In Q1 2024, the Russian pharmaceutical market had 1.4 billion packages of drugs on sale, up 2.4% from Q1 2023. Throughout 2023, 5.88 billion packages entered the market, and in 2022, around 5.95 billion. Despite the volume decreasing in physical terms, the range of medicines is expanding. In 2023, more than 15,000 SKU (stock keeping units) of pharmaceutical drugs were put into circulation, up 548 from 2022 (Fig. 1).

In Q1 2024, Russia-based manufacturers produced 193.1 billion rubles’ worth of ready-made pharmaceutical drugs (manufacturer’s prices, VAT included), up 13.8% from Q1 2023. In physical terms, 993 million packages were manufactured, up 1.4% from January–March 2023, or 19.9 billion minimum dosage units (MDU), up 4.1%.

In 2023, veterinary drugs on the Russian retail market (e-com included) went up in price 26.6% from 2022. The highest price growth rates were seen in early 2023 (Fig. 1); as a result of the devaluation of the ruble and the subsequent correction of prices for imported goods on the Russian market, inflation surged in June–August 2023. By the end of the year, the prices had stabilized, dropping to a year-low. January 2024, however, saw a slight upward trend (26.4%), which continued in February 2024 (28.6%). In January–February 2024, the price index was 26.9%.