26.03.2025
Proxima Research is the first company on the Uzbek market to provide analytics based on sales data directly from pharmacies (Sell Out), which allows you to get the most accurate and complete report. At the moment monitoring of sales data on drugs and food supplements is available. This publication provides an overview of key indicators and trends in the retail pharmaceutical market of Uzbekistan by the end of 2024. Data from the analytical market research system “PharmXplorer” of “Proxima Research International” company were used in the material production.
The pharmaceutical market of Uzbekistan demonstrates active growth in monetary terms. At the end of 2024, the volume of retail sales of drugs and food supplements amounted to UZS 24.8 trillion, which is 19% more compared to the previous year. In dollar terms, the growth is more restrained – at the level of 9.2%. In currency terms, the market volume amounted to 2.0 billion UZS. Tрhe maket volume amounted toO USD 2.0 BLN. In physical terms, there was a slight decline – at the level of 4.9% – and the volume of consumption amounted to 614 mln packs (Fig. 1).
Fig. 1. Quarterly dynamics of pharmacy sales of drugs and food supplements in Uzbekistan from 2023 to 2024
Rx-drugs prevail in the structure of retail sales of drugs by prescription status in both monetary and in physical terms, accumulating 76 and 70% respectively. They also demonstrate more active growth in monetary terms compared to OTC drugs. In physical terms, the sales volume of prescription drugs in 2024 remained almost unchanged, while the OTC segment shows a decline (Fig. 2).
It is also worth noting that Uzbekistan’s drug market is largely import-dependent, as imported drugs dominate in the structure of retail sales in both monetary and natural terms, accounting for 87% and 63% respectively by the end of 2024. Compared to the previous year, their share remains unchanged, as domestic and imported drugs show approximately the same growth in.
Fig. 2. Structure of pharmacy sales of drugs by prescription and over-the-counter drugs, as well as domestic and foreign production from 2023 to 2024
As for food supplements, in monetary terms the share of imported products is also high and accounts for more than half of all category sales, but in physical terms, on the contrary, domestic products dominate. Compared to the previous year, the share of imported food supplements increased from 58% to 63% in monetary terms, and in physical terms – from 42% to 43% (Fig. 3).
Fig. 3. Structure of pharmacy sales of dietary supplements by domestic and foreign production from 2023 to 2024.
Analysis of the dynamics of indices of drug sales volume change in monetary terms shows that in 2024 the inflation index had a key impact on the market development. That is, the growth in monetary terms was provided mainly due to price changes. In the segment of food supplements, the main indicators influencing the market development in the period under study are the innovation index (indicating that the number of new products that appeared on the market exceeds the number of supplements that left the market), the inflation index, and the substitution index (indicating the growth of consumption in packages) (Fig. 4).
Fig. 4. Indicators of change in pharmacy drugs and food supplements sales in monetary terms for 2024 in monthly dynamics compared to the same period of the previous year
Thus, the main driver of growth in pharmacy sales of drugs by 18.5% by the end of 2024 in monetary terms is the inflation index, a small positive contribution was also made by the innovation index, and the growth restraining factors are the indices of substitution and elasticity of demand. And in the category of food supplements the growth of 32.4% was provided by the innovation index, inflation index and substitution index. Almost all indicators act as factors favorable to growth (Fig. 5).
Fig. 5. Indicators of change in pharmacy sales of drugs and food supplements in monetary terms by the end of 2024 compared to the previous year
Geographically, the structure of pharmacy sales varies significantly depending on the population size and economic development of the respective region. 31.3% of pharmacy sales of drugs and food supplements in monetary terms fall on the capital and largest city of Uzbekistan, Tashkent (Figure 6).
Fig. 6. Regional distribution of pharmacy sales of drugs and food supplements in Uzbekistan by the end of 2024.
At the end of 2024, pharmacy drug and food supplement sales increased by 19% in national currency, reaching UZS 24.8 trillion (USD 2.0 billion). However, a 4.9% decrease was recorded in physical terms, indicating a decrease in consumption volumes. At the same time, the decrease in consumption in packages is characteristic only for the drug category, while food supplements show growth. The growth in drug sales in monetary terms is mainly due to inflation, while the factors favoring the growth of food supplements consumption are more diverse. Thus, in this segment, the emergence of new products, inflationary processes, as well as the growth of consumption in packs have a positive impact.
Prescription drugs account for the predominant share of sales in both monetary and natural terms, which indicates a high consumption of drugs requiring a doctor’s prescription. Imported items occupy the dominant share of the market, which emphasizes the significant dependence on foreign supplies.
One third of pharmacy drug and food supplement sales in monetary terms are in the capital, which may be due to the higher concentration of residents, solvency and developed infrastructure.
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