Our new report - "Uzbekistan Pharmaceutical & Healthcare Industries Overview 2018" is released. The report includes Uzbek 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 2012-2017 FY historical data with the forecast of the economics and pharmaceutical market numbers to 2018-2019.
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Uzbekistan Pharmaceutical & Healthcare Industries Overview 2018 provides an essential information about the Uzbek pharmaceutical market, its healthcare landscape, macroeconomic situation and:
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This report will enhance your view of the Uzbek pharmaceutical market, its healthcare environment by making you possible to:
This article is based on the "Uzbekistan Pharmaceutical and Healthcare Industries Overview 2018" report prepared by UPharma Consulting and contains short excerpts from this report.
In recent years, Uzbekistan has enjoyed a strong economic performance on the back of a favorable external environment and improvements in macroeconomic policies. Today Uzbekistan actively develops international trading. The country has own regulations that impact operations.
The country has experienced a trade surplus in recent years. Major exportable items of the country are gold, cotton, manufactures, and textiles. The main export partners of the country are South Korea, Turkey, Japan, US, and Russia. Metal, chemicals, and foodstuffs are the important importable items of the country. For imports, Uzbekistan depends upon countries such as Germany, South Korea, US, and Kazakhstan. Uzbekistan is seeking a rapprochement with the West. Thus, the country has refused to join the Eurasian Economic Union, which was established in 2014.
According to estimates the Uzbek GDP grew 5.3% y-o-y in 2017, from 7% y-o-y in 1H2017 and 7.8% y-o-y in 2016. On the demand side, the main driver of economic growth was investment, including a large public investment program to support real sector development in 2015–19 as well as private and state-owned enterprise investments. However, real investment growth slowed to 8.3% y-o-y in 1H2017 from 11.8% y-o-y in 1H2016. In 2017 81% of the GDP was related to non-state sector of the economy.
Pharmaceutical market of Uzbekistan is the third biggest pharmaceutical market in the CIS after Russia and Ukraine. With growth dynamics of about 8-10%, Uzbek pharmaceutical market is among the fastest-growing markets in the CIS region. The pharmaceutical industry started developing in Uzbekistan in 1993 with the establishing of state-owned Concern Uzpharmsanoat, uniting Uzhimpharm plant and Vaccine scientific and production association.
Development of the proper legislative framework and provision of tax preferences and privileges allowed creating a favorable condition for investments and development of the pharmaceutical industry. The number of pharma companies grew from 2 in 1994 to 68 in 2002 and 130 in 2012.
The new stimulus was given to the industry in 2017 when drug producers were freed from paying all taxes for 5 years. Also, companies, which implement projects for the creation of new production facilities and reconstruction of the existing ones have been granted an exemption from payment of all customs duties when importing technological equipment. The same year, the President of Uzbekistan issued the Order on the establishment of seven free economic zones, which will specialize in the cultivation of medicinal plant materials and their processing in special natural conditions.
Pharmaceutical & Healthcare Industries Overview 2017/2018 - is a professional industry report, which covers crucial economic, pharmaceutical and healthcare information for decision makers and industry professionals globally. The Overview will be useful for top-managers, business owners, consultants and other stakeholders of the Life Sciences industry, who analyze, plan entering or investing into the one of the CIS pharma markets.
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