India Medical Device Market is Driven by Rising Investment in Healthcare, Increasing Number of Chronic Diseases Patients and Growth in Elderly Population: Ken Research

“Rising importance of affordable healthcare facilities and growth in number of chronic disease patients in the country has driven the medical device sector in India”.

Analysts at Ken Research in their latest publication “India Medical Device Market Outlook to 2023 - by IVD Market (Type of Device, Sales Channel, Domestic Manufacturing and Import), by Diagnostic Imaging Market (Type of Device, Domestic Manufacturing and Import) and by Patient Aid Market (Orthopedic Device, Hospital Furniture and Hearing Aid)” believe that the medical device market in India has been increasing due to rising healthcare expenditure, increase in number of healthcare establishments and increasing penetration of medical insurance in the country. The market is expected to register a positive CAGR of 10.8% in terms of revenue during the forecast period 2018-2023E.

Rise in Chronic Diseases and Lifestyle Changes: Lifestyle related changes have resulted in growing number of patients with cardiac disorders and life threatening disease such as cancer. This has led to positive growth in medical device sectors such as diagnostic imaging as more number of Cath labs and nuclear medicine screening facilities has to be established for proper diagnosis of patients in order to provide customized solutions. This in turn has led to healthy growth for medical device sector in recent years.

Growing Healthcare Expenditure: The public healthcare expenditure stood at INR 213,719.6 Crore in FY’2018. The government of India has been taking regular initiatives to increase this expenditure to level of 2.5% of country’s GDP by 2025 in regards to its National Health Policy. Increase in healthcare expenditure has led to successive Greenfield and Brownfield growth in hospital sector. Consequentially, this has led to increase in revenue of the medical device industry as new capital systems, upgraded with latest technology are installed at various healthcare facilities.

Growing Orthopedic and Auditory Loss Population: Rising elderly population has led to higher demand for implants and hearing aids. Also, with new technologies being introduced in Orthobiologics and sports medicine and rising demand for personalized cure, vendors in the industry have started achieving greater revenue in recent years. Also, factors such as increase in number of road accidents and rising number of people suffering with auditory loss has augmented the demand of varied medical devices in the country.

Key Segments Covered:-

IVD Device Market:

By Business Activity (Import and Domestic Manufacturing)

By Sales Channel (Distributor and Direct Sales)

By Type of Device (POCT, Immunochemistry, Biochemistry, Hematology, Molecular Diagnostics, Microbiology, Coagulation, Urinalysis and Others)

By Type of POCT (Blood Glucose Testing Kit, Infectious Disease Testing Kit, Blood Gas Electrolytes, Pregnancy and Fertility Testing Kit, Cardio Metabolic Monitoring, Anticoagulant Management), Cholesterol Testing Kit and Others)

By Immunochemistry Reagent and Instrument

By Biochemistry Reagent and Instrument

By Hematology Reagent and Instrument

By Molecular Diagnostics Reagent and Instrument

By Microbiology Reagent and Instrument

By Urinalysis Reagent and Instrument

By Coagulation Reagent and Instrument

Diagnostic Imaging Market:

By Business Activity (Import and Domestic Manufacturing)

By Type of Device (MRI, CT, Ultrasound, X-Ray, Cath Lab and Nuclear Medicine)

By MRI Device (1.5T, 3.0T, 0.2-0.5T)

By CT Scan (16Slice, 64-128 Slice, <16 Slice and >128 Slice)

By X-Ray (CR, DR and Analog)

By Cath Lab (Flat Panel Digital, Biplane and Mobile)

By Nuclear Medicine (PET Scanner, SPECT and Cyclotron)

Patient Aid Market:

By Type of Device (Orthopedic, Hospital Furniture and Hearing Aid)

By Orthopedic Devices

By Business Activity (Import and Domestic Manufacturing)

By Type of Device (Joint, Trauma, Sports Medicine, Spine and Orthobiologics)

By Hospital Furniture

By Type of Device (Hospital Bed, OT Table and OT Light)

By Type of Hospital Bed (Manual and Motorized)

By Type of OT Table (Imported and Indian)

By Type of OT Light (Imported and Indian)

By Hearing Aids

By Business Activity (Import and Domestic Manufacturing)

By Type of Device (Over the Ear and Inside the Ear)

By Sales Channel (Dealer, Retail and Digital Marketing)

