Government Support Injecting Growth in Russian Pharma Industry
Released on: December 15, 2007, 1:06 am
Press Release Author: Shushmul Maheshwari
Press Release Summary: Rising health consciousness, growing aging population, and strong government initiatives will drive the growth of Russian Pharma Industry, leading to double-digit growth rate, says the RNCOS report.
Press Release Body: RNCOS has recently released its market research report "Russian Pharma Sector Analysis (2007)" to evaluate the factors affecting the pharmaceutical market in Russia. The report notifies increasing aging population, rising health consciousness in the country, medical insurance, strong government support and the rising sales volume of expensive drugs as the key factors that will drive the Russian pharmaceutical market during 2007-2011. On the back of these factors, the Russian pharmaceutical industry is anticipated to increase at a CAGR of over 15% during 2007 to 2011.
Drugs for Cancer, HIV, and Cardiovascular ailments will provide the biggest opportunity area for the Russian pharmaceutical market in future, says the RNCOS research. Moreover, the diabetic population of the country is also increasing leading to heightened demand for insulin, thus forming another prospective area.
According to the report, the pharmaceutical market in Russia started experiencing massive expansion globally in 2006, with both the commercial and state segments posting double-digit growth in the sales value, with a major boost coming from the drug reimbursement program of the government. It also evaluates the market segments of the industry that mainly comprise of the state segment, commercial segment and the Para pharmaceutical segment which have experienced exceptional growth.
The RNCOS research has find a unique trend in the Russian pharmaceutical market where the sales of the drugs declined in terms of volume but amplified in terms of value.
The report also specifies certain negativities which might obstruct the growth of the Russian pharmaceutical market in future. These include huge percentage of counterfeiting drugs, IPR protection regime and poor quality control standards.
"Russian Pharma Sector Analysis (2007)" provides a keen insight into the Russian pharmaceutical market by systematically evaluating the emerging trends impacting the market and thus predicts its future performance. It addresses the key opportunities and challenges, driving factors, and impact of government policies on the pharmaceutical market.
This research report is a work of in-depth analysis of the Russian pharmaceutical industry, covering various market parameters like the size of pharma market, structure of the health care sector, demographics, and a comparative analysis of the market segments.
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