NEWS

armenia

Armenia

Armenia's pharmaceutical sector is one of the country's most dynamic sectors. It has become a strategic sector for growing  Armenian economy due to both its growing export potential and investment attraction. Over  10 years from 2005 to 2015   Armenian pharmaceutical sector's production volume has grown from about USD one million   to 15 million USD , with an annual growth rate of about 20% over five years. Industry Players:
  • 19 licensed manufacturers
  • 25 pharmaceutical product importers/ wholesalers and 1,273 retailers
  • 41 retail companies which have more than two drugstores
  • 47 representatives of foreign pharmaceutical companies (21 registered country offices)
  • 1,688 pharmacies (2016) the turnover of which is more than USD 160 million (2015)
Market size:
  • USD 95.5 million imports (2015), of which
  • USD 9.4 million from CIS countries
  • USD 78.8 million from EU
  • USD 39.6 million from other countries
  • USD 7.8 million exports (2015) of which
  • USD 4.5 million to CIS countries
  • USD 3.3 million to other countries
  • USD 14.2 million local pharmaceutical production (2015)
Market Growth:
  • 20% average annual growth rate in local pharmaceutical production (2009-2015)
  • 19.3% average annual growth rate in local production export (2009-2015)
  • 7% average annual growth rate in imports (2009-2015).