According to our recent report, “Ukraine Pharma – New Opportunities for Growthâ€, Ukraine represents one of the fastest growing and lucrative markets in Europe, with its revenue exceeding US$ 2 Billion in 2007.
The market is largely driven by the increasing pharmaceutical spending as a result of robust economic growth of the country, as well as the increasing proportion of high-priced drugs in the overall pharma market. Between 2001 and 2007, average disposable income in Ukraine grew more than six-fold, thereby increasing drug spending strongly.
The proportion of high-priced drugs is also growing rapidly in Ukraine, with the average unit price of drugs increasing by around 20% in 2007 as compared to the previous year. In fact, in the hospital segment, the average unit price of drugs increased by more than 33%, thus fuelling growth in sales value despite a sharp decline in sales volume.
The future prospects of the market also seem very encouraging. The Ukrainian government recently proposed a reform to introduce a compulsory public health insurance scheme with the aim to make expensive drugs affordable to masses. Ukraine still lacks a public reimbursement scheme but with the introduction of public insurance scheme, the affordability of quality drugs, which were used to be paid largely out of pocket till now, will increase significantly. This will considerably boost the sales value and volume. The research report expects the Ukraine pharma market to grow at a CAGR of around 18% through 2012.
“Ukraine Pharma – New Opportunities for Growth†gives an extensive and objective analysis on the pharmaceutical market of Ukraine. The report investigates both the past and present trends in the pharmaceutical market, but its focus is on the future trends shaping the industry. The report thoroughly investigates the performance of both the retail and hospital segments of the pharmaceutical market. Based on various present and future indicators, the future of vaccines has been fully analyzed. The report thus gives valuable information to manufacturers/investors preparing to enter the Ukrainian pharmaceutical market.
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RNCOS, incorporated in the year 2002, is an industry research firm. We are a team of industry experts who analyze data collected from credible sources. We provide industry insights and analysis that helps corporations to take timely and accurate business decision in today’s globally competitive environment.
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