Boston, MA -- (SBWIRE) -- 04/23/2014 -- While per capita expenditure on drugs is increasing steadily, Serbia's overall pharmaceutical market is still underdeveloped. Serbia frequently faces medicine shortages, as some retailers and pharmacists are unable to earn profits from the sale of these medicines, which is impacting patients. As the country continues its economic convergence with developed Europe, drug consumption is expected to rise. Meanwhile, financial inefficiencies within the health insurance system compel the National Health Insurance Institution (RZZO) to make frequent changes to coverage and pharmaceutical pricing. We therefore believe that the state must seriously consider expanding its pharmaceutical budget to improve care and patient outcomes, especially considering Serbia's ageing population and the associated burden of chronic diseases. The Serbian pharmaceutical market's high price-sensitivity will constrain the market's short-term potential, although we are optimistic towards the market's long-term growth prospects.

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