Vietnam Pharmaceuticals & Healthcare Report

Published 15 April 2015

  • 126 pages
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$1,295.00
Vietnam Pharmaceuticals & Healthcare Report

BMI View: Vietnam's underdeveloped healthcare system will continue to be an impediment to pharmaceutical companies as patients face challenges in accessing drugs. This challenge is further compounded by the regional variations in healthcare infrastructure, including a concentration of doctors and hospital facilities in the urban provinces of the country.

Headline Expenditure Projections

  • Pharmaceuticals: VND80,731bn (USD3.81bn) in 2014 to VND92,719bn (USD4.32bn) in 2015; +14.8% in local currency terms and +13.4% in US dollar terms.

  • Healthcare: VND254,679bn (USD12.01bn) in 2014 to VND291,313bn (USD13.57bn) in 2015; +14.4% in local currency terms and +12.9% in US dollar terms.

Risk Reward Index:

Vietnam's Pharmaceutical Risk Reward Index score for Q215 is 49.1 out of the maximum 100. The country scored above average for some indicators and sub-indicators, including overall market expenditure, sector value growth and pensionable population. Consequently, with this moderate score, Vietnam is ranked 11th out of the 19 key Asia Pacific markets, level with Thailand and Indonesia.

Key Trends And Developments

  • In March the Vietnamese government has announced its target to achieve 75% health insurance coverage in 2015 and 80% by 2020, reports Vietnamnet, citing Prime Minister Nguyen Tan Dung. Currently, health insurance coverage is available only to a small number of households just above the poverty line and employees of private firms, according to the blueprint for universal health insurance. Health insurance covered 71.6% of the population in 2014. This low coverage is attributed to high premiums, low medical service quality and hurdles in insurance payments, noted Health Minister Nguyen Thi Kim Tien. Cooperation and initiative from the entire system is required to overhaul existing policies in order to extend coverage to the remaining 30% of the population, stressed Kim Tien.

  • Eight state-owned pharmaceutical companies in Vietnam are set to go public in 2015,...

Table of Contents

BMI Industry View
7
SWOT
9
Political
11
Economic
12
Operational Risk
14
Industry Forecast
16
Pharmaceutical Market Forecast
16
Table: Pharmaceutical Sales, Historical Data And Forecasts (Vietnam 2011-2019)
17
Healthcare Market Forecast
19
Table: Healthcare Expenditure Trends, Historical Data And Forecasts (Vietnam 2011-2019)
22
Table: Government Healthcare Expenditure Trends, Historical Data And Forecasts (Vietnam 2011-2019)
23
Table: Private Healthcare Expenditure Trends, Historical Data And Forecasts (Vietnam 2011-2019)
23
Prescription Drug Market Forecast
24
Table: Prescription Drug Market Indicators, Historical Data And Forecasts (Vietnam 2011-2019)
25
Patented Drug Market Forecast
26
Table: Patented Drug Market Indicators, Historical Data And Forecasts (Vietnam 2011-2019)
27
Generic Drug Market Forecast
28
Table: Generic Drug Market Indicators, Historical Data And Forecasts (Vietnam 2011-2019)
29
OTC Medicine Market Forecast
30
Table: Over-The-Counter (OTC) Medicine Market Indicators, Historical Data And Forecasts (Vietnam 2011-2019)
31
Pharmaceutical Trade Forecast
32
Table: Pharmaceutical Trade Data And Forecasts (Vietnam 2013-2019)
33
Table: Pharmaceutical Trade Data And Forecasts local currency (Vietnam 2013-2019)
34
Key Risks To BMI's Forecast Scenario
34
Macroeconomic Forecasts
35
Economic Analysis
35
Table: Economic Activity (Vietnam 2010-2019)
39
Industry Risk Reward Index
40
Asia Pacific Risk/Reward Index
40
Vietnam Risk Reward Index
46
Rewards
46
Risks
46
Market Overview
48
Industry Trends And Developments
50
Epidemiology
50
Healthcare Sector
52
Hospital Sector
54
Table: Healthcare Resources, Healthcare Activity and Healthcare Personnel
55
Private Healthcare Sector
58
Healthcare Insurance
60
Healthcare And Pharmaceutical Reform
61
Research And Development
62
Biotechnology Sector
63
Clinical Trials
65
Regulatory Development
68
Pharmaceutical Advertising
69
Intellectual Property Issues
70
Corruption
73
Pricing Regime
74
Reimbursement Regime
79
Pricing And Reimbursement Developments
80
Competitive Landscape
82
Research-Based Industry
82
Domestic Industry
83
Foreign Industry
84
Traditional Medicines
86
Pharmaceutical Distribution
87
Pharmaceutical Retail Sector
88
Table: Key Aspects Of Good Pharmacy Practice In Developing Countries
89
Company Profile
90
DHG Pharmaceutical
90
GlaxoSmithKline
92
Merck & Co
94
Novartis
96
Pfizer
98
Sanofi
100
Traphaco Pharmaceutical
103
Vietnam OPV Pharmaceutical Co
105
Vietnam Pharmaceutical Corporation (Vinapharm)
107
Vietnam Pharmaceutical Joint Stock Company (Ampharco)
110
Vidipha Central Pharmaceutical Joint Stock Company
112
Demographic Forecast
114
Table: Population Headline Indicators (Vietnam 1990-2025)
115
Table: Key Population Ratios (Vietnam 1990-2025)
115
Table: Urban/Rural Population & Life Expectancy (Vietnam 1990-2025)
116
Table: Population By Age Group (Vietnam 1990-2025)
116
Table: Population By Age Group % (Vietnam 1990-2025)
117
Glossary
119
Methodology
121
Pharmaceutical Expenditure Forecast Model
121
Healthcare Expenditure Forecast Model
121
Notes On Methodology
122
Risk/Reward Index Methodology
123
Index Overview
124
Table: Pharmaceutical Risk/Reward Index Indicators
124
Indicator Weightings
125

