Will Indonesia's Health Tech Market Experience ~IDR5500 Bn by 2025? : Ken Research

 With the Indonesian population becoming more technologically savvy and shifting from conventional healthcare methods to contemporary health tech services, there is an expected upswing in the demand for health tech.

STORY OUTLINE

• Impressive user base of over 30 Mn monthly active users and network of 40,000 qualified doctors.
• Partnerships between domestic health tech platforms and healthcare professionals to ensure access to doctors through digital platforms.
• In Indonesia ~220 Mn individuals projected to rely on the public universal healthcare program provided by BPJS.
• Partnerships between health tech startups and a vast network of 20,000 doctors, 1,000 hospitals, and clinics.

In 2021, it was discovered that ~65% of participants allocated less than 100 thousand Indonesian rupiah towards digital health applications. With over ~30 Mn monthly active users and a network of over ~40,000 qualified doctors, the health-tech platform has established itself as the foremost telemedicine application in Indonesia.

1. Calling Doctors: Indonesia's Growing Need for Doctors

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Increasing demand for doctors and healthcare practitioners on platforms. More partnerships with doctors, rising budgets in hospitals, and entry of healthcare IT providers will drive the industry's revenue growth. To ensure access to doctors through platforms, domestic platforms are forming partnerships with a growing roster of healthcare professionals. Indonesia suffers from a significant shortage of doctors. Based on 2021 World Health Organization statistics, Indonesia's doctor-patient ratio stood at 2.1 doctors per 10,000 patients, significantly lower than the recommended 1:600 ratio.

2. Collaboration Roadmap: Partnering with Ecosystems for Long-Term Success?

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Roughly half of the Indonesian population, totaling ~220Mn individuals, is projected to rely on the public universal healthcare program provided by BPJS. The Indonesia Health Tech Market is the sum total of revenue of E-pharmacy, Appointment booking platforms, tele-medicine platforms and IT solution providers for healthcare.Indonesia health Tech projects will involve collaboration with a network comprising 20,000 doctors, along with 1,000 hospitals and clinics.

3. Indonesia's Health Tech Titans in Action

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The bankruptcy of Proteus Digital Health, previously valued at $1.5 Bn, serves as a wake-up call for aspiring digital health unicorns. digital-first players like Halodoc and Alodokter have been scaling up tech platforms to offer a growing portfolio of digital health services. In 2019, health data in Indonesia reached a reported value of ~120,100 Tn IDR, demonstrating an increase from the previous figure of ~111,000 Tn IDR in 2018. The government's health budget is regularly updated on an annual basis, with an average of 40,000 Tn IDR from December 2005 to 2019.

According to Ken Research, Indonesia's health-tech industry has witnessed significant growth and has established itself as a leading telemedicine application with a large user base and a network of qualified doctors. Partnerships with healthcare professionals and collaborations with the public healthcare program have contributed to its success.

Watson vs. Boots: Battling for Dominance in Thailand's Pharmacy Market: Ken Research

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Intense Competition Ignites Growth Stage in Thailand's Pharmacy Market as Watson and Boots Vie for Dominance. The market witnesses a surge in competition among retail pharmacies, characterized by extensive product offerings and value-added services.

STORY OUTLINE

• Watsons and Boots are major contenders in Thailand's fragmented pharmacy market, which houses over 12,000 pharmacies.
• Watsons, with a 176-year history, has a global presence with 6,200 locations across 11 countries.
• Boots, in a competitive move, aims to launch 30 new outlets and enhance its popular Botanic line through a revamp.
• According to Ken Research, In terms of financial performance, Watsons outshines Boots in Thailand.

Watson and Boots emerge as major contenders in Thailand's pharmacy market, which is currently characterized by significant fragmentation, housing over 12,000 pharmacies. Central Watson Co, the operator of Watsons specialty stores in Thailand, has allocated THB350 Mn to expand its presence with the opening of 50 new stores, store renovations, brand building, and customer relationship management. In a competitive move, Boots Retail (Thailand) Co, an archival, plans to launch 30 new outlets this year and enhance its popular Botanic line through a revamp.

