Indonesia Pharmacy Retail Market:– The Increasing Penetration of Universal Health Coverage in Indonesia will Boost the Pharmaceutical Sector: Ken Research – Yahoo Finance
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The report covers 1 MG Market Revenue in Indonesia, 3PL Logistic Players inIndonesia, Analisis Pasar Ritel Apotek Indonesia, Apotek K-24 Number of Stores Indonesia, Average Revenue per Pharmacy Indonesia, Century Apotek Logistic Partners, Century Apotek Market Share, Century Apotek Number of Stores Indonesia, COVID 19 Impact on Indonesia Pharmacy Retail Market, COVID Impact on Contraceptive Usage in Indonesia, COVID-19 Impact on Telemedicine in Indonesia, Indonesia Drug Delivery Major Players, Indonesia E-Pharmacy Subscription Model, Indonesia Guardian Market Share, Indonesia Online Pharmacy Market Competition, Indonesia Online Prescription Medicines, Indonesia Organized Pharmacy Retail Market, Indonesia Patented & Generic Drugs Market Size, Indonesia Pharmaceutical Market, Indonesia Pharmacy Retail Industry, Medicine Distributors future in Indonesia.
Gurugram, India, March 07, 2022 (GLOBE NEWSWIRE) — Key Findings:-
The national pharmaceutical industry is projected to grow this year because the number of participants in the National Health Insurance – Healthy Indonesia Card (JKN-KIS) continues to grow. As of 31st December 2019, the number of participants in BPJS is 224 million people and has exceeded 83% of the total population of Indonesia.
Generic drugs are widely used as an alternative to high-priced patented drugs. The high price of drugs is the result of drug raw materials being imported. Through the JKN program, the government regulates the prices so that medicines are within the reach of people’s purchasing power.
The adoption of online channels for purchasing medicines is slowly increasing as a spill-over of the Covid-19 pandemic. In 2020, Universal Health Coverage launched their app, Mobile JKN application for medical consultations with doctors. The app also features delivery of medicines via courier from primary clinic pharmacies.
High Prevalence of Lifestyle- Related Diseases: High per capita income, sedentary lifestyle and unhealthy eating habits have promoted an inactive lifestyle among the people of Indonesia over the past few years. This has increased the incidence of various life-style related health issues amongst the country’s population which has been a major driving force behind the growth of pharmacy retail sector. As of December 2019, 13.5% of adults aged 18 are overweight and 28.7% are obese (BMI>25) in Indonesia.
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Growth in Online Retail: In order to increase accessibility and convenience, almost all the major pharmacy retail chains have started offering their products through online portals. With the growth of health conscious people, the demand for nutritional products and supplements have increased. This has facilitated the sale of such products through online channels. This is further supported by growing medical awareness and increase in number of internet users in Indonesia. The number of internet users in Indonesia increased from 89.3 million in 2015 to 175.4 million users in 2019.
Increased Life Expectancy and Ageing Population: The life expectancy for Indonesia in 2019 was 71.59 years, a 0.25% increase from 2018. Also, women have higher expectancy rate than men. It is estimated that in 2025 there will be 33.69 million individuals with age >60 years. These statistics reflect improved means of controlling communicable diseases and better medical amenities. These two factors have gradually led to an increase in median age of the population of Indonesia. Normally, individual healthcare expenditure is high during the later stage of a person’s life. With increasing old age population, sale of medicines in the country has also inclined over years.
Plummeting Pharmaceutical Demand due to Covid-19: The demand for medicines decreased by as much as 50% during the corona virus pandemic. This was due to low demand, especially from hospitals that are empty of visitors due to Covid-19. This was further fuelled by people restraining from visiting the pharmacy amid fear of contracting the virus. The social distancing norms and the imposed lockdown have adversely impacted the pharmacy retail industry in Indonesia. Apart from production and utility issues, pharmaceutical companies experienced cash flow difficulties due to the fact that many hospitals are still in arrears for drug payments. In July 2020, total unpaid bills to health facilities reached IDR 3.0 trillion. The demand for medicine in the country remained low at the starting of 2020, however there was increase in demand for OTC products in the second half of the year. Slow recovery is expected in 2021. The manufacturers are expected to shift focus towards generic medicines along with launch of new OTC products due to increasing self medication trends in the country.
Analysts at Ken Research in their latest publication “Indonesia Pharmacy Retail Market Outlook to 2025 By Market Structure (Organized & Unorganized); By Region (West Java , East Java , Central Java , Jakarta , North Sumatra & Others); By Product Categories (Prescribed, OTC, Non-Pharmaceutical Products & Medical Equipment); By Therapeutic Areas; and By Product Type (Patented & Generic Drugs)” observed that in Indonesia is one of the largest pharmaceutical products market in South East Asia and is slowly recovering from the economic crisis after pandemic. The increasing insurance penetration in the country along with rising demand for OTC products is driving the growth of the industry. Increasing focus on promotional and marketing activities, new product launches, partnerships & collaborations are expected to drive the industry in the future. The Indonesia Pharmacy Retail Market is expected to grow at a CAGR of 1.5% on the basis of sales revenue over the forecast period 2019-2025.
