EDB researchers study development prospects for the SES pharmaceutical market
Almaty, 4 December 2013. The pharmaceutical market of Belarus, Kazakhstan and Russia is one of the most dynamically and rapidly growing markets in the world. At the end of 2012 the aggregate size of the three countries’ market reached US $32.4 billion, having grown by 15.6% and 7% in 2011 and 2012 respectively. These data are provided by Eurasian Development Bank’s (EDB) newest sector report titled Development Prospects for the Pharmaceutical Market of the Single Economic Space.
The report prepared by the Bank’s Research Department analyses the problems of the pharmaceutical sector and integration processes and proposes conclusions about the prospects for its advancement.
The paper states that in recent years the pharmaceutical industry of the SES member states has been developing in a dynamic fashion, with the demand in the domestic markets outpacing production.
The authors believe that one of the most important and realistic opportunities for the development of the sector and improvement of its export potential today are integration processes in the region.
“The harmonisation of law in the framework of the Customs Union and the SES will foster the free movement of goods made in Russia, Belarus and Kazakhstan, a reduction in the prices of medicines and, in the longer run, the improvement of their quality,” states the report.
The report is part of the series of EDB research papers studying integration processes in various sectors of its member economies. All sector reports are available free of charge at https://eabr.org/analytics/
Additional Information
Eurasian Development Bank is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth and the expansion of mutual trade and other economic ties in its member states. EDB’s charter capital exceeds US $1.5 billion. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan. Read more at https://www.eabr.org.