CountryFocus: Healthcare, Regulatory and Reimbursement Landscape - Vietnam

  • ID: 2858764
  • Report
  • Region: Vietnam
  • 147 Pages
  • GlobalData
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Vietnamese Pharmaceutical Market to Reach $6.6 Billion by 2020
CountryFocus: Healthcare, Regulatory and Reimbursement Landscape - Vietnam

Summary

The industry analysis specialist, has released its latest report, “CountryFocus: Healthcare, Regulatory and Reimbursement Landscape - Vietnam”. It is an essential source of information on and analysis of the healthcare, regulatory and reimbursement landscape in Vietnam, identifying key trends in the healthcare market and providing insights into the demographic, regulatory, reimbursement landscape and healthcare infrastructure. Most importantly, the report provides valuable insights into the trends and segmentation of the pharmaceutical and medical devices market, using data and information sourced from proprietary databases, secondary research and in-house analysis by a team of industry experts.

In 2015, Vietnam’s population stood at 92 million, an increase from 85 million in 2008 due to the high birth rate and low mortality rate. The country’s pharmaceutical market was estimated to have been worth $3.5 billion in 2015 and is expected to reach $6.6 billion by 2020 at a projected Compound Annual Growth Rate (CAGR) of 13.8%. The medical device market was estimated at approximately $295m in 2015 and is expected to grow at a CAGR of 11.3% to $505m by 2020.

The positive trends in Vietnam’s healthcare market can primarily be attributed to -
- Increasing coverage of healthcare insurance
- Government initiatives to improve healthcare facilities

Scope

The report includes -
- Overview of the pharmaceutical and medical device markets, including size, segmentation and key drivers and barriers
- Profiles and SWOT analyses of the major players in the pharmaceutical market: Sanofi, Hau Giang Pharmaceuticals (DHG Pharmaceuticals), Imexpharm, Traphaco and Domesco.
- An insightful review of the reimbursement and regulatory landscape, covering the healthcare reimbursement process, regulatory agencies, and the approval processes for new drugs and medical devices.
- Detailed analysis of the political and economic environment, including economic indicators, demographics, healthcare infrastructure and healthcare expenditure
- An overview of the opportunities for and challenges to growth in the healthcare market

Reasons to buy

The report will enhance your decision-making capability by allowing you to -
- Develop business strategies through an understanding of the trends shaping and driving the healthcare market
- Drive revenue by understanding the key trends, reimbursement and regulatory policies, pharmaceutical and medical device market segments and companies likely to impact the healthcare market in the future
- Formulate effective sales and marketing strategies by understanding the competitive landscape and analyzing the performance of competitors
- Organize your sales and marketing efforts by identifying the market categories and segments that present the best opportunities for consolidation, investment and strategic partnership
- Identify, understand and capitalize on the opportunities and challenges in the healthcare market
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1.1 List of Tables

