Nordic Medical Imaging Equipment Market Outlook (2021-2031)
Description
The Nordic medical imaging equipment market is projected to grow significantly, reaching an estimated value of approximately US$ 1,023.4 million by the year 2031, up from US$ 700.6 million in 2024. This growth trajectory indicates a compound annual growth rate (CAGR) of 5.6% from 2025 to 2031.
Overview of the Nordic Medical Imaging Equipment Market
The medical imaging equipment sector in the Nordic region, which encompasses Sweden, Norway, Denmark, and Finland, is characterized by its maturity and a strong focus on innovation. The healthcare systems in these countries are globally recognized for their effectiveness and efficiency. Continuous government investment in public health, coupled with an aging population and a robust emphasis on early diagnosis, is fueling a consistent demand for advanced imaging technologies.
Market Segmentation Analysis
The medical imaging equipment market is categorized into key segments based on product type, application, and end user.
Product Type: The market is divided into Magnetic Resonance Imaging (MRI) Systems, Ultrasound Devices, Computed Tomography (CT) Scanners, X-Ray Imaging Devices, and Nuclear Imaging Systems. Among these, the Computed Tomography segment was the leading contributor to market revenue in 2024.
Application: The applications of medical imaging equipment are varied, covering areas such as Cardiology, Oncology, Neurology, Orthopedics, Gastroenterology, Gynecology, Urology, and others. The oncology segment was the largest in terms of market share in 2024, reflecting the critical role of imaging in cancer diagnosis and treatment.
End User: The market is also segmented by end users, which include Hospitals, Specialty Clinics, Diagnostic Imaging Centers, Academic and Research Institutions, and others. Hospitals represented the largest share of the market in 2024, highlighting their central role in healthcare delivery.
Future Outlook for the Nordic Medical Imaging Equipment Market
The Nordic medical imaging equipment market is poised for continued growth, driven by several factors. The region is at the forefront of adopting AI-enabled solutions, sustainable production practices, and integrated digital health systems. The supportive public funding structures, comprehensive preventive care policies, and a readiness to adopt cutting-edge technologies further enhance the market's potential.
Recent collaborations, such as the launch of United Imaging's systems in partnership with Datec Medico in Denmark, illustrate the ongoing efforts to diversify suppliers and reduce barriers to market entry for imaging equipment. The increasing deployment of AI in clinical applications, particularly in Norway, is alleviating the diagnostic burden and improving the efficiency of patient diagnostics.
The Nordic region's commitment to investing in advanced imaging technologies reflects a broader trend towards enhancing efficiency, scalability, and precision in healthcare. However, challenges remain, including a shortage of radiologists, particularly in rural and northern areas, high operational costs, and centralized procurement processes that can delay the introduction of new technologies. Additionally, stringent data protection and sustainability regulations present both challenges and opportunities for imaging equipment manufacturers.
Country Specific Insights
The Nordic medical imaging equipment market can be further analyzed by country, focusing on Sweden, Norway, Denmark, and Finland. Sweden emerged as the leading country in market share in 2024.
Sweden boasts a highly advanced healthcare system, characterized by a well-established infrastructure, high standards of medical care, and a strong commitment to innovation. The government plays a crucial role by providing public funding, which facilitates a high adoption rate of new medical technologies.
Several factors are driving growth in Sweden's medical imaging market: the increasing adoption of digital healthcare solutions (e-health), rising healthcare expenditures, a growing focus on preventive care, and the escalating burden of chronic diseases. Furthermore, there is a notable trend towards personalized medicine, which leverages imaging technologies to deliver more tailored and detailed diagnostic information prior to treatment.
Key Players in the Nordic Medical Imaging Equipment Market
Prominent companies operating within the medical imaging equipment market include GE HealthCare, Siemens Healthineers AG, FUJIFILM Holdings Corporation, CANON MEDICAL SYSTEMS CORPORATION, Koninklijke Philips N.V., and Shimadzu Corporation. These industry leaders employ various strategies, such as market expansion, product innovation, and mergers and acquisitions, to maintain competitiveness and deliver innovative solutions to their customers.
Overview of the Nordic Medical Imaging Equipment Market
The medical imaging equipment sector in the Nordic region, which encompasses Sweden, Norway, Denmark, and Finland, is characterized by its maturity and a strong focus on innovation. The healthcare systems in these countries are globally recognized for their effectiveness and efficiency. Continuous government investment in public health, coupled with an aging population and a robust emphasis on early diagnosis, is fueling a consistent demand for advanced imaging technologies.
Market Segmentation Analysis
The medical imaging equipment market is categorized into key segments based on product type, application, and end user.
Product Type: The market is divided into Magnetic Resonance Imaging (MRI) Systems, Ultrasound Devices, Computed Tomography (CT) Scanners, X-Ray Imaging Devices, and Nuclear Imaging Systems. Among these, the Computed Tomography segment was the leading contributor to market revenue in 2024.
