Uzbekistan pharmaceutical market development prospects
Pharmaceutical market of Uzbekistan is a rapidly developing branch in the economics of Uzbekistan. For the last years pharmaceutical market rate growth was about 30%. But still foreign manufacturers dominate on the pharmaceutical market. In Uzbekistan production of such companies as “Berlin Chemie/ Menarine Pharma” (Italy), «Novartis» (Switzerland), “Sanofi-Aventis” (France), etc. is in demand.
The biggest amount of the pharmaceutical market consists of antimicrobial medicines, that is, antibiotics; they are more asked-for not only abroad, but also in Uzbekistan. Formerly all imported medicines in Uzbekistan were subjected to preferential taxation. But in 2011, according to the Decree “On Regulating Import of Finished Medicinal products”, the Cabinet of Ministers of Uzbekistan enacted the list of imported medicines to which Vat benefit is not applied.
Antibiotics of cephalosporin range are also included in this list. VAT benefits are not applied to them. In spite of this the amount of cephalosporin market is growing at the account of domestic manufacturers and import. In 2011 its market in pack reached 56 259 393. It is 74% more than in 2010. Gross share of cephalosporins in 2011 was 11% of the whole market of medicinal products in monetary terms.
Now let’s have a look at overall condition of pharmaceutical market of Uzbekistan for 2011/2010 years.
Indexes of2011/2010 years:
Dynamics of pharmaceutical market development in Uzbekistan.
Today the pharmaceutical market of Uzbekistan is one of the rapidly developing among markets of CIS countries. Over the last years the legislative acts, distinctly regulating this field of activity were enacted in the country. In the long view it is supposed to increase the volume of field industry thrice, and production export – in 2.2times.
Uzbekistan pharmaceutical market in the first half of 2011 significantly grew (Fig. 1). And maximal growth is indicated in national currency (+37%).Growth in physical terms was 10% that is a sign of positive tendency after the decline in the first half of 2010, when the purchases went 34% down.
The volume of pharmaceutical market of Uzbekistan 2007-2011 years
As we see from the table the volume of the pharmaceutical market of Uzbekistan in the recent 5 years reached 500 USD millions. It is forecasted that in 2013 the volume of Uzbekistan pharmaceutical market will reach 680 million dollars. 80% of the pharmaceutical market depends on imported medicinal products; today the imported medicinal products supply 60%-95% percent of Uzbek pharmaceutical market. Generally Uzbekistan imports medicinal products from Ukraine, Russia, India, and Germany. In the following 5 years the import of medicines will increase by 20-22% every year and in 2013 it will reach about 620 million dollars. Generally, Uzbekistan exports the medicines to CIS countries. Year by year the export rate will increase approximately by 20% per year. In 2008 the amount of exported medicinal products from Uzbekistan reached $ 2 million . As analysts suppose, in such growth rates of medicines domestic demand the volume of pharmaceutical market in the following years may reach 1 billion dollars .
In spite of high growth rates of pharmaceutical industry of Uzbekistan the further development of this sector is necessary. Development of medicinal products on the basis of local researches and local raw material is among priority tasks. Uzbekistan’s flora is rich: 138 families, 1023 genera and 4500 species of plant (including 1150 medicinal herbs). That allows producing peculiar medicinal products and biologically active supplements on the basis of local raw materials.