Russian pharma market grew 10% to 2.85 trillion roubles in 2024

The Russian pharmaceutical market grew by 10% in value terms to 2.85 trillion roubles ($85 billion) in 2024, which was mainly due to the growth of it commercial segment, where the growth of sales was equivalent to 13.8%.

At the same time the public procurements’ segment demonstrated the by 2.6% sales’ growth, being significantly below inflation rates in Russia, reports The Pharma Letter’s local correspondent.

According to analysts of the Russian research agency DSM Group, there is the ongoing decline of public procurements in the Russian pharmaceutical market, which share in the overall sales’ structure since 2021 has declined by 9% from 42% to only 33% in 2024.  Such a decline is mainly associated with the lack of opportunities for manufacturers, operating in this segment, to increase prices for their drugs, since most of them are included in the list of vital and essential, which pricing is strictly regulated by the Russian state.