Business Monitor International


Kuwait Pharmaceuticals & Healthcare Report

Published 15 January 2015

  • 110 pages
  • Instant access to your report online and PDF format through your account library
  • Includes 3 free updated quarterly reports
 
$1,295.00
Kuwait Pharmaceuticals & Healthcare Report

BMI View: W ith 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 , r ecurrent 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.

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.

Risk/Reward Index

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

  • 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...

Table of Contents

BMI Industry View
7
SWOT
9
Political
11
Economic
12
Business Environment
13
Industry Forecast
15
Pharmaceutical Market Forecast
15
Table: Pharmaceutical Sales, Historical Data And Forecasts (Kuwait 2010-2018)
17
Healthcare Market Forecast
18
Table: Healthcare Expenditure Trends, Historical Data And Forecasts (Kuwait 2010-2018)
20
Table: Government Healthcare Expenditure Trends, Historical Data And Forecasts (Kuwait 2010-2018)
21
Table: Private Healthcare Expenditure Trends, Historical Data And Forecasts (Kuwait 2010-2018)
21
Prescription Drug Market Forecast
22
Table: Prescription Drug Market Indicators, Historical Data And Forecasts (Kuwait 2010-2018)
23
Patented Drug Market Forecast
24
Table: Patented Drug Market Indicators, Historical Data And Forecasts (Kuwait 2010-2018)
25
Generic Drug Market Forecast
26
Table: Generic Drug Market Indicators, Historical Data And Forecasts (Kuwait 2010-2018)
27
OTC Medicine Market Forecast
28
Table: Over-The-Counter (OTC) Medicine Market Indicators, Historical Data And Forecasts (Kuwait 2010-2018)
29
Pharmaceutical Trade Forecast
30
Other Healthcare Data
32
Key Risks To BMI's Forecast Scenario
34
Macroeconomic Forecasts
36
Household Consumption: Positive Outlook Remains
37
Government Consumption Outlook: Pickup In Growth
38
Fixed Investment: Finally Looking More Positive
39
Net Exports Outlook: Consumption To Weigh On Oil Exports
40
Political Risk At The Fore
42
Table: Kuwait - Economic Activity
42
Industry Risk Reward Ratings
43
Middle East & Africa Risk/Reward Index
43
Kuwait Risk/Reward Ratings
50
Rewards
50
Risks
50
Market Overview
52
Industry Trends And Developments
54
Epidemiology
54
Healthcare Sector
59
Table: Hospital Name, Speciality And Number Of Beds
60
Healthcare Sector Developments
61
Healthcare Insurance
70
Research And Development
71
Clinical Trials
72
Regulatory Development
73
Regulatory Regime
73
Intellectual Property Issues
75
Pricing Regime
76
Reimbursement Regime
78
Competitive Landscape
83
Domestic Industry
83
Foreign Industry
85
Pharmaceutical Distribution
86
Company Profile
87
Kuwait-Saudi Pharmaceutical Industries (KSP)
87
Advanced Technology Company
89
Bader Sultan & Bros
92
Safwan Trading And Contracting Company
95
Novartis
98
Sanofi
100
Pfizer
102
GlaxoSmithKline
104
Merck & Co
106
Johnson & Johnson
108
Demographic Forecast
111
Table: Kuwait's Population By Age Group, 1990-2020 ('000)
112
Table: Kuwait's Population By Age Group, 1990-2020 (% of total)
113
Table: Kuwait's Key Population Ratios, 1990-2020
114
Table: Kuwait's Rural And Urban Population, 1990-2020
114
Glossary
115
Methodology
117
Pharmaceutical Expenditure Forecast Model
117
Healthcare Expenditure Forecast Model
117
Notes On Methodology
118
Risk/Reward Ratings Methodology
119
Ratings Overview
120
Table: Pharmaceutical Risk/Reward Ratings Indicators
120
Indicator Weightings
121

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 Kuwait pharmaceutical and healthcare industry.

Key Benefits

  • 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.

Coverage

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 BMI’s forecast analysis, and taken together with BMI’s 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:

  • 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.

BMI’s Pharmaceuticals and Healthcare Risk Reward Index

BMI’s Risk Reward Index provides investors (both national and multinational) looking for opportunities in the region with a clear country-comparative assessment of the market’s 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.

Market Summary

A snapshot of key market characteristics, including total size of the pharmaceuticals and healthcare segments, growth drivers, leading therapeutic areas and the competitive landscape

Industry Developments

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.

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 analysis of the overall regulatory burden.

Competitive Landscape

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.

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.

*Company profiles are not available for every country. Those reports instead contain information on the current activities of prominent companies operating in the market.

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Testimonials

'An essential, multi-faceted research tool. BMI’s thorough understanding of the major market players enables an informed – and informative – review of the sector’s actual performance, together with useful insights into current industry issues, which are topped-off with detailed and invaluable forecasts of industry and macroeconomic trends.’

Senior Research Analyst, ABC International Bank plc