Wednesday, April 17, 2024

Email id: support@kenresearch.com, Contact Us : +91-9871552944

Home Health Care Rise in Chronic Diseases Expected to Drive Vietnam Pharmaceutical Industry: Ken Research

Rise in Chronic Diseases Expected to Drive Vietnam Pharmaceutical Industry: Ken Research

The pharmaceutical industry is a fragment of the healthcare sector that deals with medications. The industry encompasses different subfields pertaining to the development, invention, and marketing of medications. These interdependent subfields consist of drug marketers, drug manufacturers, and biotechnology companies. The main goal of this industry is to provide drugs that maintain health, prevent infections, and cure diseases. It regulates the entire drug life cycle, including the competition with generics, patent application, marketing approval, and patent expiration. Regulations also control all wholesalers, retailers, recommending physicians, and manufacturers in the pharma industry. The industry regulators seek to monitor numerous drug-related concerns including quantity, quality, pricing, safety, market flow, patents and research & development (R&D) incentives.

According to study, “Vietnam Pharmaceutical Comprehensive Report Q4/2019” the key companies operating in the Vietnam pharmaceutical industry are DHG Pharmaceutical Joint Stock Company, Domesco Medical Import Export JSC, TRAPHACO Joint Stock Company, Vimedimex Medi-Pharma JSC, Imexpharm Pharmaceutical JSC, Ben Tre Pharmaceutical JSC, OPC Pharmaceutical JSC, Lam Dong Pharmaceutical JSC, S.P.M JSC, Ha Tay Pharmaceutical JSC. The key companies are constantly looking at customer needs and upgrading drugs based on research & innovation. Additionally, the foreign companies are also entering in the Vietnamese pharmaceuticals market by constricting with domestic distributors for establishing a joint venture with a local partner or by setting up their own entirely foreign-owned enterprise.

Based on active pharmaceutical ingredient, Vietnam pharmaceutical market is segmented into biotech active pharmaceutical ingredient, active pharmaceutical ingredient, cytokines, and blood factors. Monoclonal antibodies, vaccines, fusion proteins, therapeutic enzymes and hormones & growth factors. Based on drug type, market is segmented into Over-the-counter (OTC) drugs and prescription drugs. The OTC drugs segment dominates the market as they are sold directly to the customer without the requirement of the prescription from the healthcare service. Based on customer base type drugs, market is segmented into branded drugs and generic drugs. In addition, based on application, market is segmented into oncology, cardiovascular disease, ophthalmology, gastrointestinal disorders, endocrinology, nephrology, diabetes, central nervous system & neurological disorders, and others.

The Vietnam pharmaceutical industry is driven by emerging medical conditions, followed by widespread population aging & sedentary lifestyles, emergence of new diseases, rise in disposable income, growth in industrialization data services in R&D, rise in innovation in advanced biologics and rise in incidence of such conditions like asthma. However, increase in competition by generic companies and rise in adoption of cost control policies & stringent rules by governments may impact the market. Moreover, growth in utilization of biosimilars along with the introduction of generic medicines in developed as well as emerging economies is key opportunities for market.

Vietnam pharmaceutical industry has grown significantly owing to increase in domestic regulations of imported drugs, rises in research in the field of bio science and changes in government policies. In upcoming years, it is projected that the market will be reached at rapid pace due to rise in health problems arising from the environment, increase in programs designed to attract more foreign direct investment and growth in industrialization process during the forecast period.

For More Information on the research report, refer to below link:-

Vietnam Pharmaceutical Market

Related Report:-

World Pharmaceutical Autoclaves Market Research Report 2024 (Covering USA, Europe, China, Japan, India and etc)

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

RELATED ARTICLES

Dietary Supplements Market: Size, Segmentation and Future Outlook

Dietary supplements, those concentrated sources of nutrients, have become a staple in many households globally. Whether it's filling nutritional gaps or targeting specific health...

Single-Use Bioprocessing Industry- Analysis, Growth and Future Outlook

The single-use bioprocessing market is experiencing a surge, fueled by its inherent advantages in efficiency, flexibility, and cost-effectiveness for biopharmaceutical production. This report analyzes...

Trends, Challenges and Opportunities in Osteoporosis Drugs Market

Osteoporosis, a condition characterized by weakened and brittle bones, poses a significant health concern for millions globally.The osteoporosis drugs market, encompassing medications used to...

Most Popular

Mastering TNEB Online Payment: Expert Tips for Efficiency and Convenience

In today's fast-paced world, where convenience and efficiency are paramount, mastering TNEB online payment can significantly streamline your monthly electricity bill payment process. With...

Dietary Supplements Market: Size, Segmentation and Future Outlook

Dietary supplements, those concentrated sources of nutrients, have become a staple in many households globally. Whether it's filling nutritional gaps or targeting specific health...

Why You Should Choose the Best Credit Card in India for Your Financial Goals

In today's world, the use of credit cards has become an integral part of our lives. Whether it is for making everyday purchases or...

Investors Guide to the Manufacturing Plant Market Trends, Challenges & Opportunities

The global manufacturing industry is undergoing a metamorphosis, driven by automation, digitalization, and a growing emphasis on sustainability.  At the heart of this transformation...