Definition:
The Prescription Drugs market includes pharmaceuticals and other medical products that are sold in pharmacies and are only available on prescription.
Additional information:
The market comprises revenue and revenue growth. Revenues are generated through offline and online spending by (B2C) consumers and include VAT.
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Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Jun 2024
Source: Statista Market Insights
Most recent update: Jun 2024
Source: Statista Market Insights
The Prescription Drugs (Pharmacies) market in Indonesia is experiencing steady growth due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors.
Customer preferences: Customers in Indonesia are increasingly seeking convenience and accessibility when it comes to purchasing prescription drugs. This has led to a rise in the demand for pharmacies that offer a wide range of medications and healthcare products in one location. Customers also value pharmacies that provide personalized advice and recommendations from knowledgeable staff. As a result, pharmacies that can meet these preferences are thriving in the Indonesian market.
Trends in the market: One of the key trends in the Prescription Drugs (Pharmacies) market in Indonesia is the increasing adoption of online pharmacies. With the growing penetration of smartphones and internet access, more customers are turning to online platforms to purchase their prescription drugs. Online pharmacies offer the convenience of home delivery and the ability to compare prices and read reviews before making a purchase. This trend is expected to continue as more Indonesians embrace e-commerce and digital solutions. Another trend in the market is the rising demand for generic drugs. Generic drugs are more affordable alternatives to brand-name medications and offer the same therapeutic benefits. With the increasing cost of healthcare, customers in Indonesia are becoming more price-conscious and are opting for generic drugs to save money. This has led to an increase in the availability and sales of generic drugs in pharmacies across the country.
Local special circumstances: Indonesia has a large population and a growing middle class, which has contributed to the expansion of the Prescription Drugs (Pharmacies) market. As more people have access to healthcare services and can afford prescription drugs, the demand for pharmacies has increased. Additionally, the government has been actively promoting the use of pharmacies as a primary healthcare provider, further driving the growth of the market.
Underlying macroeconomic factors: Indonesia's economy has been growing steadily in recent years, which has resulted in increased disposable income and improved access to healthcare services. This has positively impacted the Prescription Drugs (Pharmacies) market, as more people are able to afford prescription medications. Additionally, the government has implemented policies to improve healthcare infrastructure and increase healthcare spending, further supporting the growth of the market. In conclusion, the Prescription Drugs (Pharmacies) market in Indonesia is developing due to customer preferences for convenience and accessibility, the adoption of online pharmacies, the demand for generic drugs, the country's large population and growing middle class, and the positive macroeconomic factors. As the market continues to evolve, pharmacies that can meet customer needs and adapt to changing trends are likely to thrive in Indonesia.
Most recent update: Jun 2024
Source: Statista Market Insights
Data coverage:
The data encompasses B2C enterprises. Figures are based on offline and online spending by consumers, including VAT. Not included are B2B and B2G sales, or other pharmaceutical sales through hospitals or retail stores such as supermarkets.Modeling approach:
Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market market. As a basis for evaluating markets, we use industry associations, third-party studies and reports and survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per country, consumer healthcare spending, GDP and internet penetration. 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 relevant market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. For forecasting digital trends such as the online-pharmacy sales share we use exponential trend smoothing and the s-curve method. The main drivers are healthcare expenditure per country and consumer healthcare spending.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. GCS data is reweighted for representativeness.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Sep 2024
Source: Statista Market Insights