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"Serbia Pharmaceuticals & Healthcare Report Q3 2013" from Business Monitor International reports that while the market is small in absolute volume terms, Serbia's 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 for Serbia
* Pharmaceuticals: RSD81.38bn (US$0.93bn) in 2012 to RSD91.16bn (US$1.10bn) in 2013; +12.0% in local currency terms and +19.1% in US dollar terms. * Healthcare: RSD358.07bn (US$4.07bn) in 2012 to RSD383.88bn (US$4.64bn) in 2013; +7.2% in local currency terms and +14.0% in US dollar terms.
Risk/Reward Rating (RRR): Serbia's Pharmaceutical Risk/Reward Rating (RRR) score for Q313 is 48.5 out of 100, making it the 16th most attractive pharmaceutical market in the Emerging Europe region based on BMI's updated methodology. The country scores below the regional average, which was 52.0 for the quarter. BMI
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