Binnopharm Group Enters the Indonesian Market
Binnopharm Group and Indonesian company Pyridam Farma signed an agreement to begin supplying collagen-based injectables to the Indonesian market.
The decision to enter the Indonesian market is based on the analysis of the growing aesthetic cosmetology market in the region. According to a report by Grand View Research, the size of the collagen products market in the Asia Pacific region constituted US$2.2 billion in 2023, accounting for a 36.7% share of the global market. It is expected that the market will continue to grow at the annual rate of 11% until 2030, making it an extremely attractive opportunity for launching innovative products.
«The signing of this supply agreement is the first step in expanding our presence in Indonesia, with several other projects already underway. Entering this market is a logical continuation of our active international expansion. Strategically, we view Southeast Asia and the Persian Gulf countries as key growth drivers outside Russia» noted Rustem Muratov, CEO of Binnopharm Group.
Binnopharm Group is a leader in deliveries to neighbouring countries and is also actively developing new markets, including the Middle East, China, and Southeast Asia. In 2023 the company successfully launched operations in China, creating a local structure there to work with its partners, and in 2025 Binnopharm opened representative offices in Vietnam.
