Features of the economic condition of the pharmaceutical market

Abstract

Today, the pharmaceutical industry has become an integral part of the health care system. The pharmaceutical industry has been identified as one of the largest and fastest growing industries. This is the main source of job creation and foreign exchange earnings for the country. It was determined that the Ukrainian pharmaceutical market under the influence of state policy contributes to the provision of affordable medicines to consumers, and also ensures fierce competition in the field of production, distribution and consumption between domestic and foreign manufacturers of pharmaceutical products. The conjuncture of the modern pharmaceutical market of Ukraine contributes to the growth of production volumes, the saturation of products among domestic and foreign enterprises, the dynamism of their registration activity, a free increase in the price of pharmaceutical products and medical products, and a decrease in the solvency of the population, which causes the predominant use of generics. The total volume of the pharmaceutical market in monetary and physical terms and the structure of sales of pharmaceutical products in terms of price niches were analysed. It has been determined that the growth rate of the pharmaceutical market, as a rule, exceeds the growth rate of GDP, as a result of which the market is the most attractive for entities from other industries to enter it. It was determined that the low purchasing power of the population and the insufficient level of state procurement of pharmaceutical goods affects the change in the structure of export and import operations in the industry. The main types of competition in the pharmaceutical market are singled out, taking into account the state of the economic state at the Ukrainian market of pharmaceutical products and statistics of its development. The problems faced by the pharmaceutical market and which ultimately affected the pharmaceutical market are outlined. Keywords: pharmaceutical market, pharmaceutical enterprises, pharmaceutical products, economic state.