Sweden Medical Device Outsourcing Market Size & Outlook
Sweden medical device outsourcing market, 2018-2030 (US$M)
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Sweden medical device outsourcing market highlights
- The Sweden medical device outsourcing market generated a revenue of USD 588.8 million in 2022 and is expected to reach USD 1,551.0 million by 2030.
- The Sweden market is expected to grow at a CAGR of 12.9% from 2023 to 2030.
- In terms of segment, contract manufacturing was the largest revenue generating service in 2022.
- Quality Assurance is the most lucrative service segment registering the fastest growth during the forecast period.
Medical device outsourcing market data book summary
| Market revenue in 2022 | USD 588.8 million |
| Market revenue in 2030 | USD 1,551.0 million |
| Growth rate | 12.9% (CAGR from 2022 to 2030) |
| Largest segment | Contract manufacturing |
| Fastest growing segment | Quality Assurance |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Quality Assurance, Regulatory Affairs Services, Product Design and Development Services, Product Testing & Sterilization Services, Product Implementation Services, Product Upgrade Services, Product Maintenance Services, Contract Manufacturing |
| Key market players worldwide | SGS AG, Labcorp Holdings Inc, Eurofins Scientific SE, Pace Analytical Services, Intertek Group PLC, Wuxi AppTec Co Ltd, Sotera Health Co Ordinary Shares, Charles River Laboratories International Inc, Medical Device Testing Services, FREYR Battery Inc, PAREXEL, Accell, Genpact Ltd, Criterium Inc., Promedica International, Medpace Holdings Inc, Icon PLC, IQVIA Holdings Inc, Integer Holdings Corp, Tecomet, Jabil Inc, Flex Ltd, Celestica Inc Ordinary Shares (Subordinate Voting), Sanmina Corp, Plexus Corp, Molex, Steris PLC, West Pharmaceutical Services Inc, NAMSA, TUV SUD, RJR Consulting, Mandala International, Global Regulatory Partners, Emergo Group, BioTeknica Engineering & Regulatory Services |
Other key industry trends
- In terms of revenue, Sweden accounted for 0.5% of the global medical device outsourcing market in 2022.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Europe, Germany medical device outsourcing market is projected to lead the regional market in terms of revenue in 2030.
- Sweden is the fastest growing regional market in Europe and is projected to reach USD 1,551.0 million by 2030.
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Medical Device Outsourcing Market Scope
Medical Device Outsourcing Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Sweden medical device outsourcing market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to medical device outsourcing market will help companies and investors design strategic landscapes.
Contract manufacturing was the largest segment with a revenue share of 54.74% in 2022. Horizon Databook has segmented the Sweden medical device outsourcing market based on quality assurance, regulatory affairs services, product design and development services, product testing & sterilization services, product implementation services, product upgrade services, product maintenance services, contract manufacturing covering the revenue growth of each sub-segment from 2018 to 2030.
According to Business Monitor International, Sweden is the fourth most attractive market in Western Europe for the commercialization of medical devices. Domestic production is strong in areas such as hospital wheelchairs, sterilizers, and blood pressure monitors. The majority of the local production is for export. The medical device manufacturing industry in Sweden is relatively small and employs approximately 18,000 people.
The majority of manufacturing firms are small to mid-size companies with a small number of MNCs having their own local subsidiaries. The International Trade Administration states that Sweden’s healthcare system is one of the most well developed healthcare systems in the world. The average life expectancy in the country is 84 years for women and 81 years for men.
The country has one of the oldest geriatric population in the world, which is 19.8%. This is increasing the demand for medical devices in the country, thereby creating opportunities for market players in Sweden. Some key players operating in the country are Charles River Laboratories, Laboratory Corporation of America Holdings, and Parexel International Corporation.
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Target buyers of Sweden medical device outsourcing market databook
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Our clientele includes a mix of medical device outsourcing market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the Sweden medical device outsourcing market , including forecasts for subscribers. This country databook contains high-level insights into Sweden medical device outsourcing market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Sweden medical device outsourcing market size, by service, 2018-2030 (US$M)
Sweden Medical Device Outsourcing Market Outlook Share, 2022 & 2030 (US$M)
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