The Russian pharmaceutical market is forecasted to grow at a CAGR of 14% by 2012 in the backdrop of rising population of elders and government’s initiatives to reform healthcare system.
According to our new research report, “Russian Pharma Sector Analysis”, the pharmaceutical market in Russia has very bright future as it will grow at a CAGR of nearly 14% by 2012. The positive outlook for pharmaceutical market is based on the high proportion of elder people (65 years and above) in the overall population.
The proportion of aging population in Russia mounted to 20.4 Million in 2007 from 18.5 Million in 2001, indicating to the enormous growth opportunities for the pharmaceutical industry, said the RNCOS report. Moreover, the share of aging population is anticipated to further rise with the improvement in the Russian healthcare system.
With expanding share of aging population, the prevalence of age-related diseases such as arthritis, diabetes and heart ailments is also increasing that will fuel the demand for medicines used in the treatment of these diseases. The dependency ratio of aged people on the working population is also growing with rising number of senior citizens in the country.
Besides, the reforms introduced by the Russian government in the healthcare sector have given fresh impetus to the pharmaceutical sector. Poor state of the healthcare system and declining population has prompted the government to reform the healthcare system and increase spending.
“Russian Pharma Sector Analysis” provides comprehensive research and objective analysis on the growing demand for pharmaceuticals in Russia. It discusses present and past trends to give clear picture of the country’s healthcare and pharmaceutical market. The report also provides brief overview of major players operating in each segment of the market along with the shares of imported and domestic drugs. Rx, OTC and sales structure by ATC group have been analyzed in the context of the Russian pharmaceutical market.
The report also provides forecast on various segments of Russian Pharma Sector, including pharmaceutical market by segments, population aged 65 years & above, commercial drugs segment.