1. From Humble Beginnings to Global Powerhouse

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Watsons, founded in Hong Kong 176 years ago, quickly emerged as a leading health and beauty retailer in Asia and Europe. Today, it boasts a staggering 6,200 locations across 11 countries, making it a powerhouse in the industry. On the other hand, Boots, with a history dating back 168 years in England, started as an herbal pharmacy and has diversified into various sectors over the years, including home furnishing and dentistry. However, it operates fewer branches globally, with around 3,117 stores in six countries.

2. Watsons vs. Boots in Thailand: 500+ Branches, One Clear Winner!

In Thailand, Watsons entered the scene 27 years ago, opening its first branch in the Maneeya Center. Since then, it has rapidly expanded its footprint and currently operates an impressive 500+ branches across the country. In comparison, Boots arrived in Thailand a year later, establishing its first outlet in 1997. While still a strong contender, it operates 300+ branches in Thailand, placing it behind Watsons in terms of market presence.

3. Boots vs. Watson: A Tale of Financial Contrasts!

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When it comes to financial performance in Thailand, Watsons' figures speak for themselves. In 2019, Central Watson Company Limited, a subsidiary under the CK Hutchison Holdings Limited, reported a remarkable total revenue of ~$580 million. Meanwhile, Boots Retail (Thailand) Co., Ltd, a subsidiary of Walgreens Boots Allianz, recorded a total revenue of ~$240 million during the same period. These numbers clearly indicate Watsons' significant edge in terms of turnover in the Thai market.

Watsons and Boots have established themselves as major contenders in Thailand's pharmacy market. With Watsons' expansive global presence, boasting 6,200 locations across 11 countries, and its dominant market presence in Thailand with 500+ branches, it holds a significant advantage. Financially, Watsons also outshines Boots in terms of total revenue. As the competition continues to unfold, both companies are vying for market share and striving to meet the evolving needs of Thai consumers. With their respective strategies and brand offerings, they aim to capture the attention and loyalty of Thai consumers, further shaping the landscape of the pharmacy industry in the country.

In 2022, the number of vehicles funded rose to ~1,600 Th units. Will future growth of this number be supported by the Philippines Auto Loan Market? Ken Research

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1. The rising consumption, availability of auto loans and initiatives by automakers restored the market after Covid-19 pandemic.

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• The vehicle registration data reflect the overview of number of vehicles present in the market. Gradual increase in car parc size in industry can be attributed to the restoration of consumption and the initiatives of banks in providing consumer durable loans, post-covid.
• Launch of new models and initiatives to support electric vehicle adoption in Philippines by automakers stimulate the consumer interest in autos. Companies have started focusing on increasing the volume along with preserving the margin. Promos are focused on value enhancement than price.

Trends and Developments in Philippines Auto Finance Market

2. Introduction of Comprehensive Tax Reform

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• The passage of the Comprehensive Tax Reform Bill will adjust the excise tax on automobiles increasing their cost and makes motorcycles more affordable than cars.
• The Comprehensive Tax Reform Program will help the economy grow by 3% by 2022. GDP will be boosted as a result of higher household consumption due to lower income tax and the cash transfers. Increased economic activity will be buoyed by increased household consumption and higher investments.
• The motor vehicle users charge (MVUC) or Package 1C of the Comprehensive Tax Reform Program was introduced to provide adequate funding for the maintenance of national and provincial roads. It also aims to address air pollution from motor vehicles.

3. Major Partnerships of Auto Finance Players

• Lazada sellers can avail of SB Finance’s multi-purpose loans through a hassle-free application and a low interest rate of 1.8%. Sellers may avail of up to 12-month payment schemes and can expect funds to be credited within 3 banking days.
• Security Bank Corporation’s consumer finance arm SBF has partnered with Grab Philippines to offer personal loans to Grab users, driver-partners, and merchant-partners through the Grab super app.
• SB Rental Corp. is in a partnership with Cats motors inc., the principal dealer of Mercedes Benz locally to offer operating lease options for the acquisition and use of Mercedes Benz vehicles.
• The partnership, which started in 2016, began with global bank MUFG acquiring a 20% stake in Security Bank for PHP 36.9 Bn. Since then, the two lenders have capitalized on its partnership by bringing top-notch products and services to customers.

