According to the latest report from IQVIA, the Russian pharmaceutical market is demonstrating sustained growth despite various challenges. In recent months, there has been a notable increase in both sales and production within the sector. Overall, the findings from IQVIA reflect a resilient pharmaceutical market in Russia, with promising potential for further development in the coming years.
IQVIA reports that from January to October 2024, the retail segment of the pharmaceutical market reached 1.498 trillion rubles, up 16.6% from 2023. This is due to both inflation and an increase in real incomes of the population. The pharmaceutical market reached 2,442.2 billion rubles, a 16% increase from last year. The retail segment accounts for 61% of total sales, while the state segment accounts for 39%. In packages, the market also showed a slight decrease of 1% – total sales amounted to 5.36 billion packages.
Eight of the ten largest companies are showing growth in both revenue and packages. The TOP-10 manufacturers include such companies as AstraZeneca, Bayer Healthcare, Roche and Biocad.