New Market Research Report: Kuwait Pharmaceuticals & Healthcare Report Q2 2011

April 26, 2011 - PRLog -- Kuwait's pharmaceutical expenditure stood at around KWD259mn (US$905mn) in 2010. Over the forecast period to 2015, BMI expects the market to grow at a CAGR of 8.8% to reach KWD394mn (US$1.41bn) in 2015. Our long-range forecast model predicts that the market should reach KWD550mn (US$1.97bn) in 2020, representing a 2010-2020 CAGR of 7.8%. This growth trajectory is well above our inflation forecast for Kuwait. Our belief is that cost containment measures will fail to cancel out the affect of increased drug consumption - the root cause of which is population growth and an epidemiological shift towards non-communicable, chronic diseases.

BMI believes that civil unrest that has affected many countries in the Middle East - most notably Tunisia, Egypt and Bahrain - could shake foreign investor confidence in the region. Having said this, the possibility of large-scale unrest spreading to Kuwait's own population is considered unlikely. The regime's strong fiscal position enables it to offer generous financial concessions to the population. Indeed, in response to recent protests Kuwait's ruler Sheikh Sabah Al-Ahmad Al-Sabah ordered a grant of $3,599 and free food for 13 months to every Kuwaiti citizen. Political reshuffles are another tool likely to be used by the regime to quell protests. Kuwait's Interior Minister Sheikh Jaber al-Khaled al-Sabah was a recent political casualty when he resigned after facing allegations over torture.

In BMI's Business Environment Ratings for Q211, Kuwait was ranked second out of the 19 markets surveyed in the MEA region. Kuwait is considered a low-risk market, reflecting a stable regulatory, economic and political environment. In terms of market opportunities, Kuwait is above the regional average, reflecting the country's high per capita drug spend and urbanised country structure, which together offset the disadvantage of the small overall size of the pharmaceutical sector.

The government is using some of its increased tax revenues from high oil prices to fund expansion of public healthcare provision. In January 2011, the Kuwaiti Ministry of Health's undersecretary for engineering affairs, Samir Al-Asfour, announced major expansion plans for the healthcare sector. The plans include the construction of new hospitals across the country as well as a number of specialist medical centres. The plans form part of an effort by the government to expand hospital capacity in the country by 30%. Consequently, BMI forecasts that health expenditure growth should exceed GDP growth over the five years to 2015. From KWD869mn (US$3.04bn) in 2010, we expect health expenditure to increase with a CAGR of 8.5% to reach KWD1.31bn (US$4.67bn) in 2015.

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Report Table of Contents:

SWOT Analysis
- Kuwait Pharmaceuticals And Healthcare Industry SWOT
- Kuwait Political SWOT
- Kuwait Economic SWOT
- Kuwait Business Environment SWOT
Pharmaceutical Business Environment Ratings
- Table: Middle East And Africa - Regional Pharmaceutical Business Environment Ratings For Q211
- Rewards
- Risks
Kuwait - Market Summary
Regulatory Regime
- Foreign Direct Investment Regulations
- Intellectual Property Regime
- IP Shortcomings
- Pricing Regime
- Reimbursement Regime
- Public Procurement of Medicines
- Regional Harmonisation
- Free Trade Agreements
Industry Developments
- Epidemiology
- Communicable Diseases
- Non-Communicable Diseases
- Healthcare Sector
- Primary Care
- Secondary Care
- Recent Public Health Developments
- Healthcare Financing
- Healthcare Insurance
- Healthcare Reforms
- International Collaboration
- Research And Development
- Biotechnology Sector
- Medical Devices
- Table: Diverse Potential For Product Launches: New Products For 2009
Industry Forecast Scenario
- Overall Market Forecast
- Table: Pharmaceutical Sales Indicators 2007-2015
- Key Growth Factors - Industry
- Table: Healthcare Expenditure Indicators 2007-2015
- Table: Government Healthcare Expenditure Indicators 2007-2015
- Table: Private Healthcare Expenditure Indicators 2007-2015
- Macroeconomic Forecast
- Table: Kuwait - Economic Activity
- Prescription Drug Market Forecast
- Table: Prescription Drug Sales Indicators 2007-2015
- Patented Drug Market Forecast
- Table: Patented Drug Market Indicators 2007-2015
- Generic Drug Market Forecast
- Table: Generic Drug Sales Indicators 2007-2015
- OTC Medicine Market Forecast
- Table: OTC Medicine Sales Indicators 2007-2015
- Medical Device Market Forecast
- Table: Medical Devices Sales Indicators 2007-2015
- Pharmaceutical Trade Forecast
- Table: Exports and Imports Indicators 2007-2015
- Other Healthcare Data
- Key Risks To BMI Forecasts
Competitive Landscape
- Pharmaceutical Sector
- Foreign Company Developments
Company Profiles
- Local Companies
- Kuwait-Saudi Pharmaceutical Industries (KSP)
- Advanced Technology Company
- Bader Sultan & Bros
- Safwan Trading And Contracting Company
- Multinationals
- Novartis
- Sanofi-Aventis
- Pfizer
- GlaxoSmithKline
- Merck & Co
- Johnson & Johnson
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 Methodology
- How We Generate Our Pharmaceutical Industry Forecasts
Pharmaceuticals Business Environment Ratings
- Risk/Reward Ratings Methodology
- Ratings Overview
- Table: Pharmaceutical Business Environment Indicators
- Weighting
- Table: Weighting Of Components

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Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.