Key Segments Covered:-
By Market Structure (Organized & Unorganized),
By Type of Product (Prescribed Drugs, Over-The-Counter, Non Pharmaceutical Products & Medical Equipments)
By Region (West Java , East Java , Central Java , Jakarta , North Sumatra & Others)
By Type of Drugs (Patented & Generics)
By Therapeutic Areas (Anti-Infective, Cardiovascular, Pain/Analgesics , Vitamins/Minerals /Nutrients, Antibiotic, Respiratory, Gastro Intestinal, Gynecology, Neuro & Others)
Companies Covered:-
Kimia Farma Apotek
Apotek K-24
Guardian
Watsons
Century
Viva Apotek
Griya Farma
Key Target Audience:-
Pharma/Medicine Manufacturers
Medicine Distributors/Wholesalers
Health Supplements and OTC Products Manufacturers
3PL Logistic Players
Government Organization catering to the Pharmaceutical Industry
E-Pharmacy Players
Offline Pharmacy Players
Hospitals
Industry Associations
Time Period Captured in the Report:-
Key Topics Covered in the Report:-
Healthcare Overview of Indonesia
Trends and Growth Drivers in the Industry and Challenges Faced
Contraceptive Usage and Trends in Indonesia
Indonesia Pharmacy Retail Size and Segmentations, 2014 – 2019
Ecosystem and Value Chain of Pharmacy Retail Industry in Indonesia
Industry SWOT Analysis and BCG Matrix
Customer Decision Making Parameters
Cross Comparison between Major Players and Company Profiles & Product Portfolios
Future Market Size and Segmentations, 2019-2025F
Covid-19 Impact on the Industry & the Way Forward
Analysts’ Recommendations
Indonesian Pharmaceutical Industry
Indonesia Pharmacy Retail Market
Indonesia Online Pharmacy Market Competition
Indonesia Offline Pharmacy Market Competition
Number of Pharmacy Companies in Indonesia
Number of Online Pharmacy Companies in Indonesia
Pharmaceuticals Delivery Players Indonesia
Drug Delivery Players Indonesia
Major E-Pharmacy Players Indonesia
Snapshot Indonesia Pharmacy
Average Revenue Per Pharmacy Indonesia
Kimia Apotek Number of Stores Indonesia
Century Apotek Number of Stores Indonesia
Watsons Number of Stores Indonesia
Apotek K-24 Number of Stores Indonesia
Kimia Apotek Revenue Indonesia
Century Apotek Revenue Indonesia
Watsons Revenue Indonesia
Apotek K-24 Revenue Indonesia
Guardian Revenue Indonesia
Logistics Charges Online Pharmacy Indonesia
Over the Counter Drugs Sales Indonesia
Prescription Drugs Sales Indonesia
Kimia Farma Logistic Partners
Guardian Apotek Logistic Partners
Century Apotek Logistic Partners
Online Health Consultation Companies in Indonesia
1 MG Market Share
Kimia Apotek Market Share
Century Apotek Market Share
Watsons Revenue Market Share
Apotek K-24 Market Share
Guardian Market Share
Online Prescription Medicines
Online OTC Medicines
Number of Pharmacies in Indonesia
Regulations for Pharmacies in Indonesia
Number of Midwives in Indonesia
Region Wise Pharmacies Indonesia
For More Information on the research report, refer to below link:-
Indonesia Pharmacy Retail Market
Related Reports:-
Thailand Pharmacy Retail Market Outlook to 2025 – By Market Structure (Organized & Unorganized Segment); By Region / Cities (Bangkok & its Vicinity, Central, South, Northeast, North, Eastern & West); By Product Categories (Prescribed, OTC, Non-Pharmaceutical Products and Medical Equipment); By Therapeutic Areas; and By Product Type (Patented & Generic Drugs)
Volatile growth was observed within Thailand pharmacy retail market as multiple pharmacy stores closed due to the non-compliance of GPP standards required by the FDA. However, the closure of pharmacy outlets resulted in higher customer footfall in other pharmacies; hence a lower revenue growth rate was recorded in the year 2019. The market was observed in the growth stage owing to the growing intensity of competition among the retail pharmacies in the market in terms of wide product offering and value added services. The franchise model has become quite popular with new chains adapting to this model for faster store expansion. Moreover, the collaboration between state hospitals and small chains has helped patients being treated under “UHC” alongside the growth of pharmacy stores. Change in population structure i.e. the transition to the Thai aging society has led to a surge in drugs (including dietary supplements) demanded towards chronic diseases such as hypertension, diabetes, and others. The market is booming owing to the rising number of cases of NCDs, online pharmacy services, increasing government health expenditure, and other growth drivers.
