THE DEVELOPMENT STRATEGY OF THE PHARMACEUTICAL INDUSTRY IN BELARUS: SUBSTANTIATION OF KEY DIRECTIONS

UDC 615.1(476)

 

Dudan Marina Aleksandrovna – Assistant Lecturer, the Department of Enterprise Economy and Management. Belarusian State Technological University (13a, Sverdlova str., 220006, Minsk, Republic of Belarus). E-mail: dma18@yandex.ru

DOI: https://doi.org/ 10.52065/2520-6877-2024-280-10.

 

Key words: strategy, management, innovations, pharmaceutical industry, SWOT-analysis.

For citation: Dudan M. A. The development strategy of the pharmaceutical industry in Belarus: substantiation of key directions. Proceedings of BSTU, issue 5, Economics and Management, 2024, no. 1 (280), pp. 83–89 (In Russian).

DOI: 10.52065/2520-6877-2024-280-10.

Abstract

The pharmaceutical industry of Belarus is not only actively developing, but also has great potential. As a branch of the high-tech sector, it is one of the most promising and knowledge-intensive areas. The article presents the author’s approach to substantiating the strategy for the development of the pharmaceutical industry in Belarus, which involves the formation of priorities and directions for industry development based on an analysis highlighting key factors and elements that determine the potential and effectiveness of the pharmaceutical industry in the long term. In this regard, the research included the study of the main global trends in human and economic development, as well as the development of the pharmaceutical sector and the determination of the state and features of the functioning of the Belarussian pharmaceutical industry (industrial production, pharmaceutical market and etc.). The article presents the matrix of SWOT-analysis of the state of the industry with an appropriate definition of strong and weak sides, opportunities and threats of the domestic pharmaceutical industry, which were taken into account when determining the strategic directions of innovative development of the pharmaceutical industry in Belarus. Based on the results of the analysis, three main strategic directions were identified: closer integration of strategic goals with healthcare goals; formation of clusters based on cooperation with related industries; improvement of normative regulation in order to optimize costs and attract investments.

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15.02.2024