1.2 List of Figures

2 Introduction

2.1 Report Guidance

3 Overview of the Pharmaceutical and Medical Device Markets

3.1 Pharmaceutical Market

3.1.1 Market Overview

3.1.2 Pharmaceutical Exports and Imports

3.1.3 Supply Channels

3.1.4 Market Segments

3.1.5 Major Disease Areas

3.1.6 Major Companies

3.2 Medical Device Market

3.3 Market Drivers and Barriers

3.3.1 Drivers

3.3.2 Barriers

4 Market Access

4.1 Reimbursement and Payer Landscape

4.1.1 Overview of Healthcare System

4.1.2 Reimbursement Process

4.1.3 Overview of Insurance Providers

4.1.4 Patient Share in Healthcare Spending

4.1.5 Price Trends in Healthcare Sector

4.1.6 Pricing Policies

4.2 Regulatory Landscape

4.2.1 Overview of Regulatory Agencies

4.2.2 Market Authorization Procedure for Pharmaceutical Products

4.2.3 New Medical Device Approval Process

4.2.4 Licensing Process for Pharmaceutical and Medical Device Manufacturing

4.2.5 Licensing Process for Pharmaceutical Exports and Imports

4.2.6 Intellectual Property Rights

4.2.7 Clinical Trial Regulations

4.2.8 Pharmaceutical Advertising Regulations

4.2.9 Pharmacy Regulations

4.2.10 Labeling and Packaging Regulations

5 Country Analysis

5.1 Political Environment

5.1.1 Political Structure

5.1.2 Analysis of the Current Political Environment

5.1.3 Healthcare Policy Initiatives

5.2 Economic Landscape

5.3 Economic Indicators

5.3.1 Gross Domestic Product

5.3.2 Gross National Income

5.3.3 Inflation

5.3.4 Currency Exchange Rate

5.3.5 Foreign Direct Investment

5.3.6 Foreign Exchange Reserves

5.3.7 Trade Balance

5.3.8 General Government Structural Balance

5.3.9 General Government Net Debt

5.3.10 Major Industries

5.4 Demographics

5.4.1 Population

5.4.2 Education and Literacy

5.4.3 Employment

5.4.4 Disease Burden

5.5 Healthcare Infrastructure

5.5.1 Healthcare Facilities

5.5.2 Healthcare Parameters

5.5.3 Environmental Health

5.5.4 Healthcare Personnel

5.6 Healthcare Expenditure

5.6.1 Overview

5.6.2 Major Components of Healthcare Spending

5.6.3 Public and Private Sector Share

5.6.4 Spending in Healthcare R&D

5.7 Trade Associations

5.7.1 Vietnam Pharmaceutical Companies Association

5.7.2 Vietnam General Association of Medicine and Pharmacy

5.7.3 Vietnam Public Health Association

5.8 Trade Fairs

6 Opportunities and Challenges

6.1 Opportunities

6.2 Challenges

7 Appendix

7.1 Abbreviations

7.2 Bibliography

7.3 Research Methodology

7.3.1 Coverage

7.3.2 Secondary Research

7.3.3 Forecasts

7.3.4 Expert Panel

7.4 Disclaimer

1.1 List of Tables

Table 1: Pharmaceutical Market, Vietnam, Revenue ($bn), 2008-2015

Table 2: Pharmaceutical Market, Vietnam, Revenue Forecast ($bn), 2016-2020

Table 3: Pharmaceutical Market, Vietnam, Exports and Imports ($m), 2008-2015

Table 4: Pharmaceutical Market, Vietnam, Generic Market Revenue ($bn), 2008-2015

Table 5: OTC Market, Vietnam, Revenue ($m), 2008-2015

Table 6: Pharmaceutical Market, Vietnam, Major Disease Areas, Prevalence and Number of Mental Disorder Cases, 2005

Table 7: Pharmaceutical Market, Sanofi, Major Products, 2015

Table 8: Pharmaceutical Market, Sanofi, Global, Late-Stage Pipeline, 2016

Table 9: Pharmaceutical Market, DHG Pharmaceutical, Major Products, 2015

Table 10: Pharmaceutical Market, Traphaco, Major Products, 2015

Table 11: Pharmaceutical Market, Domesco, Major Products, 2015

Table 12: Medical Device Market, Vietnam, Revenue ($m), 2008-2015

Table 13: Medical Device Market, Vietnam, Revenue ($m), 2016-2020

Table 14: Market Access, Vietnam, Health Insurance Population Coverage (%), 2008-2015

Table 15: Market Access, Vietnam, Out-of-Pocket Expenditure (%), 2008-2015

Table 16: Market Access, Vietnam, Change in Average Price of Healthcare Services (%), 2008-2015

Table 17: Regulatory Landscape, Vietnam, Trademark Filing Fees and Charges, 2015

Table 18: Regulatory Landscape, Vietnam, Labeling Guidelines, 2015

Table 19: Economic Indicators, Vietnam, GDP per Capita ($), 2008-2015

Table 20: Economic Indicators, Vietnam, GDP per Capita Forecast ($), 2016-2020

Table 21: Economic Indicators, Vietnam, GDP Annual Growth (%), 2008-2015

Table 22: Economic Indicators, Vietnam, GDP Annual Growth (%), 2016-2020

Table 23: Economic Indicators, Vietnam, GNI Per Capita ($), 2008-2015

Table 24: Economic Indicators, Vietnam, Consumer Price Index, 2008-2015

Table 25: Economic Indicators, Vietnam, Consumer Price Index, 2016-2020

Table 26: Economic Indicators, Vietnam, Consumer Price Annual Change (%), 2008-2015

Table 27: Economic Indicators, Vietnam Currency Exchange Rate ($/VND) 2008-2015

Table 28: Economic Indicators, Vietnam, FDI ($bn), 2008-2015

Table 29: Economic Indicators, Vietnam, Foreign Exchange Reserves ($bn), 2008-2015

