Kuwait Pharmaceuticals & Healthcare Report Q1 2015
Headline Expenditure Projections
- Pharmaceuticals: From KWD290mn (USD1.02bn) in 2013 to KWD308mn (USD1.11bn) in 2014; +6.3% in local currency terms and +8.3% in US dollar terms. Forecast up from Q414.
- Healthcare: From KWD1.42bn (USD4.99bn) in 2013 to KWD1.53bn (USD5.50bn) in 2014; +8.3% in local currency terms and +10.3% in US dollar terms. Forecast unchanged from Q414.
Kuwait scores 58.5 in BMI's Pharmaceutical Risk/Reward Index (RRI) for Q115. Kuwait has fallen to third place, ceding second position to the UAE with a score of 58.6, out of the 31 markets in the region.
Key Trends a nd Developments
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.
- According to a document obtained by Reuters in December 2014, the Head of the Parliamentary Committee for Budgets Adnan Abdulsamad, has announced a potential cut to state spending in FY15/16 owing to a marked decline in oil prices. Finance ministry officials estimate budget spending of KWD19bn (USD65.2bn) for the next fiscal year. Planned spending for the current fiscal year stands at KWD23.2bn (USD79.49bn), according to the document. The estimates assume a further decline in crude prices, as well as a fall in Kuwaiti oil production, for...
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 Kuwait pharmaceutical and healthcare industry.
- Benchmark BMI's pharmaceutical and healthcare market 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 using our company profiles (including SWOTs, KPIs and latest activity) and competitive landscape tables.
BMI Industry View
An at-a-glance perspective on the latest regulatory developments, key forecast indicators and major corporate developments, covering the prescription, OTC and generics markets. The pharmaceuticals and healthcare SWOT outlines strategic factors that affect the basic assumptions underpinning BMIs forecast analysis, and taken together with BMIs political, economic and business environment SWOTs, it gives a complete overview of market climate.
BMI Industry Forecast Scenario
Industry forecasts to end-2019 for all key indicators, supported by explicit assumptions, plus analysis of key downside risks to the main forecasts:
BMIs Pharmaceuticals and Healthcare Risk Reward Index
- Healthcare: Total healthcare expenditure (USDbn), healthcare expenditure (% of GDP), healthcare expenditure per capita (USD), hospital beds, doctors, and birth & mortality rates (all per 000 population).
- Pharmaceutical Market: Drug expenditure in USDbn, % of GDP and per capita (USD).
- Patented Drug Market: Prescription drug sales (USDbn & % of total sales).
- Generic Drug Market: Generic product sales (USDbn), generic sales (% of total sales).
- OTC Drug Market: OTC sales (USDbn & % of total sales).
- 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 USD, government expenditure and external debt.
BMIs Risk Reward Index provides investors (both national and multinational) looking for opportunities in the region with a clear country-comparative assessment of the markets risks and potential rewards. Each of the country markets are scored using a sophisticated model that includes more than 40 industry, economic and demographic data points to provide indices of highest to lowest appeal to investors, with each position explained.
A snapshot of key market characteristics, including total size of the pharmaceuticals and healthcare segments, growth drivers, leading therapeutic areas and the competitive landscape
A focus on government healthcare reforms, epidemiological trends, mergers and acquisitions, product launches, market entries, FDI activity, R&D, biotechnology, clinical trials and supply chain issues.
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 analysis of the overall regulatory burden.
The competitive landscape section provides comparative company analyses and index by USD 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 BMIs 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.
*Company profiles are not available for every country. Those reports instead contain information on the current activities of prominent companies operating in the market.
With some of the largest financial buffers of any GCC member nation, Kuwait is well equipped to insulate health expenditure from the near-term effects of falling oil prices. Accordingly, drugmakers can expect high and rising underlying demand for branded prescriptions to be well sustained, due to the sector's perception as a critical source of economic diversification away from hydrocarbons . However, recurrent government resignations and a recent stalemate between the opposition and cabinet, resulting in major delays to budget approval, illustrate the political volatility created by the deeply dysfunctional policymaking process. As such, we anticipate mounting uncertainty as to the future direction of public spending, which will increasingly frustrate long-term investment.
BMI Industry View
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
Household Consumption: Positive Outlook Remains
Government Consumption Outlook: Pickup In Growth
Fixed Investment: Finally Looking More Positive
Net Exports Outlook: Consumption To Weigh On Oil Exports
Political Risk At The Fore
Table: Kuwait - Economic Activity
Industry Risk Reward Ratings
Middle East & Africa Risk/Reward Index
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
This report does not have a list of Companies Mentioned available
This report does not have a press release associated with it