Indonesia Pharmaceutical Market will be led by Growing Generic Drugs and Bio-pharmaceutical Market: Ken Research REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit Expansion of product portfolio by major pharmaceutical companies and increase in demand for generic drugs were the key factors driving growth in Indonesia pharmaceutical Market. The report titled “Indonesia Pharmaceutical Market Outlook to 2022 – By Therapeutic Segment (Anti-Infectives, Gastrointestinal and Metabolism, Cardiovascular System, Central Nervous System, Respiratory, Musculoskeletal, Dermatology, Genitourinary and Hormones, Blood, Oncology), By Domestic and International Players, By Generic and Patent Drugs, By OTC & Prescription Drugs, By Region” by Ken Research suggested a growth at a CAGR of 10.0% in revenue in Indonesia Pharmaceutical Market by 2022. Indonesia healthcare market has observed a favorable growth in the last 5 years. The market is still under penetrated especially in the tier 2 areas in Indonesia as of 2017. The launch and execution of JKN scheme by the government has led to surge in demand for primary healthcare facilities and increased generic drug sale. The market has underscored various deregulation programs which has stimulated foreign investment in the industry. Indonesia Pharmaceutical market is dominated by domestic players which controlled majority of the market in 2017. Recent favorable government regulations have facilitated the entry of foreign players in the space. There are 206 pharmaceutical companies (182 domestic and 24 international companies) located in Indonesia. The market is driven by deregulation in FDI regulations in pharmaceutical and favorable government policies leading to increase in sale of generic drugs. Increased investment in innovation of new drugs with higher margin led to increased profitability of pharmaceutical companies. Expansion of major companies through mergers, acquisitions and alliances has enabled companies to manufacture high end medicines and pharmaceutical products. The local companies largely focus on generic drugs manufacturing that are dependent on imported active pharmaceutical ingredients (API), mainly from China and India. As Jaminan Kesehatan Nasional (JKN) has prioritized the use of generic drugs, the demand for unbranded generic drugs has grown as Indonesians increasingly rely on generic drugs. This has augmented the domestic players’ sales. But at the same time, the market has also witnessed an increase in number of new players which has driven down the margins. Since the product portfolio of majority domestic pharmaceutical companies is dominated by generic drugs, the sales have gone up since 2014. Moreover, the prices of generic drugs are regulated and consistent across Indonesia whereas the prices increase by 10% for branded drugs annually. Domestic players have witnessed success in rural areas of Indonesia. Due to inaccessibility and language barrier existing in the rural areas, the domestic players have been better able to bridge the gap as compared to international players. The domestic players have also dominated the Over the Counter drugs which are driven by the increasing self medication behavior of the population. Domestic players dominate the Anti-Infectives, Gastrointestinal and metabolism and respiratory therapeutic segments. Indonesia biopharmaceutical industry is in the nascent stage. There is a strong interest from research-based global biopharma companies to conduct clinical research in Indonesia because of the large concentrated patient populations and disease profiles. Furthermore, as the industry intends to move towards self sufficiency, Indonesian government released the 11th economic stimulus package with the aim of boosting the domestic production of medicines’ raw materials, particularly for five product categories namely biotechnology, vaccines, herbal extracts, active pharmaceutical ingredients and medical devices. In order to tap the existing potential, large domestic pharmaceutical companies have tied up with international players to manufacture biopharmaceutical products for the treatment of chronic diseases such as cancer, kidney failure and others ProBioGen AG, a CDMO based in Germany, and Bio Farma, a state-owned vaccine manufacturer in Indonesia, has signed an agreement to develop a biosimilar to the monoclonal antibody (mAb) trastuzumab for cancer treatment that will be produced in Indonesia. Kalbe Farma has also launched biosimilar version of insulin in Indonesia to treat diabetes mellitus which is 38% cheaper than the existing insulin. Biosimilars are cheaper imitations of drugs known as biologics. Kalbe Farma set up its biological drug factory, PT Kalbio Global Medika in Cikarang, Bekasi, with an investment value that ranges between USD 30 to USD 35 million. The factory is built under the joint venture between Kalbe and a South Korean pharmaceutical company Genexine Inc, PT Kalbe-Genexine Biologics Key Topics Covered in the Report: Indonesia Dietary Vitamin Supplements Market Pharmaceutical Market Size Indonesia Indonesia Vaccine Market Indonesia Pharmaceutical Regulations Number of Pharmaceutical Companies Indonesia Indonesia Pharmaceutical Market Players Obese Population Indonesia Generic Drug Market Size Indonesia Number of Healthcare Centers in Indonesia Budget Allocation on Healthcare Indonesia Healthcare Spending Indonesia Vitamin and Dietary Supplement Market Indonesia For more information on the research report, refer to below link: https://www.kenresearch.com/healthcare/pharmaceuticals/indonesia-pharmaceutical-market/143542-91.html Related Reports by Ken Research https://www.kenresearch.com/healthcare/general-healthcare/saudi-arabia-healthcare-market-research-report/1106-91.html https://www.kenresearch.com/healthcare/general-healthcare/uae-healthcare-market-report/37505-91.html https://www.kenresearch.com/healthcare/general-healthcare/qatar-healthcare-market-report/99730-91.html Contact: Ken Research Ankur Gupta, Head Marketing & Communications sales@kenresearch.com +91-124-4230204 Tags: Budget Allocation on Healthcare Indonesia, Generic Drug Market Size Indonesia, Healthcare Spending Indonesia, Indonesia Dietary Vitamin Supplements Market, Indonesia Pharmaceutical Market Players, Indonesia Pharmaceutical Regulations, Indonesia Vaccine Market, Number of Healthcare Centers in Indonesia, Number of Pharmaceutical Companies Indonesia, Obese Population Indonesia, Pharmaceutical Market Size Indonesia, Vitamin and Dietary Supplement Market Indonesia