|
|
 |
|
Viewing report
|
|
|
|
Vietnam Pharmaceuticals and Healthcare Report Q4 2010
Business Monitor International, Sep 2010, Pages: 95
The 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.
In BMI’s Asia Pacific Business Environment Ratings (BER) matrix for Q410, Vietnam remains ranked 13th of the 17 key regional markets, which now include Sri Lanka. Due to a combination of economic and regulatory drawbacks, Vietnam is a relatively high-risk proposition, especially given the high level of counterfeiting activities and dispensing without prescription. Nevertheless, Vietnam’s large and fastgrowing population, which is expected to top 96mn by 2019, will continue to pique the interest of foreign players. Although the country’s regulatory environment will remain fairly challenging, the introduction of global standards for manufacturing and pharmacy distribution will improve the market value. Globally, Vietnam ranks 66th out of 83 countries surveyed in our ever-expanding pharmaceutical universe. Valued at US$1.54bn in 2009, we expect the Vietnamese pharmaceutical market to post a five-year compound annual growth rate (CAGR) of 16.03% in local currency terms (14.80% in US dollars), to reach a value of US$3.07bn in 2014.
At over US$33 in 2014, spending per capita will have almost doubled in five years, with further growth expected through to 2019. Over the ten-year forecast period, overall market CAGR will slow somewhat (to 12.79% in local currency), due to a higher uptake of cheaper, domestically-produced medicines, patent expirations and likely measures to reduce consumption in government hospitals, as the government deals with budget deficits.
Vietnam's large and inexpensive workforce remains the largest attraction to foreign investors, although there is an increasing occurrence of foreign direct investment (FDI) projects aimed at tapping the country's growing consumer market. While there is still a large degree of state intervention, the government has been moving gradually towards a market economy. The country's decrepit infrastructure continues to be an impediment for many foreign investors, but we see this as a diminishing problem as the government invests heavily in new roads, railways and ports. In fact, a number of foreign-financed pharmaceutical manufacturing projects in 2009 stood at over 20. A general development project for the drug industry for 2015-2020 has mapped by the government, intended to raise the number of foreign drug traders and producers in the country and enhance domestic drug output and quality. By 2020, the government is looking to meet 80% of domestic demand through local production, up from around 50% currently in volume terms.
The local industry is also expanding. For example, the Vietnam Chemical Pharmaceutical Joint Stock Company (VCP) recently opened a new manufacturing plant in the northern province of Bac Ninh. The US$10mn plant meets World Health Organization (WHO) standards: Good Manufacturing Practice (GMP); Good Storage Practices (GSP); and Good Laboratory Practices (GLP). VCP Chairman Ngo Chi Dung has stated that the plant will limit material imports and generate new jobs for local workers.
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 Q1 2012
Vietnam Pharmaceuticals and Healthcare Report Q1 2011
Vietnam Pharmaceuticals and Healthcare Report Q2 2011
Vietnam Pharmaceuticals and Healthcare Report Q4 2011
Vietnam Pharmaceuticals and Healthcare Report Q1 2010
Vietnam Pharmaceuticals and Healthcare Report Q2 2009
Vietnam Pharmaceuticals and Healthcare Report Q1 2009
Thailand Pharmaceuticals and Healthcare Report Q1 2009
Vietnam Pharmaceuticals and Healthcare Report Q2 2008
Vietnam Pharmaceuticals & Healthcare Report Q1 2008
|
|
|
|
