Nordic Ultrasound Market Outlook (2021-2031)
Description
The Nordic ultrasound market is projected to grow significantly, reaching an estimated US$ 95.8 million by 2031, up from US$ 67.9 million in 2024. This growth translates to a compound annual growth rate (CAGR) of 5.0% from 2025 to 2031, reflecting the increasing demand for ultrasound technology in the region.
Executive Summary and Market Analysis
The Nordic countries, known for their advanced healthcare systems, provide publicly funded healthcare aimed at delivering high-quality medical procedures. This environment fosters early adoption of innovative medical technologies, with Sweden often leading the way in establishing benchmarks for practice and technology in the region.
The demand for ultrasound technology is on the rise, driven by an aging population and a growing prevalence of chronic illnesses. Healthcare facilities, including hospitals and clinics, are increasingly favoring ultrasound systems that deliver precise and detailed imaging, applicable across various specialties such as cardiology and musculoskeletal care. Additionally, there is a strong emphasis on efficiency and digital connectivity within the market. Healthcare providers are seeking systems that can seamlessly integrate with existing networks, facilitating smooth sharing of patient information across decentralized health systems.
Market Segmentation Analysis
The ultrasound market in the Nordic region can be segmented based on product type, portability, application, and end user.
1. Product Type: The market is divided into diagnostic ultrasound systems and therapeutic ultrasound systems. In 2024, the diagnostic ultrasound systems segment was the dominant force in the market.
2. Portability: This segment includes portable/trolley-based devices and handheld devices, with portable/trolley-based devices leading the market in 2024.
3. Application: The ultrasound market is further segmented into various applications, including general imaging, cardiology, oncology, gynecology, orthopedics, urology, gastroenterology, and others. The general imaging segment was the largest in 2024.
4. End User: The market is categorized into hospitals, specialty clinics, diagnostic imaging centers, ambulatory surgical centers, and others, with hospitals holding the largest market share in 2024.
Market Outlook
The Nordic ultrasound market is experiencing steady growth, bolstered by robust healthcare systems and a commitment to innovation. Countries in the region are investing in modern medical technologies, including advanced ultrasound devices. Hospitals and clinics are increasingly adopting portable and AI-enhanced systems to enhance patient care and expedite diagnoses. The rising number of chronic diseases and the aging population are further fueling the demand for non-invasive imaging solutions.
Public healthcare funding, along with private investments, is expanding access to ultrasound technology, particularly in rural areas. The market is characterized by a preference for high-quality, reliable equipment that can be integrated into everyday clinical practice. With a strong emphasis on digital health and operational efficiency, the Nordic region is poised to play a pivotal role in the evolution of ultrasound technology.
Country Insights
The Nordic ultrasound market is also analyzed by country, focusing on Sweden, Norway, Denmark, and Finland. Sweden emerged as the market leader in 2024, primarily due to its highly developed healthcare system and a culture that promotes innovation. The decentralized healthcare model in Sweden allows local authorities to invest in advanced medical technologies tailored to their specific needs, supported by a robust health insurance framework that ensures consistent funding for diagnostic equipment.
The demand for state-of-the-art ultrasound systems in Sweden is driven by the increasing incidence of chronic conditions, particularly cardiovascular diseases and cancer. Sweden is recognized as a hub for research and development, often being an early adopter of new technologies, including artificial intelligence in diagnostic imaging. The proactive MedTech industry, combined with a collaborative network of public and private healthcare providers, reinforces Sweden's leading position in the Nordic ultrasound market.
Company Profiles
Key players in the Nordic ultrasound market include GE HealthCare, Siemens Healthineers AG, FUJIFILM Holdings Corporation, Canon Inc., Koninklijke Philips N.V., Esaote SPA, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Hologic Inc., Trivitron Healthcare, and Samsung Healthcare. These companies employ various strategies, such as market expansion, product innovation, and mergers and acquisitions, to maintain competitiveness and deliver innovative products to consumers.
In conclusion, the Nordic ultrasound market is set for significant growth, driven by technological advancements, an aging population, and a strong healthcare infrastructure that prioritizes quality and efficiency.
Executive Summary and Market Analysis
The Nordic countries, known for their advanced healthcare systems, provide publicly funded healthcare aimed at delivering high-quality medical procedures. This environment fosters early adoption of innovative medical technologies, with Sweden often leading the way in establishing benchmarks for practice and technology in the region.
