2014-03-10 23:13:02 - The Pharmaceutical Market: Serbia - a new market research report on companiesandmarkets.com
While the market is small in terms of absolute numbers, relative per capita spending on medicines is expected to improve over the long term. As the country continues its economic convergence with developed Europe, drug consumption is also expected to rise. However, financial inefficiencies within the health insurance system mean that the National Health Insurance Institution ( RZZO ) is unable to always meet its obligations on time, leaving patients to pay for formerly reimbursed medicines or hospitals having to cover the difference .
Headline Expenditure Projections
Pharmaceuticals: RSD75.70bn (US$1.03bn) in 2011 to RSD81.44bn (US$0.92bn) in 2012; +7.6% in local currency terms and -11.0% in US dollar terms.
Healthcare: RSD347.71bn (US$4.74bn) in 2011 to RSD367.32bn (US$4.14bn) in 2012; +5.6% in local currency terms
and -12.6% in US dollar terms.
Medical devices: RSD16.64bn (US$223mn) in 2011 to RSD19.98bn (US$223mn) in 2012; +20.1% in local currency terms and -0.7% in US dollar terms.
The competitive landscape section provides comparative company analyses and rankings by US$ sales and % share of total sales - for the total pharmaceutical sector, as well as the OTC, generics, and distribution sub-sectors.
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