Just Published: "Kuwait Pharmaceuticals & Healthcare Report Q1 2015"

From: Fast Market Research, Inc.
Published: Wed Jan 28 2015

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=301

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.

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Company: Fast Market Research, Inc.
Contact Name: Bill Thompson
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