The demand for ultrasound technology is on the rise, driven by an aging population and a growing prevalence of chronic illnesses. Healthcare facilities, including hospitals and clinics, are increasingly favoring ultrasound systems that deliver precise and detailed imaging, applicable across various specialties such as cardiology and musculoskeletal care. Additionally, there is a strong emphasis on efficiency and digital connectivity within the market. Healthcare providers are seeking systems that can seamlessly integrate with existing networks, facilitating smooth sharing of patient information across decentralized health systems.
Market Segmentation Analysis
The ultrasound market in the Nordic region can be segmented based on product type, portability, application, and end user.
1. Product Type: The market is divided into diagnostic ultrasound systems and therapeutic ultrasound systems. In 2024, the diagnostic ultrasound systems segment was the dominant force in the market.
2. Portability: This segment includes portable/trolley-based devices and handheld devices, with portable/trolley-based devices leading the market in 2024.
3. Application: The ultrasound market is further segmented into various applications, including general imaging, cardiology, oncology, gynecology, orthopedics, urology, gastroenterology, and others. The general imaging segment was the largest in 2024.
4. End User: The market is categorized into hospitals, specialty clinics, diagnostic imaging centers, ambulatory surgical centers, and others, with hospitals holding the largest market share in 2024.
Market Outlook
The Nordic ultrasound market is experiencing steady growth, bolstered by robust healthcare systems and a commitment to innovation. Countries in the region are investing in modern medical technologies, including advanced ultrasound devices. Hospitals and clinics are increasingly adopting portable and AI-enhanced systems to enhance patient care and expedite diagnoses. The rising number of chronic diseases and the aging population are further fueling the demand for non-invasive imaging solutions.
Public healthcare funding, along with private investments, is expanding access to ultrasound technology, particularly in rural areas. The market is characterized by a preference for high-quality, reliable equipment that can be integrated into everyday clinical practice. With a strong emphasis on digital health and operational efficiency, the Nordic region is poised to play a pivotal role in the evolution of ultrasound technology.
Country Insights
The Nordic ultrasound market is also analyzed by country, focusing on Sweden, Norway, Denmark, and Finland. Sweden emerged as the market leader in 2024, primarily due to its highly developed healthcare system and a culture that promotes innovation. The decentralized healthcare model in Sweden allows local authorities to invest in advanced medical technologies tailored to their specific needs, supported by a robust health insurance framework that ensures consistent funding for diagnostic equipment.
The demand for state-of-the-art ultrasound systems in Sweden is driven by the increasing incidence of chronic conditions, particularly cardiovascular diseases and cancer. Sweden is recognized as a hub for research and development, often being an early adopter of new technologies, including artificial intelligence in diagnostic imaging. The proactive MedTech industry, combined with a collaborative network of public and private healthcare providers, reinforces Sweden's leading position in the Nordic ultrasound market.
Company Profiles
Key players in the Nordic ultrasound market include GE HealthCare, Siemens Healthineers AG, FUJIFILM Holdings Corporation, Canon Inc., Koninklijke Philips N.V., Esaote SPA, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Hologic Inc., Trivitron Healthcare, and Samsung Healthcare. These companies employ various strategies, such as market expansion, product innovation, and mergers and acquisitions, to maintain competitiveness and deliver innovative products to consumers.
In conclusion, the Nordic ultrasound market is set for significant growth, driven by technological advancements, an aging population, and a strong healthcare infrastructure that prioritizes quality and efficiency.
