According to our latest research offering “Russian Pharma Sector Forecast to 2013”, the Russian pharmaceutical industry will ride the success of parapharmaceuticals segment and will grow at a CAGR of around 13% during 2011-2013. Although not registered as pharmaceutical drugs, the products in this segment are utilized for the maintenance and improvement of health. The major sub-segments in this category include vitamins, minerals, tonics, syrups, and curative cosmetics, such as ointments, gels, liniments, etc. Rising demand for these products can be attributed to the increasing disposable income of the people and rising health & beauty consciousness.
Besides the parapharmaceuticals segment, the commercial and state segment of the Russian pharma market will experience stupendous growth in the future. Such a progressive scenario has been possible due to the dynamic government support, influx of foreign investments, and enforcement of obligatory and voluntary insurance schemes. While the government support has provided impetus to the industry players, the insurance schemes have improved the buying power of the population, thus enabling them to purchase even the high-priced drugs. Moreover, rise in the prevalence of infectious diseases, such as Hepatitis C, HIV/AIDS, and other lifestyle related chronic diseases will form the foundation for growth of the pharmaceutical industry in the country.
Through in-depth analysis of the market, it is evident that, the Russian market holds a lot of potential for growth as a large portion of it remains untapped. Additionally, increasing investments from private players will boost the commercial drugs segment to occupy the largest market share by 2013. Besides the industry drivers, our report identifies the major roadblocks being faced by the pharma industry during the forecast period of 2011-2013.
Our report “Russian Pharma Sector Forecast to 2013”, provides rational analysis and reliable statistics on the Russian pharma sector. The industry experts at our organization have also considered the impact of the recent economic downturn, while forecasting the market size and segment contribution. Moreover, the report covers aspects, such as leading drugs, segment-wise break up, and information on major therapy areas to present a strategic insight into the market. The report provides a comprehensive outlook of the industrial developments and competitive landscape to enable clients understand the market structure and its progress in coming years.
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Article By: Shushmul Maheshwari