Nordic Ultrasound Market Outlook (2021-2031)

The Nordic ultrasound market size is expected to reach US$ 95.8 million by 2031 from US$ 67.9 million in 2024. The market is estimated to record a CAGR of 5.0% from 2025 to 2031.

Executive Summary and Nordic Ultrasound Market Analysis:

Nordic countries have one of the most advanced healthcare infrastructures in the world. Each of these countries provides publicly funded healthcare that is intended to deliver high quality procedures, making them early adopters of new medical technology. Sweden tends to be the leader in this regard, often establishing the benchmarks for practice and technology.

Demand for ultrasound continues to grow as the region faces an increasing aging population and higher rates of chronic illness. Hospitals and clinics prefer systems that provide precise, detailed images and can be used by many specialties, such as cardiology and musculoskeletal care. Another feature of this market is its focus on efficiency and digital connectivity. Healthcare providers increasingly want systems that can link easily across networks, so that the patient information can be shared smoothly within decentralized health systems.

Nordic Ultrasound Market Strategic Insights

Nordic Ultrasound Market Segmentation Analysis

Key segments that contributed to the derivation of the ultrasound market analysis are product type, portability, application, and end user.

• By product type, the ultrasound market is segmented into diagnostic ultrasound systems and therapeutic ultrasound systems. The diagnostic ultrasound systems segment dominated the market in 2024.
• By portability, the ultrasound market is segmented into portable/trolley-based devices and handheld devices. The portable/trolley-based devices segment dominated the market in 2024.
• By application, the ultrasound market is segmented into general imaging, cardiology, oncology, gynecology, orthopedics, urology, gastroenterology, and other. The general imaging segment dominated the market in 2024.
• By end user, the market is segmented into hospitals, specialty clinics, diagnostics imaging centers, ambulatory surgical centers, and others. The hospitals segment held the largest share of the market in 2024.

Nordic Ultrasound Market Outlook

The Nordic ultrasound market is growing steadily, supported by strong healthcare systems and a focus on innovation. Countries are investing in modern medical technologies, including advanced ultrasound devices. Hospitals and clinics are adopting portable and AI-powered systems to improve patient care and speed up diagnosis. Aging populations and rising chronic diseases are also increasing demand for non-invasive imaging. Public healthcare funding and private investments are helping expand access, especially in rural areas. The market favors high-quality, reliable equipment that fits into everyday clinical use. With a strong push for digital health and efficiency, the Nordic region is becoming a key player in shaping the future of ultrasound technology.

Nordic Ultrasound Market Country Insights

Based on country, the Nordic ultrasound market is further segmented into Sweden, Norway, Denmark, and Finland. Sweden held the largest share in 2024.

Sweden is a leader in the Nordic ultrasound market. This is mainly because of its highly developed healthcare system and a strong culture of innovation. To a large extent, its decentralized healthcare model allows local authorities to invest in advanced medical technologies to meet their specific needs. This system, along with a strong health insurance framework, ensures a steady flow of money for diagnostic equipment.

There is a high demand for cutting-edge ultrasound systems in Sweden. This is driven by rising incidences of chronic conditons, particularly heart conditions and cancer. The country is also a hub for research and development. In many cases, it is an early adopter of new technologies, including AI for diagnostic imaging. A proactive MedTech industry and a collaborative network of public and private healthcare providers help solidify Sweden's dominant position in the Nordic ultrasound market.

Nordic Ultrasound Market Report Highlights

Nordic Ultrasound Market Company Profiles

GE HealthCare, Siemens Healthineers AG, FUJIFILM Holdings Corporation, Canon Inc., Koninklijke Philips N.V., Esaote SPA, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Hologic Inc., Trivitron Healthcare, and Samsung Healthcare are among the key players operating in the market. These players adopt strategies such as expansion, product innovation, and mergers and acquisitions to stay competitive in the market and offer innovative products to their consumers.

Nordic Ultrasound Market Research Methodology:

The following methodology has been followed for the collection and analysis of data presented in this report:

• Secondary Research

The research process begins with comprehensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data for each market. Commonly referenced secondary research sources include, but are not limited to:

• Company websites, annual reports, financial statements, broker analyses, and investor presentations
• Industry trade journals and other relevant publications
• Government documents, statistical databases, and market reports
• News articles, press releases, and webcasts specific to companies operating in the market

Note: All financial data included in the Company Profiles section has been standardized to US$. For companies reporting in other currencies, figures have been converted to US$ using the relevant exchange rates for the corresponding year.

• Primary Research

Business Market Insights conducts a significant number of primary interviews each year with industry stakeholders and experts to validate and analyze the data and gain valuable insights. These research interviews are designed to:

• Refine findings from secondary research
• Enhance the expertise and market understanding of the analysis team
• Gain insights into market size, trends, growth patterns, competitive dynamics, and future prospects

Primary research is conducted via email interactions and telephone interviews with industry experts across various markets, categories, segments, and sub-segments in different regions. Participants typically include:

• Industry stakeholders: Vice Presidents, business development managers, market intelligence managers, and national sales managers
• External experts: Valuation specialists, research analysts, and key opinion leaders with industry-specific expertise

Nordic Ultrasound Market Country and Regional Insights

Nordic Ultrasound Key Sources Referred:

• The World Bank World Development Indicators
• World Health Organization (WHO)
• Center for Disease Control and Prevention (CDC)
• International Society of Ultrasound in Obstetrics and Gynecology (ISUOG)
• Radiological Society of North America (RSNA)
• American Institute of Ultrasound in Medicine (AIUM)
• National Institutes of Health (NIH)
• Global Cancer Observatory
• Company website
• Company annual reports
• Company investor presentations