Estonia Pharmaceuticals

May 2006 | Industry Forecast

The Estonian pharmaceutical market has grown markedly in recent years. However, the market remains relatively small, at around US$177mn at consumer prices in 2005. Per-capita expenditure, at US$124, is below that of the wealthier and more mature Eastern European markets of the Czech Republic, Hungary and Poland, but higher than in less-developed markets such as Romania, Russia and Ukraine. Market growth has been strong in recent years, at around 15-20% in local currency terms. However, this rate slowed in 2003, before rising again in 2004 to 22.7%, according to the State Agency of Medicines, but short-term growth is expected to

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