Medical Technology - Sweden

Sweden

In 2024, the projected revenue in the Medical Technology market market in Sweden is expected to reach SEK US$2.27bn.
The largest market within this market is Medical Devices, which is projected to have a market volume of SEK US$1.97bn in the same year.
It is anticipated that the revenue will experience an annual growth rate (CAGR 2024-2029) of 5.31%, resulting in a market volume of SEK US$2.94bn by 2029.
In comparison to other countries, the United States is projected to generate the highest revenue of US$211.10bn in 2024.
Sweden's medical technology market is thriving, with a strong focus on innovative solutions for precision medicine and digital health.

Key regions: United States, Germany, China, Japan, France

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Analyst Opinion

The Medical Technology market in Sweden has been experiencing significant growth in recent years. Customer preferences for advanced medical devices and treatments, coupled with favorable local special circumstances and underlying macroeconomic factors, have contributed to this development. Customer preferences in the Swedish Medical Technology market are driven by a demand for cutting-edge and innovative healthcare solutions. Swedish consumers value high-quality medical devices that offer advanced features and improved patient outcomes. They are willing to invest in state-of-the-art technology that can provide accurate diagnoses, efficient treatments, and enhanced patient experiences. Additionally, there is a growing demand for personalized medical devices and treatments that cater to individual patient needs. One of the key trends in the Swedish Medical Technology market is the adoption of digital health solutions. The integration of digital technologies, such as artificial intelligence, big data analytics, and telemedicine, has revolutionized healthcare delivery in Sweden. Digital health solutions enable remote patient monitoring, teleconsultations, and personalized treatment plans, improving access to healthcare services and reducing healthcare costs. The Swedish government has also been actively promoting the use of digital health technologies to enhance healthcare efficiency and patient outcomes. Another trend in the market is the focus on sustainability and eco-friendly medical devices. Swedish consumers are increasingly concerned about the environmental impact of healthcare products and are seeking sustainable alternatives. Medical device manufacturers are responding to this demand by developing eco-friendly products that reduce waste, energy consumption, and carbon emissions. This trend aligns with Sweden's commitment to environmental sustainability and its efforts to promote a circular economy. In terms of local special circumstances, Sweden has a well-developed healthcare system that provides universal access to high-quality healthcare services. The country's strong emphasis on research and development, coupled with a supportive regulatory environment, has fostered innovation in the Medical Technology sector. The presence of renowned universities and research institutions further contributes to the development of cutting-edge medical devices and treatments. Underlying macroeconomic factors also play a role in the growth of the Medical Technology market in Sweden. The country has a robust economy with high levels of disposable income and a strong social welfare system. This enables Swedish consumers to invest in advanced medical devices and treatments. Additionally, the aging population in Sweden is driving the demand for medical technology as the healthcare needs of elderly individuals increase. In conclusion, the Medical Technology market in Sweden is experiencing growth due to customer preferences for advanced and innovative healthcare solutions, the adoption of digital health technologies, a focus on sustainability, local special circumstances such as a well-developed healthcare system and a supportive regulatory environment, and underlying macroeconomic factors such as a strong economy and an aging population. This market is expected to continue to expand as new technologies and treatments are developed to meet the evolving needs of Swedish consumers.

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.