MARKET BRIEF (Rubber Medical Devices)
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1 MARKET BRIEF (Rubber Medical Devices) Hospital Expo October 2016 Jakarta, Indonesia Republic of Indonesia
2 CONTENTS Item Topic Page 1 Country Profile 1 2 Market Information 2 3 Demand for Rubber Medical Devices 4 4 Source of Supply 5 5 Distribution Channel 5 6 Market Potential 6 7 Trade Statistics Import Tariffs, Standards and Regulations 12 9 Useful Contacts 13
3 COUNTRY PROFILE The population of Indonesia is estimated at 257 million with an annual population growth of 1.22% in Indonesia's population is equivalent to 3.49% of the total world population. Indonesia ranks number 4 in the list of countries by population. The population density in Indonesia is 142 people per Km 2. On 22 September 2016, the central bank of Indonesia (Bank Indonesia) decided to cut its seven day repo rate from 5.25 percent to 5.00 percent, and this has changed parts of the longterm outlook for investors. Bank Indonesia also reduced its lending rate to 5.75 percent (from previous 5.50 percent), and the deposit rate to 4.50 percent (from previous 4.75 percent previously). This is significant because it shows that lending rates and interest rates have dropped to multi year lows with the current policy changes. [1] The geographical nature of Indonesia with its many islands and the uneven distribution of the population put enormous challenges in developing infrastructure and tackling regional disparities. Lack of infrastructure has hampered the effort to develop and realize the national and regional economic potentials. The organization of an efficient logistics system is a crucial factor in the socio economic development of Indonesia. Currently, the logistics system is in need to become more efficient. The inadequate performance of the logistics system is dragging its export capacity down and constraining the country from fully participating in the global production network. Indonesia s share of exports to total GDP has been low over the period at 28 percent, far smaller than Singapore (150 percent), Malaysia (91 percent) and Thailand (50 percent). Developing an efficient logistics system would increase the competitiveness of Indonesia s external trade and increase export. [2] [1] investments.com/finance/financial columns/what is next for indonesian interest rates/item7220 [2] investments.com/news/news columns/world bank report logistic costs reduce economic potential ofindonesia/item1079 Page 1
4 MARKET INFORMATION Indonesia has overtaken Malaysia and Thailand as the biggest emerging market in Southeast Asia. The combined value of companies traded in Indonesia reached USD416 billion this week and has exceeded its neighbors for more than a month, the longest stretch since early Although Thailand held the top slot briefly, Malaysia was the leader most of the past three years, but stocks in Asia s only net oil exporting nation plunged with crude, paving the way for Indonesia s ascent. [3] Indonesia s demand for medical devices and technology is diverse. In fact, the health sector shows to be a severely underserved market. Public and private health providers are aware of this lack and have pledged to expand and upgrade health services across the country with implications on the respective medical technology and equipment. Changing lifestyles of the middle income bracket has led to a shift towards illnesses in which is treatment western cultures have already experience. Potential buyers for medical devices in Indonesia are public and private hospitals, PUSKESMAS (public primary health care centers), general practitioners, laboratories and pharmacies. The standard of the health services and the respective equipment needed differs depending on the type of hospital (class 1 to class 4). While the 9,510 PUSKESMAS address primary healthcare issues, the 2,083 hospitals offer services from primary up to tertiary class. 468 of the hospitals are privately owned, profit oriented hospitals. They aim at providing services for the middle and upper income bracket. Indonesia will have an estimated healthcare expenditure of more than USD140 per person by 2015, compared to less than USD40 in Indonesia s medical device market is growing more than 14% annually and is valued in excess of USD900 million. The domestic device industry is very underdeveloped imports account for more than 90% of the Indonesian medical device market s total value. [4] [3] /indonesia becomes asean s most valuable emerging market chart [4] asean medical device update/ Page 2
