Market Research Reports - Ken Research Kuwait Pharmaceuticals Market Outlook to 2022 | Page 2

spending between 2010 and 2016, reaching close to KD 2 billion (USD 6.6 Billion) in 2016 and
more than 20 large governmental healthcare projects in the pipeline worth KD 3.5 billion (USD
12 billion) in the country.
Market Segmentation:
In 2017, patented drugs dominated the Pharmaceuticals market of Kuwait as compared to
generic drugs in terms of revenue. This is because branded and patented drugs are more
popular in the country due to the relative wealth of the population and expatriate workers. The
high price of patented drugs when compared to generic drugs has also resulted in the higher
market share of patented drugs in terms of revenue share in the market. Prescription drugs
sales had a major revenue share in Kuwait Pharmaceuticals Market while OTC drugs had a
smaller share. The demand for prescription drugs is driven by the increased number of patients
at hospitals and clinics who mainly prefer prescribed drugs. The growth in spending can be
attributed to new brands, high prices for existing drugs and fewer patent expiries. In 2017,
Institutional sales have accounted for a much larger revenue share as compared to retail sales.
Analgesics and Anti Inflammatory drugs had the largest market share in the Pharmaceuticals
market in Kuwait in terms of revenue. This is because of the wide range of applications such as
treatment of fever, headaches, flu, colds, musculoskeletal injuries and disorders, arthritis,
toothaches, and menstrual cramps increases the revenue share of this segment. This was
followed by respiratory, cardiovascular, gastrointestinal, anti infectives, CNS and
musculoskeletal.
Competitive Landscape
The Kuwait Pharmaceuticals market is highly fragmented. It is dominated by foreign
corporations in Kuwait and the only indigenous manufacturer of Kuwait operating in the
pharmaceuticals market is Kuwait Saudi Pharmaceutical Industries Company (KSPICO). The
regional/local players of the Middle East operating in Kuwait comprised of companies such as
Julpar, Spimaco, Tabuk, Hikma Pharmaceuticals etc. In 2017, Pfizer had the highest market
share in the Pharmaceuticals market in Kuwait followed by AstraZeneca, Abbvie, Novartis, GSK,
Roche, MSD, Sanofi, Johnson & Johnson, Abbott, Julphar, Tabuk and Hikma Pharmaceuticals on
the basis of revenue.
Future Outlook
The future outlook of the industry is positive and the industry growth will be led by the
widespread prevalence of chronic diseases, growing population and the high per capita income
of the people in the country. The limited indigenous manufacturing capabilities also present a
number of growth opportunities for multinational and regional pharmaceutical companies to
enter the Kuwait pharmaceuticals industry. The large investments which have been undertaken