Bio/Pharma Market Research
Russia is one of the fastest growing emerging pharmaceutical markets in the world. Experts predict the doubling of the market by 2020. The average growth rate is 10% annually. According to the governmental strategy, the share of the drugs produced locally will reach 50% of the market by 2020 in monetary terms. Gastroenterology, endocrinology, respiratory, cardiovascular, and CNS medications take the lead in the present sales structure. The Russian pharmaceutical market has become more and more interesting for the foreign players; the number of M&A and licensing deals is increasing.
Such a market growth is determined by many factors. In recent years, the Russian state has invested huge amounts of money in biotechnology and pharmaceutical R&Ds and encouraged the localization of drug production. The adoption of the GMP standards in Russia has resulted in increased prices and business mergers. Moreover, recently there has been a shift in consumer demand toward more expensive drugs. Russia is an ideal branded generic market, as consumers are willing to pay higher prices for brands associated with quality. However, the current increase of prescriptions by INN causes the significant changes in marketing strategies of Bio/Pharma. The regulatory environment has become the key factor determining the marketing strategies of pharmaceutical companies in Russia.
Successful market access depends on the careful market analysis. ARS offers its Clients express pharmaceutical and biotechnology target market research and identification of business opportunities in Russia. The company provides research analysis based on reliable and accurate data on sales volume, pricing and turnover of a certain medication (INN) in retail and public procurement sectors. Such a study allows the Clients to determine the product’s profitability, estimate the level of competition, develop effective marketing strategy, and streamline business development efforts.
ARS conducts sales-dynamics research and analysis for products from various treatment groups in retail, hospital, and reimbursement segments; evaluates the need in specific drug products on the Russian pharmaceutical market and sales potential; provides its Clients with other kinds of support.