Russian govt support will open up lucrative health care opportunities

Despite the uncertain economic environment, Russia still represents a promising health care market with strong potential for further growth. The growth will be primarily driven by strong governmental support, which aims at reversing the gloomy state of the Russian health care system and deteriorating demographic situation. The positive market outlook is also based on the expectation that the incomes of an increasingly health-conscious Russian population will resume an upward trend.

A new analysis from Frost & Sullivan ( http://www.medicaldevices.frost.com), Overview of Pharmaceutical and Medical Devices Industry in Russia and CIS, finds that, despite a tumultuous 2009, the Russian health care markets will continue exhibiting respectable growth rates. Having shrunk by 6% in US dollar-terms, the pharmaceutical market has grown at 28% in roubles, while the medical devices market has expanded at 4%-5%. In the forecast period 2009-2013, both segments will grow at above world average rates, explained by under-satisfied home demand for healthcare goods and services.