Still Early, Online Pharmacy Market Has High Potential
The challenge lies in the authenticity of the product, but the biggest one is the inefficient supply chain
Healthy lifestyle awareness has been a key driver behind the growth of the pharmaceutical retail sector. According to the findings Ken Research, the Indonesian pharmaceutical retail market is expected to grow at a CAGR of 1,5% based on sales revenue during 2019-2025.
There are several factors behind this increase, namely the number of National Health Insurance - Healthy Indonesia Card (JKN-KIS) participants continues to increase. As of December 31 2019, the number reached 224 million people and has exceeded 83% of Indonesia's total population.
In addition, generic drugs are widely used as an alternative to patented drugs which are expensive, due to the majority of raw materials being imported. As a result, through the JKN program, the government regulates prices so that medicines are affordable for people's purchasing power.
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