5 Gross national income per capita USD4,610 moving to USD6,000 in Total expenditure on health per capita is USD99 and total expenditure on health is 2.9 % of GDP. Revitalization of health services. 1. Improvement of health facilities of Government local hospital Type C 805 Hospitals 2. To build 3,000 Poskesdes (Villages Health Services Post). 3. Improvement of the 8,737 Puskesmas (Front line General Public Health Clinic). 4. Re enforcement on MDG program Poned & Ponek a. Death mortality of baby from 34 to 23 per 1000 birth. b. Death mortality of woman delivery from 44 to 32 per 1,000 delivery c. Re empowerment of Pokesdes (The Villages health services acceleration). [5] Indonesia launched a new plan for universal health care on 1 January 2014, called Jaminan Kesehatan Nasional (JKN). The phased plan aims to provide coverage to the entire population by As health care facilities and coverage grow, so will the opportunities for device companies. As the country joins the ASEAN regulatory framework, licensing procedures are being transitioned to an on line system. The system is connected with customs, which will help speed transactions. In addition, Indonesia and its fellow ASEAN nations are working to institute the ASEAN Medical Device Directive, which will set forth a unified system of rules and four categories for medical devices, ranging from low risk devices such as tongue depressors to high risk devices, such as heart valves. [6] [5] [6] growing market for medical devices in indonesia 2.html Page 3
6 DEMAND FOR RUBBER MEDICAL DEVICES Indonesia imports nearly all of its medical equipment (97.2% in 2013, Cekindo) and the value of imports continues to increase by 5.4% each year. It is estimated that the total value of all medical device imports to Indonesia will reach USD1 billion in 2018 (Frost & Sullivan). In contrast, total exports of medical equipment and supplies from Indonesia reached only USD304.6 million in mid 2013, dominated by low added value products such as surgical gloves and bandages. Medical consumable products such as catheters made up 23.8% of total imports while diagnostic imaging equipment made up 35% (Cekindo). Indonesia s dependence on imported high tech medical equipment from markets such as the USA and Europe, will continue as Indonesia s scope as a manufacturing base remains more competitive in lower value added medical devices. [7] The Indonesian government has also mandated increased public spending on health, establishing a universal healthcare system and upgrading hundreds of public hospitals. These plans are expected to grow Indonesia s healthcare industry from USD25 billion to USD50 billion by [8] In an article published by Frost & Sullivan entitled Indonesia an attractive market for foreign healthcare, its medical equipment market is expected to swell to USD1 billion by year Currently, 85 percent of Indonesia s medical equipment and devices are imported. The balance 15 percent that are locally produced mainly consist of products such as wheelchairs, crutches and hospital beds. Opportunities lie in specialised equipment used for diagnosing, respiratory therapy, radio immunotherapy, surgery, ultrasound and the like. [7] [8] indonesia healthcare market/ Page 4
7 SOURCE OF SUPPLY Source: Global Trade Atlas As at 2015, the total value of Indonesia import for Rubber Medical Devices (RMD) is USD77.49million, an increase of 12.87% compared to By percentage, Malaysia (28.03%), China (16.04%) and Thailand (11.65%) are the major suppliers of RMD into Indonesia respectively. Malaysia has the biggest share of surgical glove supply to Indonesia (75.31%) and non surgical glove at (69.6%). DISTRIBUTION CHANNEL Who can distribute Medical Device in Indonesia? 1. Only companies that have Distribution license (IPAK) issued by Ministry of Health Republic of Indonesia 2. Imported products must have only ONE legal importer and distributor in Indonesia [9] Any companies wish to enter medical devices market in Indonesia must follow regulations by the Ministry of Health of the Republic Indonesia, Directorate General of Pharmaceutical Services & Medical Devices, and Directorate of Medical Device Production and Distribution Development. The primary government agency in charge of regulations for medical devices and pharmaceuticals is the National Agency of Drug and Food Control (NA DFC). This agency is also in charge of pre market evaluation, standardization, legislation and GMP certification. [10] A local agent/partner is crucial to effective business penetration in Indonesia. Once you appoint a local partner, a strong willingness to invest in education and regular visits is crucial in leveraging your brand awareness and sales revenue in this market. A foreign company is not allowed to register a healthcare business in Indonesia without either a local Indonesian office or a local distributor. [9] [10] devices registration indonesia/ [11] markets/countries/indonesia/industries/healthcare Page 5