Application: The applications of medical imaging equipment are varied, covering areas such as Cardiology, Oncology, Neurology, Orthopedics, Gastroenterology, Gynecology, Urology, and others. The oncology segment was the largest in terms of market share in 2024, reflecting the critical role of imaging in cancer diagnosis and treatment.
End User: The market is also segmented by end users, which include Hospitals, Specialty Clinics, Diagnostic Imaging Centers, Academic and Research Institutions, and others. Hospitals represented the largest share of the market in 2024, highlighting their central role in healthcare delivery.
Future Outlook for the Nordic Medical Imaging Equipment Market
The Nordic medical imaging equipment market is poised for continued growth, driven by several factors. The region is at the forefront of adopting AI-enabled solutions, sustainable production practices, and integrated digital health systems. The supportive public funding structures, comprehensive preventive care policies, and a readiness to adopt cutting-edge technologies further enhance the market's potential.
Recent collaborations, such as the launch of United Imaging's systems in partnership with Datec Medico in Denmark, illustrate the ongoing efforts to diversify suppliers and reduce barriers to market entry for imaging equipment. The increasing deployment of AI in clinical applications, particularly in Norway, is alleviating the diagnostic burden and improving the efficiency of patient diagnostics.
The Nordic region's commitment to investing in advanced imaging technologies reflects a broader trend towards enhancing efficiency, scalability, and precision in healthcare. However, challenges remain, including a shortage of radiologists, particularly in rural and northern areas, high operational costs, and centralized procurement processes that can delay the introduction of new technologies. Additionally, stringent data protection and sustainability regulations present both challenges and opportunities for imaging equipment manufacturers.
Country Specific Insights
The Nordic medical imaging equipment market can be further analyzed by country, focusing on Sweden, Norway, Denmark, and Finland. Sweden emerged as the leading country in market share in 2024.
Sweden boasts a highly advanced healthcare system, characterized by a well-established infrastructure, high standards of medical care, and a strong commitment to innovation. The government plays a crucial role by providing public funding, which facilitates a high adoption rate of new medical technologies.
Several factors are driving growth in Sweden's medical imaging market: the increasing adoption of digital healthcare solutions (e-health), rising healthcare expenditures, a growing focus on preventive care, and the escalating burden of chronic diseases. Furthermore, there is a notable trend towards personalized medicine, which leverages imaging technologies to deliver more tailored and detailed diagnostic information prior to treatment.
Key Players in the Nordic Medical Imaging Equipment Market
Prominent companies operating within the medical imaging equipment market include GE HealthCare, Siemens Healthineers AG, FUJIFILM Holdings Corporation, CANON MEDICAL SYSTEMS CORPORATION, Koninklijke Philips N.V., and Shimadzu Corporation. These industry leaders employ various strategies, such as market expansion, product innovation, and mergers and acquisitions, to maintain competitiveness and deliver innovative solutions to their customers.
Table of Contents
153 Pages
- 1. Introduction
- 1.1 Business Market Insights Research Report Guidance
- 1.2 Market Segmentation
- 2. Executive Summary
- 2.1 Key Market Insights
- 2.2 Market Attractiveness
- 3. Research Methodology
- 3.1 Secondary Research
- 3.2 Primary Research
- 3.2.1 Hypothesis formulation:
- 3.2.2 Macro-economic factor analysis:
- 3.2.3 Developing base number:
- 3.2.4 Data Triangulation:
- 3.2.5 Country level data:
- 4. Nordic Medical Imaging Equipment Market Landscape