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Philippines Auto Finance Market

India's Rental Two-Wheeler Industry Set to Double in Size: Ken Research

 The Indian two-wheeler rental market, valued at USD ~38 Mn in 2021, is set to grow rapidly due to factors like tourism, urbanization, digitalization, migration, micro-mobility, traffic congestion, and cost-effective alternatives to owning and maintaining two-wheelers.

STORY OUTLINE

• The Indian rental two-wheeler market is experiencing significant growth due to increasing tourism, urbanization, digitalization, migration, micro-mobility trends, traffic congestion, and cost-efficient alternatives to owning two-wheelers.
• Electrification is driving demand in the rental industry, with e-vehicles being actively incorporated. Adoption rates for electric two-wheelers have risen in leading states like Goa, Kerala, Karnataka, and Maharashtra surpassing the national average.
• The market is highly fragmented, with approximately 15,000 unorganized companies in 2020. Intense competition among organized players has led to a pricing war, resulting in negative margins and high burn rates.
• Key players such as Bounce, Yulu, Vogo, and Drivezy are strategically focusing on scooters to reduce capital expenditure and increase profitability in the rental two-wheeler market.
• Ken Research reports that ~70% of rental two-wheeler bookings are made by males, who exhibit a neutral preference between renting commuter bikes (with higher mileage and lower prices) and scooters.

The Indian rental two-wheeler market is experiencing significant growth due to factors such as increasing tourism, urbanization, digitalization, migration, micro-mobility trends, traffic congestion, and cost-efficient alternatives to owning and maintaining two-wheelers. rapid urbanization in India has resulted in increased transportation needs. Renting two-wheelers offers a cost-effective and efficient solution for short-distance commuting within cities. Currently, there are approximately 30 organized players in the Indian rental two-wheeler industry. These companies are strategically targeting specific geographical areas and diversifying their services and vehicle offerings to cater to the rental market.

1. Electrification Drive: E-Vehicle Entry Accelerates Demand in the Rental Industry

Electric Vehicles Catching up the Demand

E-Vehicle Entry Sparks Electrification Drive. India's electric two-wheeler market is growing steadily, with adoption rates rising to 5.63% in May 2023 from 4.05% in 2022. Leading states like Goa, Kerala, Karnataka, and Maharashtra have surpassed the national average. With a goal of 80% EV penetration by 2030, the rental industry is actively incorporating e-vehicles, accelerating demand and driving the electrification wave. Up to 392,681 of the 6.98 million two-wheelers sold in India this year till May 31 were electric.

2. Freedom on Two Wheels: Increasing Demand for Motorcycle Rentals in Tourist Spots

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Due to the advantages of personalized and affordable transportation, domestic tourists in India are increasingly opting for two-wheelers. In the fiscal year 2020, there were ~10.2 million foreign tourist arrivals in India, along with a staggering ~2 billion domestic tourist visits to various states. Youngsters in particular are showing a growing interest in road trips and adventure tourism, exploring destinations such as Leh & Ladakh, Manali, Udaipur, Bhutan, and Goa. It is worth noting that India has a youthful population, with over 50% below the age of 25 and more than 65% below the age of 35. This demographic, coupled with a burgeoning entrepreneurial culture, has significantly contributed to the rise of shared mobility solutions.

3. Race to the Top: Competitive Landscape Heats Up in the Two-Wheeler Rental Sector

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The market is characterized by fragmentation, with a relaxed regulatory environment and a limited presence of organized companies. In the fiscal year 2020, there were approximately 15,000 unorganized companies operating in the market, collectively capturing around 25% of the market share in terms of Gross Transaction Value. The competition among organized players is intense, leading to a pricing war for various models, ultimately resulting in negative margins and a high burn rate. Key companies like Bounce, Yulu, Vogo, and Drivezy are strategically focusing on scooters as a means to reduce overall capital expenditure and increase profitability.

The Indian rental two-wheeler market is experiencing substantial growth due to factors like increasing tourism, urbanization, and the need for cost-effective transportation. With approximately 30 organized players, the market is diversifying to cater to specific regions and incorporating electric vehicles. Motorcycle rentals are popular among domestic tourists, but intense competition and fragmentation persist. Opportunities exist for innovative strategies in this evolving landscape.

