Vietnam Pharmaceuticals & Healthcare Report

Published 10 July 2015

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

BMI View: Counterfeit and substandard medicines will remain highly pervasive in Vietnam's pharmaceutical market. While this reflects the limited capacity of regulators to address the problem, its persistence also illustrates the presence of a sizeable market for manufacturers of counterfeit and low quality medicines. We highlight that pharmaceutical products most affected by this practice are small molecule medicines.

Headline Expenditure Projections

  • Pharmaceuticals: VND80,731bn (USD3.81bn) in 2014 to VND92,719bn (USD4.32bn) in 2015; +14.9% in local currency terms and +13.4% in US dollar terms.

  • Healthcare: VND234,889bn (USD11.08bn) in 2014 to VND258,648bn (USD12.05bn) in 2015; +10.1% in local currency terms and +8.7% in US dollar terms.

Risk Reward Index

Vietnam's Pharmaceutical Risk Reward Index score for Q315 is 47.9 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

  • Vietnam has met international vaccine-management standards and is eligible for exporting its domestically produced vaccines, according to World Health Organization (WHO) representative Lahouari Belghabi. The country's National Regulatory Authorities has scored more than 90% in its critical control functions during an assessment carried out by 14 WHO specialists. The functions include surveillance of vaccine performance in the field, regular inspections for good manufacturing practice and evaluation of clinical performance. The country is among 39 countries that meet WHO's strict vaccine standards, and is expected to become one of the world's leading vaccine producers in 20 or 30 years, Belghabi noted (Vietnamnet).

  • The Drug Administration of Vietnam has imposed fines and a two-year drug import ban...

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)
18
Healthcare Market Forecast
19
Table: Healthcare Expenditure Trends, Historical Data And Forecasts (Vietnam 2011-2019)
21
Table: Government Healthcare Expenditure Trends, Historical Data And Forecasts (Vietnam 2011-2019)
22
Table: Private Healthcare Expenditure Trends, Historical Data And Forecasts (Vietnam 2011-2019)
22
Prescription Drug Market Forecast
23
Table: Prescription Drug Market Indicators, Historical Data And Forecasts (Vietnam 2011-2019)
24
Patented Drug Market Forecast
25
Table: Patented Drug Market Indicators, Historical Data And Forecasts (Vietnam 2011-2019)
26
Generic Drug Market Forecast
27
Table: Generic Drug Market Indicators, Historical Data And Forecasts (Vietnam 2011-2019)
28
OTC Medicine Market Forecast
29
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)
40
Industry Risk Reward Indices
41
Asia Pacific Risk/Reward Index
41
Vietnam Risk Reward Index
47
Rewards
47
Risks
47
Market Overview
49
Industry Trends And Developments
51
Epidemiology
51
Healthcare Sector
53
Hospital Sector
56
Table: Healthcare Resources (Vietnam 2009-2014)
56
Table: Healthcare Personnel (Vietnam 2009-2014)
56
Table: Healthcare Activity (Vietnam 2009-2014)
57
Private Healthcare Sector
59
Healthcare Insurance
61
Healthcare And Pharmaceutical Reform
62
Research And Development
63
Biotechnology Sector
64
Clinical Trials
66
Regulatory Development
69
Pharmaceutical Advertising
70
Intellectual Property Issues
71
Corruption
74
Pricing Regime
75
Reimbursement Regime
80
Pricing And Reimbursement Developments
81
Competitive Landscape
83
Research-Based Industry
83
Domestic Industry
84
Foreign Industry
85
Traditional Medicines
87
Pharmaceutical Distribution
88
Pharmaceutical Retail Sector
89
Table: Key Aspects Of Good Pharmacy Practice In Developing Countries
90
Company Profile
91
DHG Pharmaceutical
91
GlaxoSmithKline
93
Merck & Co
95
Novartis
97
Pfizer
99
Sanofi
101
Traphaco Pharmaceutical
104
Vietnam OPV Pharmaceutical Co
106
Vietnam Pharmaceutical Corporation (Vinapharm)
108
Vietnam Pharmaceutical Joint Stock Company (Ampharco)
111
Vidipha Central Pharmaceutical Joint Stock Company
113
Demographic Forecast
115
Table: Population Headline Indicators (Vietnam 1990-2025)
116
Table: Key Population Ratios (Vietnam 1990-2025)
116
Table: Urban/Rural Population & Life Expectancy (Vietnam 1990-2025)
117
Table: Population By Age Group (Vietnam 1990-2025)
117
Table: Population By Age Group % (Vietnam 1990-2025)
118
Glossary
120
Methodology
122
Pharmaceutical Expenditure Forecast Model
122
Healthcare Expenditure Forecast Model
122
Notes On Methodology
123
Risk/Reward Index Methodology
124
Index Overview
125
Table: Pharmaceutical Risk/Reward Index Indicators
125
Indicator Weightings
126

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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