Uzbekistan Pharmaceuticals and Healthcare Report Q4 2017
Uzbekistan's pharmaceutical market growth - the highest in local currency terms in 2016 for the Central and Eastern European (CEE) region - highlights opportunities for multinational drugmakers. Given the continued dependence on pharmaceutical imports, Uzbekistan's regional peers from the CIS States are well positioned to take advantage of the growth potential in the country's pharmaceutical market. However, the poor regulatory environment, with weak intellectual property protection, will limit the attractiveness to innovative drugmakers.
Headline Expenditure Projections
Pharmaceuticals: UZS3.19trn (USD956mn) in 2016 to UZS3.65trn (USD1.0bn) in 2017; 14.5% in local currency terms and 6.2% in US dollar terms. Forecast unchanged from the previous quarter.
Healthcare: UZS11.0trn (USD3.69bn) in 2016 to UZS12.6trn (USD3.50bn) in 2017; 14.7% in local currency terms and -5.6% in US dollar terms. Forecast unchanged from the previous quarter.
Uzbekistan's pharmaceutical market will continue to present severely limited opportunities for innovative drugmakers, reflected in its score of 38.1 in BMI's Innovative Pharmaceuticals Risk/Reward Index. This score ranks it 21st in the region. Demand for patented medicines will remain restricted by poor access to healthcare services, a young population and limited expenditure on medicines.