The Pharmaceutical Market: Serbia (pdf/xls)

Additional Information

THE PHARMACEUTICAL MARKET: SERBIA - REVIEW

The economic situation is improving in Serbia; the economy is expected to grow by a moderate figure in 2011 and by an average 4.3% per annum between 2012 and 2016. Inflation has been fuelled by several administrative price increases, but is expected to fall by the end of 2011. Health expenditure growth will be slightly stronger than economic growth. In terms of the percentage of GDP spent on health, Serbia has the highest level of healthcare expenditure in the region. Most health spending is in the public sector, channelled through the obligatory health insurance system. Private sector expenditure is growing and accounts for an estimated 39.9% of the total in 2011, worth US$2.0 billion.

The Serbian pharmaceutical industry is well developed. The largest producers are Galenika, Hemofarm and Zdravlje, which together account for around 90% of domestic drug production. Most companies are privately-owned. In June 2010, Galenika opened a new solid pharmaceutical products factory, which will assist the company in becoming a regional leader in the sector. Foreign manufacturers are slowly increasing their presence in the country. At the end of 2010, the Serbian subsidiary of PharmaSwiss started the construction of a pharmaceutical manufacturing unit in Belgrade, which will allow it to extend its operations in Serbia from mainly repackaging and distribution, to end-to-end manufacturing.

The Serbian pharmaceutical market is one of the smallest in Central & Eastern Europe. Serbia has one of the lowest pharmaceutical per capita expenditures in the region, with spending similar to that found in Russia. However, the market is projected to increase by a moderate CAGR in the 2011-2016 period. This is one of the highest growth rates in the region, similar to Poland or Romania. The market is driven by strong import growth, although a decline was recorded in 2009 and 2010. Economic recovery will help to boost the expansion of the pharmaceutical market. In 2016, the Serbian pharmaceutical market will rank tenth in Central & Eastern Europe, similar to Bulgaria.

ENHANCED STRATEGIC INTELLIGENCE

Espicom's highly regarded world pharmaceutical market reports have been redesigned to provide enhanced strategic intelligence in a user-friendly format. Each report provides in-depth information, setting the pharmaceutical market in context. The reports provide:

• Five-year projections for economic, demographic, health expenditure, health workforce and pharmaceutical market indicators.
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• Exclusive economic and demographic data from the Economist Intelligence Unit (EIU) for each market in the series.
• A separate statistical health file, comprising health expenditure, health infrastructure, health services and health personnel.
• The reports are updated quarterly, providing you with the latest information for a full year. In addition, the service will keep you up to date with market and industry news on a regular basis.

HEALTHCARE STATISTICS

A comprehensive tabula review, comprising demographics, epidemiology, health expenditure, hospital and primary care infrastructure & services and healthcare personnel, is additionally included.