Research and Markets (http://www.researchandmarkets.com/research/13fcc7/kazakhstan_pharmac) has announced the addition of the "Kazakhstan Pharmaceuticals and Healthcare Report Q4 2009" report to their offering.
The Kazakhstan Pharmaceuticals and Healthcare Report provides industry professionals and strategists, corporate analysts, pharmaceutical associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Kazakhstan's pharmaceuticals and healthcare industry
The analyst maintains its conservative five-year forecast for the Kazakhstani pharmaceutical market in view of the country's continued macroeconomic challenges as well as growing protectionism in the pharmaceutical sector. Still, barring further devaluation of the tenge vis-à-vis the US dollar in 2009, or a significant further deterioration in the financial sector, the market will continue to grow in dollar terms at a compound annual growth rate (CAGR) of 4.06% and a local currency rate of 13.83% to 2013. In our view, the market retains huge growth potential and the government has considerable scope for investing its hydrocarbon windfall in a modern healthcare system, providing it manages substantial political and economic risks over the forecast period and beyond.
Contrary to government forecasts, the report sees Kazakhstan's economy shrinking by 1.9% in 2009 before returning to growth in 2010. According to official statistics, real GDP fell by 2.2% in Q109. The state has pumped some US$25bn into the financial system to shore up banks as the country deals with the hangover from a credit-fuelled boom turned bust, particularly evident in the property sector. At the same time, the situation seems to stabilising, with the Central Bank stating in late July that a further devaluation of the tenge in 2009 was off the cards, offering a degree of pricing stability for the marketplace.