Banking on Dreams: More than 28,000 Number of Residential Real Estate Loans Fuelling New Housing Units in the Philippines in 2022. Will Philippines continue this growth trajectory? Ken Research

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1. Philippines' Real Estate Market Soars: Property Prices Reach New Heights

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Property values in the Philippines are rising remarkably, with a sizable increase observed throughout the real estate sector. Property prices have reached unheard-of heights as demand for homes and investment options rises steadily, showing a robust and vibrant market in the nation.

• After rising by 6% YoY the previous quarter, Philippine home prices increased by 6.5% YoY in September 2022.
• Data on year-over-year growth is provided from Mar 2015 through Sep 2022 and is updated quarterly with an average growth rate of 3.9%.
• Data on home prices peaked at 26.6% in June 2020 and fell to a record-low -9.4% in June 2021.

Dive into the Reports Uncovering the Dynamics of the Philippines Home Finance Industry

2. Unlocking the Potential: Exploring the Booming Home Finance Industry Driven by Pent-Up Demand for houses in the Philippines

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Nowhere are the effects of the Philippines’ sustained economic growth more apparent than in the construction industry, which is benefitting from pent-up demand and a positive outlook for future growth. This favourable momentum has driven the industry to one of the country’s highest growth rates, with data from the Philippine Statistics Authority (PSA) reporting growth of 11% in 2014, 10.4% in 2015 and a jump to 14.6% in 2016.

As a result, the construction industry’s economic contribution has increased from P802.9bn ($17 Bn) in 2014 – worth 6.3% of national GDP – to P1trn ($21.5 Bn) in 2016, comprising 7% of GDP.

Learn more about the rising boom in for home demands in Philippines

3. When it comes to home loans, the first thing that comes to mind is the Pag-IBIG Fund

When it comes to home loans, the first thing that comes to mind is the Pag-IBIG Fund. A strong testament to that is its ₱100.08 Bn worth of home releases in 2021. It seems the momentum continues, as the state-run home development mutual fund projects will reach ₱105 Bn by the end of 2022.

Without a doubt, many Filipinos choose Pag-IBIG to finance their dream home. However, banks also offer home loans with competitive rates and flexible terms. The number of choices can be overwhelming, some of which are RCBC, Union bank, Security Bank Housing loans, AUB bank, China bank home plus, HSCBC Home Loan, Maybank and PNB etc.

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Philippines Home Finance Market

Smart Logistics-Smarter India: Exploring the Potential of the New Gen Market: Ken Research

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India, the world's 5th largest economy, holds the 44th position on the Logistics Performance Index, achieving a score of 3.18. India's Union Budget 2023 has brought with it a number of opportunities and challenges for the logistics sector.

STORY OUTLINE

• Indian government's initiatives aim to revolutionize the logistics sector, including a Logistics Master Plan, National Logistics Policy, and PM Gati Shakti initiative.
• Emphasis on infrastructure development through programs like GatiShakti, Bharatmala, and Sagarmala, to enhance transportation and logistics operations.
• Technology-driven solutions like blockchain, big data, and digital twins are being adopted to improve transparency, efficiency, and goods movement.
• Efforts to attract private investments in the logistics sector, supported by administrative reforms and the ambitious National Infrastructure Pipeline.
• Focus on strengthening international connectivity through coastal shipping, fostering enhanced relations with Southeast Asian nations.

The announcement of India's Union Budget for 2023 has stirred the logistics sector, triggering a response to the fresh opportunities and challenges it brings forth. India's logistics costs have reduced than those of developed countries by a staggering ~40%. After China, the United States, and Russia, India holds the 4th position globally in terms of railway freight traffic. The government's initiative to connect the National Capital Region (NCR) with the Eastern and North Eastern states through coastal shipping and is fostering enhanced international relations with Southeast Asian nations.

1. Logistics Revolution: Government's Bold Steps to Drive Sector Growth

Government's Bold Initiatives to Drive Sector Growth Today

Cutting down domestic income tax rates from 30% to 22% aims to stimulate business growth for domestic companies. The government has taken multiple initiatives to enhance the logistics sector, including the implementation of a Logistics Master Plan, the formulation of a National Logistics Policy, the establishment of National Multimodal Facilities and Warehousing, and the introduction of the National Logistics Workforce Strategy. The government has rolled out a national logistics policy and PM Gati Shakti initiative to boost the competitiveness of the industry and cut logistics costs.

