The launch of monitoring for the medical market was prompted by several factors, with rising prices identified as a primary driver, according to Giorgi Kedelidze, Head of the Strategic Markets Monitoring Department at the Georgian Competition and Consumer Agency (GCCA).
He further explained that price increases may stem directly from market conditions, though artificial inflation could also play a role. The initiation of this monitoring aims to closely observe and assess these factors.
“The GCCA consistently monitors strategically important markets. We have also conducted oversight of the pharmaceutical market, closely linked to medical services, where our recommendations spurred systemic reforms, revealed coordinated practices in oncology medicines, and led to fines for abuse of dominant positions,” stated Giorgi Kedelidze.
He further noted that, due to past instances of concerted practices, the fuel market is considered high-risk. Should price increases arise from non-market factors, the Agency will launch a new market study.
“The Agency has repeatedly identified concerted practices in this market, classifying it as high-risk given its size and influence on other sectors. We conduct quarterly and annual monitoring, with results made public, primarily tracking retail price changes in relation to factors such as the lari exchange rate and the cost of purchased fuel”, said the Head of the GCCA’s Strategic Markets Monitoring Department.
Kedelidze also mentioned that the Agency is monitoring the pesticide market, with a preliminary report expected by year-end.
