Income Increases Bode Well for Indonesia In Vitro Diagnostics: Kalorama Report
ROCKVILLE, Md., Nov. 6, 2017 /PRNewswire/ -- Indonesia offers compelling opportunities for companies targeting healthcare markets in Southeast Asia, according to Kalorama Information. The healthcare market research firm said that the number of people with household expenditure exceeding $200 per month is expected to reach 141 million by 2020 (from 74 million in 2013). This improvement, according to Kalorama Information's new report Indonesia IVD Market Analysis, translates into an estimated 233 million-dollar IVD market. One that is expected to grow faster than the IVD market average worldwide. There are other positive factors: expectancy has also gone up and child mortality rates have declined significantly.
"Middle class and consuming class citizens tend to push healthcare systems in emerging nations by demanding better facilities and technology, and in Indonesia this is a key factor making this an important target for testing companies seeking emerging nations revenue," said Bruce Carlson, Publisher of Kalorama Information. "Vast size, growing population makes for a strong market for routine testing such as clinical chemistry and hematology equipment. Long-term, expect testing to be more diversified."
The report said that microbiology, hematology, clinical chemistry, and POC are the largest IVD segments. The growth of these segments are driven by the growing number of hospitals, clinics, and laboratories in both private and government sectors.
Kalorama's report said that the following factors bode well for Indonesia's healthcare spending.
- There has been an overall improvement in health awareness.
- Demand for better healthcare services is also showing an upward momentum.
- The country is seeing a fundamental demographic shift in terms of increasing young, working population.
- The government declared Universal healthcare coverage (UHC) program that intends to cover 100% of its population by 2019.
There are challenges as well. Indonesia's health expenditure is still lower in comparison to neighboring countries, since majority of the population still have low levels of income. The number of non-salaried/ informal workers is still significant. Healthcare facilities currently available in Indonesia are inadequate to meet the needs of the population at present. Existing hospital infrastructure, for example, is not enough to meet the demand. The number of hospital beds in Indonesia in 2015 was estimated to be 1.21 per 1,000 population. Shortage of skilled manpower is another serious concern, as it impacts quality healthcare availability in the country.
Advanced technology segments such as molecular diagnostics, however, are yet to have significant demand in Indonesia.
Roche, Abbott, Cepheid, Mindray, Danaher, Tosoh and bioMerieux are among the IVD companies with a presence in Indonesia. Kalorama's report on in vitro diagnostics market in this Asian Pacific nation contains detailed breakouts of test segment markets, important trends, an overview of the healthcare system and profiles of key company operations in Indonesia.
About Kalorama Information
Kalorama Information, a division of MarketResearch.com, supplies the latest in independent medical market research in diagnostics, biotech, pharmaceuticals, medical devices and healthcare; as well as a full range of custom research services. Reports can be purchased through Kalorama's website and are also available on www.marketresearch.com and www.profound.com.
We routinely assist the media with healthcare topics. Follow us on Twitter, LinkedIn and our blog on our company website.
Press Contact:
Bruce Carlson
212 807 2262
[email protected]
SOURCE Kalorama Information
Share this article