Indonesia Healthcare Market Assessment

Indonesia is South-East Asia’s largest economy and its healthcare spend is expected to reach around 3.8% of GDP by 2023. The Indonesian pharmaceutical market is forecasted to be among the fastest growing in the ASEAN region. Government incentives to boost domestic medicine production will provide drug makers long-term investment opportunities. There is significant revenue growth potential due to Indonesia’s expansion of healthcare access as the national health insurance scheme rolls out but growth will be driven primarily by generic drug sales given the country’s limited purchasing power.

We at Healthark Insights conducted comprehensive research to understand the overall market dynamics of Indonesian healthcare market. We studied how top MNC’s have played & succeeded in Indonesia and what could be the market opportunity for hepatitis, rheumatoid arthritis & oncology in this country. We conducted our research in three phases:

  • Secondary market assessment: In-depth desk research to identify government interventions, diagnosis & treatment rates, cure rates, key players, and competition in the market to arrive at possible market potential value. We conducted comprehensive research on success stories of other MNCs in Indonesia
  • Primary interviews: Conducted 10-15 interviews with healthcare / pharma stakeholders including physicians, pharmacists, drug distributors, and consultants. We validated our hypothesis as developed from secondary research to the on-ground findings
  • Synthesis of Insights: We developed a series of “Where to Play” and “How to Play” parameters for our client to support their penetration strategy in Indonesia