2. Logistics in the Limelight: The Budget's Strategic Investments Unveiled

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Budgetary provisions encompass a range of measures aimed at invigorating the economy and generating employment opportunities. Notably, there is a strong emphasis on infrastructure development, which is poised to yield substantial benefits for the logistics sector. The Indian freight transportation industry is experiencing rapid growth to meet the demands of an increasing consumer base. According to NITI Ayog, India currently transports a staggering 4.6 Bn tonnes of freight each year, resulting in a transport demand of 2.2 Tn tonne-kilometres and an expenditure of Rs 9.5 lakh crore.

3. Tech-Forward Transformation

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Global supply chain disruptions and sustainability concerns drive widespread adoption of technology-driven solutions like blockchain, big data, cloud computing, and digital twins. Although India's adoption is relatively low, the government introduces digital solutions like ICEGATE and E-Logs, enhancing transparency, efficiency, and expediting goods movement.

4. Attracting Investments: Infrastructure the Key to Unlocking Opportunities

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The Government of India launches infrastructure programs like GatiShakti, Bharatmala, and Sagarmala, focusing on roads, railways, and ports. Administrative reforms and private investments support these initiatives. The ambitious National Infrastructure Pipeline targets INR ~50 lakh crore investments. While 100% FDI is permitted in most transport infrastructure, concerted efforts are essential to maximize its impact and realize the desired outcomes in fast-tracking infrastructure development.

India's Union Budget for 2023 ushers in a logistics revolution with bold steps to enhance the sector's growth. Infrastructure development, tech-forward transformations, attracting investments, and fostering international relations are key highlights, poised to reshape India's logistics landscape and drive economic progress.

Learning Beyond Books: India's Experiential Learning Market Redefines Education: Ken Research

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Experiential learning solutions in India hold immense potential as they cater to a vast market of ~200 Mn children. The industry is projected to experience a remarkable growth of over three times its current size in the future.

STORY OUTLINE

• The e-learning industry in India has experienced 60x growth, with a remarkable increase in the number of subscribers from 2015 to 2020.
• Technology is reshaping education by enabling interactive and hybrid learning approaches, enhancing classroom engagement.
• The Indian government is actively promoting online learning through various initiatives, integrating digital pedagogy into the long-term education strategy.
• Government initiatives like DIKSHA, PM eVIDYA, SWAYAM, and National Education Policy 2020 are driving the growth of online education in India.
• Enterprises like Byju's and Adda247 are forging partnerships and making acquisitions to stay competitive and enhance infrastructure, expanding access to quality education.

While e-learning had been growing rapidly in recent years, India is now witnessing an e-learning boom since the pandemic emerged. The e-learning experience so far has thrown up some issues and directions for the future of online education. The industry experienced a remarkable growth of 60 times in the number of subscribers from year 2015 to 2020. The Indian government envisions and is actively shaping the Education sector with a long-term strategy that integrates digital pedagogy to promote E-learning.

1. How Technology is Reshaping Education?

Discover The Transformation of Experiential Learning

Educators Embrace Interactive Tech and Hybrid Education for Engaging Classroom Experiences. Experimental Learning provides learners with an opportunity to delve into a diverse range of technological devices. Over 50% of students reported that the learning technologies utilized in classrooms during the COVID-19 period have enhanced their learning experience and academic performance. Here are five eLearning technologies that elevate the field: Artificial Intelligence, Predictive Learning Analytics, Cloud Services, Crowdsourcing, and Virtual Reality.

2. Empowering Education: Government's Initiatives to Boost Online Learning

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The Indian government envisions and molds e-learning with digital pedagogy as a long-term strategy in the education sector. In the past decade, numerous initiatives have been implemented to bolster India's digital ecosystem, effectively serving as a catalyst for the Edtech sector. The notable initiatives are outlined as follows: DIKSHA (Digital Infrastructure for Knowledge Sharing), PM eVIDYA, SWAYAM, SWAYAM PRABHA, E-Pathsala, NISHTHA, National Education Policy 2020. The Union Budget 2022-23 has given a major push to the education sector with a total allocation of Rs 1,04,278 crore, which is an increase of nearly 12% over the previous year.

