The import value of pharmaceutical products to Indonesia has shown an upward trend from 2013 to 2023, standing at 1198.6 million USD in 2023. Through this period, a significant annual increase is observed, with the largest year-on-year growth rate of 15.32% in 2017. The most recent years indicate fluctuating growth, peaking in 2020 at 9.71%, but then declining to -1% in 2022, and rebounding slightly to 3.73% in 2023. The compounded annual growth rate (CAGR) over the last five years is 3.92%.
Looking ahead, the forecast data indicates continued growth with the import value expected to reach 1403.7 million USD by 2028. The projected average variation per year (CAGR) over the next five years is 2.42%, depicting a slower but steady increase in imports.
Future trends to watch for:
• Increasing local production capabilities which might influence import volumes.
• Changing regulatory frameworks impacting pharmaceutical imports.
• Growing demand for advanced medical treatments and medications.
• Global supply chain disruptions and impacts due to geopolitical factors.