Table of Contents
161 Pages
- 1. Introduction
- 1.1 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 Data Triangulation and Validation
- 4. Nordic Ultrasound Market Landscape
- 4.1 Overview
- 4.3 Ecosystem Analysis
- 4.3.1 List of Vendors in the Value Chain
- 5. Nordic Ultrasound Market – Key Market Dynamics
- 5.1 Market Drivers
- 5.2 Market Restraints
- 5.3 Market Opportunities
- 5.4 Future Trends
- 5.5 Impact of Drivers and Restraints
- 6. Nordic Ultrasound Market Regional Analysis
- 6.2 Nordic Ultrasound Market Revenue 2021-2031 (US$ Million)
- 6.3 Nordic Ultrasound Market Forecast Analysis
- 7. Nordic Ultrasound Market Analysis – by Product Type
- 7.1 Diagnostic Ultrasound Systems
- 7.1.1 Overview
- 7.1.2 Diagnostic Ultrasound Systems: Nordic Ultrasound Market – Revenue and Forecast, 2021-2031 (US$ Million)
- 7.2 Therapeutic Ultrasound Systems
- 7.2.1 Overview
- 7.2.2 Therapeutic Ultrasound Systems: Nordic Ultrasound Market – Revenue and Forecast, 2021-2031 (US$ Million)
- 8. Nordic Ultrasound Market Analysis – by Portability
- 8.1 Portable/Trolley Based Devices
- 8.1.1 Overview
- 8.1.2 Portable/Trolley Based Devices: Nordic Ultrasound Market – Revenue and Forecast, 2021-2031 (US$ Million)
- 8.2 Handheld Devices
- 8.2.1 Overview
- 8.2.2 Handheld Devices: Nordic Ultrasound Market – Revenue and Forecast, 2021-2031 (US$ Million)
- 9. Nordic Ultrasound Market Analysis – by Application
- 9.1 General Imaging
- 9.1.1 Overview
- 9.1.2 General Imaging: Nordic Ultrasound Market – Revenue and Forecast, 2021-2031 (US$ Million)
- 9.2 Cardiology
- 9.2.1 Overview
- 9.2.2 Cardiology: Nordic Ultrasound Market – Revenue and Forecast, 2021-2031 (US$ Million)
- 9.3 Oncology
- 9.3.1 Overview
- 9.3.2 Oncology: Nordic Ultrasound Market – Revenue and Forecast, 2021-2031 (US$ Million)
- 9.4 Gynecology
- 9.4.1 Overview
- 9.4.2 Gynecology: Nordic Ultrasound Market – Revenue and Forecast, 2021-2031 (US$ Million)
- 9.5 Orthopedics
- 9.5.1 Overview
- 9.5.2 Orthopedics: Nordic Ultrasound Market – Revenue and Forecast, 2021-2031 (US$ Million)
- 9.6 Urology
- 9.6.1 Overview
- 9.6.2 Urology: Nordic Ultrasound Market – Revenue and Forecast, 2021-2031 (US$ Million)
- 9.7 Gastroenterology
- 9.7.1 Overview
- 9.7.2 Gastroenterology: Nordic Ultrasound Market – Revenue and Forecast, 2021-2031 (US$ Million)
- 9.8 Other Applications
- 9.8.1 Overview
- 9.8.2 Other Applications: Nordic Ultrasound Market – Revenue and Forecast, 2021-2031 (US$ Million)
- 10. Nordic Ultrasound Market Analysis – by End User
- 10.1 Hospitals
- 10.1.1 Overview
- 10.1.2 Hospitals: Nordic Ultrasound Market – Revenue and Forecast, 2021-2031 (US$ Million)
- 10.2 Specialty Clinics
- 10.2.1 Overview
- 10.2.2 Specialty Clinics: Nordic Ultrasound Market – Revenue and Forecast, 2021-2031 (US$ Million)
- 10.3 Diagnostics Imaging Centers
- 10.3.1 Overview
- 10.3.2 Diagnostics Imaging Centers: Nordic Ultrasound Market – Revenue and Forecast, 2021-2031 (US$ Million)
- 10.4 Ambulatory Surgical Centers
- 10.4.1 Overview
- 10.4.2 Ambulatory Surgical Centers: Nordic Ultrasound Market – Revenue and Forecast, 2021-2031 (US$ Million)
- 10.5 Others
- 10.5.1 Overview
- 10.5.2 Others: Nordic Ultrasound Market – Revenue and Forecast, 2021-2031 (US$ Million)
- 11. Nordic Ultrasound Market – Nordic Analysis
- 11.1 Overview
- 11.2 Nordic
- 11.2.1 Nordic Ultrasound Market Breakdown, by Key Country, 2025 and 2031 (%)
- 11.2.1.1 Nordic Ultrasound Market – Revenue and Forecast Analysis – by Country
- 11.2.1.1 Sweden: Nordic Ultrasound Market – Revenue and Forecast to 2031 (US$ Million)
- 11.2.1.1.1 Sweden: Nordic Ultrasound Market Breakdown, by Product Type
