Ukraine’s pharmaceutical sector is one of the fastest growing and most crisis-resistant consumer industries in the economy. A major growth driver is import substitution, building a strong case for international pharma companies to increase investment through the purchase of existing players or building their own manufacturing in Ukraine.
Ukraine’s drug market has not yet recovered from the 2014–2015 crisis, but it is constantly growing with 15% CAGR for the last 4 years. The trend is likely to continue in coming years.
The immense consumption gap versus peer countries is another growth driver: per capita pharmaceutical expenditures in Ukraine are only 15-25% of the levels of neighboring countries, indicating the significant room for further growth.