Kazakhstan Pharmaceuticals and Healthcare Report Q1 2011
May 4. Business Wire
The Kazakhstan Pharmaceuticals and Healthcare Report provides industry professionals and strategists, corporate analysts, pharmaceutical associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Kazakhstan’s pharmaceuticals and healthcare industry.
BMI continues to believe that the Kazakhstan pharmaceutical market will remain one of the fastest growing in the Central and Eastern European (CEE) region over the next five years. Its prospects remain strong over our 10-year forecast period, provided the country can deal successfully with the serious economic and political challenges that loom over the long term. Our updated forecast sees the market growing at a robust US dollar compound annual growth rate (CAGR) of 17.85% for 2009-2014. The market is expected to reach a value of US$2.15bn in 2014, more than twice 2009 levels and representing per-capita medicines expenditure of just under US$129.
The Kazakhstani government will drive much of the market’s development in coming years, in contrast with previous years, when out-of-pocket spending was the primary driver. The Ministry of Health said in August that it was putting forward a healthcare plan and would spend US$3.2bn between 2011 and 2015 as part of its ongoing single healthcare system’ project, which is aimed at undoing the decentralisation (and consequent fall in standards and rise in corruption) of the previous two decades. In summer 2010, the government adopted the Pharmaceutical Industrial Development Programme for 2010-2014, which provides loans and other incentives for privately-owned producers to open new production lines and facilities as well as attract foreign investors.