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Indonesia A Regional Outperformer For Drugmakers

Tuesday, 11th of September 2018

Indonesia represents a significant growth opportunity for multinational pharmaceutical firms. It is the largest market in the South East Asia region on an absolute basis and has one of the fastest forecasted growth projections between 2017 and 2027.

The market's growth will be driven predominantly by the imminent transformation of the healthcare system, which will provide a rapid increase in accessibility to medical services.

Mandatory social health insurance system is predicted to boost sales. Government focus on healthcare, highlighted by the objective of achieving universal healthcare by 2019, will significantly improve the outlook of Indonesia's pharmaceuticals and healthcare sector. The scheme will provide free access to healthcare services at the point of use.

Positive developments arise in the pharmaceutical market. In recent years, Indonesia has relaxed FDI laws and announced tax relief policies for pharmaceutical manufacturers, highlighting the country's attempts to improve the operating environment within its pharmaceutical market.

Generic drugs will be the main beneficiaries of universal healthcare. The market for generic drugs is the largest segment of Indonesia's pharmaceutical industry; a trend which is expected to persist given the roll-out of the country's universal health insurance program. Once the healthcare scheme is fully implemented, it is predicted that 19% of total healthcare expenditure will be attributed to pharmaceuticals.

Source: Fitch Solutions; https://www.fitchsolutions.com/corporates/healthcare-pharma/indonesia-regional-outperformer-drugmakers-11-09-2018 (27/09/18)

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