Croatia pharmaceuticals market plagued by restrictive pricing and reimbursement environment, says BMI

In Business Monitor International’s Business Environment Ratings (BERs) matrix for the Emerging Europe region in first-quarter 2011, Croatia’s position improved to 15th, up by two places on the previous quarter. However, the shift of its position was due to the worsening of absolute scores for other emerging markets in the region, as Croatia’s own score was also lower in this quarter than previously.

Key drawbacks include the country’s small market size and the restrictive pricing and reimbursement environment, which are expected to result in only modest annual increases in the value of the pharmaceutical market. On the other hand, Croatia is making concerted efforts to meet its European Union membership requirements, which should facilitate market access for foreign players.

Market worth $1.1 billion in 2009