Kuwait Pharmaceuticals & Healthcare Report Q4 2014
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 unchanged from Q3 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 unchanged from Q3 2014.
Kuwait scores 58.5 in BMI's Pharmaceutical Risk/Reward Rating (RRR) for Q414 - unchanged from Q2 and Q3 2014. Kuwait remains in second place, behind Saudi Arabia, out of a total of 31 markets in the region.
Key Trends a nd Developments
In September 2014 Kuwait's government adopted a plan under which it slashed daily allowances offered to patients and their companions for treatments abroad. This is the most recent part of ongoing government initiatives to improve the quality of local healthcare infrastructure and reduce the need to send patients overseas for treatment. More of these measures, with corresponding additional local investment, are likely in the near term.
In September 2014 Kuwait's health ministry entered a four-year contract with Sayyed Hameed Behbehani and Sons Co. to design,...
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.
- 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.
BMI Industry View & Industry SWOT
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.
Snapshot of key market characteristics, including total size of pharmaceuticals and healthcare segments, growth drivers, leading therapeutic areas and the competitive landscape.
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.
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$, government expenditure, external debt.
The competitive landscape section provides comparative company analyses and rankings by US$ sales and % share of total sales - for the total pharmaceutical sector, as well as the OTC, generics, and distribution sub-sectors.
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.
Notwithstanding a recent escalation in political uncertainty, Kuwait's healthcare sector is forecast to preserve its trajectory of modest growth through out the remainder of 2014. Rising sales are underpinned by an expanding population, whose levels of chronic conditions increasingly call for the supply of long-term treatments and cutting-edge medical equipment. In addition , apprehension towards fake generics and an accompanying government crackdown ha ve further solidified popular demand for branded drugs. However, a confusing bureaucracy and sluggish implementation of key f oreign d irect i nvestment and i ntellectual p roperty reform will continue to dampen overall investment and restrain Kuwait from matching the pace of other emerging economies.
BMI Industry View
Business Environment SWOT
Pharmaceutical Market Forecast
Table: Pharmaceutical Sales, Historical Data And Forecasts (Kuwait 2010-2018)
Healthcare Market Forecast
Table: Healthcare Expenditure Trends, Historical Data And Forecasts (Kuwait 2010-2018)
Table: Government Healthcare Expenditure Trends, Historical Data And Forecasts (Kuwait 2010-2018)
Table: Private Healthcare Expenditure Trends, Historical Data And Forecasts (Kuwait 2010-2018)
Prescription Drug Market Forecast
Table: Prescription Drug Market Indicators, Historical Data And Forecasts (Kuwait 2010-2018)
Patented Drug Market Forecast
Table: Patented Drug Market Indicators, Historical Data And Forecasts (Kuwait 2010-2018)
Generic Drug Market Forecast
Table: Generic Drug Market Indicators, Historical Data And Forecasts (Kuwait 2010-2018)
OTC Medicine Market Forecast
Table: Over-The-Counter (OTC) Medicine Market Indicators, Historical Data And Forecasts (Kuwait 2010-2018)
Pharmaceutical Trade Forecast
Other Healthcare Data
Key Risks To BMI's Forecast Scenario
Government Consumption Outlook: Pickup In Growth
Fixed Investment: Finally Looking More Positive
Net Exports Outlook: Limited Growth Opportunities Ahead
Table: Kuwait - Economic Activity
Industry Risk Reward Ratings
Middle East & Africa Risk/Reward Ratings
Kuwait Risk/Reward Ratings
Industry Trends And Developments
Table: Hospital Name, Speciality And Number Of Beds
Healthcare Sector Developments
Research And Development
Intellectual Property Issues
Kuwait-Saudi Pharmaceutical Industries (KSP)
Advanced Technology Company
Bader Sultan & Bros
Safwan Trading And Contracting Company
Merck & Co
Johnson & Johnson
Table: Kuwait's Population By Age Group, 1990-2020 ('000)
Table: Kuwait's Population By Age Group, 1990-2020 (% of total)
Table: Kuwait's Key Population Ratios, 1990-2020
Table: Kuwait's Rural And Urban Population, 1990-2020
Pharmaceutical Expenditure Forecast Model
Healthcare Expenditure Forecast Model
Notes On Methodology
Risk/Reward Ratings Methodology
Table: Pharmaceutical Risk/Reward Ratings Indicators
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