Russia Pharmaceuticals and Healthcare Report Q4 2017
Russia's economic recovery has returned the market to its former position as a key emerging growth driver for multinational pharmaceutical firms. Innovative drugmakers will remain averse to the high levels of risk within the market and as such generic medicine sales will be the major beneficiary of this growth. The continued development of the domestic manufacturing industry will provide additional challenges for multinational drugmakers.
Headline Expenditure Projections
Pharmaceuticals: RUB1.10trn (USD16.4bn) in 2016 to RUB1.23trn (USD21.0bn) in 2017; +12.2% in local currency terms and 27.6% in US dollar terms. Forecast unchanged from previous quarter.
Healthcare: RUB5.34trn (USD82.6bn) in 2016 to RUB5.85trn (USD99.3bn) in 2017; +5.7% in local currency terms and 20.2% in US dollar terms. Forecast unchanged from previous quarter.
Russia's region-leading market size results in the country scoring 61.3 in BMI's Innovative Pharmaceuticals
Risk/Reward Index, ranking third in the region. The country will remain a high-risk, high-reward market, with significant growth opportunities partially offset by the challenging operating environment, notably from the high degree of protectionism and the weak enforcement of intellectual property rights.