Biotechnologies and Pharmaceuticals sector

An Expert's View about Medical, Health and Cosmetics Products in Russia

Posted on: 29 Sep 2012

According to expert forecasts, Russia's pharmaceutical market should regain double-digit US dollar growth from 2013

Biotechnologies and Pharmaceuticals sector in Russia ξ Russia is the largest market in Central and Eastern Europe. ξ This market heavily depends on imports of medicines. ξ According to expert forecasts, Russia's pharmaceutical market should regain double-digit US dollar growth from 2013. ξ Russia’s entry to the WTO should provide a clearer regulatory pathway for foreign original drug makers through strong intellectual property (IP) legislation. Market overview Expenditure Projections: Pharmaceuticals: US$20.65bn in 2011 to US$21.94bn in 2012 (+6.2%) Healthcare: US$85.24bn in 2011 to US$90.62bn in 2012 (+6.3%) Medical devices: US$6.39bn in 2011 to US$6.89bn in 2012 (+7.7%) Key opportunities ξ Russian pharmaceutical producers will have to switch to Good Manufacturing Practice (GMP) standards starting from January 1, 2014. This opens opportunities for UK providers of GMP compliant technology and equipment. ξ Pharmaceutical industry projects worth RUR40bn ($1.4bn, or €980mn) are currently implemented in Russia. Latest export opportunities – Biotechnology and Pharmaceuticals Latest export opportunities – Russia Getting into the market About doing business in Russia Contacts Market intelligence is critical when doing business overseas, and UKTI can provide bespoke market research and support during overseas visits though our chargeable Overseas Market Introduction Service (OMIS). To commission research or for general advice about the market, get in touch with our specialists in country - or contact your local international trade team. ξ Elena Anisina, British Consulate General in Ekaterinburg Tel: +7 343 253 5605 or email: ξ Maria Semchenkova, British Embassy Moscow Tel: +7 495 956 7372 or email: Contact your local international trade team Events UKTI runs a range of events for exporters, including seminars in the UK, trade missions to overseas markets and support for attendance at overseas trade shows. Pharmtech Date: 26-29 November 2012 Website address: Latest events – Biotechnology and Pharmaceuticals Useful links More about OMIS and other UKTI services for exporters
Posted: 29 September 2012

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