FORYOU MEDICAL First Time Participated Hospital Expo

Indonesian Hospital Expo 2023 was held from 18 to 21 October 2023 at Jakarta Convention Centre - JCC, Jakarta, Indonesia. It is an International Hospital, Medical, Pharmaceutical, Clinical, Laboratories Equipment and Medicine Exhibition. It will provide the best opportunity for medical equipment players to introduce their products and innovations besides exchange of experiences and ideas leading to widened and profit oriented investment. According to the official post exhibition report, the exhibition covers an area of 21355 square meters, with a total of 571 companies participating and attracting 47564 visitors to the exhibition site. 

Indonesia is the fourth most populous country in the world, with a population of 276 million as of December 2022. However, the Indonesian government's investment in health is relatively low. In 2021, the proportion of total health expenditure to GDP was 3.7%, and health expenditure accounted for 5.1% of total government expenditure. The per capita health expenditure was $118. In January 2014, Indonesia officially implemented the "National Health Insurance(Jaminan Kesehatan Nasional/JKN)" plan, which was originally planned to cover the entire country of Indonesia by 2019. JKN implemented by the BPJS, the first phase covers 121 million people, including civil servants, military personnel, and police. In 2014, the Indonesian government allocated 19.93 trillion Indonesian rupiah from the national budget to support the insurance of 86.4 million impoverished people. That year, 1710 hospitals and 15000 clinics joined the plan, covering all disease categories. Although the outbreak of the COVID-19 has affected the implementation of the plan to some extent, by 2020, the number of insured people in the plan still exceeded 221 million, indicating that the Indonesian government is determined to improve the health security of the whole people, actively promote the development of the health industry, and the medical nutrition of the Indonesian people is gradually improving. 

In addition to participating in the United Nations Millennium Development Goals, the Indonesian government has also updated its national development plan, which includes the development of the healthcare industry as one of Indonesia's priority plans. The areas covered by the plan include medical consumables, hospital furniture, orthopedic related products, electronic devices, diagnostic imaging equipment, PACS, software and IT management equipment and services, clinical examination reagent products, bed side POCT, and radiology technology. Indonesian Minister of Industry Agus Gumiwang Kartasasmita stated that the pharmaceutical and medical device industry in Indonesia has a market value of approximately $3.5 billion in 2021 and is expected to reach $6.5 billion by 2026. At present, the medical equipment used in Indonesia is mainly imported. Mr. Sugihadi, Chairman of the Indonesian Medical Equipment Association, has stated that over 92% of local medical equipment relies on imports. Although the government continues to encourage local businesses to independently produce domestic demand and adjust import tariffs, Indonesia still relies on imports to obtain advanced technology and equipment, and the import market space is huge.

In 2023, FORYOU MEDICAL confirmed to implement the development strategy of more actively exploring overseas markets, improve the overseas market layout, carefully insight into customer needs, ensure supply chain security, and accelerate the promotion of independent brand sales. Indonesia's elderly population (over 65 years old) only accounts for about 10.6% of the total population, which is a country with a low proportion of elderly population. However, according to a report published by the International diabetes Federation (IDF) in 2021, Indonesia is one of the five countries with the largest number of diabetes patients, 19.5 million people, double the number of people in 2019 (10.7 million people), and the cost of diabetes treatment increased by 8%, Therefore, FORYOU MEDICAL believes that the Indonesian market is still one of the potential markets worth exploring, and choosing to participate in the Hospital Expo is our positive response to this insight.

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