The global pet care market is foretold to improve in the forthcoming years as matched to the preceding years and will showcase better sales in various market segments. It is estimated that the global pet care market will grow at a CAGR o…
BMI View: Serbia will remain an unattractive market for multinational drugmakers in comparison to its
regional neighbours. Government cost-containment, via severe drug price cuts, and continued economic
issues will dampen the country's growth outlook.
Headline Expenditure Projections
Pharmaceuticals: RSD91.42bn (USD840mn) in 2015 to RSD88.08bn (USD766mn) in 2016; -3.7% in
local currency terms and -8.8% in US dollar terms. Forecast unchanged from Q316.
Healthcare: RSD405.24bn (USD3.73bn) in 2015 to RSD414.284bn (USD3.60bn) in 2016; 2.2% in local
currency terms and -3.3% in US dollar terms. Forecast unchanged from Q316.
In our Q416 Pharmaceutical Risk/Reward Index (RRI), Serbia is ranked 18th out of 20 markets in the
Central and Eastern European (CEE) matrix with an unchanged score of 43.0 compared with the previous
quarter. Its position also remains unchanged, sitting one place above Uzbekistan (36.5) and just below
Kazakhstan (45.9). Serbia scores considerably below the regional average score of 52.4 in Q416. Serbia will
continue to be a challenging market for foreign investors, because of the prevalence of corruption, a largescale
black-market economy, and the poor state of the country's infrastructure and finances, in both public
and private spheres.