Market Insights Health Medical Technology Medical Devices

Other Medical Devices - Croatia

Croatia

The revenue of the Other Medical Devices market market in Croatia is estimated to reach US$227.70m in 2024.
It is anticipated that the revenue will experience a compound annual growth rate (CAGR 2024-2029) of 2.99%, leading to a market volume of US$263.90m by 2029.
When compared globally, the United States is expected to generate the highest revenue, amounting to US$72,780.00m in 2024.
Croatia's Other Medical Devices market is witnessing a surge in demand for innovative and cost-effective solutions to enhance healthcare outcomes.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Other Medical Devices market in Croatia is experiencing significant growth and development in recent years.

Customer preferences: Customers in Croatia are increasingly seeking advanced and innovative medical devices to improve healthcare outcomes. They are looking for devices that are reliable, efficient, and cost-effective. There is a growing demand for devices that offer convenience and ease of use, as well as those that can be used in home healthcare settings. Additionally, customers are increasingly concerned about the safety and quality of medical devices and are willing to invest in products that meet high standards.

Trends in the market: One of the key trends in the Other Medical Devices market in Croatia is the adoption of digital and connected devices. These devices leverage technology to provide real-time monitoring and data analysis, allowing healthcare professionals to make more informed decisions and provide better care to patients. The use of telemedicine and remote monitoring devices is also on the rise, enabling patients to receive healthcare services from the comfort of their homes. Another trend in the market is the increasing focus on personalized medicine. Medical devices that can be customized to individual patients' needs are gaining popularity. This includes devices such as prosthetics and orthotics that can be tailored to fit the specific requirements of each patient. Additionally, there is a growing demand for devices that can be used for minimally invasive procedures, as they offer shorter recovery times and reduced risks compared to traditional surgical methods.

Local special circumstances: Croatia has a well-developed healthcare system, which provides a favorable environment for the growth of the Other Medical Devices market. The government has been investing in the modernization of healthcare facilities and the adoption of advanced medical technologies. This has created opportunities for both domestic and international medical device manufacturers to enter the market and offer their products. Furthermore, Croatia is a popular destination for medical tourism. Many patients from neighboring countries come to Croatia for medical treatments, including surgeries and specialized procedures. This has created a demand for high-quality medical devices that can cater to the needs of international patients.

Underlying macroeconomic factors: The growth of the Other Medical Devices market in Croatia is also influenced by macroeconomic factors. The country has experienced stable economic growth in recent years, which has increased the purchasing power of consumers. This has led to an increase in healthcare spending, including the purchase of medical devices. Additionally, Croatia is a member of the European Union, which provides access to a larger market and regulatory harmonization. This has made it easier for medical device manufacturers to enter the Croatian market and comply with European standards and regulations. In conclusion, the Other Medical Devices market in Croatia is witnessing significant growth and development, driven by customer preferences for advanced and innovative devices, the adoption of digital and connected devices, and the focus on personalized medicine. The favorable local circumstances, such as a well-developed healthcare system and medical tourism, further contribute to the market's growth. Additionally, macroeconomic factors, including stable economic growth and EU membership, play a role in shaping 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.