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Armenia Pharmaceutical & Healthcare Industries Overview 2018

Armenia Pharmaceutical & Healthcare Industries Overview 2018

  • February 2018
  • 33 pages
  • ID: 5365318
  • Format: PDF
  • By UPharma Consulting


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Armenia Pharmaceutical & Healthcare Industries Overview 2018. The report comprises the overview of Armenian economic, pharmaceutical and healthcare latest trends in a tailored made systematic and business styled manner. The Overview was developed for decision makers and industry professionals, life sciences stakeholders globally. It covers the 2012-1HY 2017 historical data with the forecast of the economics and pharmaceutical market numbers to 2018-2019.

The Republic of Armenia is a country in the South Caucasus region of Eurasia located in West Asia in the Armenian Highlands. Armenia is a landlocked country. In 2016, the country’s GDP amounted US $ 10.55 bn (130th in the world rating).

The main pillars of the Armenian economy are metallurgy, textile industry, food industry, machinery, production of construction materials etc. The main trade partners of the country in export are Russia, Bulgaria, Georgia, Canada, Germany and Iraq, in import – Russia, Georgia, United Arab Emirates, China and Germany.

Armenia’s pharmaceutical sector traditionally suffered from a lack of transparency, low numbers of domestic companies and a prevalence of smuggled drugs. Breaking the old habits of the healthcare system was not an easy task in 1991 just as the Soviet Union collapsed.

The government implemented the international GMP standards to improve the quality of local pharmaceutical production and expand external markets, in 2013. All local pharmaceutical manufacturers are expected to be complied with GMP standards by the end of 2019. Currently, only five out of 19 producers of pharmaceuticals in Armenia are GMP-certified.

Armenian pharmaceutical market consists of manufacturers, distributors/ wholesalers and retailers. ArmStat - the official statistical service- reports about 4,800 specialists are currently working in the pharmaceutical sector of the country. About 3,3 ths employees are related to the retail sector, and 900 employees work in wholesale companies. Most of the production companies on the pharmaceutical market are small or medium-sized, employing about 30-100 workers. Importing companies are presented in a quantity of 43.

Foreign companies dominate the market. There are two Armenian companies only which are represented in the list of TOP-20 companies by sales – Liqvor and Arpimed. The best-selling products in 1H2017 were Concor (bisoprolol, Takeda), Noliprel (indapamide + perindopril, Servier) and Prestance (perindopril + amlodipine, Servier).

In 2016, the pharmaceutical market of Armenia amounted almost US $ 0,13 bn. In 1H2017, the total market sales grew 1.4% in values vs 1H2016. In volumes, the previous period growth amounted 2.5%.

There are more than 1,700 pharmacies in Armenia; all of them are private. The biggest pharmacy chains in Armenia are Alfa Pharm (145 PoS), Natali Pharm (71 PoS) and Esculap (25 PoS).

There is no regulation of retail prices of drugs in Armenia. Moreover, high prices of drugs in pharmacies promoted by the absence of their preferential taxation. Drugs are taxed at the regular 20% VAT rate. Because of the high competition, many pharmacies reduce retail prices to increase their sales and switch to round-the-clock work. They also offer visitors some additional services for free.

The local pharma market of Armenia is expecting a moderate growth in the following years (3-5% in values and 0.8-1.5% in volumes). Local companies are striving to receive GMP certificates by the end of 2018, which should stimulate their export especially in the EEU member states. Some producers may attempt to enter the EU market.

The report covers a 2012-1HY2017 data with the forecast of the economics and pharmaceutical market growth to 2018-2019.

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