The Sensory Organ Drugs market in Bosnia and Herzegovina is a developing market with increasing demand for drugs that cater to eye and ear-related ailments.
Customer preferences: Customers in Bosnia and Herzegovina prefer drugs that are affordable and easily accessible. Due to the lack of proper healthcare infrastructure in the country, self-medication is a common practice. Customers prefer drugs that are available over-the-counter and do not require a prescription.
Trends in the market: The Sensory Organ Drugs market in Bosnia and Herzegovina is witnessing a growing trend of generic drugs. Due to the high cost of branded drugs, customers are opting for cheaper alternatives. The market is also seeing an increase in demand for drugs that cater to age-related eye disorders such as cataracts and macular degeneration. The rise in the number of people suffering from diabetes has also led to an increase in demand for drugs that cater to diabetic retinopathy.
Local special circumstances: Bosnia and Herzegovina is a country that has been ravaged by war and has a weak healthcare infrastructure. The lack of proper healthcare facilities has led to an increase in self-medication and a preference for over-the-counter drugs. The country also has a high prevalence of smoking, which has led to an increase in eye-related ailments such as macular degeneration and cataracts.
Underlying macroeconomic factors: Bosnia and Herzegovina is a country with a low GDP and a high unemployment rate. The lack of purchasing power has led to a preference for cheaper alternatives in the Sensory Organ Drugs market. The country also has a high prevalence of chronic diseases such as diabetes, which has led to an increase in demand for drugs that cater to diabetic retinopathy. The lack of proper healthcare infrastructure has also led to an increase in demand for drugs that are easily accessible and do not require a prescription.
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.
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Mon - Fri, 9am - 6pm (EST)
