Serbia Healthcare Fund exploring partnerships with U.S. pharmaceutical producers
New U.S. pharmaceutical export opportunities are emerging due to market shortages caused by supply disruptions from European manufacturers, particularly in critical areas such as anesthetics, antibiotics, opioids, and cytostatics.
Serbia relies heavily on imported pharmaceuticals, with the market valued at approximately USD $1.91 billion in 2024, growing annually by 11% over the past three years. Generic medicines account for around 40% of the market, highlighting significant demand for cost-effective solutions. Oncology drugs, cardiovascular treatments, and generics are among the most sought-after products, driven by Serbia’s high rates of cancer and heart disease, which collectively account for the majority of healthcare expenditures. Additionally, Serbia’s plans to import generic medicines and biosimilars from the U.S. present substantial opportunities for American pharmaceutical companies to address local healthcare challenges.
Drug Consumption Trends in Serbia
Cytostatics (Cancer Drugs)
Oncology products represent the largest and fastest-growing segment of Serbia’s pharmaceutical market. In 2022, Serbia recorded 42,039 new cancer cases and 23,881 cancer-related deaths, with lung, colorectal, breast, and prostate cancers being the most common.
Anesthetics
The demand for anesthetic drugs in Serbia is closely tied to the increasing number of surgical procedures, routine interventions to specialized surgeries requiring advanced anesthetic solutions have been steadily rising in recent years. Globally, the anesthesia drugs market is projected to grow at a compound annual growth rate (CAGR) of 3.4%, reaching USD 7.51 billion by 2025, driven by advancements in drug formulations and rising healthcare needs.
Antibiotics
Antibiotic consumption in Serbia has historically been among the highest in Europe. By 2023, Serbia ranked among the top ten upper-middle-income countries globally for antibiotic consumption rates, alongside Türkiye and Ecuador. This underscores the persistent demand for antibiotics despite global efforts to reduce usage.
Opioids
Opioid consumption in Serbia is primarily tied to pain management for chronic conditions and palliative care. While detailed statistics on opioid usage are limited, Serbia’s population of nearly 7 million presents a steady demand for pain-relief medications.
U.S. companies interested in exploring opportunities to supply Serbia with generic medicines and biosimilars, are encouraged to contact U.S. Commercial Service in Serbia for further information and support in entering this dynamic market. For additional information, please contact Boris Popovski: boris.popovski@trade.gov.