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Recent Growth of the Pharmaceutical Industry in Ukraine

Growth of the Pharmaceutical Industry in Ukraine

The pharmaceutical industry in Ukraine is the industry that develops the national economy. The pharmaceutical industry in Ukraine is amongst the ten biggest pharmaceutical industries in the Central and Eastern European (CEE) region. The Ukrainian drug market has not recovered from the 2014–2015 crisis, but it is constantly growing. Despite the country’s unstable social and economic situation, the domestic pharmaceutical market has grown. According to the government data, the volume of pharmaceutical market of Ukraine in 2019 amounted to 3.4 billion USD.

As per the research article published in “PHARMACIA,” more than 60% of medicines registered in Ukraine are generics, and only 12% are original drugs. Thus, the pharmaceutical market of Ukraine is mainly a generic market, which distinguishes it from the markets of developed economies, where the share of original drugs is much higher.

Statistical figures of growth of the pharmaceutical industry in Ukraine:

As per the UkraineInvest report, Ukraine’s pharmaceutical sector is one of the fastest-growing and most crisis-resistant consumer industries in the economy. A significant growth driver is import substitution, building a solid case for international pharma companies to increase investment by purchasing existing players or building their manufacturing in Ukraine.

In Ukraine, the pharmaceutical industry has great potential, combining intensive output growth and investments in R&D. In the conditions of increased demand for the products of pharmaceutical companies in Ukraine in 2016-2020, CAGR for a specified period was 11.5%, while capital investments grew at an average rate of 16%.

During 2016-2018, Ukrainian pharmaceutical manufacturers received nine GMP certificates from the regulatory authorities of the EU member states, which is a prerequisite for entry into European markets.

Pharmaceutical Industry

Strengths of the Pharmaceutical companies in Ukraine:

  • Increased production of generic drugs
  • Expertise in manufacturing medicinal products
  • Growing presence in foreign markets
  • Skilled personnel
  • Availability of primary pharmaceutical products

Export and Import from the Ukraine pharmaceutical industry:

The leading importers of medicines to Ukraine are Germany, India, France, Italy, Slovenia, and Hungary. In addition, about 80% of APIs are imported from China and India.

In the global ranking of exporters of pharmaceutical products in 2017, Ukraine was ranked 61st with $0.18 billion, indicating a significant export potential of the Ukrainian pharma. In 2018, Ukrainian pharmaceutical products were sold to 81 countries of the world, while in 2017, only to 50. The volume of export sales in 2018 amounted to $184 million. Also, over the past five years, domestic drug manufacturers have been increasing exports to Belarus, Kazakhstan, Azerbaijan, Uzbekistan, Moldova, and Georgia.

Pharmaceutical Industry

Prominent players in the pharmaceutical market of Ukraine:

Foreign companies primarily dominated the Ukrainian pharmaceutical industry until 2014. However, Ukrainian companies Farmak International and Arterium Corporation are recently emerging as the leading industry players. Some other prominent players in the Ukraine pharmaceutical market include:

  • Kusum Pharma
  • STADA Group
  • Biopharma
  • Acino
  • GlaxoSmithKline
  • Roche
  • AbbVie
  • Merck & Co.
  • Novartis 
  • Sanofi

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