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Kazakhstan Pharmaceuticals and Healthcare Report Q3 2008
Business Monitor International, Aug 2008, Pages: 62
The Kazakhstan Pharmaceuticals and Healthcare Report provides independent forecasts and competitive intelligence on Kazakhstan's pharmaceuticals and healthcare industry.
Kazakhstan’s pharmaceutical and healthcare markets have developed strongly over the past decade, driven by economic improvements. In fact, Kazakhstan's President recently claimed that the country's health expenditure had increased 12-fold since the country gained independence in 1991. Indeed, economic prosperity has allowed greater investment in the health infrastructure, with around 4,000 healthcare units of varying scope being built in rural areas over the past few years. In the meantime, 350 large medical centres have been constructed across the country, while work on 56 hospitals and 83 outpatient hospitals has began in 2008.
By 2012, the market is expected to be worth around US$1.645bn, growing at a CAGR of some 20% in the forecast period. The economy is expected to grow by around 8% in 2008, with the trend also benefiting healthcare and pharmaceutical expenditure. More specifically, the government is planning to raise the amount of GDP spent on healthcare to 3.7% in 2008. In 2004, only 3.5% of GDP was spent on health. Given the predicted GDP increase, the absolute difference in healthcare funding is likely to be substantial.
However, modernisation and expansion of healthcare and pharmaceutical access will come at a price. Consequently, in June 2008, in an effort to lower state expenditure on pharmaceuticals, Kazakhstan's Ministry of Health announced the creation of a new centralised system for drug distribution, which will cover between 70-80% of hospital drugs. More specifically, a single company-concessionaire, formed through a public-private partnership, will be chosen to procure and supply medicines to state organisations through a three-year renewable contract. The system will supply medicines to hospitals at lower prices, due to centralised bulk purchasing, allowing extra resources to be allocated to expanding the scope free health services in the country.
Finally, in the Business Environment Ranking matrix for Q308, Kazakhstan is once again ranked 15th (above only Serbia) out of the 17 regional markets surveyed in CEE, now that Turkey has been included in this Emerging Europe region. In this quarter, Kazakhstan shares the position with Ukraine, as in Q108. While enjoying a considerable level of political and economic stability, the country is marked down for absolute market value and per capita consumption of medicines, as well as the lack of universal reimbursement and plans to introduce a fixed average price for outpatient medicines.
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