Indonesia export Import Data , Indonesia Import Data
20-Oct-2023
As we all know, the pharmaceutical industry plays an essential role to the Indonesian economy. Knowing the dynamics of pharmaceutical imports in Indonesia is a important component that can transform your pharmaceutical business. By obtaining the Indonesian pharmaceutical import market statistics, you can locate potential opportunities and threats. In this post, we'll talk about important aspects of the pharmaceutical import and export market, together with the most recent pharmaceutical import data.
Indonesia's pharmaceutical market is the world's fourth-most extensive country, and its economy is rapidly expanding and developing. Also, it has established itself as a significant pharmaceutical market in Southeast Asia. The government is also investing in regulatory reform projects to supplement its attempts to attain universal healthcare coverage.
However, considering the prevalence of counterfeit pharmaceuticals, low per capita purchasing power, and an uncertain funding basis, some overseas businesses may be concerned about approaching the market. In 2021, the pharmaceutical market in Indonesia noticed revenue growth of nearly 50 percent, the highest increase in the industry's history.
In 2022, the market value of pharmaceuticals was 2.6 billion dollars, and it is expected to expand to over 4.5 billion dollars by 2028. Based on pharmaceutical trade data, Indonesia imported approximately US$4.36 billion worth of pharmaceutical products in 2022. This represents a slight decline from last year, when imports amounted to US$4.42 billion.
Local pharmaceutical businesses such as Kalbe Farma and Kimia Farma lead the Indonesian pharmaceutical industry. These businesses mostly deal with the distribution of drugs to end consumers. This is not surprising because Indonesia's pharmaceutical industry is still significantly reliant on imported raw materials, which adds challenges and expenditures to the development of local pharmaceutical products.
Based on pharmaceutical import data, the top 5 importers of pharmaceuticals in 2021 were:
To fulfill the needs of their populations, many countries import a significant amount of their medicines. The United States is the world's largest importer of pharmaceuticals due to its large population and high levels of healthcare spending. Germany, Belgium, Switzerland, and France are also major importers of pharmaceuticals due to their high standards of healthcare and strong economies. Vaccines, antibiotics, cardiovascular drugs, and oncology medications are among the most significant imports for these countries. Pharmaceutical items are imported into these countries from a range of countries, including India, China, the United States, and Europe.
Also Read: Exploring India’s Premium Exports to Indonesia
Importing pharmaceutical products can offer numerous benefits to businesses, such as accessing a wider range of products, cost-effectiveness, and meeting market demands. However, without reliable data, it becomes challenging to make informed decisions. This is where pharmaceutical import data steps in. By obtaining comprehensive and accurate importer data from Indonesiatradedata.com, traders gain insights into import trends, top importers, product categories, market fluctuations, market trends, HS Codes, etc. Indonesia pharmaceutical import insights provide access to importers data, enabling businesses to evaluate importers' profiles, track their importing activities, and build fruitful partnerships.
To find accurate and updated pharma import data or HS codes for pharmaceutical products you can visit Indonesia Trade Data.com to gain access to the real-time pharma products database. We provide authentic and genuine Indonesia export data, HS Codes, etc.
Finally, utilizing the potential of Indonesia pharmaceutical import analytics can be a game changer for your pharmaceutical business. Businesses gain a competitive advantage in analyzing market trends, identifying key players, and making educated decisions by utilizing comprehensive import data, importer data, and trade data. Adopting these findings opens the door to strategic collaborations, improved market positioning, and long-term growth in the ever-changing pharmaceutical business. If you are having trouble finding pharmaceutical import export data, you can consider our business professionals. We have extensive knowledge of the market and can help you identify potential buyers and grow your trade business globally. Book a free live demo today!