The Vietnam Pharmaceuticals & Healthcare Report features BMI Research's forecasts for drugs and healthcare expenditure and imports and exports, focusing on the growth outlook for the prescription, OTC, patented drugs and generics market segments.

BMI's Vietnam Pharmaceuticals & Healthcare Report provides industry professionals, strategists, company executives, investors, analysts and sales/marketing heads with independent forecasts and competitive intelligence on the Vietnam pharmaceutical and healthcare industry.

Key Benefits

  • Benchmark BMI's pharmaceutical and healthcare market forecasts for Vietnam, to test other views - a key input for successful budgeting and strategic business planning in the Vietnamese pharmaceutical and healthcare market.
  • Target business opportunities and risks in the Vietnamese pharmaceutical and healthcare sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Vietnam.
  • Assess the activities, strategy and market position of your competitors using our company profiles (including SWOTs, KPIs and latest activity) and competitive landscape tables.

Coverage

BMI Industry View

An at-a-glance perspective on the latest regulatory developments, key forecast indicators and major corporate developments, covering the prescription, OTC and generics markets. The pharmaceuticals and healthcare SWOT outlines strategic factors that affect the basic assumptions underpinning BMI’s forecast analysis, and taken together with BMI’s political, economic and business environment SWOTs, it gives a complete overview of market climate.

BMI Industry Forecast Scenario

Industry forecasts to end-2019 for all key indicators, supported by explicit assumptions, plus analysis of key downside risks to the main forecasts:

  • Healthcare: Total healthcare expenditure (USDbn), healthcare expenditure (% of GDP), healthcare expenditure per capita (USD), hospital beds, doctors, and birth & mortality rates (all per ‘000 population).
  • Pharmaceutical Market: Drug expenditure in USDbn, % of GDP and per capita (USD).
  • Patented Drug Market: Prescription drug sales (USDbn & % of total sales).
  • Generic Drug Market: Generic product sales (USDbn), generic sales (% of total sales).
  • OTC Drug Market: OTC sales (USDbn & % of total sales).
  • Macroeconomic Forecasts: Nominal and real GDP, % real GDP growth, % private consumption growth, % industrial output growth, % consumer price index, % GDP price deflator, exports, imports, trade balance, current account balance, foreign direct investment, exchange rate against USD, government expenditure and external debt.

BMI’s Pharmaceuticals and Healthcare Risk Reward Index

BMI’s Risk Reward Index provides investors (both national and multinational) looking for opportunities in the region with a clear country-comparative assessment of the market’s risks and potential rewards. Each of the country markets are scored using a sophisticated model that includes more than 40 industry, economic and demographic data points to provide indices of highest to lowest appeal to investors, with each position explained.

Market Summary

A snapshot of key market characteristics, including total size of the pharmaceuticals and healthcare segments, growth drivers, leading therapeutic areas and the competitive landscape

Industry Developments

A focus on government healthcare reforms, epidemiological trends, mergers and acquisitions, product launches, market entries, FDI activity, R&D, biotechnology, clinical trials and supply chain issues.

Regulatory Regime

Details of the industry regulatory framework and key legislation covering the licensing of new products/services, pricing and reimbursements, intellectual property, taxation and advertising, as well as analysis of the overall regulatory burden.

Competitive Landscape

The competitive landscape section provides comparative company analyses and index by USD sales and % share of total sales – for the total pharmaceutical sector, as well as the OTC, generics and distribution sub-sectors.

Company Profiles*

Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI’s industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape to generate Company SWOT analyses. The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.

*Company profiles are not available for every country. Those reports instead contain information on the current activities of prominent companies operating in the market.

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Testimonials

'An essential, multi-faceted research tool. BMI’s thorough understanding of the major market players enables an informed – and informative – review of the sector’s actual performance, together with useful insights into current industry issues, which are topped-off with detailed and invaluable forecasts of industry and macroeconomic trends.’

Senior Research Analyst, ABC International Bank plc