General & Plastic Surgery Devices - Serbia

The General & Plastic Surgery Devices market market in Serbia is forecasted to achieve a revenue of US$27.19m in 2024.
It is expected to exhibit a compound annual growth rate (CAGR 2024-2029) of 7.20%, leading to a market size of US$38.50m by 2029.
Comparatively, the United States is projected to generate the highest revenue of US$9.84bn in 2024.
Serbia's growing demand for General & Plastic Surgery Devices reflects a rising interest in medical aesthetics and reconstructive procedures.

Definition:
The General & Plastic Surgery Devices market represents medical devices designed for general and plastic surgery procedures, such as disposable surgical supplies, open surgery instruments, minimally invasive surgery instruments.

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: Medtronic, Johnson & Johnson, Becton Dickinson, Conmed Corporation. Further information on the key players can be found in the Market Shares boxes.

Disposable surgical supplies
Open surgery instruments
Minimally invasive surgery instruments

Services (i.e., treatment expenses)
Blood and transplants derived from the human body
In vitro diagnostics
Diagnostic imaging

The General & Plastic Surgery Devices market in Serbia is experiencing steady growth due to increasing customer preferences for cosmetic procedures, advancements in technology, and favorable local special circumstances. Customer preferences in Serbia are shifting towards a greater emphasis on personal appearance and self-confidence, driving the demand for general and plastic surgery procedures. As the country becomes more affluent and globalized, there is a growing desire among individuals to achieve a certain aesthetic ideal. This trend is further fueled by the influence of social media and the desire to present oneself in the best possible light. As a result, there is a rising demand for devices used in general and plastic surgery procedures, such as surgical instruments, implants, and equipment. Trends in the market indicate a growing adoption of minimally invasive procedures in Serbia. This is driven by the preference for less invasive treatments that offer shorter recovery times and minimal scarring. Technological advancements in the field of general and plastic surgery devices have made it possible to perform complex procedures with greater precision and minimal invasiveness. This has led to an increase in the availability and popularity of devices such as lasers, injectables, and non-surgical body contouring devices. Local special circumstances in Serbia contribute to the development of the General & Plastic Surgery Devices market. The country has a well-established healthcare system and a growing number of specialized clinics and hospitals offering general and plastic surgery procedures. This provides individuals with easy access to a wide range of treatments and increases the demand for related devices. Additionally, Serbia has a competitive cost advantage compared to other European countries, attracting medical tourists from neighboring countries who seek affordable yet high-quality healthcare services. Underlying macroeconomic factors also play a role in the growth of the General & Plastic Surgery Devices market in Serbia. The country has been experiencing steady economic growth, leading to an increase in disposable income among the population. This allows individuals to invest in cosmetic procedures and drives the demand for related devices. Furthermore, the government has been actively promoting medical tourism in Serbia, attracting foreign patients and boosting the demand for general and plastic surgery procedures and devices. In conclusion, the General & Plastic Surgery Devices market in Serbia is developing due to changing customer preferences, advancements in technology, favorable local special circumstances, and underlying macroeconomic factors. The increasing emphasis on personal appearance, the adoption of minimally invasive procedures, the presence of a well-established healthcare system, and the growing disposable income among the population are all contributing to the growth of the market in Serbia.

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.