Vietnam Healthcare (Pharma and Medical Devices) Market Analysis, Regulatory, Reimbursement and Competitive Landscape

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Vietnam Healthcare Market Overview

The pharmaceutical market in Vietnam was valued at $2.7 billion in 2015. The market grew at a CAGR of more than 9% from 2015 to 2018. The 13th National Party Congress approved the 10-year socio-economic development strategy for 2021-30, defining a target for 2030 with the focus on pharmaceuticals development, pharmaceutical industry, medical instruments, improving research capacity, and actively producing vaccines and patent drugs.

The medical devices market in Vietnam was valued at $1.1 billion in 2017 and is predicted to expand at a CAGR of over 9% during 2017-2022. Vietnam’s medical device industry is import-driven, as local production can only meet the demand for basic supplies such as hospital beds, scalpels, cabinets, scissors, and disposables.

The Vietnam healthcare market report is an essential source of information on the analysis of the healthcare, regulatory, and reimbursement landscape in Vietnam. It identifies the key trends in the country’s healthcare market and provides insights into its demographic, regulatory, and reimbursement landscape, and healthcare infrastructure. Most importantly, the report provides valuable insights into the trends and segmentation of its pharmaceutical and medical device markets.

Vietnam pharmaceuticals market overview

Vietnam pharmaceuticals market overview

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Vietnamese medical devices market overview

Vietnamese medical devices market overview

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What are the market dynamics in the Vietnam pharmaceuticals market?

The pharmaceutical industry of Vietnam is highly import-driven, with its major partners being China and India. Vietnam consumes about 60,000 tons of pharmaceutical ingredients each year. According to mid-2018 statistics, the price of numerous pharmaceutical ingredients imported from China rose dramatically from 15% to 80%, causing the gross profits of many businesses to collapse.

What are the key market segments in the Vietname pharmaceuticals market?

The key market segments in the pharmaceuticals market in Vietname are generics, biologics, biosimilars, and over-the-counter (OTC).

Vietnam pharmaceuticals market, by segment

Vietnam pharmaceuticals market, by segment

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Who are the key players in the Vietnam pharmaceuticals market?

The key players in the Vietnamese pharmaceuticals market are F. Hoffmann-La Roche Ltd. (Roche), Novartis, GlaxoSmithKline (GSK), Pfizer, and Sanofi.

Vietnamese pharmaceuticals market, by key players

Vietnamese pharmaceuticals market, by key players

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What are the market dynamics in the Vietnam medical devices market?

The medical device industry in Vietnam has emerged as one of the most promising industries for international investment, as demand for medical equipment continues to rise. To support the business, the local government has provided tax concessions such as corporate income tax incentives, import duty reductions, quota exemptions, and land leasing fee exemptions or reductions.

Who are the key players in the Vietnam medical devices market?

The key players in the Vietnamese medical devices market are GE Healthcare, Stryker Corp (Stryker), B. Braun Melsungen AG (B. Braun), Terumo, and Getinge AB (Getinge).

Vietnam medical devices market, by players

Vietnam medical devices market, by players

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Market report scope (pharmaceuticals market)

Market size (2020) $2.7 billion
CAGR >9%
Review period 2015-2018
Segmentation by type Generics, Biologics, Biosimilars, and Over the Counter (OTC)
Key players F. Hoffmann-La Roche Ltd. (Roche), Novartis, GlaxoSmithKline (GSK), Pfizer, and Sanofi

Market report scope (medical devices market)

Market size (2021) $1.1 billion
CAGR >9%
Review period 2017-2022
Key players GE Healthcare, Stryker Corp (Stryker), B. Braun Melsungen AG (B. Braun), Terumo, and Getinge AB (Getinge)

Scope

The report provides information on the healthcare, regulatory, and reimbursement landscape in Vietnam, and includes:

  • An overview of the pharmaceutical and medical device markets, comprising market size, segmentation, and key drivers and barriers
  • Profiles and SWOT analyses of the major players in the pharmaceutical market: Roche, Novartis, GlaxoSmithKline (GSK), Pfizer, and Sanofi
  • Profiles and SWOT analyses of the major players in the medical device market: GE Healthcare, Stryker, B. Braun, Terumo, and Getinge
  • An insightful review of the COVID-19 epidemiology, COVID-19 impact and developments in the healthcare market, HealthTech landscape, reimbursement, and regulatory landscape, with analysis covering details of the country’s healthcare reimbursement process, regulatory agencies, and the approval processes for new drugs and medical devices
  • Detailed analysis of the country’s healthcare policy highlights, demographics, healthcare infrastructure, and healthcare expenditure
  • An overview of the opportunities for and challenges to growth in the Vietnamese healthcare market

