BMI View: While the losses incurred by Yiaco, the largest drug distributor in Kuwait, highlight a
deteriorated near-term operating environment, with markedly lower prices as a result of the ongoing Gulf
Cooperation Council (GCC) medicine price unification process, drugmakers will continue to perceive high
long-run returns. Exhibiting a high and very costly burden of diabetes and cardiovascular conditions,
Kuwait’s aging population will continue to receive rising access to quality health services as compulsory
health insurance schemes are rolled out to a growing segment of the population.
Headline Expenditure Projections
? Pharmaceuticals: From KWD287mn (USD1.01bn) in 2014 to KWD300mn (USD1.01bn) in 2015;
+4.7% in local currency terms and +0.6% in US dollar terms. Forecast revised downwards from Q215.
? Healthcare: From KWD1.56bn (USD5.49bn) in 2014 to KWD1.67bn (USD5.64bn) in 2015; +6.9% in
local currency terms and +2.7% in US dollar terms. Forecast revised downwards from Q215.

Table of Contents

BMI Industry View 7
SWOT 9
Political 11
Economic 13
Operational Risk 14
Industry Forecast 16
Pharmaceutical Market Forecast 16
Table: Pharmaceutical Sales, Historical Data And Forecasts (Kuwait 2011-2019) 17
Healthcare Market Forecast 18
Table: Healthcare Expenditure Trends, Historical Data And Forecasts (Kuwait 2011-2019) 19
Table: Government Healthcare Expenditure Trends, Historical Data And Forecasts (Kuwait 2011-2019) 19
Table: Private Healthcare Expenditure Trends, Historical Data And Forecasts (Kuwait 2011-2019) 20
Prescription Drug Market Forecast 21
Table: Prescription Drug Market Indicators, Historical Data And Forecasts (Kuwait 2011-2019) 22
Patented Drug Market Forecast 23
Table: Patented Drug Market Indicators, Historical Data And Forecasts (Kuwait 2011-2019) 24
Generic Drug Market Forecast 25
Table: Generic Drug Market Indicators, Historical Data And Forecasts (Kuwait 2011-2019) 26
OTC Medicine Market Forecast 27
Table: Over-The-Counter (OTC) Medicine Market Indicators, Historical Data And Forecasts (Kuwait 2011-2019) 28
Pharmaceutical Trade Forecast 29
Table: Pharmaceutical Trade Data And Forecasts (Kuwait 2013-2019) 30
Table: Pharmaceutical Trade Data And Forecasts local currency (Kuwait 2013-2019) 31
Key Risks To BMI's Forecast Scenario 31
Macroeconomic Forecasts 33
Economic Analysis 33
Expenditure Breakdown 34
Table: Economic Activity (Kuwait 2010-2019) 39
Industry Risk Reward Indices 40
Middle East And Africa Risk/Reward Index 40
Kuwait Risk/Reward Index 48
Rewards 48
Risks 49
Market Overview 50
Industry Trends And Developments 51
Epidemiology 51
Healthcare Sector 56
Healthcare Sector Developments 56
Healthcare Insurance 60
Research and Development 61
Regulatory Development 62
Regulatory Regime 62
Intellectual Property Issues 64
Pricing Regime 65
Reimbursement Regime 67
Competitive Landscape 72
Domestic Industry 72
Foreign Industry 74
Pharmaceutical Distribution 75
Company Profile 76
Pfizer 76
GlaxoSmithKline 78
Sanofi 80
Merck & Co 82
Johnson & Johnson 84
Novartis 87
Kuwait-Saudi Pharmaceutical Industries (KSP) 89
Advanced Technology Company 91
Bader Sultan & Bros 94
Safwan Trading And Contracting Company 97
Demographic Forecast 100
Table: Population Headline Indicators (Kuwait 1990-2025) 101
Table: Key Population Ratios (Kuwait 1990-2025) 101
Table: Urban/Rural Population & Life Expectancy (Kuwait 1990-2025) 102
Table: Population By Age Group (Kuwait 1990-2025) 102
Table: Population By Age Group % (Kuwait 1990-2025) 103
Glossary 105
Methodology 107
Pharmaceutical Expenditure Forecast Model 107
Healthcare Expenditure Forecast Model 107
Notes On Methodology 108
Risk/Reward Index Methodology 109
Index Overview 110
Table: Pharmaceutical Risk/Reward Index Indicators 110
Indicator Weightings 111

List of Tables

Table: Pharmaceutical Sales, Historical Data And Forecasts (Kuwait 2011-2019)
Table: Healthcare Expenditure Trends, Historical Data And Forecasts (Kuwait 2011-2019)
Table: Government Healthcare Expenditure Trends, Historical Data And Forecasts (Kuwait 2011-2019)
Table: Private Healthcare Expenditure Trends, Historical Data And Forecasts (Kuwait 2011-2019)
Table: Prescription Drug Market Indicators, Historical Data And Forecasts (Kuwait 2011-2019)
Table: Patented Drug Market Indicators, Historical Data And Forecasts (Kuwait 2011-2019)
Table: Generic Drug Market Indicators, Historical Data And Forecasts (Kuwait 2011-2019)
Table: Over-The-Counter (OTC) Medicine Market Indicators, Historical Data And Forecasts (Kuwait 2011-2019)
Table: Pharmaceutical Trade Data And Forecasts (Kuwait 2013-2019)
Table: Pharmaceutical Trade Data And Forecasts local currency (Kuwait 2013-2019)
Table: Economic Activity (Kuwait 2010-2019)
Table: Population Headline Indicators (Kuwait 1990-2025)
Table: Key Population Ratios (Kuwait 1990-2025)
Table: Urban/Rural Population & Life Expectancy (Kuwait 1990-2025)
Table: Population By Age Group (Kuwait 1990-2025)
Table: Population By Age Group % (Kuwait 1990-2025)
Table: Pharmaceutical Risk/Reward Index Indicators