Ukrainian pharma market set to at least double between 2007 and 2010

The Ukrainian pharmaceutical market has been growing quite rapidly during the last five years - by 25%-30% per annum in terms of value - to reach $2.6 billion in 2007. During the first half of 2008, it had already exceeded $1.6 billion, growing by 42% year-on-year, according to PMR, a consulting and market research firm focused on central and eastern Europe.

It expects that the Ukrainian market will grow by more than 25% a year between 2008 and 2010 and to be worth $5.7 billion in 2010. According to the latest PMR report, Pharmaceutical market in Ukraine 2008, if a reimbursement system and health insurance had been implemented by the government promptly, the market would have grown even more rapidly.

Growth forecasts optimistic despite numerous obstacles