Noida, UP -- (ReleaseWire) -- 04/15/2014 -- The combined contribution of various factors such as increasing support from the government, rise in the expenditure on healthcare, and growth in the investments made by the private players will result in a RUB 1.5 Trillion pharmaceutical market in Russia by 2017. Similar to earlier years, the commercial drugs segment was estimated to have occupied the largest market share in 2012. Besides, the state drug segment is continuously declining and losing its share to the commercial segment.
In order to improve the production capacity of the Russian pharma sector, the Russian government has adopted ‘Strategy 2020’. The strategy highlights the idea of a cluster system to locate on one territory (federal district) a chain of companies active with full pharma cycle - R&D, production, professional training, distribution - logistics and sales for the development of the pharmaceutical industry. These clusters have been attracting majority of investment project plans, involving the participation of foreign investors, especially in St. Petersburg, Kursk and Kaluga clusters.
On the holistic basis, the “Russian Pharmaceutical Market Outlook to 2017”, report thoroughly discusses the demographic profile of Russia and the pharmaceutical infrastructure; the overall pharmaceutical market of Russia in terms of branded & generics; state, commercial, and parapharmaceuticals. Also, the market drivers; the laws and bylaws associated with the industry; and a detailed competitive scenario of the market along with the profiles of key players are included in the report.
With the implementation of new supportive laws, government strategic inclination towards industrial development, better investment aspects, emergence of certain regions as R&D hubs, and the shift in consumer buying behavior among others, the Russian pharmaceutical market is poised to record a spurt in growth in the near future.
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