Economic Factors Of Russian Pharmaceutical Market Development

Abstract

The development of the domestic pharmaceutical market and the building up its internal potential today is one of the most important socio-economic tasks. One of the key problems of the Russian pharmaceutical market at the present stage is its total import dependence, which has been persisting for many years. The domestic pharmaceutical industry has a low production potential due to the lack of investment in the industry due to its low attractiveness. This circumstance creates conditions under which the country's selfsufficiency in essential drugs in conditions of international isolation is impossible. During the study, the assessment of economic factors in the development of the pharmaceutical market in Russia as one of the largest and most significant in the country's economic system was implemented based on an analysis of trends in changes in the leading indicators of its development physical and value terms. It has been established that a qualitative expansion of the pharmaceutical market in the Russian Federation has not occurred in the last two years, and the nominal growth of its value is associated with a depreciation of the national currency and an increase in average prices for pharmaceutical products. As a key economic factor determining the development of the pharmaceutical market, it is worth highlighting the incomes of the population, which in recent years have tended to decline against the background of an increase in the level of poverty in the country.