Antiviral Drugs - Serbia

Serbia

Highlights

The Antiviral Drugs market in Serbia is expected to witness significant revenue growth in the coming years.
According to projections, the revenue is set to reach US$17.42m in 2024.
This growth is anticipated to continue with an annual growth rate of 2.05% from 2024 to 2029, resulting in a market volume of US$19.28m by 2029.
When compared to other countries globally, it is worth noting that United States is projected to generate the highest revenue in the Antiviral Drugs market.
In 2024, United States is expected to generate a staggering amount of US$30.64bn.
Serbia has witnessed a surge in demand for antiviral drugs, driven by an increased focus on public health and the need for effective measures against viral infections.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The demand for antiviral drugs in Serbia has been growing steadily over the years, reflecting the increasing prevalence of viral infections in the country.

Customer preferences: Serbian customers prefer antiviral drugs that are affordable, effective, and easily accessible. They also tend to look for drugs that have minimal side effects and are available in different forms, including tablets, capsules, and syrups.

Trends in the market: One of the notable trends in the antiviral drugs market in Serbia is the growing demand for drugs that can treat hepatitis C. This trend is driven by the high prevalence of hepatitis C in the country, which is estimated to be around 2.5% of the population. As a result, there has been an increasing focus on developing new and more effective drugs for treating this condition.Another trend in the market is the growing preference for generic antiviral drugs. This trend is driven by the high cost of branded drugs, which makes them unaffordable for many customers. Generic drugs are seen as a more affordable alternative, and they are increasingly being prescribed by doctors in the country.

Local special circumstances: Serbia has a well-established healthcare system, which provides universal coverage to all citizens. However, the system is underfunded, and there are often shortages of drugs and medical supplies in the country. This has led to a growing black market for drugs, including antiviral drugs.

Underlying macroeconomic factors: Serbia is a lower-middle-income country, with a GDP per capita of around $6,000. The country has been experiencing slow economic growth in recent years, and this has had an impact on the healthcare sector. The government has been struggling to fund the healthcare system adequately, and this has led to a shortage of drugs and medical supplies in the country. In conclusion, the antiviral drugs market in Serbia is driven by the growing prevalence of viral infections in the country, particularly hepatitis C. Customers in the country prefer affordable, effective, and easily accessible drugs, and there is a growing preference for generic drugs. The healthcare system in Serbia is underfunded, which has led to shortages of drugs and medical supplies, and a growing black market for drugs.

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on drug revenues allocated to the country where the money is spent. Monetary values are given at manufacturer price level excluding VAT.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market. As a basis for evaluating markets, we use financial information of the key players by market. Next, we use relevant key market indicators and data from country-specific associations, such as industry associations. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. The main driver is healthcare expenditure. Expiring patents and new drugs in the pipeline are also considered.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. This market comprises prescription drugs and all OTC drugs covered in the Statista OTC Pharmaceuticals market. However, in the OTC Pharmaceuticals market, revenues are based on end-consumer prices.