2013-03-19 13:23:07 - Recently published research from Business Monitor International, "Kuwait Pharmaceuticals & Healthcare Report Q2 2013", is now available at Fast Market Research

BMI View: Kuwait has a small population, much of which is formed of expatriates. This has implications for the healthcare sector. The government funds about 80% of healthcare expenditure, including treatment for Kuwaiti nationals abroad. Expatriates meanwhile are obliged to pay a health insurance premium to be entitled to state-funded treatment. Kuwait is working to upgrade existing healthcare facilities and construct new ones, such as an outpatient department at Al-Razi Hospital and the Sheikh Jaber Medical City.

However, these are likely to be largely staffed by expatriate healthcare professionals. Kuwait's healthcare market is characterised by a high incidence of obesity and related diseases - such as diabetes and heart disease - and the country has a handful of specialist pharmaceutical firms.


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Report Details at
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Headline Expenditure Projections

* Pharmaceuticals: KWD301mn (US$1.07bn) in 2012 to KWD328mn (US$1.17bn) in 2013; +9.0% in local currency terms and +8.5% in US dollar terms. Forecast raised from Q113.
* Healthcare: KWD1.30bn (US$4.63bn) in 2012 to KWD1.37bn (US$4.87bn) in 2013; +5.6% in local currency terms and +5.2% in US dollar terms. Forecast raised from Q113.

Risk/Reward Rating

Kuwait's Pharmaceutical Risk/Reward Rating (RRR) score for Q213 is unchanged from the previous quarter. This is the case for all other countries in BMI's proprietary system, which ranks pharmaceutical markets according to their attractiveness to multinational drugmakers. A minor re-weighting of one of the RRR components is being implemented to improve the tool, and the adjusted scores for all markets will be published in the Q313 updates of the Pharmaceuticals & Healthcare reports. Kuwait has a RRR score of 58 out of 100, making it the second-most attractive pharmaceutical market in the Middle East and African region.

Key Trends And Developments

The Ministry of Health sponsored 2,000 Kuwaitis who travelled abroad for medical treatment in 2012; approximately 10% of those applying for treatment overseas received approval for state-financed treatment in another country.

Concerns over substandard and counterfeit drugs emerged this quarter, with Ministry of Health officials discovering fake antibiotics and other drugs in several pharmacies in Hawalli in January 2013. Work continues on the construction of the Sheikh Jaber Medical City in South Surra. It will be the largest hospital facility in Kuwait once completed, with four buildings and employing 1,000 healthcare professionals. Completion is scheduled for Q115.

BMI Economic View: Strong domestic consumption will help maintain the growth of Kuwait's economy in 2013, with BMI forecasting real GDP of 3.0% for the year. This marks a downward revision to earlier forecasts, as oil production and exports plateau.

BMI Political View: Kuwait may be one of the most stable Middle Eastern states in political terms, but the political scene is complicated by labour and population imbalances, as well as a parliament that has consistently blocked the government's reform efforts.

Partial Table of Contents:

BMI Industry View
SWOT
- Political
- Economic
- Business Environment
Industry Forecast
- Pharmaceutical Market Forecast
- Table: Pharmaceutical Sales Indicators 2009-2017
- Healthcare Market Forecast
- Table: Healthcare Expenditure Indicators 2009-2017
- Table: Healthcare Governmental Indicators 2009-2017
- Table: Healthcare Private Indicators 2009-2017
- Economic Outlook
- Table: Kuwait - Economic Activity
- Prescription Drug Market Forecast
- Table: Prescription Drug Sales Indicators 2009-2017
- Patented Drug Market Forecast
- Table: Patented Drug Market Indicators, 2009-2017
- Generic Drug Market Forecast
- Table: Generic Drug Sales Indicators, 2009-2017
- OTC Medicine Market Forecast
- Table: OTC Medicine Sales Indicators, 2009-2017
- Pharmaceutical Trade Forecast
- Table: Kuwait Pharmaceutical Trade Data
- Other Healthcare Data
- Key Risks To BMI's Forecast Scenario
Industry Risk Reward Ratings
- Risk/Reward Ratings
- Table: Middle East And Africa Pharmaceutical Risk/Reward Ratings, Q213
- Rewards
- Risks
Market Overview
Industry Trends And Developments
- Industry Trends And Developments
- Epidemiology
- Healthcare Sector
- Table: Hospital Name Speciality Number Of Beds
- Healthcare Sector Developments
- Healthcare Insurance
- Research And Development
- Clinical Trials
Regulatory Development
- Regulatory Regime
- Intellectual Property Issues
- Pricing Regime
- Reimbursement Regime
Competitive Landscape
- Domestic Industry
- Foreign Industry
- Pharmaceutical Distribution
Company Profile
- Kuwait-Saudi Pharmaceutical Industries (KSP)
- Advanced Technology Company
- Bader Sultan & Bros
- Safwan Trading and Contracting Company
- Novartis
- Sanofi
- Pfizer
- GlaxoSmithKline
- Merck & Co
- Johnson & Johnson
Demographic Forecast
- Sudan
- Table: Sudan's Population By Age Group, 1990-2020 ('000)
- Table: Sudan's Population By Age Group, 1990-2020 (% of total)
- Table: Sudan's Key Population Ratios, 1990-2020
- Table: Sudan's Rural And Urban Population, 1990-2020
Glossary
Methodology
- Methodology
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Full Table of Contents is available at:
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