Diagnostic Imaging Devices - Serbia

The Diagnostic Imaging Devices market market in Serbia is anticipated to achieve a revenue of US$51.41m in 2024.
This market is expected to exhibit an annual growth rate of 5.33% (CAGR 2024-2029), leading to a market volume of US$66.63m by 2029.
When compared globally, the United States is projected to generate the highest revenue in this market, amounting to US$11.93bn in 2024.
Serbia's diagnostic imaging device market is experiencing a steady growth due to increased demand for advanced medical technology.

Definition:
The market covers diagnostic imaging devices such as X-ray systems, ultrasound systems, computed tomography scanners, Magnetic resonance imaging (MRT) systems, and related components.

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) as well as governments (B2G). Revenues are allocated to the country where the money is spent.

Company examples: Siemens Healthineers, General Electric, Philips, Fujifilm Holdings. Further information on the key players can be found in the Market Shares boxes.

X-ray systems
Computed tomography (CT) scanners
Magnetic resonance imaging (MRT) systems
Positron emission tomography (PET) scanners

Non-imaging diagnostics
In vitro diagnostics (IVD)

The Diagnostic Imaging Devices market in Serbia is experiencing steady growth due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in Serbia are driving the demand for Diagnostic Imaging Devices. Patients and healthcare providers in the country are increasingly seeking advanced imaging technologies for accurate diagnosis and treatment. This preference for high-quality imaging devices is contributing to the growth of the market. Trends in the market also play a significant role in the development of the Diagnostic Imaging Devices market in Serbia. One of the key trends is the increasing adoption of digital imaging technologies. Digital imaging offers several advantages over traditional film-based imaging, such as faster image acquisition, easier storage and retrieval of images, and the ability to enhance and manipulate images for better diagnosis. The shift towards digital imaging is driving the demand for advanced diagnostic imaging devices in the country. Another trend in the market is the growing demand for portable and handheld imaging devices. These devices are compact, lightweight, and offer convenience and flexibility in imaging procedures. They are particularly useful in remote areas or during emergencies where access to traditional imaging facilities is limited. The demand for portable and handheld imaging devices is driven by the need for quick and efficient diagnosis in various healthcare settings. Local special circumstances in Serbia also contribute to the development of the Diagnostic Imaging Devices market. The country has been investing in the modernization of healthcare infrastructure, including the upgrade of medical imaging facilities. This investment is aimed at improving the quality of healthcare services and attracting medical tourists. The government has also implemented favorable policies to support the adoption of advanced imaging technologies, further driving the market growth. Underlying macroeconomic factors are also influencing the development of the Diagnostic Imaging Devices market in Serbia. The country's improving economic conditions and rising disposable incomes are enabling individuals to afford better healthcare services, including advanced diagnostic imaging. Additionally, the increasing prevalence of chronic diseases and the aging population are driving the demand for diagnostic imaging devices for early detection and monitoring of diseases. In conclusion, the Diagnostic Imaging Devices market in Serbia is experiencing growth due to customer preferences for advanced imaging technologies, trends such as the adoption of digital imaging and portable devices, local special circumstances including infrastructure modernization and government support, and underlying macroeconomic factors such as improving economic conditions and rising healthcare needs.

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.