Vietnam Generic Drugs Market By Type (Small Molecule Generics v/s Biosimilars), By Mode of Drug Delivery (Oral, Topical, Parenteral, Others), By Form (Tablet, Capsule, Injection, Others), By Source (In House v/s Contract Manufacturing Organizations), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), By Application (Cardiovascular Diseases, Diabetes, Neurology, On
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Healthcare | Format: Report available in PDF / Excel Format
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Vietnam generic drugs market is anticipated to register growth with an impressive CAGR in the forecast period, 2023-2027, on the account of increasing demands for the affordable drugs. Increasing demand of over the counter drugs against branded drugs are further driving the growth of the Vietnam generic drugs market in the upcoming five years.
Increasing Healthcare Expenditure Drives Market Growth
Rapidly expanding pharmaceutical industry in the country is a major factor driving the growth of the Vietnam generic drugs market in the upcoming five years. Higher demand for pharmaceutical products increased the sales for generic drugs too and thus supporting market growth. Vietnam pharmaceutical sales in the year 2018 was valued at USD5.34 billion. Further advancing medicine, and demand for affordable pharmaceutical products would substantiate the growth of the Vietnam generic drugs market in the future five years.
Vietnam pharmaceutical industry is comparatively larger in terms of generic drugs over branded drugs. Due to stringent policies, and schemes, along with the enforcement of international patent law, branded drugs are limited for the sales in the country. Thus, to provide for the healthcare facilities, the country is dependent over sales of generic drugs that contain same active ingredient, and have passed same safety test, but are sold under unbranded names.
Chronic Diseases Enhance Drug Demands
Rapidly increasing instances of chronic diseases among the population of the country is substantial growing the demands for the generic drugs, since the medication for chronic diseases usually prescribed for longer duration, and due to medical expenses, the population prefers generic drugs. Thus, increasing cases of cardiovascular diseases, high blood pressure, diabetes, etc. alike diseases require long duration of prescribed medicine, and thus substantiate the growth of the Vietnam generic drugs market in the next five years.
COVID-19 Surged Demands For Generic Drugs
Sudden outbreak of COVID-19 virus has impacted healthcare industry as a whole. Pharmaceutical sector of the industry further boomed all around the world due to sudden increased demands for the new drugs to overcome COVID-19 infection, increasing demands for the vaccine against the viral infection, and high number of patients being affected with the disease. Vietnam healthcare industry experienced increase in the demands for drugs to overcome the symptoms of the infection like fever, flu, and cold sweat.
Global players in the market along with the local manufacturing units doubled their efforts to increase the production of the generic drugs and thus aided to the growth of the Vietnam generic drugs market, that may continue in future five years since the pandemic situation has still not completely eradicated.
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Market Segmentation
The Vietnam generic drugs market is segmented by type, mode of drug delivery, form, source, distribution channel, application, competitional landscape, and regional distribution.
By form, the market is segmented into tablet, capsule, injection, and others. Market is differentiated on the basis of source between in-house and contract manufacturing organizations. Based on distribution channel, the market is fragmented into hospital pharmacies, retail pharmacies, and online pharmacies.
Application based market segment is bifurcated into cardiovascular diseases, diabetes, neurology, oncology, anti-inflammatory diseases, and others. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among Northern region, Central region, and the Southern region.
Company Profile
DHG Pharmaceutical Joint Stock Company, Traphaco Joint Stock Company, Pymepharco Joint Stock Company, Hatay Pharmaceutical Joint Stock Company, Mekophar Chemical Pharmaceutical JSC, Imexpharm Corporation, OPC Pharmaceutical Joint Stock Company
| Attribute | Details |
| Base Year | 2021 |
| Historical Data | 2017 – 2020 |
| Estimated Year | 2022 |
| Forecast Period | 2023 – 2027 |
| Quantitative Units | Revenue in USD Million, and CAGR for 2017-2021 and 2022-2027 |
| Report coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments covered | · Type · Mode of Drug Delivery · Form · Source · Distribution Channel · Application |
| Regional scope | Northern region, Central region, and Southern region. |
| Key companies profiled | DHG Pharmaceutical Joint Stock Company, Traphaco Joint Stock Company, Pymepharco Joint Stock Company, Hatay Pharmaceutical Joint Stock Company, Mekophar Chemical Pharmaceutical JSC, Imexpharm Corporation, OPC Pharmaceutical Joint Stock Company |
| Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
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