The government is pushing for an import substitution program for ventilator-type medical devices with the aim of maximizing revenue from a global market share of USD 5.79 billion. Minister of Industry Agus Gumiwang Kartasasmita estimates that global demand for ventilators will continue to grow after the Covid-19 pandemic to handle other snacks. Agus said the world market size for ventilator products is estimated to grow 5 percent annually with a value of USD 5.79 billion in 2021 to meet the needs of hospitals, home care, and others. By 2027, he continued, the global ventilator market is projected to reach USD 9.13 billion.
"Thus, the presence of the ventilator industry in the country, both invasive and non-invasive types, will support the import substitution program for medical devices," Agus said via a press release, Wednesday (15/6/2022). He added that various conducive policies and instruments in favor of the domestic medical device industry will continue to be provided by the government in the future. In addition, a number of strategic steps were also carried out, including accelerating efforts to increase the competence of human resources and creating product innovations.
Monday, 20 June 2022 02:34
Indonesia Pushes for Ventilator Import Substitution, Its Market Potential Reaches USD 5.79 Billion per year
