Kuwait retail pharmacy market is in its increasing stage and has augmented at a positive single digit CAGR throughout the period 2012-2017 majorly owing to growing population, surge in pharmaceutical imports, and increasing prevalence of diseases such as Obesity, infectious and chronic ailments such as cancer within the country. It has been witnessed that the trend towards preventive healthcare observed a rise in line with an augment in healthcare awareness throughout the review period, thus assisting expansion of the cosmetics and food supplements along with the OTC segment and growing demand for vitamins and supplements, weight loss formulations, and smoking cessation aids has led the retail pharmacy market absolutely. On the other hand, growth in healthcare sector has resulted in prevalent of both standalone and pharmacy chains in the country.
According to the report analysis, ‘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), By Type of Sales Channels (Offline and Online)’ states that the market of the Retail Pharmacy companies is temperately concentrated with few players constituting more than half of the total share. In Kuwait, nine foremost players are functioning in the retail pharmacy market which underwrites a combined share of ~70.0% of total pharmacy stores as of 2017. Companies contend on the basis of number of stores, promotional proposes; value added services and distributional channel. Royal group, Pharma zone and YIACO are the foremost player in the market. Royal group is the market leader with registering share in pharmacy chains followed by Pharma zone and then by YIACO in 2017. Other players in the market involves Al-Morji Pharmacy, Tabuk Pharmacy, Saja Pharmacy and others.
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), By Type of Sales Channels (Offline and Online)” conveys a comprehensive analysis on the Retail Pharmacy industry of Kuwait. The report covers countless aspects involving introduction, value chain, market size by revenue (2012-2017), segmentation by type of pharmacy, by type of drugs, by revenue split and by type of sales channel, competition scenario in the industry, shares and company profiles of foremost players in the market, growth drivers, trends and developments, issues and challenges in the retail pharmacy market and the regulatory framework of industry.
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The Kuwait pharmacy retail market is projected to augment at a positive single digit CAGR during the period 2017-2022. The retail pharmacy market in Kuwait will be majorly propelled by improved healthcare infrastructure such as augment in number of hospitals, pharmaceutical clusters, and primary health clinics. In addition, the high prevalence of contagious diseases, prevalent generic drug supply, growth in buying power, increasing affordability of healthcare products and the augmenting over-the-counter drugs market will help to propel growth in Kuwait’s retail pharmacy market. Therefore, it is predicted that during the near period the market of retail pharmacy will augment more progressively over the review duration.
For More Information, refer to below link: –
Kuwait Retail Pharmacy Market Research Report
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