Taiwan Pharmacy Retail Market Outlook to 2025 – By Market Structure (Organized and Unorganized), By Region (Taipei Division, Northern Division, Central Division, Southern Division, KaoPing Division and Eastern Division), By Product Sales (Prescribed Medicines, OTC Products, Non Pharma Products and Medical Equipment’s), By Drug Type (Generic And Patented) and By Therapeutic Class
The Taiwan Pharmacy Retail Market is a growing market. The country has universal coverage of health insurance which covers both western medicines and traditional Chinese medicines. The National Health Insurance provides drug reimbursement in which more than 17,000 prescription drugs are covered. In this model, the customer needs to make small co-payment (in order to avoid the wastage and misuse of drug) and the remaining amount is sponsored by the government. The chain pharmacy stores are increasing their presence by opening new stores and acquiring independent stores or small regional chains. Some pharmacy chains have also adopted the franchise model for store expansion. Pharmacies chains are focusing on selling high margin products such as Maternal and Baby Supplies, Cosmetics, Nutritional Supplements and others in order to increase the profitability of their stores. The Taiwan Pharmacy Retail Market witnessed a revenue growth of 2.8% during 2014-2019.
Philippines Pharmacy Retail Market Outlook to 2025 – By Market Structure (Organized and Unorganized), By Location (Standalone and Hospital Based), By Region (North, Central and South), By Product Sales (Prescribed Medicines, OTC Products, Non Pharma Products and Medical Equipments), By Drug Type (Generic And Patented) and By Therapeutic Class
The Philippines Pharmacy Retail Market is a booming industry backed by the growing demand for the generic medicines and increase in the number of chain pharmacies. The market had presence of different type of pharmacy stores such as Chinese drugstores, traditional medicine shops which are now replaced with modern American style pharmacies. The independent pharmacies and regional chains are being acquired by big national chains for expedited expansion. Further, some chains have also adopted the franchise model for store expansion. The high price for pharmaceutical products has shifted the consumer towards the consumption of generic medicines which are now in high demand. The government is revamping the public medicine distribution system in order to make them accessible to the people in rural areas. Online pharmacies are a relatively new concept and are gaining traction in the region. The market witnessed a growth of 3.4% during 2014-2019.
Vietnam Pharmacy Retail Market Outlook to 2025-By Market Structure (Organized & Unorganized); By Region (North, South & Central); By Hospital-based & Street/Mall-based; By Product Categories (Prescribed, OTC, Non-Pharmaceutical Products & Medical Equipment); By Therapeutic Areas; and By Product Type (Patented & Generic Drugs)
The Vietnam Pharmacy Retail Market is in growing stage with increasing healthcare awareness due to growth of ageing population and rising per capita drug expenditure. The rising cases of non-communicable diseases have also contributed to the growth in the demand for drugs across various therapeutic classes. In recent years, chain pharmacy stores have been increasing their presence by opening new stores in different provinces. Government initiatives such as launching of a national medicine database as well as telemedicine platform are also positively impacted the industry. Vietnam Pharmacy Retail Market witnessed a revenue growth of 6.8% during 2014-2019 and CAGR of 8.7% basis number of pharmacies.
Kuwait Retail Pharmacy Market Outlook to 2022 – By Type of Pharmacy (Pharmacy Chains, Independent Pharmacies and Hospital/Clinic Based Pharmacies); By Type of Drugs (Cosmetics, Food Supplements and Drugs), By Type of Sales Channels (Offline and Online)
Kuwait retail pharmacy market is in its growing stage and has increased at a positive single digit CAGR during the period 2012-2017 majorly due to increasing population, surge in pharmaceutical imports, and growing prevalence of diseases such as Obesity, infectious and chronic ailments such as cancer within the country. It has been observed that the trend towards preventive healthcare witnessed a rise in line with an increase in healthcare awareness during the review period, thus supporting expansion of the cosmetics and food supplements along with the OTC segment and increasing demand for vitamins and supplements, weight loss formulations, and smoking cessation aids has led the retail pharmacy market positively. On the other hand, growth in healthcare sector has resulted in widespread of both standalone and pharmacy chains in the country.
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Ken Research
Ankur Gupta, Head Marketing & Communications
Support@kenresearch.com
+91-9015378249
CONTACT: Contact Us:- Ken Research Ankur Gupta, Head Marketing & Communications Support@kenresearch.com +91-9015378249