- 4.1 Market Overview
- 4.2 Porter's Five Forces Analysis
- 4.2.1 Bargaining Power of Suppliers
- 4.2.2 Bargaining Power of Buyers
- 4.2.3 Threat of New Entrants
- 4.2.4 Competitive Rivalry
- 4.2.5 Threat of Substitutes
- 4.3 Ecosystem Analysis
- 4.3.1 Raw Material Suppliers
- 4.3.2 Manufacturers
- 4.3.3 Distributors/Suppliers
- 4.3.4 End Users
- 5. Nordic Medical Imaging Equipment Market – Key Market Dynamics
- 5.1 Growth Drivers
- 5.1.1 Rising Prevalence of Chronic and Complex Diseases
- 5.1.2 Increasing Integration with Artificial Intelligence
- 5.1.3 Fostering Innovations Backed by Regulatory Reforms
- 5.2 Market Opportunities
- 5.2.1 Growth in Point-of-Care Imaging Solutions
- 5.2.2 Expansion of Imaging Capabilities in Interventional Radiology
- 5.3 Future Trends
- 5.3.1 Rising Demand for 3D and 4D Imaging
- 5.3.2 Shift Toward Portable and Handheld Imaging Devices
- 5.3.3 Expansion of Teleradiology Services
- 5.4 Impact of Drivers and Restraints
- 6. Nordic Medical Imaging Equipment Market Regional Analysis
- 6.1 Nordic Medical Imaging Equipment Market Overview
- 6.2 Nordic Medical Imaging Equipment Market Revenue 2021-2031 (US$ Million)
- 6.3 Nordic Medical Imaging Equipment Market Forecast Analysis
- 7. Nordic Medical Imaging Equipment Market Analysis – by Product Type
- 7.1 Magnetic Resonance Imaging Systems
- 7.1.1 Overview
- 7.1.2 Magnetic Resonance Imaging Systems: Nordic Medical Imaging Equipment Market – Revenue and Forecast to 2031 (US$ Million)
- 7.2 Ultrasound
- 7.2.1 Overview
- 7.2.2 Ultrasound: Nordic Medical Imaging Equipment Market – Revenue and Forecast to 2031 (US$ Million)
- 7.3 Computed Tomography Devices
- 7.3.1 Overview
- 7.3.2 Computed Tomography Devices: Nordic Medical Imaging Equipment Market – Revenue and Forecast to 2031 (US$ Million)
- 7.4 X-Ray Imaging Devices
- 7.4.1 Overview
- 7.4.2 X-Ray Imaging Devices: Nordic Medical Imaging Equipment Market – Revenue and Forecast to 2031 (US$ Million)
- 7.5 Nuclear Imaging System
- 7.5.1 Overview
- 7.5.2 Nuclear Imaging System: Nordic Medical Imaging Equipment Market – Revenue and Forecast to 2031 (US$ Million)
- 8. Nordic Medical Imaging Equipment Market Analysis – by Application
- 8.1 Cardiology
- 8.1.1 Overview
- 8.1.2 Cardiology: Nordic Medical Imaging Equipment Market – Revenue and Forecast to 2031 (US$ Million)
- 8.2 Oncology
- 8.2.1 Overview
- 8.2.2 Oncology: Nordic Medical Imaging Equipment Market – Revenue and Forecast to 2031 (US$ Million)
- 8.3 Neurology
- 8.3.1 Overview
- 8.3.2 Neurology: Nordic Medical Imaging Equipment Market – Revenue and Forecast to 2031 (US$ Million)
- 8.4 Orthopedics
- 8.4.1 Overview
- 8.4.2 Orthopedics: Nordic Medical Imaging Equipment Market – Revenue and Forecast to 2031 (US$ Million)
- 8.5 Gastroenterology
- 8.5.1 Overview
- 8.5.2 Gastroenterology: Nordic Medical Imaging Equipment Market – Revenue and Forecast to 2031 (US$ Million)
- 8.6 Gynecology
- 8.6.1 Overview
- 8.6.2 Gynecology: Nordic Medical Imaging Equipment Market – Revenue and Forecast to 2031 (US$ Million)
- 8.7 Urology
- 8.7.1 Overview
- 8.7.2 Urology: Nordic Medical Imaging Equipment Market – Revenue and Forecast to 2031 (US$ Million)
- 9. Nordic Medical Imaging Equipment Market Analysis – by End User
- 9.1 Hospitals
- 9.1.1 Overview
- 9.1.2 Urology: Nordic Medical Imaging Equipment Market – Revenue and Forecast to 2031 (US$ Million)
- 9.2 Specialty Clinics
- 9.2.1 Overview
- 9.2.2 Urology: Nordic Medical Imaging Equipment Market – Revenue and Forecast to 2031 (US$ Million)
- 9.3 Diagnostics Imaging Centers
- 9.3.1 Overview
- 9.3.2 Urology: Nordic Medical Imaging Equipment Market – Revenue and Forecast to 2031 (US$ Million)
- 9.4 Academic & Research Institutes
- 9.4.1 Overview
- 9.4.2 Urology: Nordic Medical Imaging Equipment Market – Revenue and Forecast to 2031 (US$ Million)
- 9.5 Others
- 9.5.1 Overview
- 9.5.2 Urology: Nordic Medical Imaging Equipment Market – Revenue and Forecast to 2031 (US$ Million)
- 10. Nordic Medical Imaging Equipment Market – Nordic Analysis
- 10.1 Nordic
