NewswireTODAY - /newswire/ - Noida, Uttar Pradesh, India, 2012/02/09 - Backed by government support and private sector investment, the Russian pharmaceutical market is likely to grow at a CAGR of 13% during 2011-2013, says RNCOS.

According to our new research report,“Russian Pharma Sector Forecast to 2013”, the Russian pharmaceutical industry has been witnessing stupendous growth during the last few years. Government support and other key factors have led to create a US$ 18.09 Billion worth Russian pharmaceutical market in 2010. In the coming future also, it is foreseen that there will be a noteworthy growth in the private sector investments with the tremendous effort of the government towards promoting the local manufacture of drugs. On the basis of the existing circumstances, the market is estimated to grow at a CAGR of around 13% amounting to around US$ 25.68 Billion by the end of the forecast period (2011-2013).

It has also been found that the Rx or prescription drugs experienced faster growth compared to the OTC drugs in the past. Rx drugs not only grew by 0.7 percentage points in 2009, but also occupied a higher market share in terms of Rubles’ value due to their price value against the OTC drugs. The share of OTC drug is expected to further reduce as the drug affordability of people is improving, thereby enabling them to go for patented drugs.

The report provides precise and reliable information supplemented by relevant statistics of the Russian pharma sector. It seeks to explore the growth opportunities of the Russian pharmaceutical market and provides reliable figures of the key segments. It also presents an in-depth insight of the commercial drug market and parapharmaceuticals along with a brief overview of the key industry players to provide a balanced research outlook of the market.

While compiling the data, the report covered a brief outlook on the clinical trials market in order to provide a snapshot of the research domain. Forecasts in key sections of the report make use of proper base and techniques that provides a realistic future picture. Overall, the report is intended to present clients with an optimum source of knowledge and statistics on the concerned industry.

Report/IM243

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