Kuwait Pharmaceuticals and Healthcare Report Q2 2009
Business Monitor International, April 2009, Pages: 76
Kuwait Pharmaceuticals and Healthcare Report provides independent forecasts and competitive intelligence on Kuwait's pharmaceuticals and healthcare industry.
The Kuwaiti pharmaceutical market – now slipping to fifth place from third out of the 17 regional markets surveyed in the Middle East and Africa (MEA) Business Environment Ranking matrix - will record unspectacular growth in the next five years. The rate of this growth will also be offset by inflation and the government’s cost-containment policy, focusing on generic reimbursement. Overall, the market is likely to reach around US$508mn at consumer prices by 2013, up from US$377mn in 2008, equal to US$131 per capita, with both figures small in global terms. The market will post a compound annual growth rate (CAGR) of 5.38% in nominal terms, or a slightly higher 6.15% in US dollar terms, While prescription medicines will continue to dominate a lion’s share of the overall market, the recent regionwide regulatory changes – notably the recent attempts to draft legislation on alternative and traditional medicines - will stimulate the development of the over-the-counter (OTC) segment, although it will still remain small in absolute term.
Other segments of the healthcare market are also severely limited by the small size of Kuwait's population. Nevertheless, BMI expects the medical device sector to grow over the coming years, supported by government's strategy to continue undertaking reforms in the healthcare sector as well as partially by the efforts of Kuwaiti distributers seeking new suppliers. We estimated that the market was worth US$78.7mn in 2008, with the figure forecast to top US$98.1mn in 2013, growing at a CAGR of some 3.74% in nominal terms. Given that imports meet virtually all of the demand, foreign companies and their local distributors will be the beneficiaries of this trend. The recent purchase by the Kuwaiti government of nuclear radiation protection drugs, amid concerns of a fallout of a possible conflict between Israel/the US and Iran, or a meltdown of the soon-to-be-operational Iranian Bushehr nuclear power plant, may also lead to purchases of radiation detection and similar medical devices.
In the meantime, the Kuwaiti government is under increasing pressure to deal with the economic turmoil, and, as parliament becomes even angrier with the government, this could lead the latter to make some potentially damaging decisions. There is also a risk of early elections: new polls are not due until 2012, but Kuwait has a history of dissolving governments. While we would not expect this to result in any meaningful change of government - parliament is already dominated by the opposition and the royal family is not about to be overthrown - it could destabilise the country, delay reforms, deter investors and lead to even further fiscal laxity. Nevertheless, although Kuwait faces substantial structural challenges over the long-term, the energy sector will continue to grow in real terms to 2018, keeping the government in surplus.
Executive Summary
Kuwait Pharmaceuticals And Healthcare Industry SWOT
Kuwait Political SWOT
Kuwait Economic SWOT
Kuwait Business Environment SWOT
Pharmaceutical Business Environment Ratings
Table: Regional Business Environment Ratings
Limits Of Potential Returns
Risks To Realisation Of Returns
Kuwait – Market Summary
Regulatory Regime
Foreign Direct Investment Regulations
Intellectual Property Regime
IP Shortcomings
Pricing And Reimbursement Regime
Public Procurement Of Medicines
Regional Harmonisation
Free Trade Agreements
Industry Developments
Epidemiology
Healthcare Sector
Primary Care
Secondary Care
Recent Public Health Developments
Healthcare Insurance
Healthcare Reforms
Regional Developments
International Collaboration
Pharmaceutical Sector
Research And Development
Biotechnology Sector
Medical Devices
Table: Diverse Potential For Product Launches: New Products For 2009
Industry Forecast Scenario
Overall Market Forecasts
Table: Kuwait – Drug Expenditure Indicators, Historical Data and Forecasts
Key Growth Factors – Industry
Table: Kuwait – Health Expenditure Indicators, Historical Data and Forecasts
Key Growth Factors – Macroeconomic
Table: Kuwait – Economic Activity, 2006-2013
Prescription Drug Market Forecast
Table: Kuwait - Prescription Market Indicators, Historical Data And Forecasts (KWDmn unless otherwise stated)
Patented Drug Market Forecast
Table: Kuwait – Patented Market Indicators, Historical Data And Forecasts
Generics Market Forecast
Table: Kuwait – Generics Market Indicators, Historical Data And Forecasts
OTC Market Forecast
Table: Kuwait – OTC Market Indicators, Historical Data And Forecasts (KWDmn unless otherwise stated)
Export/Import Market Forecasts
Table: Kuwait – Pharmaceutical Trade Indicators, Historical Data And Forecasts (US$mn unless otherwise stated)
Table: India’s Export Of Pharmaceutical Products To GCC Countries (US$mn)
Medical Devices Forecast
Table: Kuwait’s Medical Devices Market, 2003-2013 (US$mn unless otherwise stated)
Other Healthcare Data
Table: Kuwait – Other Healthcare Indicators, Historical Data And Forecasts, 2003-2013
Key Risks To BMI Forecasts
Competitive Landscape
Company Profiles
Multinationals
Novartis
Sanofi-Aventis
Pfizer
GlaxoSmithKline
Merck & Co
Johnson & Johnson
Indigenous Players
Advanced Technology Company
Bader Sultan & Bros
Safwan Trading And Contracting Company
Country Snapshot: Kuwait Demographic Data
Section 1: Population
Table: Demographic Indicators, 2005-2030
Table: Rural/Urban Breakdown, 2005-2030
Section 2: Education And Healthcare
Table: Education, 2002-2005
Table: Vital Statistics, 2005-2030
Section 3: Labour Market And Spending Power
Table: Employment Indicators, 1997-2006
Table: Consumer Expenditure, 2000-2012
BMI Forecast Modelling
How We Generate Our Pharmaceutical Industry Forecasts
Pharmaceutical Business Environment Ratings Methodology
Ratings Overview
Table: Pharmaceutical Business Environment Indicators
Weighting
Table: Weighting Of Components
Sources
- Novartis
- Sanofi-Aventis
- Pfizer
- GlaxoSmithKline
- Merck & Co
- Johnson & Johnson
- Advanced Technology Company
- Bader Sultan & Bros
- Safwan Trading And Contracting Company
Product Samples
A sample for this product is available. Please Login/Register to download this sample.
Customers who bought this item also bought
All rights reserved. © Copyright 2013 Research and Markets WWW6
Terms and Conditions Privacy Policy Publishers Employment Opportunities Site Map Link to us Webmaster Affiliate Network
