2013-12-24 21:44:20 - Fast Market Research recommends "Kazakhstan Pharmaceuticals & Healthcare Report Q1 2014" from Business Monitor International, now available
Kazakhstan remains the most attractive, and the only viable, pharmaceutical market in Central Asia for multinational drugmakers in terms of the overall regulatory environment and ease of doing business in comparison with neighbouring countries. The domestic market is constrained by the relatively small population and daunting infrastructure challenges; however, as healthcare infrastructure is eventually realised and services meted out, demand for pharmaceuticals is set to rise.
Headline Expenditure Projections
* Pharmaceuticals: KZT246.76bn (US$1.65bn) in 2012 to KZT273.92bn (US$1.84bn) in 2013; up 11.0% in local currency terms and 11.4% in US dollar terms.
* Healthcare: KZT1,332bn (US$8.93bn) in 2012 to KZT1,537bn (US$10.34bn) in 2013; up 15.4% in local currency terms and 15.8% in US dollar terms. Forecast adjusted slightly down due to
updated macroeconomic forecast.
Full Report Details at
- www.fastmr.com/prod/754578_kazakhstan_pharmaceuticals_healthcare ..
Risk/Reward Rating: Kazakhstan has a RRR score of 51 out of 100, making it the 12th most attractive pharmaceutical market in Emerging Europe. Although the Kazakh market is characterised by relatively few market barriers and rapid growth, the potential rewards for the industry are moderated by low per capita spending, an unfavourable rural-urban population split
Key Trends And Developments
* Turkish drugmaker Abdi Ibrahim announced in October its intention to begin construction of a new pharmaceutical manufacturing facility in Kazakhstan. The facility is expected to come online by the end of 2014 and address the markets of both Kazakhstan and neighbouring Central Asian republics.
* In February, Ministry of Health and competition officials gave the strongest signals yet that they would contemplate 'regulation of prices' of medicines , with the head of the Kazakhstan Agency for Protection of Competition saying an analysis of the market found several areas of concern that were driving higher prices. The timeline for the enacting of future pricing regulations is unclear, although BMI is concerned as to whether the development and eventual enacting of such controls will be done in consultation with the domestic and international pharmaceutical industry. BMI has previously outlined areas of concern, such as the fragmented wholesale sector and a lack of clear rules for doctors and pharmacists regarding providing patients with the cheapest generic alternatives. However, rather than setting prices or margin limits, BMI hopes that the Kazakhstani officials look at root causes of high prices and contemplates steps that would foster greater competition and the development of more efficient private-sector delivery, such as modern format chain pharmacies.
BMI Economic View: Kazakhstan is set for a period of solid, if not spectacular, real GDP growth in the years ahead, with our forecasts for 5.4% and 5.5% expansions in 2013 and 2014 respectively. Private consumption is set to remain the primary driver of growth, with oil production also maintaining its key position in the economy, despite subdued global prices and declining output.
BMI Political View: Kazakhstan will continue to shift its economic, as well as its political policy focus away from Russia and towards China over the coming years. China is continuing its development and purchase of oil pipelines and fields in Kazakhstan, and the Kazakh government has appeared more open to investment from Beijing rather than Moscow.
Partial Table of Contents:
BMI Industry View
- Pharmaceutical Market Forecast
- Table: Kazakhstan Pharmaceutical Sales, Historical Data and Forecasts, 2009-2017
- Healthcare Market Forecast
- Table: Kazakhstan Healthcare Expenditure Trends, Historical Data and Forecasts, 2009-2017
- Table: Kazakhstan Government Healthcare Expenditure Trends, Historical Data and Forecasts
- Table: Kazakhstan Private Healthcare Expenditure Trends, Historical Data and Forecasts
- Prescription Drug Market Forecast
- Table: Kazakhstan Prescription Drug Market Indicators, Historical Data and Forecasts, 2009-2017
- Patented Drug Market Forecast
- Table: Kazakhstan Patented Drug Market Indicators, Historical Data and Forecasts, 2009-2017
- Generic Drug Market Forecast
- Table: Kazakhstan Generics Drug Market Indicators, Historical Data and Forecasts
- OTC Medicine Market Forecast
- Table: Kazakhstan Over-The-Counter (OTC) Medicine Market Indicators, Historical Data and Forecasts
- Pharmaceutical Trade Forecast
- Table: Kazakhstan Pharmaceutical Trade Data And Forecasts
- Table: Kazakhstan Pharmaceutical Trade Data And Forecasts (KZTmn), 2009-2017
- Key Risks To BMI's Forecast Scenario
- Macroeconomic Forecast
Industry Risk Reward Ratings
- Central And Eastern Europe Risk/Reward Ratings
- Kazakhstan Risk/Reward Ratings
Industry Trends And Developments
- Healthcare Sector
- Healthcare Sector Financing
- Domestic Pharmaceutical Industry
- Wholesale And Retail
- Foreign Pharmaceutical Industry
- Clinical Trials
- Intellectual Property Environment
- Pricing And Reimbursement Regime
- Merck & Co.
- Demographic Outlook
- Table: Kazakhstan's Population By Age Group, 1990-2020 ('000)
- Table: Kazakhstan's Population By Age Group, 1990-2020 (% of total)
- Table: Kazakhstan's Key Population Ratios, 1990-2020
- Table: Kazakhstan's Rural And Urban Population, 1990-2020
Full Table of Contents is available at:
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