Russia's pharmaceuticals market forecast to grow to $50.9 billion by 2018

This quarter, Business Monitor International introduces 10-year forecasts for the Russian pharmaceutical markets, providing an opportunity to look beyond the current financial crisis and assess the growth potential for the largest and most populous pharmaceutical sector in Central and Eastern European (CEE).

By 2018, it forecasts that the Russian pharmaceutical market will be worth $50.9 billion, representing an 11.28% compound annual growth rate (CAGR) - making Russia one of the most attractive markets over the long term. For the 2008 to 2013 period, growth in US dollar terms is forecast at a CAGR of 13.30%, reaching $31.6 billion in 2013, 'an impressive figure given our current forecast that the market will contract in US dollar value by 9.1% this year,' says BMI.