Indonesia Cardiovascular Diseases Therapeutics Market Analysis

Indonesia Cardiovascular Disease Therapeutics Market Executive Analysis

The Indonesia cardiovascular disease therapeutics market size is at around $976 Mn in 2022 and is projected to reach $1,706 Mn in 2030, exhibiting a CAGR of 7.22% during the forecast period. In 2023, the Indonesian ministry will put aside $5.96 billion of the $11 Bn total health budget for health transformation. The transformation of primary services through public education, primary prevention, and secondary prevention, as well as boosting the capacity and competence of primary services, will be accomplished with the aid of $4 Bn, according to the minister. Additionally, $1.2 Bn will be allocated for the transformation of referral services through enhancements to intermediate and tertiary services' accessibility and quality. $96 Mn is allocated for the health security system to strengthen disaster preparedness and the resiliency of the pharmaceutical and medical device industries.

In Indonesia, cardiovascular disease (CVD) is responsible for about one-third of all fatalities, with coronary heart disease (CHD) and stroke being among the top fatalities there. According to estimates, stroke and coronary heart disease (CHD) account for more than 470 000 yearly fatalities in Indonesia. The most popular method for removing clots and restoring blood vessel endothelial membrane elasticity is statin treatment. Aspirin is also the medication that Indonesians use the most frequently for the secondary prevention of CVDs. International recommendations on the primary prevention of CVDs only suggest aspirin if the risk of cardiac events persists for at least 10 years due to aspirin's reported increased risk of bleeding.

Nanomedicine is a convergent science that modifies disease treatment and diagnosis by fusing the disciplines of biology, biochemistry, physics, engineering, genetics, and biotechnology. The problems with the currently used traditional stents are being addressed by the investigation of nano polymeric-coated biodegradable stents. These innovative stents can lessen platelet adhesion rates and enhance drug release characteristics. Extensive study is being done on nanomedicines with various properties and compositions for the treatment of CVDs in Indonesia. They consist of polymeric nanoparticles (NPs), silica-based nanoconjugates, micelles, liposomes, liposomes, exosomes, metallic NPs, dendrimers, composite nanosystems, poly (ethylene glycol)-ated (PEGylated) nanospheres, and immunopurified nanoshells.

Market Dynamics

Market Growth Drivers

In Indonesia, the prevalence of cardiovascular diseases is rising due to rapid urbanization and behavioural shifts like poor diets and insufficient exercise. To manage and treat these conditions, there is an increasing need for efficient cardiovascular disease therapeutics. To enhance the general health of its citizens, the Indonesian government has been increasing its spending on healthcare, including cardiovascular disease therapeutics. This increased spending is anticipated to fuel growth in the Indonesia cardiovascular disease therapeutics market. To increase access to healthcare, the Indonesian government established in place a few programs, including therapeutics for cardiovascular disease. For instance, the government has established a national health coverage program that gives access to reasonably priced healthcare services, such as therapeutics for cardiovascular disease.

Market Restraints

The healthcare system in Indonesia is still being built, especially in remote regions. This may restrict access to cardiovascular disease treatments, especially for people who live outside of big cities. The government's plan for comprehensive health coverage gives people access to reasonably priced medical services, including treatments for cardiovascular diseases. Access to some treatments, however, may be restricted by the reimbursement rules for these procedures. The cost of cardiovascular disease therapeutics can be expensive, especially for novel treatments. This may make these treatments less accessible, especially for those with restricted financial means restricting the growth of Indonesia's cardiovascular disease therapeutics market.

Competitive Landscape

Key Players

• Pharos (IDN)
• Etana Biotechnologies (IDN)
• Herlina Indah (IDN)
• Combiphar (IDN)
• Ivosights (IDN)
• Bayer
• Sun Pharmaceutical
• Novartis
• Mylan
• Teva Pharmaceutical
• Zydus
• Pfizer
• Lupin

Healthcare Policies and Regulatory Landscape

The National Health Insurance (Jaminan Kesehatan Nasional or JKN) scheme, which was introduced in 2014 to provide universal healthcare coverage to all residents, mainly governs cardiovascular healthcare and reimbursement in Indonesia. All Indonesian citizens have access to essential healthcare services, including cardiovascular care, under the JKN program. Indonesia has been making investments to increase accessibility to high-quality cardiovascular care facilities. Improve the standard of care, this entails creating specialized cardiovascular centres and hospitals, expanding the pool of qualified medical personnel, and offering training and educational initiatives. The JKN scheme reimburses for a variety of medical services, including cardiovascular treatment. For some therapies or services, there might be restrictions on coverage and reimbursement rates. For some treatments, patients might also need to cover co-payments or other out-of-pocket costs.