Table 30: Economic Indicators, Vietnam, Imports of Goods and Services ($bn), 2008-2015

Table 31: Economic Indicators, Vietnam, Exports of Goods and Services ($bn), 2008-2015

Table 32: Economic Indicators, Vietnam, Government Structural Balance ($bn), 2008-2015

Table 33: Economic Indicators, Vietnam, General Government Net Debt ($bn), 2008-2015

Table 34: Economic Indicators, Vietnam, General Government Net Debt Forecast ($bn), 2016-2020

Table 35: Economic Indicators, Vietnam, Major Industries, Population Employed (million), 2014

Table 36: Demographics, Vietnam, Population (million), 2008-2015

Table 37: Demographics, Vietnam, Population (million), 2016-2020

Table 38: Demographics, Vietnam, Population, Urban and Rural Population Share (%), 2008-2015

Table 39: Demographics, Vietnam, Population, Urban and Rural Population Share Forecast (%), 2016-2020

Table 40: Demographics, Vietnam, Population Distribution by Age Group (%), 2008-2015

Table 41: Demographics, Vietnam, Population Distribution by Age Group Forecast (%), 2016-2020

Table 42: Demographics, Vietnam, Births (per 1,000 population), 2008-2015

Table 43: Demographics, Vietnam, Mortality (per 1,000 population), 2008-2015

Table 44: Demographics, Vietnam, Major Causes of Mortality, Number of Deaths (%), 2011

Table 45: Demographics, Vietnam, Children under Five, Mortality Rate (per 1,000 live births), 2008-2015

Table 46: Demographics, Vietnam, Immunization Rate (%), 2008-2013

Table 47: Demographics, Vietnam, Major Causes of Male Mortality, Number of Cases (‘000), 2011

Table 48: Demographics, Vietnam, Major Causes of Female Mortality (‘000), 2011

Table 49: Demographics, Vietnam, Gender Ratio (M/F), 2008-2015

Table 50: Demographics, Vietnam, Life Expectancy at Birth (years), 2008-2015

Table 51: Demographics, Vietnam, Gross Enrollment by Level of Education (%), 2008-2015

Table 52: Demographics, Vietnam, Unemployment Rate (%), 2008-2015

Table 53: Demographics, Vietnam, Number of Deaths by Disease (‘000), 2013

Table 54: Demographics, Vietnam, Major Diseases, DALYs (‘000), 2012

Table 55: Healthcare Infrastructure, Vietnam, Health Establishments, 2008-2015

Table 56: Healthcare Infrastructure, Vietnam, Number of Beds by Type of Establishment, 2008-2015

Table 57: Healthcare Infrastructure, Vietnam, Hospital Beds (per 1,000 population), 2008-2015

Table 58: Healthcare Infrastructure, Vietnam, Doctors (per 1,000 population), 2008-2015

Table 59: Healthcare Infrastructure, Vietnam, PM2.5 (µg/m3), 2008-2015

Table 60: Healthcare Infrastructure, Vietnam, CO2 Emissions (metric tons per capita), 2008-2015

Table 61: Healthcare Infrastructure, Vietnam, Nurses (per 1,000 population), 2008-2015

Table 62: Healthcare Infrastructure, Vietnam, Midwives (per 1,000 population), 2008-2015

Table 63: Healthcare Infrastructure, Vietnam, Pharmacists (per 1,000 population), 2008-2015

Table 64: Healthcare Expenditure, Vietnam, Healthcare Expenditure (% of GDP), 2008-2015

Table 65: Healthcare Expenditure, Vietnam, Public Healthcare Expenditure, Share of Major Components (%), 2013

Table 66: Healthcare Expenditure, Vietnam, Healthcare Expenditure, Public-Private Share (%), 2008-2015

Table 67: Healthcare Expenditure, Vietnam, Major Healthcare Trade Fairs, 2016

1.2 List of Figures

Figure 1: Pharmaceutical Market, Vietnam, Revenue ($bn), 2008-2015

Figure 2: Pharmaceutical Market, Vietnam, Revenue Forecast ($bn), 2016-2020

Figure 3: Pharmaceutical Market, Vietnam, Exports and Imports ($m), 2008-2015

Figure 4: Pharmaceutical Market, Vietnam, Supply Chain, 2015

Figure 5: Pharmaceutical Market, Vietnam, Distribution channels, 2015

Figure 6: Pharmaceutical Market, Vietnam, Generic Market Revenue ($bn), 2008-2015

Figure 7: Pharmaceutical Market, Vietnam, OTC Market Revenue ($bn), 2008-2015

Figure 8: Medical Device Market, Vietnam, Revenue ($m), 2008-2015

Figure 9: Medical Device Market, Vietnam, Revenue ($m), 2016-2020

Figure 10: Healthcare Market, Vietnam, Drivers and Barriers, 2016

Figure 11: Market Access, Vietnam, Overview of Healthcare System

Figure 12: Market Access, Vietnam, Overview of Healthcare System

Figure 13: Market Access, Vietnam, Health Insurance Population Coverage (%), 2008-2015

Figure 14: Market Access, Vietnam, Out-of-Pocket Expenditure (%), 2008-2015

Figure 15: Market Access, Vietnam, Change in Average Price of Healthcare Services (%), 2008-2015

Figure 16: Market Access, Vietnam, Marketing Authorization Procedure, 2015

Figure 17: Regulatory Landscape, Vietnam, Generic Drug Approval Process, 2015

Figure 18: Market Access, Vietnam, Patent Approval Process, 2014

Figure 19: Economic Indicators, Vietnam, GDP per Capita ($), 2008-2015

Figure 20: Economic Indicators, Vietnam, GDP per Capita ($), 2016-2020

Figure 21: Economic Indicators, Vietnam, GDP Annual Growth (%), 2008-2015

Figure 22: Economic Indicators, Vietnam, GDP Annual Growth (%), 2016-2020

Figure 23: Economic Indicators, Vietnam, GNI Per Capita ($), 2008-2015

Figure 24: Economic Indicators, Vietnam, Consumer Price Index, 2008-2015

Figure 25: Economic Indicators, Vietnam, Consumer Price Index, 2016-2020

Figure 26: Economic Indicators, Vietnam, Consumer Price Annual Change (%), 2008-2015

Figure 27: Economic Indicators, Vietnam, Currency Exchange Rate ($/VND) 2008-2015

Figure 28: Economic Indicators, Vietnam, FDI ($bn), 2008-2015

Figure 29: Economic Indicators, Vietnam, Foreign Exchange Reserves ($bn), 2008-2015

Figure 30: Economic Indicators, Vietnam, Imports of Goods and Services ($bn), 2008-2015

Figure 31: Economic Indicators, Vietnam, Exports of Goods and Services ($bn), 2008-2015

Figure 32: Economic Indicators, Vietnam, Government Structural Balance ($bn), 2008-2015

Figure 33: Economic Indicators, Vietnam, General Government Net Debt ($bn), 2008-2015

Figure 34: Economic Indicators, Vietnam, General Government Net Debt ($bn), 2016-2020

Figure 35: Economic Indicators, Vietnam, Major Industries, Population Employed (million), 2014

Figure 36: Demographics, Vietnam, Population (million), 2008-2015

Figure 37: Demographics, Vietnam, Population (million), 2016-2020

Figure 38: Demographics, Vietnam, Population, Urban and Rural Population Share (%), 2008-2015

Figure 39: Demographics, Vietnam, Population, Urban and Rural Population Share (%), 2016-2020

Figure 40: Demographics, Vietnam, Population Distribution by Age Group (%), 2008-2015

Figure 41: Demographics, Vietnam, Population Distribution by Age Group (%), 2016-2020

Figure 42: Demographics, Vietnam, Births (per 1,000 population), 2008-2015

Figure 43: Demographics, Vietnam, Mortality (per 1,000 population), 2008-2015

Figure 44: Demographics, Vietnam, Major Causes of Mortality, Number of Deaths (%), 2011

Figure 45: Demographics, Vietnam, Children under Five, Mortality Rate (per 1,000 live births), 2008-2015

Figure 46: Demographics, Vietnam, Immunization Rate (%), 2008-2015

Figure 47: Demographics, Vietnam, Major Causes of Male Mortality, Number of Cases (‘000), 2011

Figure 48: Demographics, Vietnam, Major Causes of Female Mortality, Number of Cases (‘000), 2011

Figure 49: Demographics, Vietnam, Gender Ratio (M/F), 2008-2015

Figure 50: Demographics, Vietnam, Life Expectancy at Birth (years), 2008-2015

Figure 51: Demographics, Vietnam, Gross Enrollment by Level of Education (%), 2008-2015

