Press Release

Indonesia In Vitro Diagnostics Market to Register a CAGR of 9.35% During 2024-30

The Indonesia In Vitro Diagnostics Market is projected to grow at a CAGR of 9.35% during the forecast period of 2024-30, cites MarkNtel Advisors in the recent research report. The rising incidence rates of chronic illnesses, the increasing healthcare expenditure, and the growing awareness regarding the early detection of diseases are enhancing the requirement for In Vitro Diagnostics. In recent years, consumer's lifestyles in Indonesia have drastically changed as most of the Indonesian population now prefers junk food rather than home-cooked meals and spends most of their income on food purchases.

As per the Business Indonesia Organization, the share of packaged food in the overall monthly spending surged to about 35.59%. This increasing shift towards processed food products is resulting in common health issues like obesity & fatigue. The National Institute of Health (NIH), in 2022, stated that the number of diabetic patients reached about 18 million in Indonesia. These health problems adversely influence vital organs, necessitating medical intervention at the right time. Thus, individuals suffering from these illnesses often undergo regular tests to assess their health, uplifting Indonesia's In Vitro Diagnostics Market.

Additionally, the population within the age group (65 & above) is more susceptible to chronic ailments. Therefore, they undergo frequent diagnostics tests & medical treatment procedures, which contributes to market expansion. Also, various programs launched by the Indonesian government such as the Community Healthy Lifestyle Movement (Germas) would further motivate individuals in Indonesia to go for routine health check-ups to detect and treat health problems as soon as possible. This would largely promote the market growth during forecast years, further states the research report, “Indonesia In Vitro Diagnostics Market Analysis, 2024.”

Indonesia In Vitro Diagnostics Market Segmentation Analysis

Oncology Dominated the Indonesia In Vitro Diagnostics Market

Based on Application, the market is bifurcated into Infectious Diseases, Oncology, Cardiology, Nephrology, Diabetes, Drug Monitoring & Testing, and Others. The rising utilization of point-of-care testing for cancer testing & monitoring processes is enhancing the market share of Oncology in the Indonesian market. Along with this, programs such as the National Cancer Control Program, the Bali Pink Ribbon mission, etc., are enabling Indonesians to prioritize their health and undergo early detection to increase their survival rate. Moreover, healthcare professionals are also encouraging consumers to undertake in vitro diagnostic tests since they provide them with detailed information about their health status, further contributing to the market growth.

Hospitals & Clinics to Outperform in Forthcoming Years

Based on the end-user, the market is further categorized into Hospitals & Clinics, Diagnostic Laboratories, Homecare Settings, and Others. The Indonesian official authorities are focusing on improving healthcare accessibility in rural areas by building new Clinics. The health authorities are compelling the clinics to provide adequate diagnostic & treatment facilities to the consumers. As a result, these hospitals are increasingly replacing their traditional testing services with advanced IVD services, uplifting market growth.

Along with this, non-profit organizations are allocating funds to modernize & upgrade healthcare facilities to cater to patients suffering from diseases and disorders. With the development of new hospitals, the adoption of a variety of in vitro diagnostic instruments, reagents & kits, etc., would increase, driving the segmental market growth.  

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including bioMérieux SA, Abbott Laboratories, PT Prodia Diagnostic Line, Fapon Biotech Inc., VIRTUE Diagnostics(Suzhou)Co., Ltd., Siemens Healthineers Indonesia, Qiagen, F. Hoffmann-La Roche AG, Sysmex Corporation, SD Biosensor, and Others are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the Indonesia In Vitro Diagnostics Market?
3. What key factors would propel and impede the industry across the country?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping across the country?
6. How has the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?