Increasing Telemedicine Usage: There has been an increase in the usage of digital healthcare and this will become the new norm in the country post-COVID-19. In March 2019, the Local healthcare app, Alodokter, recorded more than 30 million active users (1.5X higher than pre-COVID-19 traffic). Indonesia’s biggest telemedicine app, Halodoc, as well as ride-haling giant, GoJek, partnered with the Ministry of Health to provide COVID-19 diagnostics in remote areas.
Pharmacy is Becoming One Stop Solution for Healthcare: Pharmacies have focused increasingly on services such as home delivery, prescription records, and medicine consumption reminder services, special diabetic care section, self-diagnostic equipment, natural foods, baby care products, skincare, toiletries, among other things to become a one-stop solution for all pharmacy needs of the customer.
Challenges in Healthcare Industry: Providing healthcare facilities to its citizens that are spread around 17,000 islands is a huge challenge for the Indonesian government. Healthcare facilities in Indonesia are unevenly distributed; despite the fact, only 35% of its island is inhabited. The majority of primary healthcare facilities are located in Java, the most packed island. Puskesmas (government-run clinics) are the main (and only in some cases) point of contact for healthcare services in many underdeveloped rural areas.
Impact of COVID-19 on Indonesia Pharmacy Retail Industry: COVID-19 has severely impacted the pharmacy retail market in Indonesia. In July 2020, the average revenue per pharmacy declined by ~50.0% as compared to the same period in 2019. The imposed lockdown in the country, the decline of pharmaceutical production, and the movement of transport impacted the industry adversely. The demand for OTC and Supplements for boosting immunity increased in 2020; even after the lockdown has the demand for these products continues to rise. Companies are expected to invest in online sales channels & partnerships to ensure sales revenue.
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 Indonesia is one of the largest pharmaceutical products market in South East Asia and is slowly recovering from the economic crisis after the 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. Indonesia The 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)
Further Segmentation of Product Type based on Hospital-based and Street/Mall Based Pharmacies
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:-
Historical Period – 2014-2019
Forecast Period – 2020-2025
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
For More Information on the research report, refer to the below link: –
Indonesia Pharmacy Retail Market Growth
Related Reports by Ken Research: –
Contact Us: –
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
