Other Pharmaceuticals - Bosnia and Herzegovina

Bosnia and Herzegovina

The revenue in the Other Pharmaceuticals market of Bosnia and Herzegovina is forecasted to reach US$66.09m in 2024.
It is expected to exhibit an annual growth rate (CAGR 2024-2029) of 3.77%, leading to a market volume of US$79.54m by 2029.
In terms of global comparison, United States is projected to generate the highest revenue with US$260.50bn in 2024.
Bosnia and Herzegovina's Other Pharmaceuticals market is experiencing a surge in demand for innovative and affordable generic drugs.

Key regions: China, Europe, Australia, United States, Germany

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Analyst Opinion

The Other Pharmaceuticals market in Bosnia and Herzegovina has been experiencing steady growth in recent years.

Customer preferences: Customers in Bosnia and Herzegovina are increasingly seeking out alternative medicines and natural remedies, which has contributed to the growth of the Other Pharmaceuticals market. Additionally, the aging population in the country has led to an increased demand for pharmaceutical products.

Trends in the market: The Other Pharmaceuticals market in Bosnia and Herzegovina is expected to continue its growth trajectory in the coming years. This growth is driven by the increasing demand for natural remedies, as well as the government's efforts to improve access to healthcare services in the country. Additionally, the trend towards personalized medicine is expected to drive growth in the market.

Local special circumstances: Bosnia and Herzegovina has a complex healthcare system, with both public and private providers. The country's healthcare system has undergone significant reforms in recent years, which has led to improvements in access to healthcare services. However, there are still challenges related to the affordability of healthcare services for many people in the country.

Underlying macroeconomic factors: Bosnia and Herzegovina has a relatively small economy, which has been growing slowly in recent years. However, the country has made progress in reducing poverty and improving access to healthcare services. The government has also been working to improve the business environment in the country, which is expected to support the growth of the Other Pharmaceuticals market. Additionally, the country's strategic location in the heart of the Balkans makes it an attractive market for pharmaceutical companies looking to expand their operations in the region.

Methodology

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.