Ukrainian pharmaceutical market has great potential for development

The Ukrainian pharmaceutical market is the second largest market after Russia in the CIS countries. In the past five years, the Ukrainian pharmaceutical market has expanded rapidly at an average annual rate of 25% to 30%. By 2007, sales had been It reached US$2.6 billion. In the first quarter of 2008, the Ukrainian pharmaceutical market continued its rapid growth with sales reaching US$1.6 billion, a year-on-year increase of 44%.

The Ukrainian government is actively taking measures to promote the development of the domestic pharmaceutical market. The implementation of GMP standards, the continued popularity of medical insurance, and the increase in disposable income will promote the rapid development of the pharmaceutical industry. Lack of effective price control and expected high profits The rate will also attract more foreign investment. It is expected that the Ukrainian pharmaceutical market will continue to grow at an annual growth rate of more than 25% from 2008 to 2010, and the market size will reach 5.7 billion U.S. dollars by 2010.