Key Target Audience:-

IVD Device Manufacturers

IVD Reagent Manufacturers

IVD Device Importers

Government Agencies

Orthopedic Device Companies

Hearing Aid Companies

Hospital Furniture Manufacturers

Diagnostic Imaging Device Companies

Time Period Captured in the Report:-

Historical Period: FY’2013- FY’2018

Forecast Period: FY’2019E – FY’2023E

Companies Covered:-

IVD Devices:-

Roche Diagnostics

Transasia Biomedical

Beckman Coulter

Biomerieux

Diagnostic Imaging:

Wipro GE Healthcare

Siemens Healthcare

Philips India

Patient Aid:

J&J

Zimmer Biomet

Smith and Nephew

Arthrex

Stryker

Medtronic

Widex Sivantos Audiology

Starkey Laboratories

GN Hearing

Sonova

For more information on the research report, refer to below link:-

India Medical Device Market

Related Reports:-

Philippines Medical Devices Market Outlook to 2023 - Surge in Demand for Used/Refurbished Medical Equipments and New Healthcare Infrastructure Projects to Maintain Healthy Growth

India POCT Market Outlook to 2023 - By Major Devices (Blood Glucose Testing Kits, Infectious Disease Testing Kits, Blood Gas Electrolytes, Pregnancy and Fertility Testing Kits, Cardio Metabolic Monitoring, Anticoagulant Management, Cholesterol Testing Kits and Others), By End Users (Hospitals & Clinics, Consumers/ Individuals, Diagnostic Labs, Home Healthcare and Others), By Distribution Channel (Distributors and Direct Sales), By Consumables and Instruments and By Region

India Medical Consumables Market Outlook to 2023 – Driven by Surge in adoption of Innovative Medical consumable products coupled with Rising Outpatient Revenue

Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249

Indonesia Remittance Market Analysis and Forecast: Ken Research

Buy Now

How Remittance Market Is Positioned In Indonesia?

Indonesia Remittance Market: - The Indonesia economy was recorded as the 16th largest economy in the world by nominal GDP as of 2018 and has been one of the most emerging market economies in the world. The economy of Indonesia grew by ~% in 2018, meeting the estimation of the government of Indonesia of ~% in 2018. The total population in Indonesia was recorded at ~ million in 2018, growing by ~% from ~ million in 2017. Majority of populations resides in a few island/regions of the country such as Jakarta Region, Java Regions with a majority of the Muslim population of approximately ~% in 2018. Jakarta, the capital, and the urban sprawl that surrounds it has a population of more than ~ million as of 2016 and is one of the largest cities in the country. This interregional and intraregional migration has increased domestic remittance in Indonesia.

According to the estimates, Indonesian overseas workers accounted for almost ~% of Indonesia labor force in 2016, whereas this number of ~ million would be an underestimate as many of the workers are going out of the country through unauthorized channels. The majority of overseas workers are employed as domestic workers followed by caregivers, operators and plantation workers. In 2017, remittance contributed to ~% of the country’s GDP. Mostly, this remittance is coming from countries such as GCC countries, ASEAN countries and Asia countries other than ASEAN countries. Also, Indonesia has seen large scale interregional and intraregional migration to popular cities including Jakarta, Surabaya and Java Region. There has been interregional and intraregional migration from areas such as Sumatra Regions, Yogyakarta, and others.

How does a domestic remittance market operate in Indonesia?

The domestic remittance market of Indonesia witnessed a surge in growth rate in the past few years. The rising internal migrant population both intraregional and interregional owing to better job opportunities has triggered the size of the industry. Internal immigrant population was evaluated at 9.8 million which accounted for temporary internal migrants in 2015. During the period, 2013-2018, the domestic remittance market has displayed a remarkable growth at a CAGR of ~% in terms of transaction volume generated from personal remittance within the country. The domestic remittance market in Indonesia rose from USD ~ million in the year 2013 to USD ~ million in the year 2018.

The total number of domestic money transactions in the country has increased from ~ million in 2013 to ~ million in 2018 as a result of an increase in the urbanization populations looking for better jobs in major cities in the country. The non-banking institutions in the country have expanded their business line by offering customers a wide range of services such as low transaction fees, end to end assistance and less paperwork. Moreover, the non-banking institutions have targeted the unbanked population by offering them door to door pickup and delivery services thus increasing the domestic remittance market in 2018.

What Major Types Of Transfer Channels In Indonesia Domestic Remittance Market?

