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Vietnam Generic Drugs Market, By Type (Small Molecule Generics v/s Biosimilars), By Mode of Drug Delivery (Oral, Topical, Parenteral, Others), By Form (Tablet, Capsule, Injection, Others), By Source (In House v/s Contract Manufacturing Organizations), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), By Application (Cardiovascular Diseases, Diabetes, Neurology, Oncology, Anti-Inflammatory Diseases, Others), By Region, Competition Forecast & Opportunities, 2027
Market Report I 2022-09-01 I 73 Pages I TechSci Research
Vietnam generic drugs market is projected to witness growth at a significant rate during the forecast period, 2023-2027. The market growth can be attributed to the rising demand for affordable drugs and the growing need for over-the-counter drugs against branded drugs.
One of the main factors boosting the growth of the Vietnam generic drugs market in the coming five years is the nation's quickly developing pharmaceutical industry. Sales of generic medications are surging as a result of higher pharmaceutical product demand, which is supporting the market growth. The value of pharmaceutical sales in Vietnam in 2018 was USD5.34 billion. The market for generic pharmaceuticals in Vietnam is expected to expand over the next five years due to further medical advancements and consumer desire for cost-effective pharmaceutical items.
The generic medicine market in Vietnam is considerably larger than the market for branded drugs. Branded medication sales are restricted nationwide due to stringent laws and international patent law enforcement. Therefore, the nation is dependent on the sales of generic medications, which have the same active component as they have passed the same safety tests but are marketed under other names.
Since the medications for chronic diseases are costly and typically prescribed for a longer duration, the population prefers generic drugs. Thus, the rapidly rising incidences of chronic diseases are significantly raising the demand for generic drugs. Therefore, increasing rates of conditions including diabetes, high blood pressure, and cardiovascular disease necessitate lengthy prescriptions for medications, which supports the expansion of the Vietnam generic drugs industry during the coming five years.
The Vietnam generic drugs market segmentation is based on the type, mode of drug delivery, form, source, distribution channel, application, competitional landscape, and regional distribution. Based on type, the market is differentiated between small molecule generics and biosimilars. The biosimilars segment is expected to dominate the Vietnam generic drugs market in the forecast period, owing to the increasing demand for effective and efficient treatment methods. Besides, the rising prevalence of chronic disorders is also substantiating the segment growth.
Major players operating in the Vietnam generic drugs market are DHG Pharmaceutical Joint Stock Company, Traphaco Joint Stock Company, Pymepharco Joint Stock Company, Hatay Pharmaceutical Joint Stock Company, Mekophar Chemical Pharmaceutical JSC, Imexpharm Corporation, OPC Pharmaceutical Joint Stock Company, among others.
Years considered for this report:
Historical Years: 2017-2020
Base Year: 2021
Estimated Year: 2022E
Forecast Period: 2023F-2027F
Objective of the Study:
- To analyze the historical growth in the market size of the Vietnam generic drugs market from 2017 to 2021.
- To estimate and forecast the market size of Vietnam generic drugs market from 2022E to 2027F and growth rate until 2027F.
- To classify and forecast the Vietnam generic drugs market based on type, mode of drug delivery, form, source, distribution channel, application, region, and company.
- To identify the dominant region or segment in the Vietnam generic drugs market.
- To identify drivers and challenges for the Vietnam generic drugs market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Vietnam generic drugs market.
- To identify and analyze the profiles of leading players operating in the Vietnam generic drugs market.
- To identify key sustainable strategies adopted by market players in Vietnam generic drugs market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers who could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers, distribution channels and presence of all major players across the country.
TechSci Research calculated the market size of the Vietnam generic drugs market using a bottom up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these products and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- Market research and consulting firms
- Government bodies such as regulating authorities and policy makers
- Organizations, forums, and alliances
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as product manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, Vietnam generic drugs market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Vietnam Generic Drugs Market, By Type:
o Small Molecule Generics
o Biosimilars
- Vietnam Generic Drugs Market, By Mode of Drug Delivery:
o Oral
o Topical
o Parenteral
o Others
- Vietnam Generic Drugs Market, By Form:
o Tablet
o Capsule
o Injection
o Others
- Vietnam Generic Drugs Market, By Source:
o In House
o Contract Manufacturing Organizations
- Vietnam Generic Drugs Market, By Distribution Channel:
o Hospital Pharmacies
o Retail Pharmacies
o Online Pharmacies
- Vietnam Generic Drugs Market, By Application:
o Cardiovascular Diseases
o Diabetes
o Neurology
o Oncology
o Anti-Inflammatory Diseases
o Others
- Vietnam Generic Drugs Market, By Region:
o Northern Region
o Central Region
o Southern Region
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in Vietnam generic drugs market.
Available Customizations:
With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to five).
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Voice of Customer
5. Impact of COVID-19 on Vietnam Generic Drugs Market
6. Vietnam Generic Drugs Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Type (Small Molecule Generics v/s Biosimilars)
6.2.2. By Mode of Drug Delivery (Oral, Topical, Parenteral, Others)
6.2.3. By Form (Tablet, Capsule, Injection, Others)
6.2.4. By Source (In House v/s Contract Manufacturing Organizations)
6.2.5. By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies)
6.2.6. By Application (Cardiovascular Diseases, Diabetes, Neurology, Oncology, Anti-Inflammatory Diseases, Others)
6.2.7. By Company (2021)
6.2.8. By Region
6.3. Product Market Map
7. Vietnam Small Molecule Generic Drugs Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Mode of Drug Delivery
7.2.2. By Form
7.2.3. By Source
7.2.4. By Distribution Channel
7.2.5. By Application
8. Vietnam Biosimilar Generic Drugs Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Mode of Drug Delivery
8.2.2. By Form
8.2.3. By Source
8.2.4. By Distribution Channel
8.2.5. By Application
9. Market Dynamics
9.1. Drivers
9.2. Challenges
10. Market Trends & Developments
11. Policy & Regulatory Landscape
12. Vietnam Economic Profile
13. Competitive Landscape
13.1. Competition Outlook
13.2. Company Profiles
13.2.1. DHG Pharmaceutical Joint Stock Company
13.2.2. Traphaco Joint Stock Company
13.2.3. Pymepharco Joint Stock Company
13.2.4. Hatay Pharmaceutical Joint Stock Company
13.2.5. Mekophar Chemical Pharmaceutical JSC
13.2.6. Imexpharm Corporation
13.2.7. OPC Pharmaceutical Joint Stock Company
14. Strategic Recommendations
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