Updated on 11 July 2014
The medical devices market is forecast to grow at 12.5 percent yearly from 2013 to 2018, and should cross USD 1 billion in 2018
Singapore: Asia-Pacific per capita healthcare expenditure is assessed to increase by 4.8 percent across the region by 2018 and Indonesia is expected to scale per capita expenditure from $109 to $237 in 2018, representing a year on year growth of close to 14 percent, according to an analysis by Frost and Sullivan.
The analysis firm highlights that Indonesia's pharmaceutical market is among the top three in terms of growth in ASEAN as it has the highest proportion of OTC sales in ASEAN, at 40 percent of the pharmaceutical market, indicating the propensity of Indonesian consumers towards self medication.
The medical devices market is forecast to grow at 12.5 percent yearly from 2013 to 2018, and should cross USD 1 billion in 2018. Mrs Bhuller said that business opportunities exist in surgical equipment, diagnostics and medical imaging equipment and diagnostics.
Mrs Rhenu Bhuller, senior vice president, Healthcare Frost & Sullivan said, "Indonesia's healthcare market is driven by various factors such as investments into Indonesia and growing availability of healthcare services and access in the country. As the ASEAN region grows, Indonesia with its 247 million population is one of the more attractive markets."
Mrs Bhuller also noted that Indonesia has one of the fastest growing private hospital sectors in the region. In addition, Indonesia's imports of medical equipment have been on the rise since 2004 indicating underlying domestic demand. While the growth has been uneven from year to year, contributed in some way due to currency fluctuations, the overall trend has been upwards.