- 10.1.1 Nordic Medical Imaging Equipment Market Breakdown, by Key Country, 2025 and 2031 (%)
- 10.1.1.1 Nordic Medical Imaging Equipment Market – Revenue and Forecast Analysis – by Country
- 10.1.1.1 Denmark: Nordic Medical Imaging Equipment Market – Revenue and Forecast to 2031 (US$ Million)
- 10.1.1.1.1 Denmark: Nordic Medical Imaging Equipment Market Breakdown, by Product Type
- 10.1.1.1.2 Denmark: Nordic Medical Imaging Equipment Market Breakdown, by Application
- 10.1.1.1.3 Denmark: Nordic Medical Imaging Equipment Market Breakdown, by End User
- 10.1.1.2 Finland: Nordic Medical Imaging Equipment Market – Revenue and Forecast to 2031 (US$ Million)
- 10.1.1.2.1 Finland: Nordic Medical Imaging Equipment Market Breakdown, by Product Type
- 10.1.1.2.2 Finland: Nordic Medical Imaging Equipment Market Breakdown, by Application
- 10.1.1.2.3 Finland: Nordic Medical Imaging Equipment Market Breakdown, by End User
- 10.1.1.3 Norway: Nordic Medical Imaging Equipment Market – Revenue and Forecast to 2031 (US$ Million)
- 10.1.1.3.1 Norway: Nordic Medical Imaging Equipment Market Breakdown, by Product Type
- 10.1.1.3.2 Norway: Nordic Medical Imaging Equipment Market Breakdown, by Application
- 10.1.1.3.3 Norway: Nordic Medical Imaging Equipment Market Breakdown, by End User
- 10.1.1.4 Sweden: Nordic Medical Imaging Equipment Market – Revenue and Forecast to 2031 (US$ Million)
- 10.1.1.4.1 Sweden: Nordic Medical Imaging Equipment Market Breakdown, by Product Type
- 10.1.1.4.2 Sweden: Nordic Medical Imaging Equipment Market Breakdown, by Application
- 10.1.1.4.3 Sweden: Nordic Medical Imaging Equipment Market Breakdown, by End User
- 11. Competitive Landscape
- 11.1 Heat Map Analysis
- 11.2 Company Positioning and Concentration
- 12. Nordic Medical Imaging Equipment Market Industry Landscape
- 12.1 Overview
- 12.2 Mergers and Acquisitions
- 12.3 Agreements, Collaborations, and Joint Ventures
- 12.4 New Product Launches
- 12.5 Expansions and Other Strategic Developments
- 13. Company Profiles
- 13.1 GE HealthCare
- 13.1.1 Key Facts
- 13.1.2 Business Description
- 13.1.3 Products and Services
- 13.1.4 Financial Overview
- 13.1.5 SWOT Analysis
- 13.1.6 Key Developments
- 13.2 Siemens Healthineers AG
- 13.2.1 Key Facts
- 13.2.2 Business Description
- 13.2.3 Products and Services
- 13.2.4 Financial Overview
- 13.2.5 SWOT Analysis
- 13.2.6 Key Developments
- 13.3 FUJIFILM Holdings Corporation
- 13.3.1 Key Facts
- 13.3.2 Business Description
- 13.3.3 Products and Services
- 13.3.4 Financial Overview
- 13.3.5 SWOT Analysis
- 13.3.6 Key Developments
- 13.4 CANON MEDICAL SYSTEMS CORPORATION
- 13.4.1 Key Facts
- 13.4.2 Business Description
- 13.4.3 Products and Services
- 13.4.4 Financial Overview
- 13.4.5 SWOT Analysis
- 13.4.6 Key Developments
- 13.5 Koninklijke Philips N.V.
- 13.5.1 Key Facts
- 13.5.2 Business Description
- 13.5.3 Products and Services
- 13.5.4 Financial Overview
- 13.5.5 SWOT Analysis
- 13.5.6 Key Developments
- 13.6 Shimadzu Corporation
- 13.6.1 Key Facts
- 13.6.2 Business Description
- 13.6.3 Products and Services
- 13.6.4 Financial Overview
- 13.6.5 SWOT Analysis
- 13.6.6 Key Developments
- 13.7 Hologic, Inc.
- 13.7.1 Key Facts
- 13.7.2 Business Description
- 13.7.3 Products and Services
- 13.7.4 Financial Overview
- 13.7.5 SWOT Analysis
- 13.7.6 Key Developments
- 13.8 Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
- 13.8.1 Key Facts
- 13.8.2 Business Description
- 13.8.3 Products and Services
- 13.8.4 Financial Overview
- 13.8.5 SWOT Analysis
- 13.8.6 Key Developments
- 13.9 Samsung Healthcare
- 13.9.1 Key Facts
- 13.9.2 Business Description
- 13.9.3 Products and Services
- 13.9.4 Financial Overview
- 13.9.5 SWOT Analysis
- 13.9.6 Key Developments
- 13.10 Neusoft Medical Systems Co., Ltd.
- 13.10.1 Key Facts
- 13.10.2 Business Description
- 13.10.3 Products and Services
- 13.10.4 Financial Overview
- 13.10.5 SWOT Analysis
- 13.10.6 Key Developments
- 14. Appendix
- 14.1 About Business Market Insights
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