The share of the banking channel was highest in 2013, which was ~% and has been declining gradually ever since except for in 2015, in terms of Number of Transactions. Although it has been the lowest in 2018, it has been one of the most popular channels of remitting money in and out of the country, with the total number of transactions being ~ million in 2018, equivalent to a market share of ~% in 2018. In terms of Volume of Transactions, Banks have held the majority of the market share with ~% in 2013, though this has been declining over the years with the market share in 2018 being ~%. The share of the non-banks has been recorded to be increasing since 2013, from ~% in 2013 to a record high of ~% in 2018, in terms of volume of transactions. The lowest percentage share has been recorded in the year 2013, 2015 and 2016. MTOs have not been dominating the market, but have been capturing more and more market share ever since their introduction in the Domestic remittance market. The volume of transactions has increased almost threefold, from ~ million in 2013 to ~million in 2018.

What Is The Competition Scenario Of the Indonesian Domestic Remittance Market?

Indonesia's domestic remittance market is moderately concentrated with the presence of multiple players including money transfer operators, banks, M-wallets and postal networks. Among the banks that are operating in the domestic market, Bank Mandiri and Bank Central Asia hold approximately ~% of the market in terms of volume of transactions carried via banks in 2018. The Bank Mandiri holds the maximum share of the market in terms of volume of transactions, which is 37.0%, in 2018. In Indonesia, the choice of the channel varies with the type of remittance i.e. whether it is domestic or international. The domestic remittance market is dominated by banks, controlling ~% of the market in terms of volume of transactions, as customers prefer banks owing to their wider accessibility and security, with experience in the domestic market.

What Is The Future Outlook For the Indonesian Domestic Remittance Market?

The continuous growth in internal population mobilization has been a major factor in increasing the domestic remittance market. Over the years, mobilization of the population to the regions with high employment opportunities from ~% in 2010 to ~% in 2018 is expected to increase further in the forecasted period. During the forecast period of 2018-2023, the domestic remittance market is expected to grow at a CAGR of ~% from USD ~ million in 2018 to USD ~ million in 2023. Domestic remittance market is currently dominated by the banks in the country and a very low market share is held by the non-bank channels. As the pawnshops are increasingly putting the focus on the improvement and innovations in their service portfolio, the banks are also constantly putting efforts to launch new domestic remittance related products. This effort is expected to prove beneficial for the banks to increase their share in the market.

Indonesian government working all out to make Indonesia a business-friendly country by improving its rating from 91 to 72 in 2018 for ease of doing business according to the world bank.

Key Segments Covered:-

International Remittance Market

By Flow Type

Inbound

Outbound

By Channel

Bank

Non-Bank

By Major Flow Corridors

ASEAN

Asia Excluding ASEAN

Middle East

America

Europe

Australia & Oceania

Africa

By Income Level

Lower Level Income Group

Middle-Level Income Group

High-Level Income Group

Domestic Remittance Market

By Remittance Channels

Banks

Non Banks

By Major Flow Corridors

Urban to Rural Areas

Rural to Rural Areas

Urban to Urban Areas

By Income Level

Lower Level Income Group

Middle-Level Income Group

High-Level Income Group

Snapshot Bill Payment Market

By Type of Bills with Type of Families Spending

Very Conservative Family (Water, Electricity, Healthcare, Others)

Mediocre Family (Water, Electricity, Healthcare, Digital Products, Others)

Key Target Audience:-

Money Transfer Operators

Banks

Pawnshops

Bill Payment Companies

M-Wallets

Mobile Money Companies

Central Bank

Investors and PE Firms

Convenience Stores

Time Period Captured in the Report:-

Historical Period – 2013-2018

Forecast Period – 2018-2023

Companies Covered:-

Major Bank and Non- Bank Channels in Indonesia:-

Bank Mandiri

Bank Central Asia

Bank CIMB Niaga

Western Union

MoneyGram

Top Remit

OVO m-wallet

GoPay

Western Union

Key Topics Covered in the Report:-

Indonesia payment market

Indonesia Domestic Inbound Remittance Market

Indonesia International Outbound Remittance Market

Indonesia International Inbound Remittance Market

Cost of sending money from Europe to Indonesia

Indonesia Remittance Market Major Channels

Indonesia Bill Payments Market Share

Number of card and POS terminals in Indonesia

OVO Digital Payment Market in Indonesia

Cost of sending money from Africa to Indonesia

Indonesia Cashless Payments Market

Major Payment Gateways in Indonesia

Indonesia Mobile P2P Remittance Market

Indonesia Mobile Wallet and Payment Market

For Information Click On the Below Mentioned Link:-

Indonesia Domestic and International Remittance Market

Related Reports by Ken Research:-

Europe International Remittance Market Outlook to 2023 - By Inbound & Outbound Remittance, By Channels (Banks, MTOs, M-wallets and Others), By Inflow & Outflow Remittance Corridors, By Point of Contact (Branch Pick-up, Mobile Payment & Online Transactions, Prepaid Cards

Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249

Malaysia Used Vehicle Market Outlook to 2025: Ken Research

Buy Now

The report titled “Malaysia Used Vehicle Market Outlook to 2025 - By Type of Distribution Channel (Organized and Unorganized Dealers), By Mode of Selling (Online and Dealership Walk-Ins), By Type of Vehicle (Sedans, Hatchback, SUVs, MPVs, LCV and others), By Vehicle Age(0-3 years, 3-5 Years, 5-8 Years and More than 8 years), By Brand(Perodua, Toyota, Honda, Proton, Nissan and Others)” provides a comprehensive analysis of the Used Vehicle market in Malaysia. The report also covers the overview and genesis of the industry, Market size in terms of Gross Transaction Value, overall market size in terms of Volume, trends and developments, issues and challenges, regulations in Malaysia, snapshot on Malaysia used vehicle auto finance, business models, value chain analysis, SWOT analysis, Buying decision parameters, competitive scenario and company profiles. The report concludes with market projection and analyst recommendations highlighting the major opportunities and cautions.

Malaysia Used Vehicle Overview and Size

Malaysia Used Vehicle market in terms of sales volume has increased at a single digit CAGR over the review period 2013-2018. The market is gradually surging with high car ownership ratio, growing urban population, increasing average ticket size, faster vehicle replacement rate and increasing support of Malaysian government in terms of policy formulation and regulations. The market was observed to be at the late growth stage.

The buyers in Malaysia are highly price sensitive with depreciating currency over the years. Government norms with respect to EEVs and ELV policy will positively impact Used Vehicle Market in Malaysia. Malaysians prefer to buy a used motor vehicle as new ones are very expensive. For middle or lower income group people, used cars have become more popular choices. Malaysia Used to New vehicle ratio has been increasing over the years leading to growth in sales volume of used cars in Malaysia.

Malaysia Used Vehicle Market Segmentation

By Distribution Channel: In Malaysia, the used vehicle market is highly fragmented with close 5000 used vehicle dealers operating in the market in the year 2018. The Organized players are very less, whereas unorganized dealers in Malaysia are very large in number present in different locations in Malaysia. Malaysia Used Vehicle Market in terms sales volume was largely dominated by Unorganized Dealers. On the other hand, organized dealer’s sales accounted the reaming share in 2018.

By Organized Dealers: Multi Brand Dealership outlets are dominating in Malaysia Used Vehicle Market due to the large portfolio of vehicles provided with a huge space for negotiation on purchase.

By Mode of Selling: In Malaysia, selling and buying a used vehicle via online platform is the most convenient method for customers and dealers as sale of used vehicles via online platforms eliminates middlemen and its commission margin. Lower commission charged attracts major population to purchase used vehicles through online platform.

By Type of Vehicle: Sedans and SUVs are the dominating segments in body type of used vehicle. Sedans have high average car life and lies within the budget of Malaysians. Preference to buy new MPV and LCVs was the key factor for low demand in the used vehicle segment.

By Vehicle Age: 5-8 years of vehicle age accounted for highest market share due to the average replacement rate of 6 years in Malaysia. The market share is followed by 3-5 years of vehicle age as selling of vehicle during this period generates a high resale value.

By City: Kuala Lumpur and Selengor are dominating the used vehicle market in terms of sales volume largely due to the higher percentage of people that solely depends on the passenger cars and growing working population observed in Selengor during last five years.

By Price Range: The average ticket size of Malaysia used vehicle market is growing over the years. The price range of MYR 30,000 - MYR 50,000 accounted for highest percentage share due the replacement rate along with the depreciation charged over the years on new vehicles.

By Brand: Perodua dominated the sales volume of used vehicle in Malaysia. Domestically manufactured vehicle brand include Perodua and Proton and Japanese brands that include Toyota, Honda and Nissan are the most preferred brands in the used-vehicle market due to strong brand preference, reliability, longer life span, and higher retention value of the used vehicle.

