Serbia: Market for Medicaments Of Penicillins, Streptomycins Or Derivatives Thereof 2024

Market Size for Medicaments Of Penicillins, Streptomycins Or Derivatives Thereof in Serbia

For the third year in a row, the Serbian penicillins or streptomycins medicaments market recorded growth in sales value, which increased by 6.5% to $X in 2022. In general, the total consumption indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +53.9% against 2015 indices. Over the period under review, the market reached the maximum level in 2022 and is likely to see steady growth in the near future.

Production of Medicaments Of Penicillins, Streptomycins Or Derivatives Thereof in Serbia

In value terms, penicillins or streptomycins medicaments production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 when the production volume increased by 11% against the previous year. Over the period under review, production attained the maximum level in 2022 and is expected to retain growth in years to come.

Exports of Medicaments Of Penicillins, Streptomycins Or Derivatives Thereof

Exports from Serbia

After two years of growth, shipments abroad of medicaments of penicillins, streptomycins or derivatives thereof decreased by -14.5% to X tons in 2022. In general, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 37% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, penicillins or streptomycins medicaments exports reduced to $X in 2022. Overall, exports recorded a abrupt contraction. The most prominent rate of growth was recorded in 2021 when exports increased by 25%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Russia (X tons) was the main destination for penicillins or streptomycins medicaments exports from Serbia, accounting for a 57% share of total exports. Moreover, penicillins or streptomycins medicaments exports to Russia exceeded the volume sent to the second major destination, Lithuania (X tons), fourfold. Bosnia and Herzegovina (X tons) ranked third in terms of total exports with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Russia amounted to -3.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (+114.3% per year) and Bosnia and Herzegovina (+2.8% per year).

In value terms, Russia ($X) remains the key foreign market for medicaments of penicillins, streptomycins or derivatives thereof exports from Serbia, comprising 63% of total exports. The second position in the ranking was held by Bosnia and Herzegovina ($X), with an 11% share of total exports. It was followed by Montenegro, with a 10% share.

From 2012 to 2022, the average annual growth rate of value to Russia amounted to -10.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bosnia and Herzegovina (+2.7% per year) and Montenegro (+4.8% per year).

Export Prices by Country

The average penicillins or streptomycins medicaments export price stood at $X per ton in 2022, approximately equating the previous year. Overall, the export price, however, saw a abrupt downturn. The most prominent rate of growth was recorded in 2019 when the average export price increased by 25% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Montenegro ($X per ton), while the average price for exports to Lithuania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Montenegro (+3.1%), while the prices for the other major destinations experienced a decline.

Imports of Medicaments Of Penicillins, Streptomycins Or Derivatives Thereof

Imports into Serbia

In 2022, after two years of decline, there was significant growth in overseas purchases of medicaments of penicillins, streptomycins or derivatives thereof, when their volume increased by 21% to X tons. In general, imports, however, showed a abrupt slump. The most prominent rate of growth was recorded in 2016 when imports increased by 100%. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, penicillins or streptomycins medicaments imports rose sharply to $X in 2022. Overall, imports, however, showed a perceptible slump. The pace of growth was the most pronounced in 2019 with an increase of 28% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), France (X tons) and Italy (X tons) were the main suppliers of penicillins or streptomycins medicaments imports to Serbia, together comprising 81% of total imports.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +13.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Italy ($X) and China ($X) constituted the largest penicillins or streptomycins medicaments suppliers to Serbia, together accounting for 69% of total imports.

France, with a CAGR of +15.8%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average penicillins or streptomycins medicaments import price amounted to $X per ton, with a decrease of -9.3% against the previous year. Over the period under review, the import price, however, continues to indicate a resilient expansion. The growth pace was the most rapid in 2017 when the average import price increased by 129% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+10.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform