Indonesia – TRIUMPH country
With a population of 237 million people, Indonesia is the fourth most populated country in the world. Within the Pharma market, it boasts a total annual growth of 13%, and the demand for quality healthcare products is very high. From 2008 to 2013, Indonesia’s expenditures in the healthcare sector increased from US $12.65 billion to approximately US $26.93 billion.
Contrary to forecasts made by numerous specialists, the leading index IDX has tripled since 2009. The Indonesian population is young, national debts are low, and the government is ready to increase the flow of money within the healthcare sector. The population’s currently low consumption of Pharma products coupled with its growing readiness to invest in healthcare products create an excellent potential for growth; the Indonesian Pharma market could easily reach approximately US $11.8 billion by 2015. Furthermore, the Indonesian government is willing to favour partnerships with foreign Pharma companies, since the domestic development of healthcare products is still at a very low standard.