|
|
 |
|
Viewing report
|
|
|
|
Kuwait Pharmaceuticals and Healthcare Report Q3 2008
Business Monitor International, July 2008, Pages: 62
Kuwait Pharmaceuticals and Healthcare Report provides independent forecasts and competitive intelligence on Kuwait's pharmaceuticals and healthcare industry.
Updated Business Environment Ratings for Q308, Kuwait received an improved score of 56, which elevated the market to the enviable second position, from fifth in the previous quarter. The country’s score for limits of pharmaceutical market was boosted by the forecast strong annual growth, which is expected to be in excess of 10%. Moreover, the formation of a Gulf Co-operation Council (GCC) common market of the six member states (the UAE, Kuwait, Bahrain, Qatar, Saudi Arabia and Oman) at the beginning of 2008 will lead to the gradual standardisation of various procedures across the region. Kuwait, however, remains full five points behind the first-ranked UAE, due to its small and relatively young population.
In the coming years, market growth, as in other GCC states, should be underpinned by an expanding population and an epidemiological shift towards chronic, non-communicable diseases. Kuwait’s oil reserves should continue to support economic growth as well as healthcare investment, although the direction of the recently formed new parliament has yet to emerge fully. Additionally, the need for costcontainment in healthcare policy, as elsewhere in the region, will conspire to dampen value growth, especially in the patented drug sector, despite the strong growth of the private sector. On the other hand, the growth of the generics sector may be boosted above the forecast levels if the government moves to approve some biosimilars products, although such a development is unlikely in the first half of the forecast period at least. Nevertheless, those follow-on biotechnology products will require strong regulatory support, especially as their prices are expected to be up to 40% lower than those of the original products.
In the meantime, the medical devices market will continue to be stimulated by sophisticated demand, due to the high percentage of foreign workers in Kuwait as well as high per capita incomes. The country’s modern hospital system provides various opportunities for medical devices manufacturers, although the lack of rural infrastructure and trained medical personnel represent some barriers to investment. Imports will continue to account for the majority of equipment used in the country, but the increase in demand will also represent an opportunity for domestic companies, despite the already strong competition.
Also available
Kuwait Pharmaceuticals and Healthcare Report Q2 2008
Customers who bought this item also bought
Kuwait Pharmaceuticals and Healthcare Report Q2 2008
Kuwait Pharmaceuticals and Healthcare Report Q1 2008
Kuwait Pharmaceuticals and Healthcare Report Q2 2009
Kuwait Pharmaceuticals and Healthcare Report Q3 2009
Executive Report on Strategies in Kuwait
Kuwait Pharmaceuticals and Healthcare Report Q4 2009
Croatia Pharmaceuticals and Healthcare Report Q2 2008
Saudi Arabia Pharmaceuticals and Healthcare Report Q4 2008
Indonesia Pharmaceuticals and Healthcare Report Q4 2008
Saudi Arabia Pharmaceuticals and Healthcare Report Q3 2008
South Africa Pharmaceuticals and Healthcare Report Q3 2008
Switzerland Pharmaceuticals and Healthcare Report Q2 2008
|
|
|
|