3. Game-Changers:  Players Redefining the Game

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Enterprises Forging Fresh Partnerships to Outpace the Competition. For instance: In April 2021, Byju's invested around $1 Bn to acquire Aakash, enhancing infrastructure and expanding access to quality test-prep education nationwide. Adda247, supported by Google, has purchased Veeksha, a 3D experiential learning platform based in Ahmedabad, to enhance AR/VR capabilities and deliver superior learning experiences to students. Partnerships and acquisitions by Byju's and Adda247 enhance infrastructure, expand access, and foster experiential learning through immersive experiences.

Technology is fundamentally transforming education, empowering learners and educators with interactive tools. Government initiatives and strategic partnerships are driving accessibility and immersive learning experiences, revolutionizing the future of education. This shift is creating a more inclusive, engaging, and adaptable learning environment for students of all backgrounds.

2025 Vision: Taiwan's Pharmacy Market Skyrockets to USD 4.6 Bn: Ken Research

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The Taiwan pharmaceutical market is projected to reach $4.6 Bn by 2025. Unlike neighbouring countries like Japan and China, the presence of pharmacy chains in Taiwan is comparatively lower.

STORY OUTLINE

• The pharmacy market in Taiwan has grown by ~2.5% in recent years, with an increasing emphasis on the utilization of Western medicine.

• In 2019, Taiwan had 8,129 pharmacy retailers, adopting various models to enhance convenience and expand product offerings.

• Competition in Taiwan's pharmaceutical sector is intense, with organized chains contributing around 35% of revenue.

• According to Ken Research, the top three pharmacy chains in terms of revenue are Great Tree Pharmacy, Med first, and TinTin Drugstore, collectively holding a market share of around 13%.

• The pharmacy market in Taiwan has witnessed significant growth of ~2.5 % in recent years. The utilization of Western medicine is on the rise in Taiwan, with a growing emphasis on its usage. This is reflected in the expenditure on pharmaceutical products as a percentage of the GDP, which witnessed a slight increase from ~1.10% in 2014 to ~1.15% in 2018. Taiwan's pharmacy market continues to evolve, meeting the diverse healthcare needs of its population.
• Taiwan's pharmaceutical industry encompasses four distinct sub-sectors: Active Pharmaceutical Ingredients (APIs), Western medicine, Traditional Chinese Medicine (TCM), and biologics. Taiwanese biopharmaceutical companies have formed alliances with contract research organizations and multinational pharmaceutical companies in order to enhance clinical investments within Taiwan.
• In 2019, Taiwan was home to a remarkable count of 8,129 pharmacy retailers, each operating within the country's borders. These pharmacies are actively embracing various models to enhance customer convenience, while also expanding their product offerings to cater to a wider range of consumer needs.

Explore Technological Integration

Taiwan's population trends are changing as the fertility rate is shrinking (1.06 births per women as of 2018) and life expectancy is increasing. The population growth in 2019 was ~0.1% down from an average of ~1.5% during the 1980s. This has resulted with the population starting to decline as of 2020. Out of total population, 65 years and older people accounted for ~15% of the population in 2019. It is estimated this will exceed to more than 20% till 2025. As per the NHIA data the cost on healthcare increases with the increase in age. Thus, it will benefit the market in the future.

As the elderly population continues to grow, there will be an increasing demand for healthcare services and products in Taiwan. This trend presents opportunities for market growth and development in the healthcare sector, providing potential benefits for various stakeholders. Intense Competition in Taiwan's Pharmaceutical Sector, in 2019, ~35% of the total revenue in the pharmaceutical sector came from Organized Chains, while the remaining ~65% was contributed by Unorganized Pharmacies.

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Among the pharmacy chains, Great Tree Pharmacy, Med first, and TinTin Drugstore emerged as the top three in terms of revenue, collectively holding a market share of around 13%. On the other hand, based on the number of stores, Med first, Great Tree, and Your Chance took the lead, accounting for ~6% of the market share.

