Expert Pharma Group

👉A history in brief: The makeup of the Russian pharma market
In the past two decades, Russia's pharmaceutical market has been outside the world's top ten pharmaceutical markets, but it has grown significantly and is expected to follow this trend.

According to leading business reports, it will grow from $20.91 billion in 2016 to $36.61 billion by 2021. This means a compound annual growth rate of 13%, which enables Russia to be firmly placed in the world's top ten largest markets. Russia's domestic drug market is mainly made up of generic drugs, accounting for about 70% of its pharmaceutical products.

There are two main markets. Commercial market and state government procurement market. The commercial market accounts for 85% of the total.

It is a well-known fact that Russia has always been an importer of drugs. Supplies come mainly from European manufacturers.
And this trend is highly unlikely to be changed despite some attempts, as Russia will be immensely dependent on pharmaceuticals imports.💊

On April 26-th is celebrated the World Intellectual Property Day to learn about the role that intellectual property rights play in encouraging innovation and creativity.
26 April was chosen as the date for World Intellectual Property Day because it coincides with the date on which the Convention Establishing the World Intellectual Property Organization entered into force in 1970.