Russian government expects doubling of domestic pharma market by 2030

The Russian government predicts the domestic pharmaceutical market will more than double within the next decade, which, however, will mainly depend on the successful implementation of the existing state strategy in the field of pharmaceutics, which is designed until 2030, according to recent statements of Russia’s first deputy minister of industry and trade Sergey Tsyb, report The Pharma Letter’s local correspondent.

According to Mr Tsyb, the market may reach about 3 trillion roubles ($46 billion) in value terms by 2030. This is significantly higher the figure for last year, when the value of the market amounted to 1.28 trillion roubles, with the share of domestic drugs at about 30.4% of it.

One of the drivers for a further market growth will be the ever growing support from the state.