Indonesian Pharma Market Value “$10.11 billion by 2021”

Indonesia’s pharmaceutical market-the largest market in the Association of Southeast Nations (ASEAN)-is predicted to reach $10.11 billion by 2021, according to business and information analytics company, GlobalData.

The company’s latest report finds that key market drivers are the introduction of 15 economic policy packages to attract foreign investors, the implementation of Universal Health Coverage scheme (Jaminan Kesehatan Nasional, JKN), and the growing urban population. However, remaining challenges include inadequate public and private infrastructure, traditional and counterfeit medicines, and poor healthcare spending.

The Ministry of Health of the Republic of Indonesia (MoHRI) manages the pharmaceutical production, regulates drug ceiling prices, and ensures the availability of 484 essential drugs listed in the National List of Essential Medicines (NLEM). In 2015, ethical, branded, and unbranded generics accounted for 62% of the pharmaceutical market and OTC drugs covered the remaining share.

In 2015, the unbranded generic market was $619m, representing 10.8% of the pharmaceutical market and share is expected to increase further as Indonesians begin to rely increasingly on JKN.

Read the full report here.