Market Insights Health Medical Technology Medical Devices

Orthopedic Devices - Croatia

Croatia

The projected revenue in the Orthopedic Devices market market in Croatia is estimated to reach US$59.18m in 2024.
It is anticipated that the revenue will exhibit an annual growth rate (CAGR 2024-2029) of 2.60%, leading to a market volume of US$67.28m by 2029.
When compared globally, the United States is expected to generate the highest revenue, amounting to US$16,020.00m in 2024.
Croatia's growing demand for orthopedic devices is driven by an aging population and an increase in sports-related injuries.

Key regions: France, Netherlands, Europe, Germany, Japan

Market

Region

Region comparison

Currency

Analyst Opinion

The Orthopedic Devices market in Croatia is experiencing steady growth due to increasing customer preferences for advanced medical devices and the rising incidence of orthopedic disorders.

Customer preferences: Customers in Croatia are increasingly opting for technologically advanced orthopedic devices that offer better precision and improved patient outcomes. They are willing to invest in innovative products that provide enhanced functionality and durability. With the growing awareness about the benefits of minimally invasive procedures, there is a rising demand for orthopedic devices that enable less invasive surgeries and faster recovery times. Additionally, customers are also seeking personalized orthopedic solutions that are tailored to their specific needs and preferences.

Trends in the market: One of the key trends in the Orthopedic Devices market in Croatia is the increasing adoption of robotic-assisted orthopedic surgeries. Robotic systems are being used to assist surgeons in performing complex procedures with greater accuracy and precision. These systems offer real-time feedback and enable surgeons to make more informed decisions during surgery. The use of robotics in orthopedic surgeries is expected to continue to grow in the coming years as the technology becomes more advanced and affordable. Another trend in the market is the growing popularity of 3D printing in the production of orthopedic devices. 3D printing allows for the customization of implants and prosthetics, ensuring a better fit and improved patient comfort. It also enables the production of complex geometries that would be difficult to achieve using traditional manufacturing methods. The ability to rapidly prototype and manufacture orthopedic devices using 3D printing technology is driving its adoption in the market.

Local special circumstances: Croatia has a rapidly aging population, which is contributing to the increasing demand for orthopedic devices. As people age, they are more prone to orthopedic disorders such as osteoarthritis and fractures, which require the use of orthopedic devices for treatment and rehabilitation. The government of Croatia has recognized the need to address the healthcare needs of the elderly population and has been investing in the development of healthcare infrastructure and the procurement of advanced medical devices.

Underlying macroeconomic factors: The Orthopedic Devices market in Croatia is also influenced by macroeconomic factors such as the country's GDP growth, healthcare expenditure, and reimbursement policies. As the economy of Croatia continues to grow, there is a corresponding increase in healthcare spending, which is driving the demand for orthopedic devices. The government's efforts to improve healthcare infrastructure and provide better access to healthcare services are also contributing to the growth of the market. In conclusion, the Orthopedic Devices market in Croatia is witnessing steady growth due to increasing customer preferences for advanced medical devices, the adoption of robotic-assisted surgeries, and the use of 3D printing technology. The country's aging population and government initiatives to improve healthcare infrastructure are also driving the demand for orthopedic devices.

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.