Slovenia's medicaments market outlook: Stats & figures

 

Slovenia is a scenic location in Europe mostly covered with snow capped mountains and forests. Compared to fiscal year 2022, there was substantial growth of 10% in Slovenia's trade. According to Slovenia import export data, in FY 2023, Slovenia's overall trade was recorded to be $120 billion. Last year, Slovenia's exports grew by 7%.

Slovenia's top trading partners were Switzerland, Germany and Italy. Whereas, SLovenia's imports declined by 3.5%. Slovenia customs data suggests over $62 billion in fiscal year 2023. Medicaments are the key exports of Slovenia. Medicaments are the most exported items from Slovenia and account for 30% of Slovenia's market share. Over the years, the Slovenian pharmaceutical market has seen tremendous growth. It was $2 billion in 2010 whereas it now becomes a $10 billion market. Pharmaceutical sector  accounts for 5% of Slovenia's overall GDP.

Slovenia exported over $18 billion worth of medicaments in 2023. Last year, Slovenia's medicines exports grew by 34%. Switzerland was the leading destination for Slovenia's medicaments exports. Switzerland accounts for 80% share of Slovenia's exports in 2023. Switzerland has imported over $14 billion worth of medicines from Slovenia. 

Along with Switzerland, Russia, Poland, Croatia and Germany. Swixx Bio Pharma, KRKA, Sandoz and Lek DD were the leading medicaments export companies from Slovenia with highest shipments during last fiscal year. Vaccines were the second most exported pharmaceutical export of Slovenia. As per Slovenia export data, around $1.5 billion worth of vaccines were exported in the last fiscal year. There was a 6.5% rise in the vaccine exports from Slovenia. 

Switzerland was the biggest market with 32% share of Slovenia's exports. There was notable growth in Slovenia's vaccine exports to Russia, Germany, Croatia and Serbia. On the other hand, Slovenia's most preferable markets for medicaments imports were Switzerland, Germany, Singapore and France. 

As per Slovenia import data, around $7.5 billion worth of medicaments were imported by Slovenia in 2023. There was a 3% decline in the medicaments imports of Turkey. Switzerland accounted for 72% of Slovenia's overall medicaments imports. The fastest growing market in terms of Slovenia’s medicaments imports were Germany, Singapore, France and Ireland respectively. Modern Pharmaceutical, Mira, Metropoliya and Medline were other Slovenia’s medicaments companies in terms of imports. 

Slovenia has the huge potential to become a prominent market for pharmaceutical exports. Seeing Slovenia's pharmaceutical market potential, investors are eyeing to break into Slovenia. Recently, a pharmaceutical giant, Novartis, has invested billions to provide assistance for Slovenia in order to enhance generic drug production.

Among European countries, Slovenia's top competitors are Poland, Romania, Czech Republic, Hungary, Bulgaria and Slovakia. Poland is the biggest market for pharmaceutical exports with worth around 8.9 billion euros. Whereas, Romania (4.7 billion euros), Czechia (4 billion euros), and Hungary (2.8 billion euros).

Slovenia’s pharmaceutical companies can access the business opportunities in these countries through Global import export data provider. Through comprehensive market insights, Slovenia companies can identify trends, trending goods, top marketplaces, top companies and genuine business opportunities. It assists companies to make better decisions regarding product sourcing, production quantity analysis, financial risk and genuine business leads.