Noida, UP -- (SBWIRE) -- 03/17/2014 -- Russia is swiftly emerging as one of the fastest growing pharmaceutical industries across developing economies. The market value of the same is estimated to reach RUB 1 Trillion by the end of 2013. Over the 5 year period spanning from 2012 to 2017, the market is likely to register a growth rate of approximately 11%, compounded annually. The key factors responsible for driving the market growth include increased government support; better FDI inflows; meliorating affordability and economic condition of the country; improved infrastructure; and mounting share of the expensive drugs among other factors.
Research Analysis & Highlights
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.
Some of the key findings of the report are:
- Extensive government support in form of ‘Pharma 2020’ strategy
- Ameliorated investment aspects with higher FDI inflows
- Largest share in the market is claimed by the commercial segment
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