New Healthcare research report from Business Monitor International is now available from Fast Market Research

Boston, MA -- (SBWire) -- 08/05/2013 --Kazakhstan remains the most attractive pharmaceutical market in Central Asia, in terms of the overall regulatory environment and ease of doing business compared to neighbouring countries. The domestic market is constrained by the relatively small size of the population and daunting infrastructure challenges. Pending World Trade Organisation (WTO) accession, expected as soon as this year, as well as Kazakhstan's membership in the Customs Union (CU) with Russia and Belarus should drive continued improvements in regulation and harmonisation, assuming the contradictions of membership in the two groups (such as common external tariffs) can be ironed out. Meanwhile, foreign investors have acquired controlling stake in the three largest pharmaceutical manufacturers - Chimpharm, Nobel and Global Pharm - and have committed to expanding manufacturing capacity and creating Good Manufacturing Practice (GMP)-complaint facilities. The government announced in February 2012 that it would review options for new pricing regulations to address high prices, a process that both domestic and foreign players will be watching closely.

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Headline Expenditure Projections

- Pharmaceuticals: KZT280.96bn (US$1.89bn) in 2013 to KZT313.45bn (US$2.14bn) in 2014; up 13.9% in local currency terms and 14.3% in US dollar terms. Forecast adjusted up due to updated macroeconomic forecasts.
- Healthcare: KZT1541.1 (US$10.4bn) in 2013 to KZT1,740.6 (US$11.9bn) in 2014; up 15.7% in local currency terms and 16.2% in US dollar terms. Forecast adjusted up due to updated macroeconomic forecasts.

Risk/Reward Rating: Kazakhstan has a RRR score of 50 out of 100, making it the 134th most attractive pharmaceutical market in Emerging Europe. Although the Kazakh market is characterised by relatively few market barriers and rapid growth, the potential rewards for the industry are moderated by low per capita spending and an unfavourable rural-urban population split.

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