Market Insights Health Pharmaceuticals Vaccines

COVID-19 Vaccines - Indonesia

Indonesia

Indonesia's COVID-19 Vaccines market is anticipated to witness a significant increase in revenue, projecting to reach US$199.10m in 2024.
This notable growth is expected to continue with an annual growth rate (CAGR 2024-2028) of -20.24%, ultimately leading to a market volume of US$80.59m by 2028.
It is worth noting that in a global context, United States will generate the highest revenue, amounting to US$1,832,000.00k in 2024.
Indonesia's COVID-19 vaccine market is witnessing a surge in demand, driven by a large population and government efforts to accelerate vaccination campaigns.

Key regions: Japan, Italy, China, South Korea, Brazil

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Analyst Opinion

The COVID-19 vaccines market in Indonesia has been rapidly developing in recent months.

Customer preferences: Indonesians have shown a strong interest in getting vaccinated against COVID-19, with many people eager to protect themselves and their loved ones from the virus. The government has also been actively promoting vaccination campaigns to encourage people to get vaccinated.

Trends in the market: The COVID-19 vaccines market in Indonesia has seen a surge in demand, with many people lining up to receive their shots. The government has been working to secure more doses of vaccines to meet the growing demand, and many pharmaceutical companies have been ramping up production to keep up with the demand.

Local special circumstances: Indonesia is the world's fourth most populous country, with a population of over 270 million people spread across more than 17,000 islands. The country has a large and diverse population, with many different languages and cultures. This has presented some unique challenges for the government in terms of rolling out vaccination campaigns and ensuring that everyone has access to vaccines.

Underlying macroeconomic factors: Indonesia is a rapidly developing country with a growing middle class and a large and youthful population. The country has been investing heavily in infrastructure and technology in recent years, and this has helped to fuel economic growth and create new opportunities for businesses. The government has also been working to improve healthcare infrastructure and services, which has helped to support the development of the COVID-19 vaccines market.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on drug revenues allocated to the country where the money is spent. Monetary values are given at manufacturer price level excluding VAT.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market. As a basis for evaluating markets, we use financial information of the key players by market. Next, we use relevant key market indicators and data from country-specific associations, such as industry associations. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. The main driver is healthcare expenditure. Expiring patents and new drugs in the pipeline are also considered.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. This market comprises prescription drugs and all OTC drugs covered in the Statista OTC Pharmaceuticals market. However, in the OTC Pharmaceuticals market, revenues are based on end-consumer prices.