Market Insights Health Medical Technology Medical Devices

Other Medical Devices - Portugal

Portugal

In Portugal, the revenue in the market of Other Medical Devices market is expected to reach US$0.70bn in 2024.
Looking ahead, the revenue is projected to grow at an annual growth rate of 3.96% (CAGR 2024-2029), resulting in a market volume of US$0.85bn by 2029.
When comparing globally, it is worth noting that the United States is expected to generate the highest revenue, reaching a staggering US$58,900.00m in 2024.
Portugal's Other Medical Devices market is thriving, with a focus on innovative solutions and a strong emphasis on improving patient outcomes.

Key regions: United Kingdom, China, Netherlands, Europe, Italy

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Analyst Opinion

The Other Medical Devices market in Portugal is experiencing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors are all contributing to this positive trend. Customer preferences in the Other Medical Devices market in Portugal are shifting towards more advanced and innovative products. Customers are increasingly seeking medical devices that offer higher levels of accuracy, efficiency, and convenience. This demand for advanced technology is driving manufacturers to develop and introduce new and improved products in the market. Additionally, customers are also placing a greater emphasis on the quality and safety of medical devices, leading to increased regulations and standards in the industry. Trends in the market indicate a growing focus on preventive healthcare and home-based medical devices. With an aging population and rising healthcare costs, there is a growing need for medical devices that can help individuals monitor and manage their health conditions from the comfort of their own homes. This trend is driving the development of portable and user-friendly medical devices that can be easily used by individuals without medical training. Furthermore, there is an increasing demand for wearable devices that can track and monitor various health parameters, such as heart rate, blood pressure, and glucose levels. Local special circumstances in Portugal are also contributing to the development of the Other Medical Devices market. The country has a well-established healthcare system and a high level of healthcare expenditure. This provides a favorable environment for the growth of the medical devices industry, as healthcare providers and patients have access to the necessary infrastructure and resources. Additionally, Portugal has a strong focus on research and development in the healthcare sector, which is driving innovation and technological advancements in the market. Underlying macroeconomic factors, such as economic growth and government initiatives, are also playing a role in the development of the Other Medical Devices market in Portugal. The country has experienced steady economic growth in recent years, which has increased consumers' purchasing power and affordability of medical devices. Furthermore, the Portuguese government has implemented various initiatives to promote the use of advanced medical technologies and improve healthcare outcomes. These initiatives include investment in healthcare infrastructure, research and development grants, and tax incentives for medical device manufacturers. In conclusion, the Other Medical Devices market in Portugal is witnessing significant growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The focus on advanced technology, preventive healthcare, and home-based medical devices, coupled with Portugal's well-established healthcare system and supportive government initiatives, are driving the positive trend in the market.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on medical devices and IVD revenues allocated to the country where the money is spent at manufacturer price levels excluding VAT.

Modeling approach / Market size:

Modeling employs a top-down approach with a bottom-up validation, using financial information of the key players by market. Market sizes are determined by a top-down approach, based on a specific rationale for each market market and allocated to the covered countries according to the global market shares. As a basis for evaluating markets, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare system, and regulations concerning medical products. Next, we use further relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare payer system, and regulations concerning medical products. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.