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Indonesia Pharma

In: Business and Management

Submitted By jimi02
Words 564
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Indonesia has a fairly small but fast-growing pharmaceutical market, with an estimated value of USD 6.05 billion in 2010. The pharmaceutical market is projected to grow at a compound annual growth rate of 11.3%, reaching a value of USD 11.08 billion by 2015. It is expected that the market will further grow as current drug consumption per capital is relatively lower than neighboring countries at USD 17.8 in 2010, hence there likely will be more increases in health spending in the future. Due to a large population size and relatively strong production base, Indonesia has the potential to be a lucrative pharmaceutical market. The country has huge generic drug market.
Indonesia is attempting to improve health outcomes, provide financial protection from health care costs, and assure consumer satisfaction in a sustainable way through reforms and improvements in its health system. Medicines and vaccines have become an increasingly important input into effective health care services in the last 50 years. While spending on pharmaceuticals and vaccines is estimated to be around 30 percent of total health spending in Indonesia, there is overwhelming evidence that Indonesians are not getting good value for money from much of their spending on medicines. It is, therefore, important that the Government of Indonesia’s medium-term development plan includes a focus on pharmaceuticals.
The GoI goal of reducing the growing burden of non-communicable diseases (NCDs) makes pharmaceuticals even more important. Most of the medicines required for these conditions are now off-patent, and potentially available as cheap generics.

* Growth and Structure of Pharmaceutical Industry of Indonesia
Indonesia’s pharmaceuticals market received a score of 53, which is considerably above the average for the 16 markets in the Asia Pacific region. Indonesia is a lower middle income country, where

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