India Eyes Kuwait Pharma Market Amid Growing Import Demand

In a bid to tap into increasing pharmaceutical demand in Kuwait, the Indian Pharmaceuticals Export Promotion Council of India (Pharmexcil) is seeking comments from Indian pharma manufacturers and exporters. The move comes after a detailed market survey commissioned by the Indian Embassy in Kuwait and carried out by MARMORE MENA Intelligence, a top regional consultancy firm.

The report highlights huge opportunities for Indian medical device and pharmaceutical companies to enter and develop in Kuwait's emerging healthcare sector. As Kuwait is formulating a national pharmaceutical manufacturing strategy based on the development of a competitive, export-led industry, Kuwait is demonstrating a strong inclination to import high-quality formulations of drugs with less short-term focus on active pharmaceutical ingredient (API) production.

Pharmexcil director general K. Raja Bhanu highlighted that the initiative includes a proposal to send a Pharmexcil-led delegation to Kuwait for direct engagement with local stakeholders. "The findings of the study underscore Kuwait's appetite for high-quality pharmaceutical imports and offer a roadmap for Indian exporters to strategically align their offerings with the country’s healthcare goals," he said.

Significant findings emphasize local biosimilar manufacturing and packaging of medicines, as Kuwait initiated incentive schemes to invite foreign companies through offsetting arrangements. Steps are also being taken to increase domestic production with more extensive supply deals and developments such as modularized factory planning and continuous processing methods. Academic-industry collaborations are being facilitated through specialized research centers.

Kuwait's pharma market saw phenomenal growth during 2020 to 2024, outpacing that of the larger GCC. During 2021 alone, revenues increased by 46.1% compared to 2019 levels. Future growth might slow down, but high levels of revenues are projected to persist, with long-term prospects for Indian exporters. Enhanced India-Kuwait pharma relations are viewed as a win-win in terms of technology collaboration, economic growth, and healthcare progress.