“This is a very good result compared to the sales decrease in 2020 which amounted -0.3 per cent. Although, unfortunately, we have to announce that this result is inflation-linked,” the analysts explained.
At the same time, in 2021, sales of animal drugs fell by 7.2 per cent in volume compared to 2020. It is clarified that the calculations were done in the minimum dosage units (MDU). Totally, 166.7 million of MDU were sold on the Russian market last year.
“Consumer activity can be significantly limited in response to price changes, and most importantly, changes in consumer behavior may be influenced by economic factors,” noted the RNC Pharma experts.
The analysts added that in 2021, the sales volume of products sold per piece rose to 27 per cent in MDU, whereas at the end of 2020, it did not reach 25 per cent.
“Despite the consumers tend to buy cheaper products, there is no import displacement in the retail sector of veterinary drugs. Given that in the recent years, import substitution has remained to be a key tendency on the Russian pharmaceutical market. The domestic producers’ share in the retail market has been falling for the second year in a row both in volume and in value,” the analysts noted.
By the end of 2021, totally, the domestic producers’ share amounted to 40.8 per cent in rubles and 63.6 per cent in MDU. In comparison with 2019, the figures amounted to 43.6 per cent and 70 per cent respectively.
