Indonesia Atherosclerosis Therapeutics Market Analysis

Indonesia Atherosclerosis Therapeutics Market Executive Summary

Indonesia Atherosclerosis Therapeutics Market was valued at $17 Mn in 2022 and is estimated to reach $26 Mn in 2030, exhibiting a CAGR of 5.7% during the forecast period.

Atherosclerosis causes plaque, a sticky material consisting of calcium, fat, cholesterol, and other components, to accumulate inside the walls of arteries. This buildup increases the risk of serious illnesses such as heart attacks and strokes, which cause blood vessels to narrow or get blocked. Numerous variables, including high blood pressure, high cholesterol, diabetes, obesity, smoking, a family history of heart disease, inactivity, and an unhealthy diet, can lead to atherosclerosis. Numerous medications, including statins, aspirin, and beta-blockers, have demonstrated potential for reducing or halting the progression of atherosclerosis.

In Indonesia, the prevalence of atherosclerotic cardiovascular disease (ASCVD) is 48.6% in women and 58.3% in men. This indicates that approximately half of all women and nearly 6 out of 10 men in the nation are thought to have ASCVD, a condition where atherosclerosis plays a crucial role. In Indonesia, the prevalence of peripheral artery disease (PAD), an indicator of atherosclerosis, is rising. Furthermore, Indonesia has a high prevalence of different atherosclerosis risk factors, such as hypertension, which affects more than 30% of adults, diabetes, which affects more than 10% of the population, dyslipidaemia, which is characterized by high levels of triglycerides and cholesterol, smoking, which is widely practiced, and rising rates of obesity and physical inactivity, all contributing to the complex landscape of cardiovascular health in the country.

Verzenio (abemaciclib), a targeted treatment for locally advanced or metastatic breast cancer with particular genetic abnormalities, has received regulatory approval in Indonesia from Eli Lilly. While not specifically targeting atherosclerosis, Verzenio may be useful in reducing cardiovascular risks related to other cancer treatments. The sodium-glucose cotransporter-2 (SGLT2) inhibitor Farxiga (dapagliflozin) from AstraZeneca has also been approved in Indonesia for the treatment of heart failure with preserved ejection fraction (HFpEF). Beyond their core role in blood sugar regulation, SGLT2 inhibitors have shown promise in lowering cardiovascular events, offering potential benefits for patients facing complications related to atherosclerosis.

Market Dynamics

Market Growth Drivers

High and rising burden of atherosclerosis: It is estimated that about half of Indonesian women and 60% of men suffer from atherosclerotic cardiovascular disease (ASCVD), of which atherosclerosis is a major factor. This widespread occurrence is driven by the rising incidence of risk factors such as diabetes, dyslipidemia, hypertension, and unhealthy lifestyles.

The rising incidence of atherosclerosis in Indonesia, which is attributed to variables such as diabetes, hypertension, dyslipidemia, and unhealthy lifestyles, is a major force behind the expansion of the market for atherosclerosis treatment medications.

Aging Population: The aging demographic in Indonesia is expected to double the elderly population to nearly 40 million by 2050, significantly elevating the risk of atherosclerosis and related complications, thereby driving market growth for atherosclerosis treatment drugs in the country.

Rising Awareness and Early Diagnosis: As a result of improved screening methods and increased public knowledge of cardiovascular health, atherosclerosis is now identified early, encouraging people to seek treatment as soon as possible. This proactive approach is expected to boost the demand for atherosclerosis treatment drugs in Indonesia, driving market growth by ensuring early and sustained medical intervention in patients' lives.

Market Restraints

Affordability: The high cost of atherosclerosis treatment drugs, particularly the more recent and advanced medications, may limit accessibility for a significant segment of the population. Reliance on imported medications also drives up expenses because of import duties and exchange rate changes. Even though generic drugs are becoming more widely available, there are still gaps in affordability that mostly affect people living in rural areas and those with low incomes. Because of its impact on accessibility and widespread acceptance, the affordability issue restrains the market for atherosclerosis medication treatment in Indonesia. A sizeable section of the population has financial obstacles because of the high costs of newer, more inventive pharmaceuticals, which restricts their access to necessary drugs.

Healthcare infrastructure limitations: Inequalities in the accessibility of healthcare providers and resources, particularly in rural areas, may make it more difficult for people to receive an atherosclerosis diagnosis and treatment on time. Delays in diagnosis and intervention may result from a lack of knowledge about the importance of addressing risk factors and getting medical help. Furthermore, patients may face severe financial hardships as a result of inadequate insurance coverage for long-term illnesses like atherosclerosis. The inadequacies in Indonesia's healthcare infrastructure present challenges to the efficient management of atherosclerosis, affecting patient awareness, accessibility, and financial assistance.

Compliance and Adherence Issues: Long-term drug adherence is often required for the treatment of atherosclerosis, which can be challenging for some patients who experience adverse effects, forgetfulness, or low motivation. The complexity of managing multiple medications for various health conditions further exacerbates challenges in adherence. The need for long-term medication adherence, along with difficulties like side effects and the difficulty of managing multiple medications, may discourage patient compliance, limiting the market potential for treatment solutions. This presents a market restraint for the atherosclerosis therapeutics market.

Healthcare Policies and Regulatory Landscape

The Ministry of Health and the National Agency of Drug and Food Control (BPOM) are in charge of overseeing regulations regarding therapeutic medications and healthcare policy in Indonesia. BPOM is in charge of guaranteeing the efficacy, safety, and calibre of medications, particularly those used to treat ailments like atherosclerosis. Strict evaluations are part of the regulatory approval procedure, which ensures that medications fulfil requirements before being on sale. The Ministry of Health is also essential in developing drug use guidelines, supervising the entire healthcare system, and creating healthcare policy. Compliance with these regulatory frameworks is essential for pharmaceutical companies seeking to introduce and market treatment drugs in Indonesia, contributing to the safeguarding of public health and the effectiveness of healthcare interventions.

Competitive Landscape

Key Players

• Pfizer
• Novartis
• Sanofi
• Merck
• AstraZeneca
• Bayer
• PT Kalbe Farma
• PT Kimia Farma
• Eli Lilly
• AbbVie