"Kazakhstan Pharmaceuticals & Healthcare Report Q3 2016" now available at Fast Market Research

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 ProjectionsPharmaceuticals: 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.Risk/Reward IndexKazakhstan has been given a BMI Risk/Reward Index score of 43.5 out of 100 in Q316, lower than last quarter's score of 46.7. As a result, the country has fallen to 17th position (14th in Q216) in our Central and Eastern European matrix, below Croatia (46.0) and above Serbia (43.0). Although the Kazakh market is characterised by relatively few market barriers and rapid growth, the industry's potential rewards are moderated by low per capita spending (weighted score of 3.6 out of 12) and a low pensionable population (score of 3.2 out of 8).Latest UpdatesIn March 2016, Kazakhstan's Deputy Prime Minister announced that the country would invite foreign experts to act as consultants to aid the 'Densaulyk' public health programme development process, which involves the implementation of a Unified Public Health System.According to the Ministry of Health, the incidences of hepatitis B infection in Kazakhstan reported in 2015 was 19 times lower than figures reported in 2005.The Mangistau Regional health budget for 2016 was reported to be almost KZT18bn, up 8.5% from 2015.In February 2016, representatives from the Astana administration revealed a plan to introduce electronic health passports in the region, which will store the medical information of patients.In February 2016, Deputy Prime Minister Kazakhstan Dariga Nazarbayeva, expressed her outrage with medical institutions who add a 25% premium on top of medicine prices and vowed to tackle the issue.BMI Economic ViewThe Kazakh economy is past the worst, with a rebound in oil prices offering support for the tenge, mitigating inflationary pressures, and allowing for monetary policy easing in the coming months.BMI Political ViewThe early parliamentary election in Kazakhstan in March 2016 posed no challenge to President Nursultan Nazarbayev's regime and his ruling NurOtan Party's tight grip on the legislature. We interpret the call for early elections by the president to be an attempt to divert the attention of the population from the rising economic problems facing the country and the harsh austerity measures in the 2016 budget plan.

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