Market Size of Sweden In-Vitro Diagnostics Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.20 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Sweden In-Vitro Diagnostics Market Analysis
The Swedish in vitro diagnostics market is expected to witness a CAGR of 5.2% during the forecast period.
- Certain factors that are driving the market growth include high prevalence of chronic diseases, increasing use of point-of-care (POC) diagnostics, advanced technologies, and increasing awareness and acceptance of personalized medicine and companion diagnostics.
- Rising geriatric population is expected to be one of the major factor impacting growth of the market. According to Statistics Sweden's population projection, in 2018, the share of people aged 80 and older will increase most to 19.86% of total population, and in 2028, their share is expected to be 255,000 more people than today, an increase of 50 percent.
- Effective management of patients with one or more chronic disease is a commonly debated concern in Sweden. More effective primary care delivery may increase the overall efficiency and responsiveness of the health system. Hence, the increasing health expenditure in the country is expected to fuel the market growth over the forecast period.
Sweden In-Vitro Diagnostics Industry Segmentation
As per the scope of this report, in vitro diagnostics involves medical devices and consumables that are utilized to perform in vitro tests on various biological samples. They are used for the diagnosis of various medical conditions, such as chronic diseases.
| By Test Type | |
| Clinical Chemistry | |
| Molecular Diagnostics | |
| Immuno Diagnostics | |
| Haematology | |
| Other Types |
| Product | |
| Instrument | |
| Reagent | |
| Other Products |
| Usability | |
| Disposable IVD Devices | |
| Reusable IVD Devices |
| Application | |
| Infectious Disease | |
| Diabetes | |
| Cancer/Oncology | |
| Cardiology | |
| Autoimmune Disease | |
| Other Applications |
| End Users | |
| Diagnostic Laboratories | |
| Hospitals & Clinics | |
| Other End Users |
Sweden In-Vitro Diagnostics Market Size Summary
The Swedish in vitro diagnostics market is poised for steady growth, driven by several key factors. The increasing prevalence of chronic diseases and the rising geriatric population are significant contributors to this expansion. The market is also benefiting from the growing adoption of point-of-care diagnostics and advancements in technology. Additionally, there is a heightened awareness and acceptance of personalized medicine and companion diagnostics, which are further propelling market growth. The effective management of chronic diseases and the emphasis on improving primary care delivery are expected to enhance the efficiency of the healthcare system, thereby increasing health expenditure and supporting market development.
The market landscape is characterized by a high level of competition, with major players such as Abbott Laboratories, Becton, Dickinson and Company, Bio-Rad Laboratories Inc., Danaher Corporation, Johnson & Johnson, Roche Diagnostics, Siemens Healthcare, and Thermo Fisher Scientific Inc. holding substantial market shares. The reagent segment, which includes chemical, biological, or immunological components used in the in vitro diagnosis process, plays a crucial role in the market. Given the high cost of diagnostic platforms, leasing equipment and tying it to contracts for purchasing associated reagents or assays is a common practice, ensuring cyclic revenues for manufacturers. This dynamic, coupled with the strategic positioning of leading companies, underscores the competitive nature and growth potential of the Swedish in vitro diagnostics market.
Sweden In-Vitro Diagnostics Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 High Prevalence of Chronic Diseases
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1.2.2 Increasing Use of Point-of-care (POC) Diagnostics
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1.2.3 Increasing Awareness and Acceptance of Personalized Medicine and Companion Diagnostics
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1.3 Market Restraints
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1.3.1 Stringent Regulations
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1.3.2 Cumbersome Reimbursement Procedures
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Test Type
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2.1.1 Clinical Chemistry
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2.1.2 Molecular Diagnostics
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2.1.3 Immuno Diagnostics
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2.1.4 Haematology
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2.1.5 Other Types
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2.2 Product
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2.2.1 Instrument
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2.2.2 Reagent
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2.2.3 Other Products
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2.3 Usability
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2.3.1 Disposable IVD Devices
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2.3.2 Reusable IVD Devices
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2.4 Application
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2.4.1 Infectious Disease
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2.4.2 Diabetes
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2.4.3 Cancer/Oncology
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2.4.4 Cardiology
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2.4.5 Autoimmune Disease
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2.4.6 Other Applications
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2.5 End Users
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2.5.1 Diagnostic Laboratories
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2.5.2 Hospitals & Clinics
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2.5.3 Other End Users
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Sweden In-Vitro Diagnostics Market Size FAQs
What is the current Sweden In-Vitro Diagnostics Market size?
The Sweden In-Vitro Diagnostics Market is projected to register a CAGR of 5.20% during the forecast period (2024-2029)
Who are the key players in Sweden In-Vitro Diagnostics Market?
Abbott Laboratories, Becton, Dickinson, and Company, Bio-Rad Laboratories, Inc., Danaher Corporation and Thermo Fisher Scientific Inc. are the major companies operating in the Sweden In-Vitro Diagnostics Market.
