Clinical market in CIS to exceed €700m in 2014
Russia accounts for over 60% of market value
According to our estimates, the overall clinical trial market value of the CIS countries analysed exceeded $532m (€403m) in 2010 and reached $633 (€479m) in 2011 (a 19% year-on-year increase). The largest proportion of this value was accounted for by Russia – 63%, whereas the figure for Ukraine was 33% in 2011.
Political and legal situation crucial for development of clinical trials
“The rate of change of development over the next few years depends on many factors, and those of a political nature in particular. If there are no unexpected events, the market is expected to be worth more than $940m (€712m) in 2014.” Monika Stefanczyk. Head Pharmaceutical Market Analyst estimated. Market players canvassed by PMR observed that the situation pertaining to clinical trials in Russia could change after the parliamentary election due on March 2012. We expect an increase in the market growth rate if appropriate changes in current legislation (making the clinical trial approval process less complicated and time-consuming) are implemented. For the time being, the market in Russia could also accelerate because of new regulations which require conducting more clinical trials and Pharma 2020 plan.
The political situation in Belarus is not expected to change in the near future, and the country’s political isolation from the EU and US will, therefore, continue to hinder the development of clinical trials in this country.
In Ukraine, which has been recently relatively stable politically, it is important to retain this stability in order to continue to develop clinical trials.
It is worthy of note that all of the countries analysed need to compete with other emerging countries. As they are not EU members and are not in the Schengen zone, only a small percentage of their considerable potential has been used. For example, Ukraine uses only 10-15% of its potential, according to European Business Association data. The relatively modest value of these markets and their vast potential are the reasons of the predicted rate of development of Ukraine and Georgia of at least 10-20% over the next three years.
Increase of approximately 13% per annum in number of clinical trials between 2011 and 2014
There was a reduction in the number of newly registered clinical trials in selected CIS countries in 2009 and 2010, when the economic crisis severely affected the market. In 2009 the number of new clinical trials fell by almost 100. The situation reached its nadir, in terms of the number of new clinical trials registered, in 2010, when new legislation on clinical trials came into force in Russia. As Russia is the largest local market, this affected the joint results of all four countries, although Ukraine, for example, experienced growth in 2010. In 2011 alone the CIS market is expected to achieve growth of almost 13%. Between 2012 and 2014 the rate of growth of the number of new clinical trials is expected to be between 12 and 13%, reaching 1,177 trials in 2014.
Russia is the undoubted leader among the CIS countries in terms of both the number of on-going (708) clinical trials and the total (1,796). Estimates suggest that the number of clinical trials conducted every year is 600. Ukraine, with 320 on-going clinical trials, is the second largest market in the CIS. However, in the European arena both countries are relatively marginal. In Germany, which is the European leader, the total number of clinical trials is 8,292. Poland, with a 38,200,000-strong population, is actively engaged in 2,512 trials. A comparison with the Russian and Ukrainian populations (141,900,000 and 45,900,000) reveals little market saturation and vast untapped potential in these countries.
This press release is based on information contained in the latest PMR report entitled “Clinical trials in CIS countries 2012 – Russia, Ukraine, Belarus and Georgia. Development forecasts for 2012-2014”.
PMR (www.pmrcorporate.com) is a British-American company providing market information, advice and services to international businesses interested in Central and Eastern European countries as well as other emerging markets. PMR's key areas of operation include business publications (through PMR Publications), consultancy (through PMR Consulting) and market research (through PMR Research). Being present on the market since 1995, employing highly skilled staff, offering high international standards in projects and publications, providing one of most frequently visited and top-ranked websites, PMR is one of the largest companies of its type in the region.
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Clinical market in CIS to exceed €700m in 2014 here
News-ID: 210515 • Views: 1368
More Releases from PMR Ltd
60% of Polish SMEs use IT services
Approx. 60% of small and medium sized enterprises use IT services in Poland. Some 30% of SMEs declare to employ people responsible for IT. The number of portable computers used by SMEs has been growing. On average, there are five such computers per one SME. The proportion of companies which use EU funds to finance ICT development has gone down over the last two years. Use of IT services According to the
Ukrainian IT industry to keep on growing in 2012-2013
In the last two years Ukrainian IT market has been recovering after a sharp decline experienced in 2009. The market will continue to record double digit growth rates in 2012-2013. The macroeconomic and political situation will remain of crucial importance in the country. Current situation and key trends According to the latest report “IT market in Ukraine 2012. Development forecasts for 2012-2017” published by PMR, a market research company, the total
Retail grocery market to provide €117bn in 2014 in the CE region
PMR estimates that in 2011 the grocery market in six Central European (CE) countries was worth nearly €107bn, 2.8% more than the previous year when expressed in local currencies. The increase was generated foremost by the discount stores and supermarket segments, and was driven by the skyrocketing prices of foodstuffs. Schwarz Group, which operates the Lidl and Kaufland chains, is a leading grocery player in the CE region – as
Hungarian construction market to recover in 2013-2014
After a poor 2009-2012 for the Hungarian construction industry, from 2013 a visible market recovery is expected. The growth in 2013-2014 will result from the intense execution of EU co-financed infrastructure investments as well as some revival in building construction, particularly in non-residential buildings. According to the research company PMR’s latest report, entitled “Construction sector in Hungary 2012 – Development forecasts for 2012-2014”, weak macroeconomic environment, falling investment demand and poor
More Releases for Russia
Packaged Water in Russia
ReportsWorldwide has announced the addition of a new report title Packaged Water in Russia to its growing collection of premium market research reports. Packaged Water in Russia industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value and volume 2011-15, and forecast to 2020). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market. Synopsis: Essential resource
Medium & Heavy Trucks in Russia
ReportsWorldwide has announced the addition of a new report title Medium & Heavy Trucks in Russia to its growing collection of premium market research reports. Medium & Heavy Trucks in Russia industry profile provides top-line qualitative and quantitative summary information including: market size (value and volume 2012-16, and forecast to 2021). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the
Energy Drinks in Russia
ReportsWorldwide has announced the addition of a new report title Energy Drinks in Russia to its growing collection of premium market research reports. Energy Drinks in Russia industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value and volume 2011-15, and forecast to 2020). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market. Synopsis: Essential resource
Consumer Electronics in Russia
Summary After the collapse of retail volume sales of consumer electronics in 2015, the negative trend continued in 2016. Although prices of oil were partly restored, business investments and the real income of Russians continued to decline, making a fast recovery of Russia’s economy questionable. As a result, consumers in Russia became very cautious when making their purchasing decisions. Despite the strong overall decline in retail volume sales, the performances of
Consumer Health in Russia
Summary Russian consumers are becoming more restrained in terms of spending money on consumer health products. The trend towards economising has become more widespread due to an economic slowdown in Russia and the consequent decrease in consumers’ disposable incomes. Russians are showing a greater preference for cheaper remedies or refusing to purchase any in the case of mild ailments that can be cured by traditional medicines. This is particularly so for
Russia Hotels – Best Hotels Available in Russia
Are you tired of searching for best hotels in Russia through search engines, now there is no need to waste your valuable time digging search engines, because we proudly announce besthotelsrussia.com here you get all details about hotels available in Russia. Russia is the largest country in the world this place covers almost the whole of Asia and 40% of Europe. It also has huge population ranking in ninth position