Reasons to Buy

This report will enhance your decision-making capability by allowing you to: 

  • Develop business strategies by understanding the trends shaping and driving the Vietnamese healthcare market
  • Drive revenues by understanding the key trends, reimbursement and regulatory policies, pharmaceutical market segments, and companies likely to impact the Vietnamese healthcare market in the future
  • Formulate effective sales and marketing strategies by understanding the competitive landscape and analyzing competitors’ performance
  • Organize sales and marketing efforts by identifying the market categories and segments that present the most opportunities for consolidation, investment, and strategic partnership

Table of Contents

1. Table of Contents

1.1 List of Figures

1.2 List of Tables

2. Executive Summary

2.1 Executive Summary

2.2 Key Highlights: Facts about the Vietnamese Healthcare Market

2.3 Key Highlights: Healthcare Startups in Vietnam

2.4 Key Events: Vietnamese Healthcare Timeline, 2015–21

2.5 Key Events: Vietnam Pharmaceutical Market

2.6 Key Events: M&As, VC & PE Deals, Global Pharmaceutical Market, 2020–21

2.7 Key Events: Mergers and Acquisitions

2.8 Country Profile, Vietnam, 2021

3. Overview of Pharmaceutical Market

3.1 Pharmaceutical Market – Overview

3.2 Pharmaceutical Market – Exports

3.3 Pharmaceutical Market – Imports

3.4 Pharmaceutical Market – Supply Channels, Vietnam

3.5 Pharmaceutical Market – Market Segments

3.6 COVID-19 Epidemiology, Vietnam

3.7 COVID-19 Impact and Developments in the Healthcare Market, Vietnam

3.8 COVID-19 Clinical Trials Landscape, Vietnam

3.9 Pharmaceutical Market – Major Players

4. Overview of Medical Devices Market

4.1 Medical Device Market – Overview

4.2 Medical Devices Market – Major Players

5. Pharmaceutical and Medical Devices Market – Drivers and Barriers

5.1 Drivers

5.2 Barriers

6. Deal Analysis

6.1 Deal Analysis: Pharmaceutical Market, Vietnam, 2018–21

6.2 Deal Analysis: Medical Device Market, Vietnam, 2018–21

7. HealthTech Landscape

7.1 HealthTech Landscape, Vietnam

7.2 HealthTech Deals Landscape, Vietnam

7.3 Key HealthTech Deals, Vietnam

7.4 Adoption of Technology in Healthcare, Vietnam

7.5 Digital Regulations, Vietnam

7.6 HealthTech Landscape: Benefits and Risks, Vietnam

8. Market Access

8.1 Overview of Healthcare System, Vietnam

8.2 Reimbursement Process, Vietnam

8.3 Overview of Insurance Providers, Public Insurance, Vietnam

8.4 Overview of Insurance Providers, Private Insurance, Vietnam

8.5 Healthcare Spending and Prescription Drug Price Trend, Vietnam

8.6 Pricing Policies, Vietnam

8.7 Market Access: Key Events Timeline, Vietnam, 2010–21

8.8 Regulatory Landscape, Vietnam

8.8.1 Marketing Authorization for Pharmaceutical Products, Vietnam

8.8.2 Marketing Authorization for Medical Devices, Vietnam

8.8.3 Intellectual Property Rights, Patent, Vietnam

8.8.4 Intellectual Property Rights, Trademark, Vietnam

8.8.5 Clinical Trial Regulation Process, Vietnam

8.8.6 Pharmaceutical Clinical Trials Landscape, Vietnam

8.8.7 Medical Device Clinical Trials Landscape, Vietnam

8.8.8 Pharmaceutical Manufacturing and Licensing, Vietnam

8.8.9 Pharmaceutical Export and Import, Vietnam

8.8.10 Pharmaceutical Advertising Regulations, Vietnam

8.8.11 Pharmacy Regulations, Vietnam

8.8.12 Labeling and Packaging Regulations, Vietnam

9. Country Healthcare Landscape

9.1 Vietnam Healthcare Policy Highlights

9.2 Healthcare Facilities, Vietnam

