Moldova Pharmaceuticals And Healthcare Report Q2 2010 – New Market Report …

Moldova is ranked 20th of the 20 countries in the Emerging Europe Region, a drop from 18th place in Q110 and is due to a significant drop in its limits of potential returns score. Moldova's placement is not expected to improve significantly in the short-term as the country is particularly vulnerable to the protracted economic downturn. Globally, Moldova is 67th of the 71 markets surveyed , below Pakistan, Bangladesh and Uzbekistan and just above Venezuela and Nigeria. Moldova's pharmaceutical market was valued at US$208mn at the end of 2009 (up from US$199mn in 2008) and is expected to reach US$200mn in 2010. From 2009 to 2014, the pharmaceutical market is expected to post a compound annual growth rate (CAGR) of 4.96% in US dollar terms, rising to a CAGR of 8.45% in US dollar terms to 2019. It is forecast that the drug market expenditure as a percentage of GDP will increase to 4.03% in 2010, up from 3.89% in 2009. This is expected to be the peak figure, before dropping steadily until the end of the forecast period. The EU has offered Moldova the prospect of closer ties in exchange for reforms within its Eastern Partnership program, which was launched in spring 2009. However, EU officials have made it clear that new association agreements with the six countries do not include a guarantee of full EU membership. Moldova started official association agreement discussions with the EU in January 2010. Moldovan Foreign Minister Iurie Leanca said that the country is entering a new phase in its European integration and that a new agreement with the EU would bring Moldova essentially closer' to the 27-member bloc. However, he admitted that his country has a lot of work to if it is to approach EU standards in many fields, primarily regarding the economy and in strengthening the rule of law. Unresolved issues include the failure to elect a new president following two rounds of elections in H109, further postponement of the new vote and the country's poor reputation for upholding of human rights. A major issue with the Moldovan healthcare system is the inequitable access to healthcare resources. Rural areas remain underserved with shortages of medicine and obsolete medical equipment causing quality of care concerns. Prior to its independence, Moldova had one of the most extensive healthcare delivery systems in Europe. However, following the 1991 proclamation of independence from the Soviet Union, the country was thrown into economic turmoil. In the late 1990s, the Moldovan government was forced to drastically reduce the number of healthcare facilities and hospital beds in the country, in response to the financial crisis that it faced at the time. Additionally, the Moldovan pharmaceutical distribution sector underwent a major process of privatisation in 1994 and today many pharmacies are now privatised Privatisation was undertaken to try to ensure an adequate and regulated drug supply in the face of an economic collapse as well as alleviating the state's consequent difficulties in running its own drug supply and distribution system.