Business Monitor International


Kuwait Pharmaceuticals & Healthcare Report

Published 14 July 2014

  • 120 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: 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.

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.

Risk/Reward Rating

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,...

Table of Contents

BMI Industry View
7
SWOT
9
Political
11
Economic
12
Business Environment SWOT
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)
21
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)
22
Prescription Drug Market Forecast
23
Table: Prescription Drug Market Indicators, Historical Data And Forecasts (Kuwait 2010-2018)
24
Patented Drug Market Forecast
25
Table: Patented Drug Market Indicators, Historical Data And Forecasts (Kuwait 2010-2018)
27
Generic Drug Market Forecast
28
Table: Generic Drug Market Indicators, Historical Data And Forecasts (Kuwait 2010-2018)
29
OTC Medicine Market Forecast
30
Table: Over-The-Counter (OTC) Medicine Market Indicators, Historical Data And Forecasts (Kuwait 2010-2018)
32
Pharmaceutical Trade Forecast
33
Other Healthcare Data
35
Key Risks To BMI's Forecast Scenario
37
Macroeconomic Forecasts
39
Economic Analysis
39
Government Consumption Outlook: Pickup In Growth
41
Fixed Investment: Finally Looking More Positive
42
Net Exports Outlook: Limited Growth Opportunities Ahead
44
Table: Kuwait - Economic Activity
46
Industry Risk Reward Ratings
47
Middle East & Africa Risk/Reward Ratings
47
Kuwait Risk/Reward Ratings
55
Rewards
55
Risks
55
Market Overview
57
Industry Trends And Developments
59
Epidemiology
59
Healthcare Sector
64
Table: Hospital Name, Speciality And Number Of Beds
65
Healthcare Sector Developments
66
Healthcare Insurance
74
Research And Development
75
Clinical Trials
76
Regulatory Development
77
Regulatory Regime
77
Intellectual Property Issues
78
Pricing Regime
79
Reimbursement Regime
81
Competitive Landscape
86
Domestic Industry
86
Foreign Industry
88
Pharmaceutical Distribution
89
Company Profile
90
Kuwait-Saudi Pharmaceutical Industries (KSP)
90
Advanced Technology Company
92
Bader Sultan & Bros
95
Safwan Trading And Contracting Company
98
Novartis
101
Sanofi
103
Pfizer
105
GlaxoSmithKline
107
Merck & Co
109
Johnson & Johnson
111
Demographic Forecast
113
Table: Kuwait's Population By Age Group, 1990-2020 ('000)
114
Table: Kuwait's Population By Age Group, 1990-2020 (% of total)
115
Table: Kuwait's Key Population Ratios, 1990-2020
116
Table: Kuwait's Rural And Urban Population, 1990-2020
116
Glossary
117
Methodology
119
Pharmaceutical Expenditure Forecast Model
119
Healthcare Expenditure Forecast Model
119
Notes On Methodology
120
Risk/Reward Ratings Methodology
121
Ratings Overview
122
Table: Pharmaceutical Risk/Reward Ratings Indicators
122
Indicator Weightings
123

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

  • 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.

Coverage

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.

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.

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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