Kuwait Retail Pharmacy Market is Driven by the Surge in Aging Population in the Country Coupled with Increasing Demand of Private Label Goods: Ken Research

Increasing prevalence of NCDs and chronic diseases, and growth in healthcare awareness in the country has positively driven the retail pharmacy market in Kuwait.

The report titled, “Kuwait Retail Pharmacy Market Outlook to 2022 – By Type of Pharmacy (Pharmacy Chains, Independent Pharmacies and Hospital/Clinic Based Pharmacies); By Type of Drugs (Cosmetics, Food Supplements and Drugs), and By Type of Sales Channels (Offline and Online) by Ken Research believe that the increase in number of pharmacists and opening up of new specialty hospitals in the country will drive growth in Kuwait Retail Pharmacy Market in the future.

Surge in Demand of Private Label Goods: Introduction of first five year plan namely Kuwait National Programme for healthy living (2013-2017) has motivated the people to perform daily exercise which augmented the demand of health supplements among people to stay fit. Moreover, in 2017, private label goods contributed a major dominating  share in terms of revenue generation majorly due to Kuwait has high expatriate population and majority of the expat population is health conscious which led to an increase in the demand of medicinal cosmetic from a retail pharmacy.

Increase in Number of Pharmacists: In Kuwait, number of pharmacists has increased positively during the period 2012-2016 at a CAGR of 8.2% and total number of pharmacists reached 1,462 in the year 2016. Increase in number of pharmacists in Kuwait is directly influencing the market of retail pharmacy as growth in number of pharmacists will lead to opening up of more number of retail pharmacy stores or outlets in the country.

Introduction of Pharmacy Mobile Application: Pharmacy companies launched – “Pharmacy applications” in the market to provide access to pharmaceutical products and in addition to this it provided information about the offers and services. For instance- “Al- Dawaa”, a mobile application was launched by Al-Dawa Medical Services in the year 2014. Furthermore, such mobile application helped the companies to increase market penetration and expand their market outreach.

Shift towards Online Distribution of Drugs: The majority of the Kuwaiti population is between the age group of 25 years to 54 years, which has resulted in an increase in the use of social media and growing internet penetration in the country. In order to compete with the dynamic retail pharmacies, stores have slowly began to shift towards online distribution of drugs along with the other health care products such as (food supplements, vitamins, cosmetics and others).

Keywords:-

Kuwait Retail Pharmacy Market

Drugs Sales Kuwait

Kuwait Pharmacy Chain Market

Hospital Pharmacies Kuwait

Clinics Pharmacies Kuwait

Food Supplement Kuwait

Cosmetics Market Kuwait

Kuwait Retail Pharmacy Growth

Online Retail Pharmacy Kuwait

Retail Pharmacy Kuwait

Kuwait Drug Stores

Kuwait Health Care

Pharmacy Revenue Kuwait

Kuwait Pharmacies Number

Kuwait Pharmacy Chain Number

Kuwait Retail Pharmacy Trends

Trends Pharmacy Kuwait

Kuwait Pharmacy Issues

Key Segments Covered:-

Market Segmentation:-

By Type of Pharmacy (Pharmacy Chains, Independent Pharmacies and Hospital/Clinic Based Pharmacies)

By Type of Drugs (Cosmetics, Food Supplements and Drugs)

By Revenue Split (KD 500 to KD 2,000, KD 2,000 to KD 4,000 and KD 5,000 to KD 10,000)

By Type of Sales Channels (Offline and Online)

Key Target Audience:-

Hospitals

Pharmaceutical Manufacturers

Pharmaceutical Distributors

Pharmacy Chains

Health Care Associations

Time Period Captured in the Report:-

Historical Period – 2012-2017

Forecast Period – 2018-2022

Companies Covered:-

Royal Pharmacy

Pharmazone

YIACO

Ali-Abdulwahab Al-Mutawa

Boots Pharmacy

Al-Hajery

Aster

Dowa

PharmaTee

For more information on the research report, refer to below link:-

https://www.kenresearch.com/kuwait-retail-pharmacy-market.html

Related Reports:-

https://www.kenresearch.com/indonesia-pharmacy-retail-market.html

https://www.kenresearch.com/india-pharmacy-stores-market-report.html

https://www.kenresearch.com/saudi-arabia-healthcare-market-outlook-to-2019-rising-lifestyle-diseases-and-government-investment-to-spur-future-growth.html

Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249

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