In conclusion, Taiwan's pharmacy market has experienced significant growth, driven by the rising utilization of Western medicine and evolving healthcare needs. The industry encompasses diverse sub-sectors and has witnessed alliances with global players to boost investments. With a changing population demographic and intense competition, opportunities arise for healthcare services and products, paving the way for market development and stakeholder benefits.

USA EV and EV Charging Equipment Market Set to Cross USD 250 Bn by 2027 with the help of IRS Code and rental services: Will EVs overtake gas-powered cars in the future?: Ken Research

 The US has a vision of building a national network of 500,000 EV chargers along USA’s highways and communities and have EVs make up at least 50% of new car

The EV & EV Charging Equipment Market in USA is highly consolidated with highly competitive rivalry among the competitors. Some of the popular EV brands like Tesla and Wall Box compete on the basis of Product Range, Pricing, No of Charging Services, efficiency of Services.

USA Electric Vehicle Supply Equipment Division

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1. Exploring Tax Incentives: The IRS Code's Credits and Rebates for Electric Vehicles and Alternative Fuel Infrastructure.

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2. Growth Opportunities for the 4-Wheeler EV Market in the USA through Increased Public Awareness and Local Manufacturer Entry.

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USA EV & EV Charging Equipment Market Outlook to 2027

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Netherlands EV Charging Equipment Market Outlook to 2027

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Will Indonesia's Health Tech Market Experience ~IDR5500 Bn by 2025? : Ken Research

 With the Indonesian population becoming more technologically savvy and shifting from conventional healthcare methods to contemporary health tech services, there is an expected upswing in the demand for health tech in Indonesia.

STORY OUTLINE

• Impressive user base of over 30 Mn monthly active users and network of 40,000 qualified doctors.
• partnerships between domestic health tech platforms and healthcare professionals to ensure access to doctors through digital platforms.
• In Indonesia ~220 Mn individuals projected to rely on the public universal healthcare program provided by BPJS.
• Partnerships between health tech startups and a vast network of 20,000 doctors, 1,000 hospitals, and clinics.
• In 2021, it was discovered that ~65% of participants allocated less than 100 thousand Indonesian rupiah towards digital health applications. With over ~30 Mn monthly active users and a network of over ~40,000 qualified doctors, the health-tech platform has established itself as the foremost telemedicine application in Indonesia.
• Calling Doctors: Indonesia's Growing Need for Doctors

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Increasing demand for doctors and healthcare practitioners on platforms. More partnerships with doctors, rising budgets in hospitals, and entry of healthcare IT providers will drive the industry's revenue growth. To ensure access to doctors through platforms, domestic platforms are forming partnerships with a growing roster of healthcare professionals. Indonesia suffers from a significant shortage of doctors. Based on 2021 World Health Organization statistics, Indonesia's doctor-patient ratio stood at 2.1 doctors per 10,000 patients, significantly lower than the recommended 1:600 ratio.

1. Collaboration Roadmap: Partnering with Ecosystems for Long-Term Success?

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Roughly half of the Indonesian population, totaling ~220Mn individuals, is projected to rely on the public universal healthcare program provided by BPJS. The Indonesia Health Tech Market is the sum total of revenue of E-pharmacy, Appointment booking platforms, tele-medicine platforms and IT solution providers for healthcare.​Indonesia health Tech projects will involve collaboration with a network comprising 20,000 doctors, along with 1,000 hospitals and clinics.

2. Indonesia's Health Tech Titans in Action

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The bankruptcy of Proteus Digital Health, previously valued at $1.5 Bn, serves as a wake-up call for aspiring digital health unicorns. digital-first players like Halodoc and Alodokter have been scaling up tech platforms to offer a growing portfolio of digital health services. In 2019, health data in Indonesia reached a reported value of ~120,100 Tn IDR, demonstrating an increase from the previous figure of ~111,000 Tn IDR in 2018. The government's health budget is regularly updated on an annual basis, with an average of 40,000 Tn IDR from December 2005 to 2019.

According to Ken Research, Indonesia's health-tech industry has witnessed significant growth and has established itself as a leading telemedicine application with a large user base and a network of qualified doctors. Partnerships with healthcare professionals and collaborations with the public healthcare program have contributed to its success.