What is the current market share of MMSI in the Nordics 
bout on label use now, $100 million, $150 million globally. One of the things we try to do, Mike, is when we went into this, we wanted to go in and get to the market the fastest way we could and develop the technology. Even that took seven years, so it's been a long time. And we're looking forward to the business.
And depending -- we should hopefully will come out in a very specific layout markets strategies. Those that we can release we'll talk about separately into a press release and a conference -- press conference, the days shortly following the approvals, and we'll make those announcements should they come. Now if they don't come from Europe, then we'll -- we're ready to start the IDE and then work toward the PMA approval. So we're on track.
We've built all that product right here in Salt Lake City, and it's very exciting for the future. The technology, the broad area of the technology is something that we'll be doing for many, many years to come.
Mike Matson -- Needham and Company -- Analyst
Thank you.
Fred Lampropoulos -- Chairman and Chief Executive Officer
You bet, Mike. Thank you.
Operator
Our next question comes from Matthew O'Brien with Piper Sandler. Your line is now open.
Matthew O'Brien -- Piper Sandler -- Analyst
Thanks for taking my question. Afternoon, everybody. Fred and Raul, can we just start with Utah specifically? I know it's a smaller U.S. market, specifically from a state perspective.
But you guys there, you've had this conversation with the governor yesterday about opening things back up. I think the moratorium on elective procedures started roughly a month ago. I think it was March 23. So can you talk about what you saw? I mean, is your elective business down 70%, 80%-ish in the first three weeks of the quarter, expect things to maybe stabilize a little bit next month and then maybe get back to a little bit of growth in June? Is that a fair way to think about how the quarter can kind of play out just in Utah alone?
Fred Lampropoulos -- Chairman and Chief Executive Officer
Yes. I said that I would kind of stay on track. I would tell you that I saw the very same things that many saw in the Johnson & Johnson and some of these other reports. Our business is not seeing those kinds of declines or anywhere close to those.
Raul, I'm going to let you maybe talk about this, so I can stay out of trouble, but then you can get yourself into trouble.
Raul Parra -- Chief Financial Officer and Treasurer
I'll give you guys some color because I think I'm going to try and dance around this a little bit, Matt, because, obviously, we want to make sure that we don't -- the reality is that there's a lot of variables, and I'll get into those here in a minute. But I think if you look at our OEM business, which is roughly 10% of our business that seems to be stable, OK? So you can pull that off the table from whatever you projected for that. I think the Nordics is around a $20 million business for us. That seems to be either stable or just a little bit above what we forecasted.
So that's stable business. China, you guys know, is about 11% of our business. That seems to be coming back a little bit, right? But Fred mentioned it. There was news today that maybe things are picking up again.
So that's -- and I think the hard part about this is that you've got China which gives us a very good footprint of what to expect. The problem is that the rest of the world is not going to act like China, we don't think, because, one, the government in China can force certain narratives and certain processes. What you have with the rest of the world is that you've got individual countries at different parts of the curve. You've got different states here in the U.S.
at different parts of the curve. You've got countries and states that have different policies, and then you have the added component of patients and how they're going to react to either, a, not wanting to go to the hospital or going to the hospital. And so it's just -- there's just a ton of moving parts, and so it's hard to kind of give you anything more than that.
Fred Lampr
bout on label use now, $100 million, $150 million globally. One of the things we try to do, Mike, is when we went into this, we wanted to go in and get to the market the fastest way we could and develop the technology. Even that took seven years, so it's been a long time. And we're looking forward to the business.
And depending -- we should hopefully will come out in a very specific layout markets strategies. Those that we can release we'll talk about separately into a press release and a conference -- press conference, the days shortly following the approvals, and we'll make those announcements should they come. Now if they don't come from Europe, then we'll -- we're ready to start the IDE and then work toward the PMA approval. So we're on track.
We've built all that product right here in Salt Lake City, and it's very exciting for the future. The technology, the broad area of the technology is something that we'll be doing for many, many years to come.
Mike Matson -- Needham and Company -- Analyst
Thank you.
Fred Lampropoulos -- Chairman and Chief Executive Officer
You bet, Mike. Thank you.
Operator
Our next question comes from Matthew O'Brien with Piper Sandler. Your line is now open.
Matthew O'Brien -- Piper Sandler -- Analyst
Thanks for taking my question. Afternoon, everybody. Fred and Raul, can we just start with Utah specifically? I know it's a smaller U.S. market, specifically from a state perspective.
But you guys there, you've had this conversation with the governor yesterday about opening things back up. I think the moratorium on elective procedures started roughly a month ago. I think it was March 23. So can you talk about what you saw? I mean, is your elective business down 70%, 80%-ish in the first three weeks of the quarter, expect things to maybe stabilize a little bit next month and then maybe get back to a little bit of growth in June? Is that a fair way to think about how the quarter can kind of play out just in Utah alone?
Fred Lampropoulos -- Chairman and Chief Executive Officer
Yes. I said that I would kind of stay on track. I would tell you that I saw the very same things that many saw in the Johnson & Johnson and some of these other reports. Our business is not seeing those kinds of declines or anywhere close to those.
 Raul, I'm going to let you maybe talk about this, so I can stay out of trouble, but then you can get yourself into trouble.
Raul Parra -- Chief Financial Officer and Treasurer
I'll give you guys some color because I think I'm going to try and dance around this a little bit, Matt, because, obviously, we want to make sure that we don't -- the reality is that there's a lot of variables, and I'll get into those here in a minute. But I think if you look at our OEM business, which is roughly 10% of our business that seems to be stable, OK? So you can pull that off the table from whatever you projected for that. I think the Nordics is around a $20 million business for us. That seems to be either stable or just a little bit above what we forecasted.
So that's stable business. China, you guys know, is about 11% of our business. That seems to be coming back a little bit, right? But Fred mentioned it. There was news today that maybe things are picking up again.
So that's -- and I think the hard part about this is that you've got China which gives us a very good footprint of what to expect. The problem is that the rest of the world is not going to act like China, we don't think, because, one, the government in China can force certain narratives and certain processes. What you have with the rest of the world is that you've got individual countries at different parts of the curve. You've got different states here in the U.S.
at different parts of the curve. You've got countries and states that have different policies, and then you have the added component of patients and how they're going to react to either, a, not wanting to go to the hospital or going to the hospital. And so it's just -- there's just a ton of moving parts, and so it's hard to kind of give you anything more than that.
Fred Lampr