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Share of domestic drugs in Ukrainian pharma market up to 37% in monetary terms over 10 years – study
KYIV. Sept 16 (Interfax-Ukraine) – The share of domestic drugs in the Ukrainian pharmaceutical market over the past ten years has grown from 28% to 37% in monetary terms, according to the data of the Pharmaceuticals Industry of Ukraine 2021 guide, published by Top Lead in partnership with the pharmaceutical company Darnitsa with the support of an analytical project Business Views.
According to the released data, since 2015 the export volume of domestic medicines has increased to $235 million.
According to the guide, the twenty largest companies in the industry in 2020 were able to increase product sales, and more than half of them increased their presence in the pharmaceutical market.
As of the beginning of 2021, the volume of the pharmaceutical market was estimated at $4 billion. At the same time, the average annual growth rate of the pharmacy segment, which was 12.6% before the outbreak of the pandemic, slowed down to 7.9%.
According to Chairman of the Board of Directors of Darnitsa Group Dmytro Shymkiv, Ukrainian pharmaceuticals owe their resilience to global economic shocks to a high degree of innovation.
The authors of the study emphasize that before the start of the pandemic, Ukrainian pharmaceutical manufacturers invested a total of $1.5 billion in production automation and digitalization of management processes, which made it possible to significantly increase labor efficiency and avoid drug shortages during a lockdown.
In addition, the authors of the study note an increase in the level of digitalization of the service component. In particular, we are talking about the transition to electronic document management, the gradual introduction of electronic prescriptions and the popularization of online retail drug trade.
According to experts, by 2026, the share of e-commerce in the pharmaceutical industry will reach at least 15%.
"Provided that a certain course is adhered to – deepening legislative integration with the EU, reforming the healthcare system, developing public-private partnerships – the Ukrainian pharmaceutical industry will continue to develop its potential," the authors of the study emphasize.
