Ukraine 

Ukraine: an enticing OTC and Prescription Drugs market at the border of Europe

In Ukraine, a new wave of healthcare reforms is also on its way. Life expectancy is relatively low, and the country’s health­care sys­tem lacks transparency. Both healthcare experts and the Ukrainian population itself are press­ing for effec­tive steps to improve the cur­rent health­care sit­u­a­tion.

As reported by the Gorshenin Insti­tute, 92% of the pop­u­la­tion in Ukraine desires healthcare reform. The Ukrain­ian Pharma mar­ket is again one of the fastest grow­ing in Europe, and high-priced prod­ucts from the West are not only in demand, but also exhibit good growth. In contrast to Rus­sia, for exam­ple, Ukraine cur­rently charges no VAT on med­i­c­i­nal prod­ucts. Experts hope that the intro­duc­tion of a spe­cific VAT will pro­vide the finan­cial basis for a health­care sys­tem.

Kaza­khstan and Azer­bai­jan have smaller, yet steadily grow­ing, mar­kets in the CIS region as well. Despite their cur­rent dis­tance from the TRIUMPH markets, Kaza­khstan and Azer­bai­jan are already exhibiting viable and inter­est­ing mar­kets, with con­sumer prices far exceed­ing those of the Russ­ian mar­ket. Like­wise, Poland, Roma­nia, and Bul­garia also exhibit great poten­tial to develop within the TRIUMPH markets frame­work in the future.

To date, many health­care com­pa­nies have over­looked these EU mar­kets, where growth poten­tial reaches into the dou­ble dig­its. The requirement of sus­tain­able growth unfor­tu­nately excludes Kaza­khstan and Azer­bai­jan from being counted among the strictly defined TRIUMPH Emerg­ing Mar­kets. These facts, how­ever, should not deter companies from keep­ing a close eye on the devel­op­ment of such promis­ing mar­kets. The same could be said for other sim­i­larly grow­ing mar­kets, like those in the Czech Repub­lic and Slo­va­kia.

CPC Press Releases on Ukraine: 

Ukraine: the pharmacy market segment