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Kuwait Pharmaceuticals & Healthcare Report Q1 2014 - New Report Available

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2013-12-24 20:50:46 - New Healthcare market report from Business Monitor International: "Kuwait Pharmaceuticals & Healthcare Report Q1 2014"

The government continues to make progress with its plans to privatise parts of Kuwait's healthcare service, in an attempt to reduce the burden on public healthcare facilities. It has already started a trial service, whereby expatriates and nationals are allocated separate appointment times at hospitals, and by the end of 2013, the government was to have reviewed this trial and whether or not it should be rolled out across the country. Given the size of Kuwait's expatriate population, the opportunities for private healthcare insurers are considerable. In terms of pharmaceuticals, Kuwaiti residents expect to have access to innovative drugs, and the strong regulatory environment means that it is an attractive market for pharma firms, but the small size of the

country holds back demand. Kuwait simply does not have the power to purchase large quantities of innovative drugs at competitive prices, and as such, it is keen for a unified drug purchasing and/or pricing system across the Gulf region. The details of this are likely to be agreed in November 2013, with health ministers from across the Gulf meeting in early 2014 to endorse the price list. If approved, this will give Kuwait access to innovative drugs at more reasonable prices.

Full Report Details at
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Headline Expenditure Projections

* Pharmaceuticals: KWD301mn (US$1.07bn) in 2012 to KWD334mn (US$1.22bn) in 2013; +14.2% in local currency terms and +13.7% in US dollar terms. Forecast raised slightly from Q413.
* Healthcare: KWD1.31bn (US$4.68bn) in 2012 to KWD1.52bn (US$5.42bn) in 2013; +16.3% in local currency terms and +15.8% in US dollar terms. Forecast raised from Q413.

Risk/Reward Rating

Kuwait scored 58.5 in BMI's Pharmaceutical Risk/Reward Rating (RRR) for Q114; a slight improvement in its score from Q413. Kuwait has also risen up the rankings this quarter, rising to second place, behind Saudi Arabia, out of a total of 30 markets.

Key Trends And Developments

The second round of bidding for a share in the Kuwait Health Assurance Company, held in July 2013, attracted several bidders. These include Kuwait Projects Company, Agility, Al Essa Medical Equipment and Yiaco Medical Company.

In October 2013 the Kuwaiti Health Ministry revealed it had created a list of 30 countries whose nationals will have to undergo medical tests every time they return to Kuwait after visiting their home countries. The ministry aims to curb the spread of diseases with such tests, but has instead created controversy, with the alleged inclusion of a test for homosexuality.

Figures published in the Diabetes 2013 Atlas Updates show 23.1% have diabetes - making Kuwait the second-ranked country for diabetes prevalence in the Middle Eastern region.

BMI Economic View: We expect to see moderate economic growth in Kuwait, with real GDP of 3.0% in 2013 and 2.9% in 2014. Oil production will rise, if only slightly, and domestic demand should continue to be strong,

BMI Political View: Politicians have suggested that the government is considering reviewing its generous subsidy scheme, worth around US$16bn per year. And while this is necessary, it is unlikely to be popular with Kuwaitis used to low-priced fuel, education, food and housing.

Partial Table of Contents:

BMI Industry View
- Political SWOT
- EconomiC SWOT
- Business Environment SWOT
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
- 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
Macroeconomic Forecasts
- Table: Kuwait - Economic Activity
Industry Risk Reward Ratings
- Middle East Africa Risk/Reward Ratings
- Kuwait Risk/Reward Ratings
- Rewards
- Risks
Market Overview
Industry Trends And Developments
- Epidemiology
- Healthcare Sector
- Table: Hospital Name, Speciality And 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
- Demographic Outlook
- Table: Kuwait's Population By Age Group, 1990-2020 ('000)
- Table: Kuwait's Population By Age Group, 1990-2020 (% of total)
- Table: Kuwait's Key Population Ratios, 1990-2020
- Table: Kuwait's Rural And Urban Population, 1990-2020
- Pharmaceutical Expenditure Forecast Model

Full Table of Contents is available at:

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Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at

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