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. Based on
type, the market is differentiated between small molecule generics and
biosimilars. On the basis of mode of drug delivery, the market is bifurcated
into oral, topical, parenteral, and others.
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, among others is a partial list of
major market players of the companies responsible for the growth of Vietnam generic
drugs market.
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Attribute
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Details
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Base Year
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2021
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Historical Data
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2017 –
2020
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Estimated Year
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2022
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Forecast Period
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2023
– 2027
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Quantitative Units
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Revenue in USD Million, and CAGR for 2017-2021 and 2022-2027
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Report coverage
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Revenue
forecast, company share, competitive landscape, growth factors, and trends
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Segments covered
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·
Type
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Mode of Drug Delivery
·
Form
·
Source
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Distribution Channel
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Application
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Regional scope
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Northern
region, Central region, and Southern region.
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Key companies profiled
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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
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Customization scope
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10%
free report customization with purchase. Addition or alteration to country,
regional & segment scope.
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Pricing and purchase options
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Avail customized purchase options to meet your exact research
needs. Explore purchase options
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Delivery Format
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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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Report Scope:
In this report, Vietnam generic drugs market has been segmented into
following categories, in addition to the industry trends which have also been detailed
below:
- Vietnam Generic Drugs Market, By Type:
- Small Molecule Generics
- Biosimilars
- Vietnam Generic Drugs Market, By Mode
of Drug Delivery:
- Oral
- Topical
- Parenteral
- Others
- Vietnam Generic Drugs Market, By Form:
- Tablet
- Capsule
- Injection
- Others
- Vietnam Generic Drugs Market, By Source:
- In House
- Contract Manufacturing Organizations
- Vietnam Generic Drugs Market, By Distribution
Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Vietnam Generic Drugs Market, By Application:
- Cardiovascular Diseases
- Diabetes
- Neurology
- Oncology
- Anti-Inflammatory Diseases
- Others
- Vietnam Generic Drugs Market, By
Region:
o Northern Region
o Central Region
o Southern Region
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in Vietnam generic drugs market.
Available Customizations:
With the given market data, TechSci Research offers
customizations according to a company’s specific needs. The following customization
options are available for the report:
Company
Information
- Detailed analysis and profiling of
additional market players (up to five).
Vietnam Generic drugs Market
is an upcoming report to be released soon. If you wish an early delivery of
this report or want to confirm the date of release, please contact us at [email protected]