PRODUCT CLASSIFICATION

Packaged Medicaments are pharmaceutical products such as tablets, capsules, syrups and injections, prepared in precise doses, sealed in protective packaging and designed to ensure everyday healthcare and emergency treatments.

They are known for their long shelf life, reliability, ease of distribution, standardized format that allows effective storage and transport and, also, for having a key role in treating a wide range of conditions, from chronic illnesses to acute infections.

Packaged Medicaments are a part of Pharmaceutical products, a category that includes a wide range of products, for example Medicaments in Dosage (n.e.s.), Hormones (Excl. Contraceptives) in Dosage, Antibiotics nes, in dosage, Insulin, in dosage, and Adrenal cortical hormones, in dosage.

They also have a Product Complexity Index of 0.87, ranking 220 out of 1044 products in 2023.

This post will not consider the Packaged Medicaments trade in general, but it will be focused on the Montenegrin market, where the category is the fifth most exported and the fourth most imported in the country.

EXPORT

In 2023, Montenegro exported an amount of $54.3M worth of Packaged Medicaments, becoming the 80th largest exporter of this category out of 214 countries in the world, with an estimated percentage of 0.012 of share in global exports; during the same year, Packaged Medicaments was the 5th most exported product in Montenegro out of 799.

The main destination of the country’s exports were

  • Serbia - $36.9M;
  • Germany - $13.3M;
  • Bosnia and Herzegovina - $1.35M;
  • Kazakhstan - $937K;
  • France - $317K.

IMPORT

In 2023 it was estimated that Montenegro imported around $151M of Packaged Medicaments, becoming the 123rd largest importer of the product in the world out of 226
countries, with a 0.032% of share in global imports; during the same year, Packaged Medicaments were the 4th most imported product in the country out of 1123.

They were imported primarily from

  • Serbia - $30.3M;
  • Germany - $21.8M;
  • Switzerland - $17.6M;
  • France - $11.9M;
  • United Kingdom - $10.5M.

GROWTH POTENTIAL

According to the source, between 2022 and 2023 the fastest growing markets for the category’s imports and exports in Montenegro were the following

MARKETS FOR PACKAGED MEDICAMENTS EXPORTS

  • Serbia - $10.1M;
  • Germany - $5.63M;
  • Kazakhstan - $302K.

MARKETS FOR PACKAGED MEDICAMENTS IMPORTS

  • Switzerland - $7.39M;
  • Serbia - $4.44M;
  • United Kingdom - $4.38M.

CONCLUSIONS

In 2023, the Packaged Medicaments market remained active and responsive, shaped by the growing public demand and the country’s effort to align with European standards.

Ensuring an easy access to safe, effective and ready-to-use treatments has made this category a key element in the country’s path toward a more modern and reliable healthcare infrastructure.

Source: https://oec.world/en

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