8 MARKET POTENTIAL Indonesia missed its target for economic growth in 2015 because of a global slowdown, according to the Finance Ministry, which reported initial estimates for a larger than expected budget deficit and an undershoot on inflation for the year. The economy expanded 4.73 percent from a year earlier, missing the 5.7 percent target set in the state budget, the ministry said in statement on Sunday. Inflation was 3.1 percent last year, lower than the 5 percent goal, the ministry said. [12] A series of economic stimulus packages to boost investment through deregulation and fiscal incentives, including streamlining approval and procurement procedures for infrastructure projects, a temporary reduction in tax on revalued fixed assets and cuts to energy prices. In April 2016, the 12th package was released with a focus on enhancing the ease of doing business for SMEs by cutting the number of procedures for establishing a business from 94 to 49 and the number of permits from nine to six. To further stimulate the economy, the government plans to cut corporate income tax rate to 20% from 25%. [13] [12] /indonesian gdp growth misses target in 2015 ministry reports [13] markets research.hktdc.com/business news/article/asia/indonesia Market Profile/mp/en/1/1X000000/1X00107T.htm Page 6
9 A) TRADE STATISTICS 1. MULTILATERAL TRADE a) Rubber Products (i) Indonesia Import of Rubber Medical Devices Rank Partner Country USD Million % Share % Change /2014 World Malaysia China Thailand Singapore Germany Japan India South Korea Philippines United States Source: Global Trade Atlas Page 7
10 (ii) Indonesia Import of Rubber Medical Devices HS Code Product Category USD Million % Share % Change /2014 Rubber Medical Devices RMD Catheters (incl non rubber) Non Surgical Gloves Hygienic Articles Of Soft Vulcanized Rubber Surgical & Medical Gloves Condoms Page 8
11 MAJOR RUBBER PRODUCTS IMPORTED BY INDONESIA (i) Rubber Gloves (Non Surgical Gloves) Rank Partner USD Million % Share % Change Country /2014 World Malaysia Thailand China South Korea USA Source: Global Trade Atlas (ii) Rubber Gloves (Surgical Gloves) Rank Partner Country USD Million % Share % Change /2014 World Malaysia Germany China Thailand Sri Lanka Source: Global Trade Atlas Page 9
12 (iii) Catheters Rank Partner Country USD Million % Share % Change /2014 World China Germany Singapore Malaysia Japan Source: Global Trade Atlas (iv) Condoms Rank Partner Country USD Million % Share % Change /2014 World Thailand Malaysia India Japan Germany Source: Global Trade Atlas Page 10
13 2. BILATERAL TRADE a) Rubber Products (i) Malaysia s Export of Rubber Products in 2015 (By Destination) Rank Country Value (RM Million) % Share 1 United States Of America 5, Germany 1, Japan 1, United Kingdom China Indonesia (18) Other 8, Total 17, Source: Department of Statistics, Malaysia (ii) Malaysia s Export of Rubber Products to Indonesia Rubber Products (RM Million) Year Footwear General Rubber Goods Industrial Rubber Goods Inner Tubes Latex Goods Tyres Total Source: Department of Statistics, Malaysia Page 11
14 Year (iii) Malaysia s Import of Rubber Products from Indonesia Rubber Products (RM Million) Footwear General Rubber Goods Industrial Rubber Goods Inner Tubes Latex Goods Tyres Total Source: Department of Statistics, Malaysia IMPORT TARIFFS, STANDARDS AND REGULATIONS As Malaysia is a member of the ASEAN Free Trade Area (AFTA), it enjoys zero tariff rates on all rubber products entering the Indonesian market. The following table indicates the tariffs on rubber products imported from the most favoured nations into Indonesia. Page 12
15 USEFUL CONTACTS Address Jl. H.R. Rasuna Said, Kav.X/6, No. 1 3 Kuningan, Jakarta Selatan Telephone Canseri Fax: maljakarta@kln.gov.my H. E. Dato' Seri Zahrain Mohamed Hashim Ambassador Extraordinary and Plenipotentiary Address 12th Floor, Plaza Mutiara Jl. Lingkar Kuningan Kav. E.1.2, No. 1 & 2 Kawasan Mega Kuningan, Jakarta Indonesia Telephone / Fax jakarta@matrade.gov.my Mr Naim Abdul Rahman Trade Commissioner Date updated: 13/10/16 Page 13
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