Russian drug market may grow substantially this year

The Russian drug market grow may substantially this year due to the general stabilization of economic situation in the country and the existing stable demand for drugs from middle and high-priced segments of the market, The Pharma Letter’s local correspondent report.

Most of analysts expect the growth of the market in the second half of the current year although it demonstrated generally negative results at the beginning of the current year.

According to data of the Russian pharma sector analytics agency DSM Group, the total market value in first-quarter 2023 amounted to 663 billion roubles ($8.03 billion), down 12% year-on-year.