The Norwegian medical device market is limited by the size of the population, but enjoys above average per capita spending. The market will see moderate growth with the ageing population and investment in new technology the main growth drivers. The market will continue to be import-led with much of domestic production geared to the export market.
Latest Updates And Key Forecasts
We maintain our forecast that the Norwegian medical device market will grow at a 2015-2020 CAGR of 5.7% in local currency terms. Growth in US dollars will be lower at a 2015-2020 CAGR of 4.5% due to currency depreciation at the start of the forecast period.