Analysts predict multi-billion dollar growth in Indonesian pharma

Indonesia’s rapidly-growing pharmaceutical market will reach $12.6 billion by 2020, up from $7 billion in 2015, industry analysts have predicted.

Research and consulting firm GlobalData said the surge, which has seen the sector double in size over the last six years, is driven primarily by the Indonesian government’s economic and healthcare initiatives.

And it looks set to be further boosted by the establishment of a universal healthcare scheme, known as the Jaminan Kesehatan Nasional, which was launched in January 2014 to provide health insurance to 250 million Indonesians by 2019 when it will become the world’s largest social health insurance.