Other Pharmaceuticals - Indonesia

Indonesia

Highlights

In Indonesia, the revenue in the market Other Pharmaceuticals market is projected to reach US$1.33bn in 2024.
It is expected to demonstrate an annual growth rate (CAGR 2024-2029) of 4.45%, resulting in a market volume of US$1.66bn by 2029.
When compared globally, United States is anticipated to generate the highest revenue in this market, amounting to US$260.50bn in 2024.
The demand for traditional Indonesian herbal medicines is on the rise, driving the growth of the Other Pharmaceuticals market in Indonesia.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Other Pharmaceuticals market in Indonesia has been experiencing significant growth in recent years.

Customer preferences: Indonesian consumers are increasingly becoming health-conscious and are willing to spend more on healthcare products. This has led to a surge in demand for Other Pharmaceuticals, which are often used to treat non-communicable diseases such as diabetes and hypertension. Additionally, the Indonesian government has been investing heavily in healthcare infrastructure, which has further boosted demand for pharmaceutical products.

Trends in the market: One of the key trends in the Other Pharmaceuticals market in Indonesia is the increasing popularity of generic drugs. These drugs are often cheaper than branded drugs and are becoming more widely available in the country. Another trend is the growing use of e-commerce platforms to purchase pharmaceutical products. This has made it easier for consumers to access a wider range of products and has increased competition in the market.

Local special circumstances: Indonesia has a large population with a growing middle class. This has created a large consumer base for healthcare products, including Other Pharmaceuticals. Additionally, Indonesia has a relatively underdeveloped healthcare system, which has led to a reliance on private healthcare providers and pharmaceutical products. This has created a favorable environment for pharmaceutical companies operating in the country.

Underlying macroeconomic factors: Indonesia has a rapidly growing economy, which has led to an increase in disposable income among consumers. This has allowed consumers to spend more on healthcare products, including Other Pharmaceuticals. Additionally, the Indonesian government has been investing heavily in healthcare infrastructure, which has created a favorable environment for pharmaceutical companies operating in the country. Finally, Indonesia has a large and growing population, which has created a large consumer base for healthcare products.

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.