DUBLIN--(BUSINESS WIRE)--The "Kuwait Retail Pharmacy Market Outlook to 2022 - By Type of Pharmacy; By Type of Drugs, By Type of Sales Channels" report has been added to ResearchAndMarkets.com's offering.
Kuwait retail pharmacy market is in its growing stage and has increased at a positive single-digit CAGR during the period 2012-2017 majorly due to increasing population, the surge in pharmaceutical imports, and growing prevalence of diseases such as Obesity, infectious and chronic ailments such as cancer within the country.
It has been observed that the trend towards preventive healthcare witnessed a rise in line with an increase in healthcare awareness during the review period, thus supporting expansion of the cosmetics and food supplements along with the OTC segment and increasing demand for vitamins and supplements, weight loss formulations, and smoking cessation aids has led the retail pharmacy market positively. On the other hand, growth in the healthcare sector has resulted in widespread of both standalone and pharmacy chains in the country.
Kuwait Retail Pharmacy Market Segmentation
- By Type of Pharmacy: Pharmacy chains are the major dominating category under types of pharmacy in Kuwait. Pharmacy chains accounted for more than half of the share in the number of pharmacies in the country. In Kuwait, people largely prefer to purchase drugs and private-label goods from well-known pharmacy chains majorly due to trust in branded retail pharmacy outlets. Independent Pharmacies remains the second most leading pharmacy stores in Kuwait in terms of number and are followed by Hospitals/clinic-based pharmacies.
- By Type of Drugs: Cosmetics dominated Kuwait retail pharmacy market with a massive share in generation in the year 2017. Increasing expatriate population in the country, the surge in the sale of baby care products and higher price of the medicinal products are the key growth drivers for dominance of cosmetics sale in Kuwait retail pharmacy market. Food supplements (vitamins) captured second-highest revenue share which is later followed by drugs (medicines).
- By Revenue Split per Day: Kuwait retail pharmacy market is highly concentrated among the pharmacy chains. Pharmacies earning per day revenue within the range KD 2,000 to KD 5,000 dominated the segment during the year 2017.
- By Type of Sales Channel: Offline channel in Kuwait retail pharmacy market has dominated the retail pharmacy market in terms of sales revenue during the year 2017. Majority of the pharmacies in Kuwait operate under this business model. However, the online channel in Kuwait retail pharmacy market has accounted for a mere share in the year 2017.
The market of the Retail Pharmacy companies is moderately concentrated with few players constituting more than half of the total share. In Kuwait, nine major players are operating in the retail pharmacy market which contributes a combined share of ~70.0% of total pharmacy stores as of 2017.
Companies compete on the basis of the number of stores, promotional offers; value-added services and distributional channel. Royal Group, Pharmazone and YIACO are the major players in the market. Royal Group is the market leader with dominating share in pharmacy chains followed by Pharmazone and then by YIACO in 2017. Other players in the market include Al-Morji Pharmacy, Tabuk Pharmacy, Saja Pharmacy and others.
Kuwait Retail Pharmacy Future Outlook
The Kuwait pharmacy retail market is expected to grow at a positive single-digit CAGR during the period 2017-2022. The retail pharmacy market in Kuwait will be majorly driven by improved healthcare infrastructures such as an increase in the number of hospitals, pharmaceutical clusters, and primary health clinics. In addition, the high prevalence of contagious diseases, widespread generic drug supply, rise in purchasing power, increasing affordability of healthcare products and the growing over-the-counter drugs market will help to drive growth in Kuwait's retail pharmacy market.
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
- Pharmaceutical Manufacturers
- Pharmaceutical Distributors
- Pharmacy Chains
- Health Care Associations
Time Period Captured in the Report:
- Historical Period - 2012-2017
- Forecast Period - 2018-2022
- Royal Pharmacy
- Ali-Abdulwahab Al-Mutawa
- Boots Pharmacy
For more information about this report visit https://www.researchandmarkets.com/r/4mivrl