(MENAFNEditorial)
With some of the largest financial buffers of any GCC member nation Kuwait is well equipped to insulate health expenditure from the near-term effects of falling oil prices. Accordingly drugmakers can expect high and rising underlying demand for branded prescriptions to be well sustained due to the sector's perception as a critical source of economic diversification away from hydrocarbons . However recurrent government resignations and a recent stalemate between the opposition and cabinet resulting in major delays to budget approval illustrate the political volatility created by the deeply dysfunctional policymaking process. As such we anticipate mounting uncertainty as to the future direction of public spending which will increasingly frustrate long-term investment.
Headline Expenditure Projections
* Pharmaceuticals: From KWD290mn (USD1.02bn) in 2013 to KWD308mn (USD1.11bn) in 2014; +6.3% in local currency terms and +8.3% in US dollar terms. Forecast up from Q414.
* Healthcare: From KWD1.42bn (USD4.99bn) in 2013 to KWD1.53bn (USD5.50bn) in 2014; +8.3% in local currency terms and +10.3% in US dollar terms. Forecast unchanged from Q414.
Full Report Details at
- http://www.fastmr.com/prod/951111_kuwait_pharmaceuticals_healthcare_report_q1_2015.aspx?afid=101
Risk/Reward Index
Kuwait scores 58.5 in BMI's Pharmaceutical Risk/Reward Index (RRI) for Q115. Kuwait has fallen to third place ceding second position to the UAE with a score of 58.6 out of the 31 markets in the region.
Key Trends a nd Developments
* According to a document obtained by Reuters in December 2014 the Head of the Parliamentary Committee for Budgets Adnan Abdulsamad has announced a potential cut to state spending in FY15/16 owing to a marked decline in oil prices. Finance ministry officials estimate budget spending of KWD19bn (USD65.2bn) for the next fiscal year. Planned spending for the current fiscal year stands at KWD23.2bn (USD79.49bn) according to the document. The estimates assume a further decline in crude prices as well as a fall in Kuwaiti oil production for...
The Kuwait Pharmaceuticals & Healthcare Report features Business Monitor International (BMI)'s forecasts for drugs and healthcare expenditure and imports and exports focusing on the growth outlook for the prescription OTC patented drugs and generics market segments.
BMI's Kuwait Pharmaceuticals & Healthcare Report provides industry professionals strategists company executives investors analysts and sales/marketing heads with independent forecasts and competitive intelligence on the Kuwait pharmaceutical and healthcare industry.
Key Benefits
* Benchmark BMI's pharmaceutical and healthcare market forecasts for Kuwait to test other views - a key input for successful budgeting and strategic business planning in the Kuwaiti pharmaceutical and healthcare market.
* Target business opportunities and risks in the Kuwaiti pharmaceutical and healthcare sector through our reviews of latest industry trends regulatory changes and major deals projects and investments in Kuwait.
* Assess the activities strategy and market position of your competitors using our company profiles (including SWOTs KPIs and latest activity) and competitive landscape tables.
Coverage
BMI Industry ViewAn at-a-glance perspective on the latest regulatory developments key forecast indicators and major corporate developments covering the prescription OTC and generics markets. The pharmaceuticals and healthcare SWOT outlines strategic factors that affect the basic assumptions underpinning BMI’s forecast analysis and taken together with BMI’s political economic and business environment SWOTs it gives a complete overview of market climate.
BMI Industry Forecast ScenarioIndustry forecasts to end-2019 for all key indicators supported by explicit assumptions plus analysis of key downside risks to the main forecasts:
* Healthcare: Total healthcare expenditure (USDbn) healthcare expenditure (% of GDP) healthcare expenditure per capita (USD) hospital beds doctors and birth & mortality rates (all per ‘000 population).
* Pharmaceutical Market: Drug expenditure in USDbn % of GDP and per capita (USD).
* Patented Drug Market: Prescription drug sales (USDbn & % of total sales).
* Generic Drug Market: Generic product sales (USDbn) generic sales (% of total sales).
* OTC Drug Market: OTC sales (USDbn & % of total sales).
* Macroeconomic Forecasts: Nominal and real GDP % real GDP growth % private consumption growth % industrial output growth % consumer price index % GDP price deflator exports imports trade balance current account balance foreign direct investment exchange rate against USD government expenditure and external debt.
BMI’s Pharmaceuticals and Healthcare Risk Reward IndexBMI’s Risk Reward Index provides investors (both national and multinational) looking for opportunities in the region with a clear country-comparative assessment of the market’s risks and potential rewards. Each of the country markets are scored using a sophisticated model that includes more than 40 industry economic and demographic data points to provide indices of highest to lowest appeal to investors with each position explained.
Market SummaryA snapshot of key market characteristics including total size of the pharmaceuticals and healthcare segments growth drivers leading therapeutic areas and the competitive landscape
Industry DevelopmentsA focus on government healthcare reforms epidemiological trends mergers and acquisitions product launches market entries FDI activity R&D biotechnology clinical trials and supply chain issues.
Regulatory RegimeDetails of the industry regulatory framework and key legislation covering the licensing of new products/services pricing and reimbursements intellectual property taxation and advertising as well as analysis of the overall regulatory burden.
Competitive LandscapeThe competitive landscape section provides comparative company analyses and index by USD sales and % share of total sales – for the total pharmaceutical sector as well as the OTC generics and distribution sub-sectors.
Company Profiles*
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