Boston, MA -- (ReleaseWire) -- 06/30/2014 -- Pharmaceutical companies will act to further localise pharmaceutical production in Russia over the medium term. We see further protectionist measures on the horizon in the wake of the Crimea crisis, as the government wishes to end its reliance on imports and have more direct control over its pharmaceutical supply. Over the longer term, the country's ageing population and significant disease burden will act to underpin pharmaceutical expenditure growth. However, we are increasingly concerned about the sustainability of Russia's healthcare expenditure given the economic reliance on government oil and gas revenues.
Headline Expenditure Projections
- Pharmaceuticals: RUB786.50bn (USD24.68bn) in 2013 to RUB896.67bn (USD25.47bn) in 2014; +14.0% in local currency terms and 3.2% in US dollar terms. US dollar forecasts revised downward from Q214 due to currency devaluation.
- Healthcare: RUB4,368bn (USD137.06bn) in 2013 to RUB4,608bn (USD130.91bn) in 2014; 5.5% in local currency terms and -4.5% in US dollar terms. Figures revised downwards from Q314 due to revisions to historical WHO data and changes to currency forecast.
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Risk/Reward Ratings: Russia has an RRR score of 57.9 out of 100, making it the third-most attractive pharmaceutical market in Emerging Europe. Although Russia scores highest for Industry Rewards, its overall score is moderated by its lower Risk score, highlighting the challenging operating environment in the country at present. Russia's score has declined slightly from Q214 (59) as a result of a reduced Reward score, driven by a devaluation in the rouble against the dollar.
Key Trends And Developments
- About 15 Russian pharmaceutical companies as well as their counterparts from outside the country will receive a 15% preference in the procurement of drugs for state needs, according to an order passed by the Ministry of Economic Development.
- Pharmaceutical companies are accelerating their pace of localisation in Russia, acquiring...
The Russia Pharmaceuticals & Healthcare Report features Business Monitor International (BMI)'s forecasts for drugs and healthcare expenditure and imports and exports, focusing on the growth outlook for the prescription, OTC, patented drugs and generics market segments.
BMI's Russia Pharmaceuticals & Healthcare Report provides industry professionals, strategists, company executives, investors, analysts and sales/marketing heads with independent forecasts and competitive intelligence on the Russian pharmaceutical and healthcare industry.
- Benchmark BMI's independent pharmaceutical and healthcare industry forecasts for Russia to test other views - a key input for successful budgeting and strategic business planning in the Russian pharmaceutical and healthcare market.
- Target business opportunities and risks in the Russian pharmaceutical and healthcare sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Russia.
- Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity) and Competitive Landscape Tables.
BMI Industry View & Industry SWOT
An at-a-glance perspective on latest regulatory developments, key forecast indicators and major corporate developments, covering the prescription, OTC and generics markets. The SWOT outlines strategic factors which affect BMI's forecast analysis, and taken together with BMI's political, economic and business environment SWOTS, it gives a complete overview of market climate.
Snapshot of key market characteristics, including total size of pharmaceuticals and healthcare segments, growth drivers, leading therapeutic areas and the competitive landscape.
Details of the industry regulatory framework and key legislation covering the licensing of new products/services, pricing and reimbursements, intellectual property, taxation and advertising, as well as an analysis of the overall regulatory burden.
Focus on government healthcare reforms, epidemiological trends, company M&As, product launches, market entries, FDI activity, R&D, biotechnology, clinical trials and supply chain issues.
BMI Industry Forecasts
Forecasts to end-2018 for all key industry indicators (see list below) supported by explicit assumptions, plus analysis of key downside risks to the main forecast, including:
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