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BMI View: The mid-term outlook for Kazakhstan's pharmaceutical and healthcare
markets is mixed. The healthcare system is set to improve, with the introduction
of a public health insurance system and e-health technology; however, the
formation of the Eurasian Economic Union medicines market is facing ongoing
delays. Moreover the country's poor regulatory environment and intellectual
property respect will continue to present challenges for innovative drugmakers.
Headline Expenditure Projections
■ Pharmaceuticals: KZT349.57bn (USD1.57bn) in 2015 to KZT381.54bn (USD1.13bn) in
2016; +9.2% in local currency terms and -28.0% in US dollar terms. Forecast in
line with last quarter.
■ Healthcare: KZT1.91trn (USD8.58bn) in 2015 to KZT2.18trn (USD6.45bn) in 2016;
+13.9% in local currency terms and -24.9% in US dollar terms. Forecast revised
downwards from last quarter.