- 11.2.1.1.2 Sweden: Nordic Ultrasound Market Breakdown, by Portability
- 11.2.1.1.3 Sweden: Nordic Ultrasound Market Breakdown, by Application
- 11.2.1.1.4 Sweden: Nordic Ultrasound Market Breakdown, by End User
- 11.2.1.2 Denmark: Nordic Ultrasound Market – Revenue and Forecast to 2031 (US$ Million)
- 11.2.1.2.1 Denmark: Nordic Ultrasound Market Breakdown, by Product Type
- 11.2.1.2.2 Denmark: Nordic Ultrasound Market Breakdown, by Portability
- 11.2.1.2.3 Denmark: Nordic Ultrasound Market Breakdown, by Application
- 11.2.1.2.4 Denmark: Nordic Ultrasound Market Breakdown, by End User
- 11.2.1.3 Norway: Nordic Ultrasound Market – Revenue and Forecast to 2031 (US$ Million)
- 11.2.1.3.1 Norway: Nordic Ultrasound Market Breakdown, by Product Type
- 11.2.1.3.2 Norway: Nordic Ultrasound Market Breakdown, by Portability
- 11.2.1.3.3 Norway: Nordic Ultrasound Market Breakdown, by Application
- 11.2.1.3.4 Norway: Nordic Ultrasound Market Breakdown, by End User
- 11.2.1.4 Finland: Nordic Ultrasound Market – Revenue and Forecast to 2031 (US$ Million)
- 11.2.1.4.1 Finland: Nordic Ultrasound Market Breakdown, by Product Type
- 11.2.1.4.2 Finland: Nordic Ultrasound Market Breakdown, by Portability
- 11.2.1.4.3 Finland: Nordic Ultrasound Market Breakdown, by Application
- 11.2.1.4.4 Finland: Nordic Ultrasound Market Breakdown, by End User
- 12. Competitive Landscape
- 12.1 Heat Map Analysis
- 12.2 Company Positioning and Concentration
- 13. Industry Landscape
- 13.1 Overview
- 13.2 Market Initiative
- 13.3 Partnerships and Collaborations
- 13.4 Other Developments
- 14. Company Profiles
- 14.1 GE HealthCare
- 14.1.1 Key Facts
- 14.1.2 Business Description
- 14.1.3 Products and Services
- 14.1.4 Financial Overview
- 14.1.5 SWOT Analysis
- 14.1.6 Key Developments
- 14.2 Siemens Healthineers AG
- 14.2.1 Key Facts
- 14.2.2 Business Description
- 14.2.3 Products and Services
- 14.2.4 Financial Overview
- 14.2.5 SWOT Analysis
- 14.2.6 Key Developments
- 14.3 FUJIFILM Holdings Corporation
- 14.3.1 Key Facts
- 14.3.2 Business Description
- 14.3.3 Products and Services
- 14.3.4 Financial Overview
- 14.3.5 SWOT Analysis
- 14.3.6 Key Developments
- 14.4 Canon Inc.
- 14.4.1 Key Facts
- 14.4.2 Business Description
- 14.4.3 Products and Services
- 14.4.4 Financial Overview
- 14.4.5 SWOT Analysis
- 14.4.6 Key Developments
- 14.5 Koninklijke Philips N.V.
- 14.5.1 Key Facts
- 14.5.2 Business Description
- 14.5.3 Products and Services
- 14.5.4 Financial Overview
- 14.5.5 SWOT Analysis
- 14.5.6 Key Developments
- 14.6 Esaote SPA
- 14.6.1 Key Facts
- 14.6.2 Business Description
- 14.6.3 Products and Services
- 14.6.4 Financial Overview
- 14.6.5 SWOT Analysis
- 14.6.6 Key Developments
- 14.7 Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
- 14.7.1 Key Facts
- 14.7.2 Business Description
- 14.7.3 Products and Services
- 14.7.4 Financial Overview
- 14.7.5 SWOT Analysis
- 14.7.6 Key Developments
- 14.8 Hologic Inc.
- 14.8.1 Key Facts
- 14.8.2 Business Description
- 14.8.3 Products and Services
- 14.8.4 Financial Overview
- 14.8.5 SWOT Analysis
- 14.8.6 Key Developments
- 14.9 Trivitron Healthcare
- 14.9.1 Key Facts
- 14.9.2 Business Description
- 14.9.3 Products and Services
- 14.9.4 Financial Overview
- 14.9.5 SWOT Analysis
- 14.9.6 Key Developments
- 14.10 Samsung Healthcare
- 14.10.1 Key Facts
- 14.10.2 Business Description
- 14.10.3 Products and Services
- 14.10.4 Financial Overview
- 14.10.5 SWOT Analysis
- 14.10.6 Key Developments
- 15. Appendix
- 15.1 About Business Market Insights
- 15.2 List of Abbreviations
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