tailor treatment plans to individual patients. This requires the use of specialized medical devices that can accurately analyze genetic information and provide targeted therapies. As a result, companies that offer personalized medicine solutions are experiencing growth in the Medical Devices market in Switzerland. Local special circumstances also play a role in the development of the Medical Devices market in Switzerland. The country has a highly developed healthcare system with a strong emphasis on research and innovation. Switzerland is home to many leading medical device companies and research institutions, creating a favorable environment for the development and commercialization of new products. Additionally, the country has a high level of healthcare spending per capita, which supports the demand for medical devices. Underlying macroeconomic factors are also contributing to the growth of the Medical Devices market in Switzerland. The country has a stable economy and a high standard of living, which allows consumers to afford and demand high-quality medical devices. Additionally, Switzerland has an aging population, which is driving the demand for medical devices related to chronic diseases and age-related conditions. The government also plays a role in supporting the Medical Devices market through favorable regulations and policies that promote innovation and access to healthcare. In conclusion, the Medical Devices market in Switzerland is experiencing growth due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Swiss consumers value high-quality and innovative medical devices, and the market is driven by trends such as the adoption of digital health technologies and personalized medicine. The country's strong healthcare system, high level of healthcare spending, and aging population also contribute to the growth 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.