Business Opportunities for Finnish companies in the self diagnostic market in Russia
Market entry process for self-diagnostic tests is rather easy and not expensive (registration might take around 6 months and cost around 2.000 €, depending on the precise product). The main sales channel is drug stores/pharmacies.
There is a limited number of appropriate distributors on the market, so it is rather convenient to arrange meetings and discuss possibilities on the market. Russian market of self-diagnostics is dominated by (in value terms): glucose test systems (around 40% of the market), blood pressure measurement (34%), pregnancy tests (10%) as well as many other self-diagnostic tests: drug tests, oncology tests, gene tests, etc. which count for small share of self-diagnostic market but has a high growth rate (it is partly due to low-base effect).
Russian self-diagnostic market is driven by:
- Low level of trust to local healthcare system and high level of trust for foreign healthcare (foreign self-diagnostic tests are perceived as very reliable and trustful)
- General trend for preventive taking care of health, especially among middle class/ upper-middle class
- High level of trust, due to absence of ”human mistake” in self-diagnostic tests
- Self-diagnostic tests are perceived as the first step to be taken by patients who are concerned about their health (it is widely available, acceptable price level for the majority of tests, etc.)
Russian self-diagnostic market suits well for small and medium sized Finnish companies:
- market is very diverse, there are many different test systems, even for very rare tests
- registration process for diagnostic test systems is much easier compare to drug/medicine registration process
- new comers (companies, products, solutions) are warmly welcome to the market
Finnish companies have a good reputation and are seen as reliable, innovative and cost-effective producers, especially in North-West Russia.
All interested companies please contact:
Alexei Kozlov, (rus-eng)
Senior Advisor, Finnish-Russian Chamber of Commerce
+7 (812) 322 21 21