Competitive Landscape

Used Vehicle Market in Malaysia is highly fragmented with presence of around 5,000 dealers across all the cities in Malaysia. Used car dealers in Malaysia compete on the basis of number of dealership outlets; value added services, quality checks performed, insurance and finances and portfolio of used cars at their dealership store. There are numerous players that are operating in Malaysia Used Vehicle Market. Organized dealers include Direct Dealership Sales Agents (Toyota TopMark, Perodua Pre-Owned and Mercedes Benz Premium Selection) and Multi Brand Dealership Outlets (Deluxe Car Trader, Yap’s Auto Car City, Public Auto World, Keong Heng and others). Major online players for used vehicle market in Malaysia are Mudah.my, Carlist.my, Motor Trader, We Motor, My Motor, Autocari and others.

Malaysia Used Vehicle Market Future Outlook

The Malaysia Used Vehicle market in terms of sales volume is expected to grow in the future at a single digit CAGR over the forecast period (2018-2025E). In Future, it is anticipated that used car sales volume will be fuelled by increasing government policies related to used cars such as EEV and ELV, growing urban population, increasing car replacement rate, increasing inspection checks and growing customer confidence. Gross Transaction Volume will significantly increase at a positive CAGR during the period 2018-2025E due to the increasing average ticket size of a used vehicle over the years.

Key Segments Covered

By Distribution Channel

Organized Dealers

Multi Brand Retailers

Direct Dealership Sales Agent

Unorganized Dealers

By Mode of Selling

Online

Dealership Walk-Ins

By Type of Vehicle

Sedans

Hatchback

4WD/SUVs

MPVs

LCV

Others

By Vehicle Age

0 – 3 Years

3 – 5 Years

5 – 8 Years

More than 8 Years

By City

Kuala Lumpur

Selengor

Johor

Perak

Others

By Price Range

MYR 0 – MYR 30,000

MYR 30,000 – MYR 50,000

MYR 50,000 – MYR 70,000

MYR 70,000 – MYR 90,000

More than MYR 90,000

By Brand

Perodua

Toyota

Honda

Proton

Nissan

Others

Key Target Audience

OEM’S Companies

Multi Brand Dealers

Captive Dealers

Venture Capitalist Firms

Government/ Regulatory Authorities

Online Auto-Classifieds

Time Period Captured in the Report:

Historical Period: 2013-2018

Forecast Period: 2019E-2025E

Companies Covered:

Major Online Players in Malaysia

Carlist

Mudah

Motor Trader

We Motor

MyMotor

Autocari

myTukar

CarlistBid

Major Captive Dealers:

Toyota TopMark

Perodua Pre-Owned

BMW Premium Selection

Multi-Brand Dealers

Public Auto World Enterprises

Keong Heng Auto

East 28 Motors

Puncak Auto Enterprises

Yap’s Auto Car City

ML Advance Auto Seller

Global Wheels Automotive

Key Topics Covered in the Report

Malaysia Used Vehicle Market Introduction (Overview, Genesis, Business Cycle)

Malaysia Used Vehicle Market Ecosystem

Malaysia Used Vehicle Market Business Model

Used Vehicle Market Size Malaysia

Malaysia Used Vehicle Auto Finance

Malaysia Used Vehicle Market Segmentation

Trends and Developments in Malaysia Used Vehicle Market

Issues and Challenges in Malaysia Used Vehicle Market

Malaysia Used Vehicle Market Regulations

SWOT Analysis Malaysia Used Vehicle

Buying Decision Parameters in Malaysia Used Vehicle Market

Malaysia Used Vehicle Market Competition Scenario

Malaysia Used Vehicle Market Future Projection, 2018-2025E

Future Outlook of Malaysia Used Vehicle Market Segmentations, 2018-2025E

Analyst Recommendations

For more information, refer to below link:

Malaysia Used Vehicle Market

Related Reports

China Used Vehicle Market Outlook to 2022 - by Type of Vehicle (Sedans, SUVs, Micro Vans, MPVs, Trucks, Buses, Cross Type Vehicles, Trailers, Motor Cycles and Low Speed Trucks), by Vehicle Age, by Distribution Channels, by Region, by Price of Vehicle

Indonesia Used Car Market Outlook to 2023 - Rising Popularity of Online Platforms and Reduction in Average Ownership Period to Drive Used Car Sales

UAE Used Car and Auto Classified Market Outlook to 2022 - By Revenue Streams (Commission, Paid Listings, Banner Advertisement), By Export and Domestic Sales

Contact Us:

Ken Research

Ankur Gupta, Head Marketing & Communications

sales@kenresearch.com

+91-9015378249