Dallas, TX: ReportsandReports announce it will carry Kazakhstan Pharmaceuticals and Healthcare Report Q3 2010 Market Research Report in its Store.

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BMI retains its robust five-year growth forecast for the Kazakhstan pharmaceutical market, with the US dollar value of the market rebounding on the back of a resurgent local currency in 2010. Our forecast sees a strong economy - driven by increasing oil and gas output and anticipated strong global prices for these exports - and appreciating currency over five-year and ten-year forecast periods. BMI calculates a compound annual growth rate (CAGR) in US dollar terms of 17.47% for 2009-2014. Full-year data for 2009 showed an 18-22% boost in market value in local terms, with a slight contraction in US dollar value.

For Kazakhstan’s bureaucrats and pharmaceutical producers, the goal is to deliver tangible increases in domestic production to meet President Nursultan Nazarbayev’s target of ensuring that 50% of medicines, in volume terms, are domestically sourced by 2014. Local production, according to the Farmmedindustriya industry association, increased by 23.4% to KZT12.4bn (US$83.7mn) in 2009. A decisive factor in supporting local output will be state purchasing. State-owned distributor SK Farmatsiya reported an increase in its share of domestically-sourced purchasing in 2009 from 8% to 23%, in volume terms. Officials say the country is on course to meet the 2014 deadline, while the country has adopted an industrial plan for the industry and a number of new production facilities are in the pipeline.

To date there has been little tangible impact from the Customs Union of Kazakhstan, Russia and Belarus launched at the beginning of 2010. BMI’s view is that the union is less important in terms of internal pharmaceutical trade - at least during the forecast period - but a significant player amid plans to harmonise market authorisation and other regulatory standards. Harmonisation, if achieved, could make these three key CIS markets easier to navigate for all players - an important development. However, some major regulatory gaps remain in Kazakhstan, such as the absence of a finalised set of local Good Manufacturing Practice (GMP) standards - despite a 2014 GMP compliance deadline - and a need to develop the country’s formulary system and link it to the Essential Drugs List.

The country’s pipeline of domestic production projects represents, potentially, the most far-reaching development for the local sector since privatisation in the 1990s and BMI estimates the value of current projects at around US$200mn, a multiple of current industry value. Crucially, many of these projects require funding from the Kazakhstan Development Bank (KDB) and National Innovation Fund, as the once-strong private banking sector has yet to recover from the global financial crisis. The furthest advanced project among locals is one by domestic champion Chimpharm to build a new tablet factory in a new industrial park in Astana. The company also has plans to expand production facilities in Shymkent. Other players, including GlobalPharm, Nobel AFF, and Romat are reportedly planning new lines or new plants. If funding can be found in the state and private sector for these projects and the country can remain politically and economically stable, Kazakhstan will have an industry capable of meeting a significant share of local needs and meeting demand in growing regional markets like Uzbekistan.

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