Headline Expenditure Projections
- Pharmaceuticals: KWD290mn (USD1.02bn) in 2013 to KWD306mn (USD1.10bn) in 2014; +5.6% in local currency terms and +7.6% in US dollar terms. Forecast upwardly revised raised in USD terms for 2014.
- Healthcare: KWD1.43bn (USD5.03bn) in 2013 to KWD1.56bn (USD5.58bn) in 2014; +8.8% in local currency terms and +10.8% in US dollar terms. Forecast lowered in USD terms for 2014.
Kuwait scored 58.5 in BMI's Pharmaceutical Risk/Reward Rating (RRR) for Q314 - unchanged from the previous quarter. Kuwait stands at second place, behind Saudi Arabia, out of a total of 30 markets.
Key Trends And Developments
In May 2014, the Kuwaiti parliament was considering proposals to introduce compulsory health insurance for visitors to the country. This follows a proposal for stricter healthcare checks and eye check-ups for incoming expatriates in the same month.
In May 2014, MSD, the international operations arm of Merck, signed an agreement with UAE-based Gulf Pharmaceutical Industries to produce, market, distribute and sell certain MSD products in Kuwait, the UAE, Bahrain, Oman, Qatar and Iraq.
In April 2014, GSK announced that it is conducting investigations into company practices in Kuwait among other countries in the Middle East. This follows anti-bribery investigations into the company's practices in China.
In April 2014,...
The Kuwait Pharmaceuticals & Healthcare Report features Business Monitor International (BMI)'s forecasts for drugs and healthcare expenditure and imports and exports, focusing on the growth outlook for the prescription, OTC, patented drugs and generics market segments.
BMI's Kuwait Pharmaceuticals & Healthcare Report provides industry professionals, strategists, company executives, investors, analysts and sales/marketing heads with independent forecasts and competitive intelligence on the Kuwaiti pharmaceutical and healthcare industry.Key Benefits
CoverageBMI Industry View & Industry SWOT
- Benchmark BMI's independent pharmaceutical and healthcare industry forecasts for Kuwait to test other views - a key input for successful budgeting and strategic business planning in the Kuwaiti pharmaceutical and healthcare market.
- Target business opportunities and risks in the Kuwaiti pharmaceutical and healthcare sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Kuwait.
- Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity) and Competitive Landscape Tables.
An at-a-glance perspective on latest regulatory developments, key forecast indicators and major corporate developments, covering the prescription, OTC and generics markets. The SWOT outlines strategic factors which affect BMI's forecast analysis, and taken together with BMI's political, economic and business environment SWOTS, it gives a complete overview of market climate.Market Summary
Snapshot of key market characteristics, including total size of pharmaceuticals and healthcare segments, growth drivers, leading therapeutic areas and the competitive landscape.Regulatory Regime
Details of the industry regulatory framework and key legislation covering the licensing of new products/services, pricing and reimbursements, intellectual property, taxation and advertising, as well as an analysis of the overall regulatory burden.Industry Developments
Focus on government healthcare reforms, epidemiological trends, company M&As, product launches, market entries, FDI activity, R&D, biotechnology, clinical trials and supply chain issues.BMI Industry Forecasts
Forecasts to end-2018 for all key industry indicators (see list below) supported by explicit assumptions, plus analysis of key downside risks to the main forecast, including:
Healthcare: Total healthcare expenditure (US$bn), healthcare expenditure (% of GDP), healthcare expenditure per capita (US$), hospital beds (per `000 population), doctors (per `000 population), birth and mortality rate (per `000 population)
Pharmaceutical market: Drug expenditure (US$bn), drug expenditure (% of GDP), drug expenditure per capita (US$)
Patented drug market: Prescription drug sales (US$bn), prescription sales (% of total sales), sales broken down by 14 therapeutic areas (cardiovascular, anti-infectives etc.)
Generic drug market: Generic product sales (US$bn), generic sales (% of total sales)
OTC drug market: OTC sales (US$bn), OTC sales (% of total sales), sales broken down by product types (analgesics, skin treatments, vitamins and minerals etc.)
Medical Devices: Medical device sales (US$bn), medical device sales (% of total healthcare market)
Macroeconomic Forecasts: Nominal and real GDP, % real GDP growth, % private consumption growth, % industrial output growth, % consumer price index, % GDP price deflator, exports, imports, trade balance, current account balance, foreign direct investment, exchange rate against US$, government expenditure, external debt.Competitive Landscape
The competitive landscape section provides comparative company analyses and rankings by US$ sales and % share of total sales - for the total pharmaceutical sector, as well as the OTC, generics, and distribution sub-sectors.Company Profiles
Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI's industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape to generate Company SWOT analyses. The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.
Despite upcoming by-elections , Kuwait's economy is forecast to post moderate growth in 2014, and the prospects for consumption remain bright. While price harmonisation across the GCC is likely to have a significant impact on margins in the sector, implementation remains slow. Concern over fake generic drugs presents opportunities for the segment in the country , and has spurred partnership agreements with local distributors in the region. Healthcare spending will remain strained as the government continues to legislate populist measures targeting expatriate workers and visitors.