Sweden 3D Imaging Market Analysis

Sweden 3D Imaging Market Analysis


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Sweden's 3D imaging market is projected to grow from $xx Bn in 2022 to $0.11 Bn by 2030, registering a CAGR xx% during the forecast period of 2022-30. The market will be driven by the increased frequency of chronic illnesses, the growing need for customized care & The Swedish government's efforts in healthcare and medical research. The market is segmented by product, application, by end-user & by portability. Some of the major players include GE Healthcare, Siemens Healthineers, and Philips Healthcare

ID: IN10SEDH001 CATEGORY: Digital Health GEOGRAPHY: Sweden AUTHOR: Vidhi Upadhyay

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Sweden 3D Imaging Market Executive Summary

Sweden's 3D imaging market is projected to grow from $0.11 Bn in 2022 to $xx Bn by 2030, registering a CAGR of xx% during the forecast period of 2022-30. Sweden's PPP health spending per capita increased from $ 5,655.7 in 2017 to $ 6,222.7 in 2019. Health spending in Sweden is mostly supported by local tax revenue, as well as direct payments from the national government, regional subsidies for outpatient prescriptions, and certain national programs. Its health spending was 10.9% of GDP, the third highest among EU nations and significantly higher than the EU average of 9.9%. According to The Global Cancer Observatory 2020, out of a total population of 10.09 Mn, the number of new cases of cancer was 0.062 Mn with 0.024 Mn deaths. Chronic ischemic heart disease was the leading cause of mortality from heart diseases in Sweden in 2021 claiming the lives of 51.52 people per 100,000 people.

Sweden has a well-established healthcare system that makes use of cutting-edge medical technology such as 3D Imaging. CT and MRI scans, for example, are widely utilized in Swedish hospitals and medical institutions for a variety of medical purposes, including cancer detection, neuroimaging, and orthopedic surgery planning. In Sweden, there have been many advancements in the field of 3D Imaging in recent years. Uppsala University, for example, has developed a revolutionary 3D printing technology that utilizes CT and MRI images to construct extremely realistic copies of patient-specific organs and tissues. Furthermore, Swedish medical technology businesses are creating new 3D imaging software and hardware, such as enhanced visualization software.

sweden 3D imaging market analysis

Market Dynamics

Market Growth Drivers

In November 2021, ContextVision, a medical technology software business specializing in image quality and artificial intelligence, announced the release of Rivent 3D, a breakthrough in ultrasound medical imaging technology. ContextVision extended the Rivent platform even further by giving physicians with 3D and 4D visuals that are as clear as reality, assisting them in delivering a confident diagnosis and improved treatment. Such technological advancements have resulted in improved accuracy and resolution, making the technology more dependable for medical applications. One of the top drivers is the growing need for customized care, which has necessitated the development of patient-specific models and treatment strategies. Furthermore, the increased frequency of chronic illnesses in Sweden has prompted the development of improved diagnosis and treatment technologies, such as 3D Imaging. The Swedish government's efforts in healthcare and medical research have also aided market expansion. Finally, Sweden's strong legacy of partnership between academics and business has fostered innovation in the field of 3D Imaging, adding to the country's growth and prosperity.

Market Restraints

A number of additional issues impede Sweden's 3D imaging market, including the high cost of 3D imaging technology, which inhibits its broad adoption in many healthcare facilities. The shortage of qualified staff capable of operating and interpreting complex 3D imaging equipment is a significant impediment. Furthermore, in Sweden, the rigorous regulatory requirements and lengthy approval process for new medical devices and imaging technologies provide a significant barrier to entry for new enterprises.

Competitive Landscape

Key Players

  • GE Healthcare
  • Siemens Healthineers
  • Philips Healthcare
  • Canon Medical Systems
  • Fujifilm Holdings Corporation
  • Hitachi Healthcare
  • Toshiba Medical Systems
  • ContextVision AB (SWE)
  • Bildteknik (SWE)

Notable Deals

  1. January 2023, Canon Medical Systems Corporation announced a Partnership with ScImage, Inc., as it plans to expand in image exchange solutions and the cardiac market
  2. November 2022, At RSNA, Philips introduces new AI-enhanced informatics solutions having an integrated diagnostic strategy that combines radiology, cardiology, pathology, and oncology to securely unify data and pictures throughout the organization, allowing for an earlier and more conclusive diagnosis
  3. November 2022, GE HealthCare announced partnerships with Accuray, Elekta, and RaySearch to combine GE HealthCare's imaging capabilities with precision radiation therapy to give cancer patients early diagnosis and improved treatment alternatives

Healthcare Policies and Regulatory Landscape

The Swedish Medical Products Agency (MPA), controls the safety, effectiveness, and quality of medical devices and equipment including 3D Imaging in Sweden. The MPA is in charge of authorizing and overseeing the use of 3D Imaging technology in clinical settings.

Reimbursement Scenario

Sweden's healthcare system offers universal population coverage for a wide range of services. As a result, the bulk of Out of pocket is due to cost-sharing regulations. The national healthcare system known as Swedish Social Insurance Agency is responsible for the reimbursement. As The Swedish healthcare system is publicly supported, and all people have free access to medical services such as 3D Imaging. Yet, certain types of imaging examinations may incur out-of-pocket fees for people who do not have health insurance.

