Importation of medicines into Russia exceeds export by 14 times

2621
money-medicines

Russia could be called a “net importer of medicinal products”. Its imports exceed the exports by 14 times. This is the finding of Russian Pharmaceutical Market Trends in 2017, an analytical report prepared by Deloitte CIS.

Almost 80% of imports come from Europe, primarily, Germany and France.

Post-Soviet space is the main export market for Russian-made medicinal products (86% of total exports).

According to EIU (The Economist Intelligence Unit), by 2021, the global pharmaceutical market will grow by 26.3% in dollar terms. Russia is not in the list of the top ten countries in terms of market volume. However, according to EIU forecast, in five years, the sales in Russia will increase by 31.4%, and it will retain the 14th place in the ranking.

According to the forecast of the Russian Ministry of Industry and Trade for 2017, the manufacturing of drugs should increase by 20% in physical terms and 8% in monetary terms (rubles). The manufacturing of medical devices will grow by 17.2% in physical terms and by about 4% in monetary terms.