Once we at SwedenBIO took the decision to look into the Swedish medtech landscape, I have been excited about what this will mean for the many companies with emerging technologies that have the potential to disrupt the market and make a real difference in healthcare and for patients.

The Swedish medtech sector is truly impressive, with innovative companies developing a plethora of groundbreaking technologies. However, there are many hurdles along the way, especially for start-ups and young companies with limited resources. From my personal experience, having worked in medtech SMEs for several years, I know that access to capital, both in the early stages and during commercialization, is crucial for innovations to reach patients. Yet unfortunately, access to funding has become increasingly scarce.

Through the survey we have launched and the report it will result in, I hope we can showcase Swedish medtech innovations both nationally and internationally, highlighting the remarkable efforts of Swedish companies while also demonstrating the importance and potential of the sector as a whole.

Medtech sits at the nexus of engineering and medicine, with digital technology rapidly becoming an integral part of many medtech products. With Sweden’s long history in engineering and medicine as well as the more recent rise in digital tech, it is no wonder that we have an impressive medtech industry.

Swedish exports of medical technology reached SEK 41.7 billion in 2024 and have grown by an impressive 74% since 2015, corresponding to an average annual growth rate of six percent.

In fact, Sweden can be considered a global leader in medical technology, renowned for historic breakthroughs like the implantable pacemaker, the Gamma Knife, and the dialysis machine, to name but a few of the Swedish inventions that have helped countless patients around the world for decades. And we continue to innovate at a high rate. Current Swedish medtech companies like Inossia, which works on injectable biomaterial for bone regeneration and Fluicell with its precision drug delivery and bioprinting using microfluidics, together with many other young innovative companies, are a testament to a continuing tradition of Swedish medtech excellence.
The numbers speak for themselves. According to Vinnova, there were around 2200 Swedish companies in 2024 engaged in the development, manufacturing, distribution and/or marketing of one or more medical devices, including digital health solutions and in vitro diagnostics (IVD). Swedish exports of medical technology reached SEK 41.7 billion in 2024 and have grown by an impressive 74% since 2015, corresponding to an average annual growth rate of six percent.
While Sweden undeniably has a strong and highly innovative medtech sector, its breadth and potential are not always fully recognized internationally. There is a lack of visibility that risks translating into missed opportunities for funding, partnerships and investment.

For all its successes and potential, the industry remains under the radar for decision makers and investors alike. SwedenBIO has decided to change this.

A search on the internet for “Swedish medtech” gives meager results. While many cite the number of companies and the impressive export numbers, there are few real insights into the composition of companies, the technologies or stories behind them. For all its successes and potential, the industry remains under the radar for decision makers and investors alike. SwedenBIO has decided to change this. Through the survey we launched earlier this year, we aim to create a comprehensive mapping of Swedish medtech innovation while showcasing the companies driving the sector forward.

By collecting information on companies, technologies and development stages, the survey will help create a structured overview of the Swedish medtech landscape. The results will be compiled into the Swedish Medtech Innovation Pipeline Report, providing an overview of the diversity and innovation capacity of the Swedish medtech pipeline and the strengths of Sweden’s medtech ecosystem.

The report will also be actively used by SwedenBIO in dialogues with national and international investors, industry partners, policymakers, and other stakeholders to promote Swedish medtech.

The report is intended to increase the national and international visibility of Swedish medtech innovations, facilitate partnerships, and highlight investment opportunities. It will serve as a showcase for Swedish medtech, helping to create new opportunities for the companies. The report will also be actively used by SwedenBIO in dialogues with national and international investors, industry partners, policymakers, and other stakeholders to promote Swedish medtech.

As a former medtech co-founder and Chief Marketing Officer, I would have been delighted to have help shine a spotlight on Swedish medtech. I hope that the companies in the industry will recognize the opportunity and seize it by participating in the survey. 

participate in the survey here
about the author

This Column was originally written by Joanna Daffy Tiitus, National Director, SwedenBIO, for NLS magazine No 03 2026, out September, 2026. Photo: Eva Garmendia