1. Executive Summary
1.1 Digital Health Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Digital Health Policy in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Sweden 3D Imaging Market Segmentation

By Product (Revenue, USD Billion):

The 3D Imaging Market is divided majorly into X-ray Imaging Systems, Computed Tomography (CT), Magnetic Resonance Imaging (MRI), Ultrasound & Nuclear Imaging Systems. X-ray Imaging systems have the highest market share in the 3D Imaging market. 3D X- rays are mostly utilized for dental and orthopedic applications. 3D Ultrasound is majorly helpful in tracking the dynamic motion of arteries, and veins and also has applications for various fetal, cardiac, obstetric, and rectal examinations, and many more. The ultrasound segment is predicted to develop substantially over the forecast period, primarily to the advancements in technology in the healthcare industry and the several advantages given by 3D ultrasound imaging over standard ultrasound imaging.

  • X-ray Imaging Systems
  • Computed Tomography (CT)
  • Magnetic Resonance Imaging (MRI)
  • Ultrasound
  • Nuclear Imaging systems

By Application (Revenue, USD Billion):

The market for 3D Imaging has applications covering Cardiology, Neurology, Orthopaedics, Gynaecology, Oncology, and other areas of diagnostics as well. Cardiovascular diseases are the leading cause of death globally. The second biggest cause is cancers because of which Oncology holds the highest market share in the 3D Imaging market followed by cardiology as 3D imaging is highly utilized in these two segments for diagnostics and treatments of the same. Neurosurgeons desire three-dimensional (3D) imagery of intracranial tumors, neural structures, skulls, and veins to establish a clear visual image of the surgical field's anatomical orientation prior to surgical intervention aiding better surgical outcomes for patients. Obstetricians employ 3D ultrasound scans to see the gestational sac, pinpoint the location of an ectopic pregnancy, and evaluate for fetal deformities of the face, spine, limbs, and heart. 3D Imaging applications for gynecology are yet in evolving stage and have a great scope for expansion allowing feasible and quick patient care.

  • Cardiology
  • Neurology
  • Orthopedics
  • Gynecology
  • Oncology
  • Others (Urology, etc.)

By End User (Revenue, USD Billion):

Hospitals, Diagnostic Imaging Centers, and other end-user such as private clinics make up the segments of the 3D Imaging Market. The hospitals among these hold the biggest market share due to the increased uptake of cutting-edge medical technology, the expansion of existing 3D Imaging facilities, the rising affordability of 3D Imaging services, the rising prevalence of chronic conditions such as cardiovascular diseases, cancers, respiratory diseases which lead to rising in demand for precise and quick diagnostic and treatment options. Diagnostic Imaging Centers have also been deploying 3D Imaging equipment to improve their standard of care.

  • Hospitals
  • Diagnostic Imaging Centers
  • Other End Users

By Portability (Revenue, USD Billion):

The 3D Imaging market is divided into two segments Stationary & Mobile, considering the portability of the device. Stationary 3D imaging involves equipment that is installed at a particular location and is operated from the same location of installment whereas mobile ones can be relatively smaller in size and hence moved to the patients who are unable to locate the Imaging room. Mobile MRI, Ultrasound, X–ray & CT allow cutting-edge healthcare to be delivered to nearly any location and are yet in the developing stages of expansion.

  • Stationary
  • Mobile

Insights10 will provide you with the reports within 10 key parameters which are:

  1. Market Overview
  2. Market Growth Drivers & Restraints
  3. Epidemiology of Disease Type
  4. Market Segmentation
  5. Market Share
  6. Competitive Landscape
  7. Key Company Profiles
  8. Healthcare Policies & Regulatory Framework
  9. Reimbursement Scenario
  10. Factors Driving Future Growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

 

Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers, and researchers across countries through which we engage with local experts to gather key data points and assumptions about each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

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Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameters and micro indicators. The macro parameters include changes in government policies, demand and supply of the market, government intervention programs, and major market share. The micro indicators are GDP growth, market size, market volume, etc. We also understand nuances specific to each country like the US, Canada, India, Germany, etc., and have worked across 60+ countries and hence not only understand global trends but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. starting with the large overall market and segmenting different areas and the bottom-up approach i.e. starting with population and epidemiology and rolling up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach is mainly used for new product forecasting and the bottom-up approach is used for demand estimation of any product for different countries summed up to form the total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and  Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

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We make sure to finalize the numbers in alignment with the market research. Firstly, our internal experts ensure thorough validation and checking to ensure accurate and precise analysis and then validation is also done using a multiple-data analysis model. Two-level validation is done and entails the finalization of the report scope and the way of representation pattern.

 

 

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analyzed and synthesized. The second series of interviews are done if necessary to check and validate. The future opportunities are analyzed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results is then, interpreted by considering the following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing the regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue/volume
  • ​Analyzing current needs and determining penetration to estimate the market

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Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current, and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumption.

The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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Last updated on: 26 April 2023
Updated by: Ritu Baliya

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