Pharmaceuticals - Indonesia

Indonesia

The Pharmaceuticals market in Indonesia is estimated to achieve a revenue of US$3.76bn by 2024.
Among the various markets, Oncology Drugs is projected to be the largest with a market volume of US$0.56bn in 2024.
It is expected that the market will experience a steady annual growth rate of 3.98% from 2024 to 2029 (CAGR 2024-2029), resulting in a market volume of US$4.57bn by 2029.
In terms of global comparison, United States is anticipated to generate the highest revenue, amounting to US$630.30bn in 2024.
Indonesia's pharmaceutical market is experiencing a surge in demand for traditional herbal remedies.

Key regions: United States, China, Germany, Japan, Europe

Definition:
The Pharmaceuticals market covers remedies used to cure, treat, prevent, and diagnose diseases. These small molecule drugs or biologic medical products may be called drugs, medications, or medicines. Prescription drugs and over-the-counter (OTC) drugs are both included. Next generation therapies are also part of the Pharmaceuticals market and include gene therapy, cell therapy, and nucleic acid therapy. Cell therapies involve the use of living cells to replace or repair damaged tissues within the patient's body, or to modify cells to perform specific functions. Gene therapies focus on altering a patient’s genetic material to regulate the production of certain proteins. Nucleic acid therapies use short strands of DNA or RNA to inhibit the production of harmful proteins associated with diseases and promote the generation of therapeutic proteins. Depending on the regulations in each country, these products are provided by pharmacies, hospitals, physicians, and/or drug stores, and/or they can be bought elsewhere. They may be administered in the form of pills, capsules, gels, ointments, injections, infusions, lozenges, or aerosols/sprays.

Structure:
The market is subdivided into Oncology Drugs, Anti-Diabetes Drugs, Anti-Rheumatic Drugs, Vaccines, Dermatological Drugs, Antiviral Drugs, Immunosuppressants, Bronchodilator Drugs, Sensory Organ Drugs, Anti-Hypertensive Drugs, Anti-Coagulants, Anti-Fibrinolytic Drugs, Multiple Sclerosis Drugs, Lipid-Lowering Agents and Other Pharmaceuticals. The Pharmaceuticals market is organized in markets that cover drugs used in specific medical fields, i.e., medicines for a specific disesase or a certain type of medicine. They include original brands, biosimilars, generics, and orphan drugs.The Oncology Drugs market covers pharmaceutical products specifically developed for the treatment and management of various cancers. The Anti-Diabetes Drugs market covers medications designed to manage blood glucose levels and improve insulin sensitivity in individuals with diabetes. The market Anti-Rheumatic Drugs includes pharmaceuticals specifically developed to alleviate symptoms, reduce inflammation, and modify the progression of rheumatic diseases. The Dermatological Drugs market covers pharmaceuticals formulated to treat and manage a wide range of skin conditions such as eczema, acne, and rosacea. The Antiviral Drugs market includes medications designed to treat viral infections and reducing the severity and duration of symptoms. The Immunosuppressants market covers pharmaceuticals that suppress the immune system's activity. The Bronchodilator Drugs market covers pharmaceuticals designed to relax and widen the airways in the lungs. The Sensory Organ Drugs market covers pharmaceuticals targeting the treatment of disorders and conditions affecting sensory organs such as the eyes, ears and nose. The Anti-hypertensive Drugs market covers pharmaceuticals designed to lower blood pressure levels. The Anti-Coagulants Drugs market covers pharmaceuticals developed to prevent the formation of blood clots or to dissolve existing clots. The Anti-Fibrinolytics Drugs market covers pharmaceuticals designed to inhibit the breakdown of blood clots. The Multiple Sclerosis Drugs market covers pharmaceuticals aimed at managing and modifying the course of multiple sclerosis. The Lipid-Lowering Agents market covers pharmaceuticals developed to reduce levels of cholesterol and other lipids in the blood. The Other Pharmaceuticals market provides information on additional specialties that are not covered by the main markets.

Additional information:
Market values represent the revenues generated by manufacture prices paid to primary vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), companies (B2B), and governments (B2G).

Company examples: Novartis, Roche, Pfizer, Merck & Co, Johnson & Johnson, AbbVie, Sanofi.

Market

Region

Region comparison

Currency

Analyst Opinion

Indonesia, the world's fourth most populous country, is home to a rapidly developing pharmaceutical market.

Customer preferences: Indonesian consumers have become increasingly health-conscious in recent years, leading to a growing demand for pharmaceutical products. The country's large and growing middle class is also driving demand for higher-quality healthcare, including pharmaceuticals. As a result, there is a growing demand for both branded and generic drugs.

Trends in the market: The Indonesian pharmaceutical market has been growing at a steady pace in recent years, driven by a number of factors. One key trend is the increased availability of healthcare services, particularly in rural areas. This has led to a growing demand for pharmaceuticals as more people have access to healthcare.Another trend in the Indonesian pharmaceutical market is the increasing use of e-commerce platforms to purchase drugs. This has made it easier for consumers to access pharmaceutical products, particularly in areas where traditional brick-and-mortar pharmacies are scarce.

Local special circumstances: Indonesia has a large and highly fragmented pharmaceutical market, with a large number of domestic and international players. This has led to intense competition in the market, with companies vying for market share through aggressive marketing and pricing strategies.The Indonesian government has also been taking steps to increase access to healthcare and pharmaceutical products. For example, the government has implemented a national health insurance program that covers a significant portion of the population. This has helped to increase demand for pharmaceuticals, particularly among lower-income consumers.

Underlying macroeconomic factors: The Indonesian pharmaceutical market is benefiting from a number of underlying macroeconomic factors. These include a growing middle class, increasing urbanization, and a relatively stable political environment. Additionally, the government has been investing heavily in infrastructure, which has helped to improve access to healthcare services and pharmaceutical products.Overall, the Indonesian pharmaceutical market is poised for continued growth in the coming years. As the country's middle class continues to expand and demand for healthcare services increases, the market for pharmaceutical products is likely to continue to grow. Additionally, the government's focus on improving access to healthcare and pharmaceutical products is likely to provide further support for the market.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on drug revenues allocated to the country where the money is spent. Monetary values are given at manufacturer price level excluding VAT.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market. As a basis for evaluating markets, we use financial information of the key players by market. Next, we use relevant key market indicators and data from country-specific associations, such as industry associations. 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, using advanced statistical methods. The main driver is healthcare expenditure. Expiring patents and new drugs in the pipeline are also considered.

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. This market comprises prescription drugs and all OTC drugs covered in the Statista OTC Pharmaceuticals market. However, in the OTC Pharmaceuticals market, revenues are based on end-consumer prices.