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Published by: Business Monitor International
Published: Oct. 1, 2006 - 71 Pages
Table of Contents
- Chapter 1 - Executive Summary
- Serbia & Montenegro Pharmaceuticals & Healthcare Industry SWOT
- Serbia & Montenegro Political SWOT
- Serbia & Montenegro Economic SWOT
- Serbia & Montenegro Business Environment SWOT
- Chapter 2 - Business Environment Rankings
- Business Environment Ranking
- Economics - Long-Term Risk
- Politics - Long-Term Risk
- Regulatory Barriers
- Domestic Sector Threat
- Market Growth Potential
- Market Size Ranking
- Chapter 3 - Market Overview
- Chapter 4 - Regulatory Regime
- Intellectual Property Environment
- Pricing & Reimbursement
- Chapter 5 - Industry Trends and Developments
- Healthcare Sector
- Healthcare Insurance
- Health Status
- Table: Top Ten Causes of Death
- Pharmaceutical Sector
- Domestic Industry
- Foreign Industry
- Clinical Trials
- Number of Ongoing Clinical Trials in Serbia
- Chapter 6 - Industry Forecast Scenario
- Overall Market Forecast
- Table: Serbia & Montenegro Drug Market Indicator Forecasts 2004-2010
- Key Growth Factors - Industry
- Table: Serbia & Montenegro Health Expenditure Indicators
- Key Growth Factors - Macroeconomic
- Table: Serbia & Montenegro - Economic Activity
- OTC Market Forecast
- Table: Serbia & Montenegro OTC Market Indicators
- Prescription Market Forecast
- Table: Serbia & Montenegro Prescription Drug Market Indicators
- Generics Market Forecast
- Table: Serbia & Montenegro Generics Market Forecast 2004-2010
- Export/Import Forecasts
- Table: Serbia & Montenegro Sectoral Trade Indicators
- Other Healthcare Data Forecasts
- Serbia & Montenegro Pharmaceuticals Report Q3 2006
- Table Serbia and Montenegro Hospital Data Trends
- Key Risks to BMI’s Forecast Scenario
- Chapter 7 - Competitive Landscape
- Table: Companies involved in the Serbian pharmaceutical industry
- Table: Market share in 2004 by therapeutic group
- Chapter 8 - Multinational Company Profiles
Pfizer
- Chapter 9 - GlaxoSmithKline
- Chapter 10 - Novartis
- Chapter 11 - Sanofi-Aventis
- Chapter 12 - Merck & Co
- Chapter 13 - Indigenous Company Profiles
- Hemofarm
- Zdravlje Actavis
- Chapter 14 - Galenika
- Chapter 15 - Jugoremedija
- Chapter 16 - BMI Forecast Modelling
- How we generate our industry forecasts
- Technical Process
- Pharmaceutical Industry
- Sources
- Chapter 17 - Appendix: Regional Demographic Data
- Wages (ave. labour force per annum), US$ PPP
- Population
- Household Spending Per Capita, US$
- Private Consumption Per Capita, US$ PPP
- Market Size, GDP, US$bn
- Chapter 18 - Country Snapshot: Serbia Demographic Data
- Section 1: Population:
- Table: Demographic Indicators (2005)
- Table: Rural/Urban Breakdown
- Section 2: Education & Healthcare
- Table: Education
- Table: Healthcare: Vital Statistics
- Table: Healthcare: Expenditure
- Section 3: Labour Market And Spending Power
- Table: Employment Indicators
- Table: Wages per year
AbstractThe Serbian pharmaceutical market is extremely under-developed in European terms. The market actually contracted in the aftermath of the June 2006 dissolution of the State of Union of Serbia and Montenegro, with prices continuously revised, mostly downwards. However, renewed national confidence following independence is likely to promote economic development. In 2005, prescription medicines accounted for 86% of the Serbian market, with generics representing approximately one third of the market in value terms.
BMI expects the market to exceed US$610mn in 2010, up from US$437mn in 2005. Generics will continue to make gains in terms of both value and volume. The penetration of branded medicines will be improved by gradual alignment of the local intellectual property (IP) environment with international standards, stimulated by the country's desire to join the European Union (EU). However, poor economic performance and the fragile political climate will remain obstacles to higher levels of foreign direct investment (FDI), although the country has become an attractive location for clinical trials.
In regional terms, BMI's adjusted Business Environment Rankings countries places Serbia 14th out of 14 Central and Eastern European (CEE) states surveyed. The country lags behind a number of other markets in the region, not just the more advanced markets such as Hungary, but also its more immediate neighbours, such as Croatia. From the point of view of research-based multinationals, negative factors include the strong local generics manufacturing sector, widespread deficiencies within the country's regulatory infrastructure, and the existence of a sizeable counterfeit industry. Rising customs duties and high inflation will continue to place downward pressure on pharmaceutical margins and revenues.
Local pharmaceutical producers meet the bulk of the country's demand for pharmaceuticals. Multinationals mostly deal in imported medicines, although in recent months, foreign companies increased their involvement in the market with acquisitions of domestic players. The trend is likely to continue at a modest pace, boosted by privatisation initiatives but also dependent on wider economic and political environment. However, threatening the 'basic fabric' of the industry, Serbia's pharmaceutical companies are unlikely to meet the 2009 deadline to adopt European standards of good manufacturing practice (GMP) because of the scale of reconstruction involved and the estimated costs of at least US$125mn.
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