Fast Market Research recommends "Kuwait Pharmaceuticals & Healthcare Report Q4 2013" from Business Monitor International, now available
Boston, MA -- (SBWIRE) -- 10/14/2013 -- Kuwait's healthcare market is in the midst of change. The government is keen for the private sector to play a greater role in healthcare provision, and it created the Kuwait Health Assurance Company in 2011 to speed up reforms. Once fully operational, by 2015, this company will be the primary healthcare provider for the country's sizeable expatriate population. The government is also trialling - controversially - separating appointment times at hospitals for nationals and foreigners. While nationals have the potential for improved access to healthcare, foreigners may see the quality of healthcare decline. As a small country, opportunities for healthcare providers and pharmaceutical firms are limited. But on the upside, there is demand for modern, innovative drugs and treatments in the country and a strong regulatory framework in place. As such, we forecast double-digit growth in the healthcare market over the course of our five-year forecast period.
View Full Report Details and Table of Contents
Headline Expenditure Projections
- Pharmaceuticals: KWD301mn (US$1.07bn) in 2012 to KWD339mn (US$1.21bn) in 2013; +12.7% in local currency terms and +12.2% in US dollar terms. Forecast raised slightly from Q313.
- Healthcare: KWD1.36bn (US$4.86bn) in 2012 to KWD1.52bn (US$5.41bn) in 2013; +11.8% in local currency terms and +11.3% in US dollar terms. Forecast raised from Q313.
Kuwait scored 58 in BMI's Pharmaceutical Risk/Reward Rating (RRR) for Q413; its score remains unchanged from Q313. It stands in third place in our regional rankings, out of a total of 30 markets.
Key Trends And Developments
Following a failed tender in 2011 - it attracted just one bid - the Kuwaiti authorities launched a second tender for private participation in the Kuwait Health Assurance Company, a part-state-owned entity that aims to accelerate the roll-out of private healthcare provision in the country. According to media reports, several firms had submitted bids by July 2013.
In a six-month trial launched in June 2013, the Ministry of Health introduced separate visiting times for Kuwaiti nationals and expatriates in public health centres. Under the new regulations, Kuwaiti nationals have access to state hospitals in the mornings, while expatriates (which account for around two-thirds of the population) can only make appointments in the afternoon. The trial, which is running at Jahra hospital, is expected to be expanded to all healthcare facilities.
In August 2013, Kuwait's Ministry of Health announced plans to conduct a nationwide survey on noncommunicable diseases in the country, in collaboration with the World Health Organization.
About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
Browse all Healthcare research reports at Fast Market Research
You may also be interested in these related reports:
- Nigeria Pharmaceuticals & Healthcare Report Q4 2013
- Kenya Pharmaceuticals & Healthcare Report Q4 2013
- Croatia Pharmaceuticals & Healthcare Report Q4 2013
- Estonia Pharmaceuticals & Healthcare Report Q4 2013
- Latvia Pharmaceuticals & Healthcare Report Q4 2013
- Hungary Pharmaceuticals & Healthcare Report Q4 2013
- Singapore Pharmaceuticals & Healthcare Report Q4 2013
- Pakistan Pharmaceuticals & Healthcare Report Q4 2013
- Lebanon Pharmaceuticals & Healthcare Report Q4 2013
- South Korea Pharmaceuticals & Healthcare Report Q4 2013