Diabetes Care Devices - Serbia | Statista Market Forecast

Revenue in the Diabetes Care Devices market market in Serbia is projected to reach US$19.01m in 2024.
Revenue in this market is expected to exhibit an annual growth rate (CAGR 2024-2029) of 12.91%, leading to a market volume of US$34.89m by 2029.
In a global context, the majority of revenue will be generated the United States, with a figure of US$11.71bn in 2024.
In Serbia, the Diabetes Care Devices market is witnessing a growing adoption of innovative technologies, driven by increasing awareness and healthcare investments.

Definition:
The Diabetes Care Devices market, a medical technology market, includes medical devices used in the management and treatment of diabetes. These devices range from blood glucose meters and continuous glucose monitoring systems to insulin pumps, insulin pens, and other related accessories. It is important to note that the market does not include pharmaceutical products used in the treatment of diabetes, such as insulin and oral hypoglycemic agents.

Additional information:
Market values represent revenues paid to primary vendors at manufacturer price level either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), enterprises (B2B), and governments (B2G). Revenues are allocated to the country where the money is spent.

Key players in the market include Medtronic, Abbott Laboratories, and Roche Diagnostics. Further information on the key players can be found in the Market Shares boxes.

Blood glucose monitoring devices
Insulin delivery devices

Diabetes drugs
Diabetes supplements

The Diabetes Care Devices Market in Serbia is experiencing considerable growth, fueled by technological advancements, increasing diabetes prevalence, and heightened public awareness regarding diabetes management and prevention strategies.

Customer preferences: In Serbia, there is a notable shift towards personalized diabetes management solutions, with consumers increasingly favoring smart insulin delivery systems and blood glucose monitoring devices that integrate with mobile applications. This trend is influenced by a growing awareness of diabetes as a chronic condition, particularly among younger populations who value technology-enhanced health management. Additionally, lifestyle changes, such as rising health consciousness and dietary awareness, are prompting consumers to seek innovative solutions that support proactive diabetes care and prevention.

Trends in the market: In Serbia, the Diabetes Care Devices Market is experiencing a significant shift towards advanced monitoring and management solutions, driven by the rising prevalence of diabetes and a tech-savvy younger demographic. Consumers are increasingly adopting continuous glucose monitoring (CGM) systems and smart insulin pens that connect to mobile applications, enhancing real-time data tracking and personalized treatment. This trend reflects a broader movement towards proactive health management, influenced by heightened health awareness and lifestyle changes. For industry stakeholders, these developments present opportunities for innovation, partnerships, and expanded market reach, as they cater to an evolving consumer demand for integrated health solutions.

Local special circumstances: In Serbia, the Diabetes Care Devices Market is uniquely influenced by a blend of geographical and cultural factors, along with evolving regulatory frameworks. The country's healthcare system is transitioning towards modernization, with increased investment in digital health technologies. Cultural preferences for traditional medicine often coexist with a growing acceptance of innovative diabetes solutions. Additionally, regulatory support for medical device innovations is fostering a more competitive landscape, encouraging local startups to develop tailored solutions that address specific patient needs and enhance diabetes management.

Underlying macroeconomic factors: The Diabetes Care Devices Market in Serbia is shaped by macroeconomic factors such as national economic stability, demographic shifts, and healthcare expenditure trends. As Serbia's economy gradually recovers, increased public and private investment in healthcare infrastructure bolsters the demand for innovative diabetes management solutions. The rising prevalence of diabetes, coupled with an aging population, drives the need for advanced devices. Additionally, favorable fiscal policies aimed at enhancing healthcare access stimulate market growth. However, global economic fluctuations may pose challenges, influencing import costs and ultimately affecting the affordability of diabetes care technologies.

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

Medical technology plays a role in the lives of everyone. It includes most of all, medical devices which simplify the prevention, diagnosis, and treatment of diseases and illnesses. The most well-known medical technology products are, among others, pacemakers, imaging instruments, dialysis machines, and implants. The global medical technology industry was worth over 567 billion U.S. dollars annually. Established centers of this industry include North America and Western Europe. The United States is home to the world’s largest medical technology companies. As of 2022, Abbott Laboratories had the largest global revenue at over 31.2 billion U.S. dollars. The main focus of devices manufactured by the Chicago-based company are diagnostics, cardiovascular, and diabetes care. Two other medtech companies that round off the top three largest companies –Medtronic and Johnson & Johnson – are both based in the United States. Although, industry trends show that Asia, and in particular China, is about to play a more prominent role in the years to come.