Moldova's pharmaceutical market ranked 17th in CEE

Moldova's pharmaceutical market places a lowly 17th among the Central and Eastern Europe (CEE) countries, according to the Business Monitor International (BMI)'s Pharmaceuticals & Healthcare Business Environment Rankings for the third quarter of this year. Valued at $242 million in 2008, the Moldovan pharmaceutical market is considered to be of minimal attractiveness to major pan-European multinational pharmaceutical companies. Despite the fact that the BMI forecasts a compound annual growth rate (CAGR) of 13.3% for pharmaceuticals over the next five years, low market value is just one of the factors limiting attractiveness for multinationals, the BMI said in a report published on August 9. Other reasons for the low ranking include protectionism for the local industry, relatively weak intellectual property enforcement and limited reimbursement options. Nevertheless, the government has increased the health insurance budget by 30% in 2009 and has pledged to provide free insurance to low-income families. This should help the market to develop as it will increase access to both medicines and healthcare. Additionally, Moldova has claimed to make significant progress in tackling counterfeit pharmaceuticals over the past five years, with automated accounting systems for drug distribution, which had been implemented by 74% of pharmaceutical enterprises by the end of 2008, being an important contributing factor. According to the report, one of the major health issues facing Moldovans is excessive alcohol intake and its associated risk factors. Among all 12 Commonwealth of Independent States (CIS) members, Moldova has the highest burden from alcohol use disorders