Armenia Pharmaceuticals and Healthcare Report Q4 2017
Armenia's small market size, limited by its population, will restrict multinational drugmakerinterest. While there exists significant potential for medicine sales growth, demand for innovative drugs willremain minimal. Growth in domestic production is increasing with government support. However, there aremore attractive markets in the region for use as an export hub.
Healthcare Expenditure Projections
Pharmaceuticals: AMD62.4bn (USD130mn) in 2016 to AMD65.0bn (USD133) in 2017; 4.1% in localcurrency and 2.4% in US dollar terms.
Healthcare: AMD221.8bn (USD462mn) in 2016 to AMD233.1bn (USD477mn) in 2017; 5.1% in localcurrency and 3.3% in US dollar terms.
Armenia's small population and weak purchasing power limit its market size, resulting in the countryscoring 29.0 out of 100 in BMI's Innovative Pharmaceuticals
The country is the leastattractive pharmaceutical market in the Central and Eastern Europe region. Drugmaker opportunities willremain limited by a combination of the challenging political and economic environment, weak regulatorysupervision and an unattractive demographic profile.