9.3 Healthcare Parameters, Vietnam

9.4 Life Expectancy and Immunization Rate, Vietnam

9.5 Environmental Health, Vietnam

9.6 Healthcare Personnel, Vietnam

9.7 Disease Burden, Vietnam

9.8 Healthcare Expenditure, Vietnam

10 Trade Associations, Vietnam

11 Trade Fairs, Vietnam

12 Opportunities and Challenges

13 Appendix

13.1 Research Methodology

13.1.1 Coverage

13.1.2 Secondary Research

13.1.3 Forecasts

13.2 Bibliography

13.3 About GlobalData

13.4 Contact Us

13.5 Disclaimer

Table

Table 1: COVID-19 indicators (number of cases), Global and Vietnam, 2022

Table 2: COVID-19-related travel restrictions, Vietnam, 2020–22

Table 3: Available COVID-19 IVD products, Vietnam, 2021–22

Table 4: Pipeline COVID-19 IVD products, Vietnam, 2021-22

Table 5: COVID-19 approved vaccines, Vietnam, 2022

Table 6: COVID-19 vaccines trials, Vietnam, 2022

Table 7: List of digital health applications for COVID-19 management, Vietnam, 2022

Table 8: Difference between compulsory social insurance and voluntary social insurance, Vietnam, 2022

Table 9: Size and growth of Vietnam’s insurance market during 2015-19, Vietnam, 2021

Table 10: Fees for filing of patent, Vietnam, 2022

Table 11: Trademark fees, Vietnam, 2022

Table 12: Packaging of medicines, Vietnam, 2022

Table 13: Trade fairs, Vietnam, 2022

Figures

Figure 1: Pharmaceutical market, revenue ($B), Vietnam, 2015–21

Figure 2: Medical devices market, revenue ($B), Vietnam, 2017–22

Figure 3: Healthcare start-ups in Vietnam, 2022

Figure 4: Country profile, Vietnam, 2021

Figure 5: Pharmaceutical market, revenue ($B), Vietnam, 2015–21

Figure 6: Pharmaceutical market, revenue forecast ($B), Vietnam, 2022–26

Figure 7: Pharmaceutical exports ($M), Vietnam, 2013–20

Figure 8: Top export partners, Vietnam, 2020

Figure 9: Pharmaceutical imports ($B), Vietnam, 2013–20

Figure 10: Top import partners, Vietnam, 2020

Figure 11: Pharmaceutical supply chain, Vietnam, 2022

Figure 12: COVID-19 cases, Vietnam, 2020–22

Figure 13: COVID-19 deaths, Vietnam, 2020–22

Figure 14: COVID-19 stringency index, Vietnam, 2020–22

Figure 15: COVID-19 containment and health index, Vietnam, 2020–22

Figure 16: COVID-19 fiscal stimulus timeline, Vietnam, 2020–22

Figure 17: COVID-19 vaccine doses administration, number of vaccine doses administered, Vietnam, 2022

Figure 18: Prioritized people for vaccination, Vietnam, 2022

Figure 19: Classification of COVID-19 cases, Vietnam, 2022

Figure 20: COVID-19 clinical trials count by trial status, Vietnam, 2021–22

Figure 21: COVID-19 clinical trials count by trial phase, Vietnam, 2021–22

Figure 22: Top COVID-19 clinical trials sponsors by trial count, Vietnam, 2021–22

Figure 23: Medical devices market, revenue ($B), Vietnam, 2017–22

Figure 24: Medical devices market, revenue ($B) of major companies, Vietnam, 2020

Figure 25: Deal value and deal count, pharmaceutical market, Vietnam, 2018–21

Figure 26: Deal value and deal count subtypes, pharmaceutical market, Vietnam, 2018–21

Figure 27: Deal value and deal count, quarterly, pharmaceutical market, Vietnam, 2018–21

Figure 28: Top therapy areas by deal value ($M), pharmaceutical market, Vietnam, 2018–21

Figure 29: Top therapy areas by deal count, pharmaceutical market, Vietnam, 2018–21

Figure 30: M&A deals by quarter, pharmaceutical market, Vietnam, 2018–21 (by value and by number)

Figure 31: PE deals by quarter, pharmaceutical market, Vietnam, 2018–21 (by value and by number)

