Definition:
The Medical Technology market covers devices and products used for prevention, diagnosis, and treatment of diseases. Next to pharmaceuticals, they form the most important category of medical products. The most well known medical technology products are, among others, pacemakers, imaging instruments, dialysis machines, and implants.
Structure:
The Medical Technology market consists of two markets, In Vitro Diagnostics (IVD) and Medical Devices. The IVD market covers products used for medical laboratory testing of specimens derived from the human body. The Medical Devices market covers a broad range of products which are further marketed into medical specialties or types of application: Cardiology Devices, Diagnostic Imaging Devices, Orthopedic Devices, Ophthalmic Devices, and General & Plastic Surgery Devices. The Other Medical Devices market provides information on additional areas that are not covered by the main markets.
Additional information:
Market values represent revenues paid to primary vendors at manufacturer price level either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G). Revenues are allocated to the country where the money is spent.
Company examples: Medtronic, Johnson & Johnson, Abbott Laboratories, Siemens Healthineers.
Further information on the key players can be found in the Market Shares boxes.
Notes: Data shown is using current exchange rates and reflects market impacts of the Russia-Ukraine war.
Most recent update: Aug 2024
Source: Statista Market Insights
Notes: The chart “Comparable Estimates” shows the forecasted development of the selected market from different sources. Please see the additional information for methodology and publication date.
Most recent update: Mar 2024
Most recent update: Mar 2024
Source: Statista Market Insights
The Medical Technology market in Indonesia is experiencing significant growth and development due to various factors. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to the positive trajectory of the industry. Customer preferences in the Medical Technology market in Indonesia are shifting towards more advanced and innovative products. With increasing awareness and access to information, customers are becoming more discerning and demanding when it comes to their healthcare needs. They are seeking out medical technologies that offer greater accuracy, efficiency, and convenience. This has led to a rise in demand for cutting-edge medical devices and equipment, such as advanced imaging systems, robotic surgery systems, and telemedicine solutions. Trends in the market are also driving the growth of the Medical Technology industry in Indonesia. One notable trend is the increasing adoption of digital health technologies. The integration of digital platforms and mobile applications in healthcare delivery has revolutionized the way medical services are accessed and delivered. This trend is particularly relevant in Indonesia, where the vast majority of the population has access to smartphones and the internet. Digital health technologies enable remote consultations, real-time monitoring of patients, and the efficient management of healthcare data, thereby improving the overall quality of care. Local special circumstances in Indonesia further contribute to the development of the Medical Technology market. The country has a large and growing population, with a significant proportion of the population residing in rural areas. This presents unique challenges in terms of healthcare access and delivery. Medical technologies play a crucial role in bridging the gap between urban and rural healthcare services. The government and healthcare providers are investing in the development and deployment of medical technologies that can reach remote areas and provide quality healthcare services to underserved populations. Underlying macroeconomic factors also play a significant role in the growth of the Medical Technology market in Indonesia. The country's robust economic growth, increasing disposable income, and expanding middle class contribute to the rising demand for healthcare services and technologies. Additionally, the government's focus on improving healthcare infrastructure and expanding universal healthcare coverage creates a favorable environment for the development and adoption of medical technologies. In conclusion, the Medical Technology market in Indonesia is experiencing rapid growth and development due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The demand for advanced and innovative medical technologies, the adoption of digital health solutions, the unique healthcare challenges in rural areas, and the country's favorable economic conditions all contribute to the positive trajectory of the industry.
Most recent update: Aug 2024
Source: Statista Market Insights
Data coverage:
Data encompasses B2B, B2G, and B2C spend. Figures are based on medical devices and IVD revenues allocated to the country where the money is spent at manufacturer price levels excluding VAT.Modeling approach / Market size:
Modeling employs a top-down approach with a bottom-up validation, using financial information of the key players by market. Market sizes are determined by a top-down approach, based on a specific rationale for each market market and allocated to the covered countries according to the global market shares. As a basis for evaluating markets, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare system, and regulations concerning medical products. Next, we use further relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare payer system, and regulations concerning medical products. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators.Additional notes:
Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Sep 2024
Source: Statista Market Insights