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Indonesia Pharmaceutical Industry 1H11
Emerging Markets Direct, Sep 2011, Pages: 30
'Indonesia Pharmaceutical Industry 1H11' provides a sector overview and looks at sector size and value, sector performance, foreign support, and import and export. It also covers market trends and outlook, regulatory changes, counterfeit drugs, and industry SWOT analysis and market outlook, plus acomparative matrix and SWOT analysis of the leading players PT Kalbe Farma Tbk, PT Merck Tbk, and PT Kimia Farma (Persero) Tbk.
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 a huge generic drugs sector, which is likely to see consolidation as larger companies seek to maximize profits through acquisition of smaller domestic companies. However, it is noteworthy that part of the generics market is made up of counterfeit drugs. Over-the-counter (OTC) segment has also shown steady growth in recent years, attributed to increased self-medication and accessibility to more affordable drugs.
The majority of the local pharmaceutical companies achieved better sales growth in 2010, supported by improved macro-economic conditions and stable raw material import prices. The leading players include PT Kalbe Farma Tbk, PT Merck Tbk, and PT Kimia Farma Tbk.
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