Figure 32: Deal value and deal count, medical devices market, Vietnam, 2018–21

Figure 33: Deal value and deal count subtypes, medical devices market, Vietnam, 2018–21

Figure 34: Deal value and deal count, quarterly, medical devices market, Vietnam, 2018–21

Figure 35: Top equipment sectors by deal value ($M), medical devices market, Vietnam, 2018–21

Figure 36: Top equipment sectors by deal count, medical devices market, Vietnam, 2018–21

Figure 37: M&A deals by quarter, medical devices market, Vietnam, 2018–21 (by value and by number)

Figure 38: PE deals by quarter, medical devices market, Vietnam, 2018–21 (by value and by number)

Figure 39: Digital interventions recommended by WHO, Vietnam, 2022

Figure 40: Deal value ($M) and deal count, HealthTech, Vietnam, 2017–21

Figure 41: Deal value and deal count by sector, HealthTech, Vietnam, 2017–21

Figure 42: Organization of healthcare system, Vietnam, 2022

Figure 43: Structure of health insurance system, Vietnam, 2022

Figure 44: Benefit fields of VSS, Vietnam, 2022

Figure 45: OOP expenditure (% of total expenditure on health), Vietnam, 2013–21

Figure 46: Change in price trend in the healthcare sector (medicines and medical Services) (in %), Vietnam, 2017–19

Figure 47: Organization of MOH, Vietnam, 2021

Figure 48: Procedure of marketing authorization of new pharmaceutical drugs, Vietnam, 2022

Figure 49: Procedure for declaration of applied standards of Class-A or Class-B medical device, Vietnam, 2022

Figure 50: Application process for Class C and Class D medical devices, Vietnam, 2022

Figure 51: Patent approval process, Vietnam, 2022

Figure 52: Trademark approval process, Vietnam, 2022

Figure 53: Pharmaceutical clinical trials count by trial status, Vietnam, 2020–22

Figure 54: Pharmaceutical clinical trials count by indication, Vietnam, 2020–22

Figure 55: Pharmaceutical clinical trials count by phase, Vietnam, 2020–22

Figure 56: Top five pharmaceutical clinical trials sponsors by count, Vietnam, 2020–22

Figure 57: Medical devices clinical trials count by trial status, Vietnam, 2020–22

Figure 58: Medical devices clinical trials count by device category, Vietnam, 2020–22

Figure 59: Medical devices clinical trials count by indication, Vietnam, 2020–22

Figure 60: Top five medical devices clinical trials sponsors by count, Vietnam, 2020–22

Figure 61: Process of setting up a drug manufacturing company, Vietnam, 2022

Figure 62: Process of issuing import license for medical devices, Vietnam, 2022

Figure 63: Fine and charges on violation of pharmaceutical advertising law, Vietnam, 2022

Figure 64: Outer packaging label contents, Vietnam, 2022

Figure 65: Outer packaging label of medicinal ingredients, Vietnam, 2022

Figure 66: Number of hospitals, Vietnam, 2013–21

Figure 67: Number of regional polyclinics, Vietnam, 2013–21

Figure 68: Hospital beds, (per 1,000), Vietnam, 2013–21

Figure 69: Hospital beds in different healthcare facilities (in 1,000), Vietnam, 2013–21

Figure 70: Life expectancy at birth (years), Vietnam, 2013–21

Figure 71: Immunization rate (%), Vietnam, 2013–21

Figure 72: PM2.5 (µg per m3), Vietnam, 2013–21

Figure 73: CO2 emissions (metric tons per capita), Vietnam, 2013–21

Figure 74: Doctors (per 1,000 population), Vietnam, 2013–21

Figure 75: Nurses (per 1,000 population), Vietnam, 2013–21

Figure 76: Pharmacists (per 1,000 population), Vietnam, 2013–21

Figure 77: Midwives (per 1,000 population), Vietnam, 2013–21

Figure 78: Major causes of mortality (per 100,000 population), Vietnam, 2019

Figure 79: Major causes of male mortality (per 100,000 population), Vietnam, 2019

Figure 80: Major causes of female mortality (per 100,000 population), Vietnam, 2019

Figure 81: DALYs by major disease (per 100,000 population), Vietnam, 2019

Figure 82: Healthcare expenditure as percentage of GDP (%), Vietnam, 2013–21

Figure 83: Health expenditure share (% of total health spending), Vietnam, 2013–21

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