Other Pharmaceuticals - Croatia

Croatia

The Other Pharmaceuticals market in Croatia is anticipated to achieve a revenue of US$164.40m in 2024.
It is expected to exhibit a compound annual growth rate (CAGR 2024-2029) of 3.49%, leading to a market volume of US$195.20m by 2029.
When compared globally, United States will generate the highest revenue, projected to be US$260.50bn in 2024.
Croatia's other pharmaceuticals market is witnessing a surge in demand for natural remedies and traditional herbal medicines.

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

Market

Region

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Currency

Analyst Opinion

The Other Pharmaceuticals market in Croatia has been experiencing steady growth in recent years.

Customer preferences: Croatia has a high demand for generic drugs due to their lower cost compared to branded drugs. This preference for generic drugs is driven by the country's public healthcare system, which prioritizes cost-effectiveness in drug procurement.

Trends in the market: The Other Pharmaceuticals market in Croatia has been growing due to an increase in the number of people suffering from chronic diseases. This increase has led to a rise in demand for drugs that treat these conditions. Additionally, the market has been expanding due to an increase in the availability of over-the-counter drugs, which has made it easier for consumers to access medication.

Local special circumstances: Croatia's pharmaceutical market is highly regulated by the Croatian Agency for Medicinal Products and Medical Devices. This regulatory environment has led to a high level of quality control in the market, which has helped to build consumer confidence in the safety and efficacy of pharmaceutical products.

Underlying macroeconomic factors: Croatia's economy has been growing steadily in recent years, which has led to an increase in disposable income for many consumers. This increase in disposable income has made it easier for consumers to afford pharmaceutical products, which has helped to drive growth in the market. Additionally, Croatia's aging population has led to an increase in demand for pharmaceutical products, particularly those that treat chronic diseases.

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.