Medical product sales in Russia grow by 9%
The Russian pharmaceutical market is going to grow in 2017 by 9% up to 24 billion euro. Pharmacies keep the cash registers ringing, because the consumers buy more and more medicaments than in the days of crisis. The increase in sales volumes of pharmacies amounts to 11%. The whole market is re-organized. Large pharmacy networks have used the crisis to their advantage to reinforce their positions on the market.
Russian pharmacy market grew in the first half of 2017 by 11,2 % compared to the same period of the previous year. Experts from the market research institue DSM Group expect the pharmaceutical market to grow in 2017 by 9% to 1,5 trillion rubles. (23,9 billion euro). The sales of packed pharmaceuticals in pharmacies is expected to increase by 11% to 894 million rubels (14,2 billion euro). In the first half of the year Russian consumers bought at retail pharmaceuticals worth 4,6 billion euro, which is a 13,9% increase over the same period of the previous year.
We would like to remind you, that on on the 6th of May 2017 the unified market for medicines and medical products of the Eurasian Economic Union entered into force. Medicines are now subjects to a compulsory registration. The Member States aknowledge both national and EAEU registrations. The transition periods applies until the 31st December of 2020. Manufacturers can choose, whether to register their products according to national or the Union rules. Starting from January 1st 2021 there will be only the unified procedure.