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Russia to join top 10 global drug markets in '08
Russia's pharmaceutical market is expected to grow by a third this year, ranking the country in the world's top ten pharmaceutical markets.
Russia's total pharmaceutical market volume is expected to reach $18.4 billion this year compared with $14.3 billion in 2007. Sales are rising due to growing income of the population, it said in a study.
The commercial segment of the market rose by 30 percent in the first six months of this year to $4.55 billion because of faster price inflation than in past years.
State orders rose more quickly, by 43 percent to $2.51 billion in the same six months, largely spurred by increased spending on a federal programme to provide low cost medicine to the needy.
The non-medicinal segment, which includes dietary supplements, rose by 32 percent year-on-year to around $72 million, while the share of non-medicinal goods made up 28 percent of total drugstores' sales.