2014-03-17 22:13:01 - Russian Pharmaceutical Market Outlook to 2017 - a new market research report on companiesandmarkets.com
The pharmaceutical industry in Russia finally seems ready for a change. With the government adopting ´Strategy 2020´ to improve the production capacity of the Russian pharma sector, pharmaceutical companies have started investing in the Russian market. As a result, the Russian pharmaceutical industry has started growing at a steady rate.
In future, various factors such as increased support from the government, rise in expenditure on healthcare, and noteworthy growth in investments made by the private players will continue to boost the market. The pharmaceutical market is anticipated to grow at a CAGR of around 11% during 2012-2017.
Almost twice the number of clinical trials has been approved in 2012 as compared to 2011. This is indicative of the increasing government support in
order to boost domestic innovation. Further, current market driving forces and roadblocks have been discussed. On the one hand, increasing support from the government can be seen as a ray of hope for providing the market a necessary boost, while on the other corruption, deep rooted at every level, may act as a deterrent.
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