Boston, MA -- (SBWIRE) -- 03/07/2013 -- BMI View: Indonesia's new goal to establish universal healthcare coverage by 2019 rather than 2014 is more feasible given that the programme will be rolled out in phases. We continue to see universal healthcare coverage as a key theme in Asia, although poor governance in several countries across the region will delay its implementation. Despite this, pharmaceutical firms will continue to enjoy strong growth in the region due to the expanding, increasingly ageing and affluent population, which will boost volume demand for pharmaceuticals as well as medical services across the board.

Headline Expenditure Projections

- Pharmaceuticals: IDR53,041bn (US$6.04bn) in 2011 to IDR58,657bn (US$6.25bn) in 2012; +10.6% growth in local currency terms and +3.5% in US dollar terms. Local currency forecast broadly unchanged from previous quarter.
- Healthcare: IDR195,355bn (US$22.26bn) in 2011 to IDR223,454bn (US$23.82bn) in 2012; +14.4% growth in local currency terms and +7.0% in US dollar terms. Local currency forecast unchanged from previous quarter.
- Medical devices: IDR5,721bn (US$652mn) in 2011 to IDR6,282bn (US$670mn) in 2012; +9.8% growth in local currency terms and +2.7% in US dollar terms. Local currency forecast broadly unchanged from previous quarter.

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Risk/Reward Rating: In our Q113 Pharmaceutical and Healthcare Risk/Reward Ratings (RRRs), Indonesia slipped from 11th to 12th position out of the 18 Asia Pacific markets. Nevertheless, its composite score remains an unchanged 48.4 out of 100. Indonesia's rewards are viewed as being slightly better than the regional average, but its risks profile is considerably more unfavourable, both in terms of industry- and country-specific risks, which will continue to detract foreign players from participating in the country's pharmaceutical market. Globally, Indonesia ranks 53rd out of the 95 markets surveyed.

Key Trends And Developments

- In September 2012, Iran was planning to set up a pharmaceutical plant in Indonesia in the near future, IRNA reported. The Indonesian chairman of the Iran-Indonesia Parliamentary Friendship Group, Ahmad Shahab, said the Ministry of Health had requested the plant. He was speaking at a meeting with several officials from the Iranian health ministry. Shahad also highlighted the need to work on the memorandum of understanding (MoU) signed between the countries five years ago.

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