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Uzbekistan is rapidly emerging in Central Asia as a promising market for pharma, MD growth over the next 5 to 10 years. The country benefits from solid economic development and strong government support, bolstered by local experts and strategic initiatives. These factors create fertile ground for OTC and Rx companies looking to expand.
Market Overview, Economic Growth and Market Drivers in the Uzbekistani Pharma Market
Figure 1. Pharma Landscape Overview in Uzbekistan
The pharma industry in Uzbekistan is on an upward trajectory. According to the CPC database, the projected ex-factory sales for Uzbekistan’s pharma market in 2035 is approximately USD 1.85 bln, assuming a steady CAGR of 7.21%. Prescription drugs dominate this landscape, accounting for 79% of the market at USD 1.46 bln, while OTC medicines make up the remaining 21% at USD 0.39 bln.
According to the “Uzbekistan–2030” strategy, the country’s GDP is set to grow to USD 200 mln by 2030. GDP per capita is on the rise, and the population continues to grow, expanding the potential customer base for pharma products.
Government Support and Free Economic Trade Zones in Uzbekistan
The Uzbek government is actively supporting the pharma industry through various initiatives. One of the most significant projects is the establishment of the Tashkent Pharma Park, an innovative scientific and production pharmaceutical cluster.
Additionally, Uzbekistan offers several other free economic trade zones, providing tax incentives, simplified customs procedures, and other benefits to attract foreign investors.
Figure 2. Free Economic Trade Zones (FETZ) for the Pharma Industry in Uzbekistan
Market Opportunities and Trends in the Uzbekistani Pharma Landscape
The Uzbek pharma market offers several opportunities for international companies:
- There’s a noticeable trend toward increased consumption of Rx drugs, suggesting a growing need for specialized medications.
- Some promising segments with above-average projected growth rates include oncology, cardiovascular, diabetes, anti-infectives, biopharmaceuticals, and dermatology.
- The pharma market in Uzbekistan is largely import-dependent, especially in the OTC drug segment, which presents significant opportunities for foreign companies to fill market gaps and meet consumer demand.
- The weighted average cost of drug packages is also on the rise, indicating a shift toward higher-value products.
- The government’s efforts to improve the healthcare system and increase access to quality medicines create additional demand for pharma products.
Figure 3. Key Players in the Uzbekistani Pharma Market
Conclusion
Uzbekistan offers a compelling opportunity for pharma, MD and OTC companies seeking growth in new markets. Companies that navigate the regulatory landscape and establish strong local partnerships can capitalize on Uzbekistan’s market potential. The combination of market demand, economic incentives, and a supportive business environment makes Uzbekistan an attractive destination for investment in the pharma, OTC and medical device sectors.
Chameleon Pharma Consulting Group specializes in internationalization, market entry and regulatory projects in the areas of consumer health, pharma, food supplements, medical devices, and cosmetics in Latin America, Asia, the US, Europe, MENA, and CIS. We have completed over 300 international market entry projects, offering:
- Systematic Country and Product analysis (portfolio analysis),
- Systematic Local Partner Identification,
- Registration and Regulatory Affairs,
- M&A Projects and Identification of Fresh Acquisition Targets
- Digital Transformation Services (strategy consulting, e-learning, social media analysis, SEO optimization and other).
For your individual questions please contact us by e-mail at service@chameleon-pharma.com.
