INDONESIA MEDICAL DEVICES MARKET

INTRODUCTION

Any tool or element used to treat, identify, or avoid an illness or unusual bodily condition is referred to as a medical device. Devices used for animals or for veterinary reasons are not considered medical devices.

Medical equipment range in complexity from simple ones like x-ray machines, insulin pumps, and pacemakers to more complex ones like adhesive bandages, toothbrushes, and contact lenses. They also comprise diagnostic tools like pregnancy test kits, blood glucose monitors, and cancer screening assays.

medical equipment in various settings or for extended periods of time. For these reasons, devices need to be reevaluated since it's possible that relevant new information about a device's safety, efficacy, and quality needs to be taken into account.

Medical devices that have been given the go-ahead to be sold are continually examined for continued quality, effectiveness, and safety.

Several nations, including the Netherlands, England, Poland, Nigeria, Cambodia, Vietnam, the Philippines, Myanmar, Singapore, South Korea, and the United States, purchased Indonesian pharmaceutical products and medical equipment.Indonesiaisagreatcountry for investorsduetoits robusteconomic growth andattractivedemographics.

INDONESIA MEDICAL DEVICES MARKET SIZE AND FORECAST

The Indonesia Medical Devices market accounted for $XX Billion in 2021 and is anticipated to reach $XX Billion by 2026, registering a CAGR of XX% from 2022 to 2027.

MARKET DYNAMICS

In support of the government's "Healthy Indonesia" blueprint and vision, Bio Farma, the parent company of Indonesia's pharmaceutical state-owned enterprises (SOEs), has announced that it is working with Google Cloud, Fitbit, and ConnectedLife on a new digital health initiative called "Preventive Care Medwell."

To enable Indonesians to take proactive actions toward healthy living and the prevention of chronic diseases, the organisations have created "ConnectedLife with Fitbit," a personalised wellness and population health virtual platform, the first of its type locally.

Google Cloud's open, scalable, and secure-by-design infrastructure and data services serve as the foundation for ConnectedLife with Fitbit. The platform enables customers to sync their Fitbit health insights with the ConnectedLife online and mobile dashboard for a comprehensive view of how lifestyle factors affect health.

The Ministry of Health in Indonesia has introduced a special e-Catalogue for medical equipment. Previously, all items purchased by the government, from pacemakers to street lighting, were included in a single e-Catalogue.

This has been divided into sectoral e-Catalogues, which are unique to ministries like the Ministry of Health, and a national e-Catalogue for things that are needed on a national level.

This means that the Ministry of Health, rather than Indonesia's National Public Procurement Agency, will assess medical devices, health-supporting instruments, and household health items (MoH).

In Indonesia, Brighter has received a patent for computer-driven monitoring of the health of portable medical devices. The Actiste Diabetes Management as a Service is being introduced across the region by a team at Brighter with operations in Jakarta. In the past, the patent was authorised in South Korea and some regions of Europe.

The patent guarantees access to a system that enables artificial intelligence (AI)-powered monitoring of the functionality of mobile medical equipment with injection apparatus, such as the company's Actiste diabetes management device, to determine whether the device requires maintenance, repair, or replacement.

RECENT PRODUCT DEVELOPMENT AND INNOVATION

100% foreign ownership is now permitted in businesses that import and gain regulatory permission for medical equipment under the umbrella term "Investment Business Fields". Previously, the Negative Investment List included a 49 percent cap on foreign ownership of businesses that import and receive regulatory approval for medical equipment.

Because this regulation change gives foreign businesses full legal authority over the Indonesian subsidiaries that obtain and manage the marketing permission of their imported medical products, it is expected to lead to an increase in foreign investment in Indonesia.

Additionally, majority Indonesian-owned businesses with regulatory know-how can still get and keep the marketing authorisation in their capacity as the regional representatives of global medical device manufacturers.

Companies in Indonesia are expected to work with one or more local distributors to deliver their medical device items to hospitals and clinics in accordance with laws set forth by the Ministry of Trade. Some medical device importers outsource quality control, packaging, and labeling tasks to these regional distributors in order to avoid duplicating their efforts.

NEW PRODUCT LAUNCH 

As a realisation of the nation's health technology transformation pillar, Indonesia's Health Ministry unveiled the Indonesia Health Services platform in Jakarta.

The platform, called SATUSEHAT, which translates to "ONEHEALTHY," aims to support the implementation of other Indonesian health systems' transformation pillars, including those involving primary services, referral services, health resilience systems, health financing systems, and transformation of human resources in the health sector.

This occurs as the ministry works toward integrating the platform with 8,000 of the nation's health facilities. A streamlined cardiotocography (CTG) tool called Tele-CTG offers affordable, portable, and real-time data collection.

Tele-aims CTG's to contribute to the successful completion of one of the Sustainable Development Goals (SDGs) by reducing maternal and infant mortality rates through the use of a more reasonably priced CTG technology for more accurate and early diagnosis, as well as better governance.

COVID-19 IMPACT ON INDONESIA MEDICAL DEVICE MARKET

The epidemic has probably helped us become more aware of the critical responsibilities that medicine, medical technology, and medical professionals play in society. Many governments have increased their funding for medical research initiatives and stocked up on immune-strengthening vitamins, supplements, and medications as a result of the race to find a cure for COVID-19.

The pharmaceutical industry is a profitable one in Indonesia. The medical device and pharmaceutical industries have been included as priority sectors in Making Indonesia 4.0 as a result of increasing demand. The government promotes digital-bad technology transformation in an effort to increase the competitiveness of the pharmaceutical and medical device industries.

In order to help the nation combat the COVID-19 pandemic, the Indonesian Investment Coordinating Board (BKPM) and the Minister of Health have decided to offer medical equipment suppliers accelerated licensing.

COMPANY PROFILE

• Philips
• Stryker
• Siemens Healthineers
• Becton Dickinson & Company
• Cardinal Health

THIS REPORT WILL ANSWER FOLLOWING QUESTIONS

1. What is the average cost per  Indonesia Medical Devices market  right now and how will it change in next 5-6 years? 
2. Average cost to set up a Medical Devices market  in Indonesia?
3. How many Indonesia Medical Devices market  are manufactured per annum globally? Who are the sub-component suppliers in different regions?
4. What is happening in the overall public, globally? 
5. Cost breakup of a  Indonesia Medical Devices market  and key vendor selection criteria
6. Where is the Indonesia Medical Devices market  manufactured? What is the average margin per equipment?
7. Market share of Indonesia Medical Devices market  manufacturers and their upcoming products
8. The most important planned  Indonesia Medical Devices market  in next 2 years
9. Details on network of major Indonesia Medical Devices market  and pricing plans
10. Cost advantage for OEMs who manufacture Indonesia Medical Devices market  in-house
11. 5 key predictions for next 5 years in Indonesia Medical Devices market
12. Average B-2-B Indonesia Medical Devices market price in all segments
13. Latest trends in Indonesia Medical Devices market, by every market segment
14. The market size (both volume and value) of Indonesia Medical Devices market in 2022-2027 and every year in between?
15. Global production breakup of Indonesia Medical Devices market, by suppliers and their OEM relationship