Figure 52: Demographics, Vietnam, Unemployment Rate (%), 2008-2015

Figure 53: Demographics, Vietnam, Number of Cases by Disease (‘000), 2012

Figure 54: Demographics, Vietnam, Major Diseases, DALYs (‘000), 2012

Figure 55: Healthcare Infrastructure, Vietnam, Health Establishments, 2008-2015

Figure 56: Healthcare Infrastructure, Vietnam, Number of Beds by Type of Establishment, 2008-2015

Figure 57: Healthcare Infrastructure, Vietnam, Hospital Beds (per 1,000 population), 2008-2015

Figure 58: Healthcare Infrastructure, Vietnam, Doctors (per 1,000 population), 2008-2015

Figure 59: Healthcare Infrastructure, Vietnam, PM2.5 (µg/m3), 2008-2015

Figure 60: Healthcare Infrastructure, Vietnam, CO2 Emissions (metric tons per capita), 2008-2015

Figure 61: Healthcare Infrastructure, Vietnam, Nurses (per 1,000 population), 2008-2015

Figure 62: Healthcare Infrastructure, Vietnam, Midwives (per 1,000 population), 2008-2015

Figure 63: Healthcare Infrastructure, Vietnam, Pharmacists (per 1,000 population), 2008-2015

Figure 64: Healthcare Expenditure, Vietnam, Healthcare Expenditure (% of GDP), 2008-2015

Figure 65: Healthcare Expenditure, Vietnam, Public Healthcare Expenditure, Share of Major Components (%), 2013

Figure 66: Healthcare Expenditure, Vietnam, Public-Private Share of Healthcare Expenditure (%), 2008-2015

Figure 67: Healthcare Market, Vietnam, Opportunities and Challenges, 2016
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Vietnamese Pharmaceutical Market to Reach $6.6 Billion by 2020

The pharmaceutical market in Vietnam will expand in value from $3.5 billion in 2015 to an estimated $6.6 billion by 2020, registering a compound annual growth rate of 13.8%, according to research and consulting firm.

The company’s latest report* states that the increasing elderly population, widespread preference for imported branded drugs, rising government support for the healthcare sector and the impending gains from the Trans-Pacific Partnership (TPP) will be the main drivers of growth for the Vietnamese pharmaceutical market during the forecast period.

Vietnam signed the TPP, a trade agreement between 12 countries, on February 4, 2016. It is expected that, once implemented, tariffs on pharmaceutical imports will fall to 0%, and patents on foreign pharmaceutical companies’ drugs will be extended from five to 10 years.

While the Vietnamese market is seen as attractive for pharmaceutical companies, drug prices are high compared with average incomes, which may hinder patient access to medicine. However, foreign pharmaceutical companies are able to generate more revenue not only due to patent protection, but also because locals believe imported drugs are much more effective and tend to prefer them over generics.

Domestic pharmaceutical companies focus mainly on generic drugs, with very low expenditure on R&D. This restricts the scope of domestic companies’ operations, forcing them to establish themselves either within Vietnam or through exports. At present, the five leading pharmaceutical companies in Vietnam are Sanofi, Hau Giang Pharmaceuticals (DHG Pharmaceuticals), Imexpharm, Traphaco and Domesco.

This report also states that the Drug Administration of Vietnam issues a new drug registration within 180 days of submission of the application, which is similar to the time it takes in other members of the Association of Southeast Asian Nations but is much shorter than in developed countries, including the US and the UK. Despite this, the application procedure is time-consuming, partly because the documents for biologics and vaccines must be submitted in Vietnamese.

The minimum requirement for obtaining approval for a pharmaceutical manufacturing facility in Vietnam is a Good Manufacturing Practice (GMP) certification. The legal documents required to import drugs are the Certificate of Pharmaceutical Product, the Certificate of Free Sale, and the GMP, or certification under an equivalent standard.

*CountryFocus: Healthcare, Regulatory and Reimbursement Landscape - Vietnam

This report provides analysis of the pharmaceutical space in Vietnam, and includes annualized market data from 2015 and forecast to 2020. It includes insights into the demographic, regulatory, and reimbursement landscape, and the healthcare infrastructure of Vietnam.

This report was built using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis conducted by a team of industry experts.
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