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).
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:-
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:-
Health Care Associations
Time Period Captured in the Report:-
Historical Period – 2012-2017
Forecast Period – 2018-2022
For more information on the research report, refer to below link:-
Ankur Gupta, Head Marketing & Communications