Medical Technology - Croatia

Croatia

The Medical Technology market market in Croatia is expected to witness significant growth in the coming years.
According to projections, the revenue in this market is estimated to reach US$714.60m by 2024.
Among the various markets within the market, Medical Devices hold the largest share.
It is projected to have a market volume of US$600.10m by 2024, indicating its dominance in the industry.
Furthermore, the Medical Technology market market in Croatia is anticipated to exhibit a steady annual growth rate of 3.71% from 2024 to 2029.
This would result in a market volume of US$857.20m by 2029.
In a global context, it is worth noting that the United States is expected to generate the highest revenue in the Medical Technology market market.
With a projected revenue of US$210.00bn in 2024, the United States stands as the leading market in this sector.
Croatia is experiencing a surge in the adoption of advanced medical imaging technologies, revolutionizing diagnosis and treatment options in the country's healthcare system.

Key regions: United States, Germany, China, Japan, France

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Analyst Opinion

The Medical Technology market in Croatia is experiencing steady growth due to several factors. Customer preferences in the country are shifting towards more advanced and innovative medical technologies, driving the demand for these products. Additionally, local special circumstances and underlying macroeconomic factors are contributing to the development of the market. Customer preferences in Croatia are increasingly focused on medical technologies that offer improved patient outcomes and enhanced efficiency in healthcare delivery. Patients and healthcare providers alike are seeking solutions that can provide accurate diagnoses, minimize invasive procedures, and optimize treatment plans. This has led to a growing demand for medical technologies such as imaging systems, diagnostic equipment, and minimally invasive surgical tools. Furthermore, the aging population in Croatia is also driving the demand for medical technologies that can address age-related health issues and improve the quality of life for older individuals. Trends in the Medical Technology market in Croatia are aligned with global advancements in the industry. There is a growing emphasis on digital health solutions, including telemedicine, remote patient monitoring, and electronic health records. These technologies enable healthcare providers to deliver care more efficiently and effectively, especially in remote areas where access to healthcare services may be limited. Additionally, there is an increasing focus on personalized medicine, with advancements in genetic testing and precision therapies. This trend is driven by the desire to provide targeted treatments that are tailored to each patient's unique genetic makeup. Local special circumstances in Croatia also contribute to the development of the Medical Technology market. The country has a well-established healthcare system that is supported by both public and private sectors. This provides a strong foundation for the adoption of medical technologies and encourages investment in the sector. Furthermore, Croatia is a member of the European Union, which facilitates the import and export of medical technologies, allowing for a wider range of products to be available in the market. Underlying macroeconomic factors also play a role in the growth of the Medical Technology market in Croatia. The country has experienced stable economic growth in recent years, which has increased disposable income levels and improved access to healthcare services. This has resulted in a higher demand for medical technologies as individuals are willing to invest in their health and well-being. Additionally, government initiatives to modernize the healthcare system and improve healthcare infrastructure have also contributed to the development of the market. In conclusion, the Medical Technology market in Croatia is growing due to customer preferences for advanced and innovative medical technologies, global trends in the industry, local special circumstances, and underlying macroeconomic factors. As the country continues to invest in healthcare and prioritize patient care, the market is expected to further expand in the coming years.

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.