Market Insights Health Medical Technology Medical Devices

General & Plastic Surgery Devices - Hungary

Hungary

The General & Plastic Surgery Devices market market in Hungary is anticipated to achieve a revenue of US$39.84m by the year 2024.
It is predicted that the revenue will exhibit a compound annual growth rate (CAGR 2024-2029) of 4.49%, leading to a market volume of US$49.63m by 2029.
In terms of global comparison, the United States is expected to generate the highest revenue, amounting to US$9,844.00m in 2024.
Hungary's growing demand for General & Plastic Surgery Devices is fueled by the country's increasing focus on medical tourism and advancements in healthcare infrastructure.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The General & Plastic Surgery Devices market in Hungary is experiencing steady growth due to increasing customer preferences for cosmetic procedures, favorable market trends, local special circumstances, and underlying macroeconomic factors.

Customer preferences: In Hungary, there is a growing trend among customers to opt for cosmetic procedures to enhance their physical appearance. This includes both surgical and non-surgical treatments, such as breast augmentation, liposuction, facelifts, and botox injections. The desire for a more youthful and attractive appearance is driving the demand for general and plastic surgery devices in the country.

Trends in the market: One of the major trends in the General & Plastic Surgery Devices market in Hungary is the increasing adoption of minimally invasive procedures. Customers are increasingly opting for procedures that have shorter recovery times and minimal scarring. This has led to a rise in the demand for devices such as laser systems, injectables, and dermal fillers. Additionally, there is a growing demand for advanced technologies and innovative devices that provide better results and improve patient outcomes.

Local special circumstances: Hungary has established itself as a popular destination for medical tourism, including cosmetic procedures. The country offers high-quality healthcare services at a relatively lower cost compared to other European countries. This has attracted a significant number of international patients seeking cosmetic treatments. The influx of medical tourists has contributed to the growth of the General & Plastic Surgery Devices market in Hungary.

Underlying macroeconomic factors: The growing economy of Hungary has played a significant role in the development of the General & Plastic Surgery Devices market. With increasing disposable income and a higher standard of living, more individuals are able to afford cosmetic procedures. Additionally, the government has implemented favorable policies to encourage the growth of the healthcare sector, including the cosmetic surgery industry. This has created a conducive environment for the market to thrive. In conclusion, the General & Plastic Surgery Devices market in Hungary is witnessing steady growth due to customer preferences for cosmetic procedures, favorable market trends, local special circumstances, and underlying macroeconomic factors. The increasing demand for minimally invasive procedures, the popularity of Hungary as a medical tourism destination, and the country's growing economy are all contributing to the growth of 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.