The Croatian market for pacemakers and hearing aids has declined significantly from 2018 to 2023, decreasing from 31.5 to 22.71 thousand units. The year-on-year changes illustrate a consistent downturn, especially notable with a -6.85% change in 2023. Over the past five years, the compound annual growth rate (CAGR) depicts an alarming average annual decline of -6.34%, reflecting a sharp contraction in market demand or possibly improvements in device longevity reducing replacement needs.
Future trends to watch include the potential impact of technological advancements that could revitalize interest and adoption, as well as the demographic shifts such as an aging population which could reverse the declining trend as the demand potentially recovers to support elderly healthcare needs.
