|
|
 |
|
Viewing report
|
|
|
|
Vietnam Pharmaceuticals and Healthcare Report Q1 2010
Business Monitor International, Dec 2009, Pages: 88
Vietnam Pharmaceuticals and Healthcare Report provides industry professionals and strategists, corporate analysts, pharmaceutical associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Vietnam's pharmaceuticals and healthcare industry.
Over recent months, Vietnam’s economy has suffered from negative macroeconomic factors like many of its Asian neighbours. A decline in demand from Western countries and a devaluation of the dong against the US dollar has affected its export industries, with a knock-on effect on employment and disposable income in Vietnam. As a result, spending on pharmaceuticals has declined while counterfeit medicines have gained ground as consumers look for cheaper alternatives.
Despite these macroeconomic influences there is still plenty of scope for drug expenditure growth in Vietnam and BMI forecasts that the market will grow from US$1.4bn in 2008 to US$6.1bn in 2019. Over the forecast period, Vietnam’s population dynamics will change considerably, with a positive impact on the pharmaceutical market. Vietnam’s young population will age, life expectancy will be raised, and by 2019, BMI projects that Vietnam’s population will increase from 86.8mn in 2008 to just over 100mn. These factors will all contribute to boosting demand and consequent per-capita spending on pharmaceuticals is expected to rise from US$16.13 in 2008 to US$60.30 in 2019.
Vietnam’s local pharmaceutical industry will have a crucial role to play in pharmaceutical market expansion. Improvements to manufacturing plants, adherence to international quality standards and partnerships with multinational firms are essential to ensure Vietnamese firms can meet government plans to provide for 60% of domestic demand by 2010. Much progress has been made in recent months, such as the announcement that Vietnam is now self-sufficient in terms of domestic measles vaccine production. Other positive developments, such as preclinical trials for a swine flu vaccine manufactured by the Pasteur Institute, are signs of progress among local drugmakers.
Pricing of medicines still remains a contentious issue, with a recent academic report published in Southern Med Review in September 2009, suggesting that drug prices, even those of generics, are too expensive for the majority of Vietnamese people. Additionally, the study found that in many cases drug availability varied considerably across the country. In this respect, the role of the Drug Administration of Vietnam (DAV) continues to be important, as its price listings enable health departments to compare the cost of different drugs on the market before purchasing. Such transparency should help eliminate the widely different mark-ups enforced by pharmaceutical distributors across the country. There are still problems restricting Vietnam’s development, namely the sub-standard intellectual property (IP) regime, corruption in the healthcare sector and the fact that much of the population has very low income and lives in rural areas, meaning that per-capita consumption remains low. As a result, Vietnam sits close to the bottom of BMI’s Business Environment Ratings for the Asia Pacific region, with belowaverage scores in every category.
Product samples
A sample for this product is available. Please Login/Register to download this sample.
Customers who bought this item also bought
Vietnam Pharmaceuticals and Healthcare Report Q4 2010
Vietnam Pharmaceuticals and Healthcare Report Q1 2011
Vietnam Pharmaceuticals and Healthcare Report Q1 2012
Vietnam Pharmaceuticals and Healthcare Report Q4 2011
Vietnam Pharmaceuticals and Healthcare Report Q2 2011
Vietnam Pharmaceuticals and Healthcare Report Q2 2009
Vietnam Pharmaceuticals and Healthcare Report Q1 2009
Vietnam Pharmaceuticals and Healthcare Report Q2 2008
Thailand Pharmaceuticals and Healthcare Report Q1 2009
Vietnam Pharmaceuticals & Healthcare Report Q1 2008
|
|
|
|
