The Kazakhstan Pharmaceuticals and Healthcare Report provides independent forecasts and competitive intelligence on Kazakhstans pharmaceuticals and healthcare industry.
The pharmaceutical market in Kazakhstan is one of the most dynamic in Central Asia, typified by increasing numbers of foreign entrants. The country, being the second largest (after Russia) of the former Soviet republics, offers considerable commercial opportunities to foreign pharmaceutical players. Kazakhstan also boasts the most secure and stable political environment in the region, which has propelled its economic growth since the independence in 1991.
Kazakhstans drug sales have also posted a strong growth in recent years, largely on the back of high oil revenues. Moreover, the government is planning to raise health spending to 4% of GDP by 2010, with some US$1.3bn set to be invested. In Q107, the country's pharmaceutical market grew by over 23% in relation to the same period in 2006. The author is predicting annual growth of between 15% and 20% over the coming years, above the overall economic growth levels. The grey market of products from Russia and Ukraine and a black market in unregistered products accounts for an additional 10% of the market, which is not reflected in our forecasts. With growing consumer health awareness and desire to avoid run down health facilities, the over-the-counter (OTC) market - which accounts for around one-quarter of total value - will grow at a strong pace.
In the the revised Business Environment Ranking matrix for Central and Eastern Europe (CEE), Kazakhstan is ranked joint fourteenth, alongside Ukraine, out of the 16 regional markets surveyed. While enjoying a considerable level of political and economic stability, the country is marked down for absolute market value and per capita consumption of medicines, as well as the lack of universal reimbursement.
The pharmaceutical market is largely reliant on imports. Leading players on the local pharmaceutical market include foreign companies Sanofi-Aventis (France), Hungarys Gedeon Richter, Swiss Nycomed and Berlin Chemie-Menarini. Chimpharm is the key domestic producer of pharmaceuticals, accounting for over half of total local output. However, its presence in other markets is limited. In more recent years, Asian generic companies (including Indian and Malaysian producers) have made more of an impact on the Kazakhstan's pharmaceutical marketplace, with the trend likely to continue over the forecast period.
Companies Mentioned:
- Chimpharm
- Nycomed
- Ranbaxy
- Romat FK
For more information, visit http://www.researchandmarkets.com/reports/c87380
SOURCE: Research and Markets
Research and Markets Laura Wood Senior Manager Fax: +353 1 4100 980 press@researchandmarkets.com
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