Russia’s healthcare and pharmaceutical sector was badly affected by the 2015-2016 recession, which resulted in a sharp drop in government spending, while the weak rouble and high inflation cut into households’ disposable incomes. Though healthcare spending continued to increase in local currency terms, it slumped to less than two-thirds of its 2014 level in terms of US dollars. Pharmaceutical (pharma) sales declined for the third straight year in 2016. However, the government’s protectionist policy helped boost domestic production of pharmaceuticals, with output growing at double-digit rates in both 2015 and 2016.

01 EXECUTIVE SUMMARY

02 SECTOR IN FOCUS

03 COMPETITIVE LANDSCAPE

04 COMPANIES IN FOCUS

05 REGULATORY ENVIRONMENT

06 PHARMACEUTICALS

07 MEDICAL EQUIPMENT