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The Pharmaceutical Market in Indonesia.

  • 04-01-2019

The Pharmaceutical Market in Indonesia.

The pharmaceutical market in Indonesia has expanded rapidly from 63.8 trillion in 2013 to 85.6 trillion in 2016. The country's pharmaceutical industry has grown by 85% over the period 2013 to 2017. This is due to the incentives promoted by the government after the introduction of the public health insurance program called Jaminan Kesehatan (JKN) in 2014. In addition, it is the largest concentration of Muslims in the world, adding more specifications to the market. Due to its culture, it is a market that requires continuous involvement and it is not possible to measure short and medium term results.
On March 11-14, ABIQUIFI held the Indonesian Prospective Mission in partnership with Apex-Brasil and the Brazilian Embassy in Jakarta.
The mission achieved the precious goal of initiating a first contact with the Indonesian market and prospecting a market of relevance for the Brazilian health industry. The fact that it has a large population in full expansion and great involvement of the state in the economy makes the country attract the interest of several countries.
Openness to external investment and interest in partnerships for innovation is evidenced by bilateral agreements signed with countries such as Germany, Spain and Switzerland. However, this process can be treated with difficulty by the Brazilian business community, taking into account in particular the issue of the five-year patent protection period. As far as exports are concerned, Indonesia is at a time of encouraging import substitution policies since the end of 2018 when its trade balance began to show negative results. In this way, the market for finished products is difficult.
Despite some negative aspects from the political point of view, the Sectorial Project has found a niche of opportunity for vertical Pharmaceutical Supplies and Animal Health, whose regulation is more lenient and, in the case of pharmaceutical inputs, the country imports 100% of what it is used. Although the largest suppliers of these products to Indonesia are India and China, Brazil has the opportunity and competitiveness, especially if domestic companies specialize in Halal products.

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