Report Description of the Vietnam Dermatology Treatment Drugs Market Analysis
Research Scope and Assumption
- The report provides the market value for the base year 2020 and a yearly forecast up to 2028 in terms of revenue (USD billion)
- The key industry dynamics, regulatory scenario, reimbursement scenario, major market trends, and drug markets are evaluated to understand their impacts on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis
- We have used the combination of top-down and bottom-up approach for market sizing, analyzing key regional markets, dynamics, and trends for various solutions, services, and end uses
- All market estimates and forecasts have been validated through primary interviews with the Key Industry Players (KIPs) and secondary analysis
- Inflation has not been accounted for in order to estimate and forecast the market
- Numbers may not add up due to rounding off
Reason to buy the report:
- Facilitate decision-making based on strong current and forecast data for Vietnam Dermatology Treatment Drugs Market Analysis
- Develop strategies based on the latest regulatory framework
- Strategically analyze micro-markets with respect to individual growth trends, future prospects, and their contribution to the market
- Analyze competitive developments such as expansions, investments, mergers & acquisitions, new product developments, and research & developments in the Vietnam Dermatology Treatment Drugs Market Analysis
- Analyze the opportunities in the market for stakeholders and draw a competitive landscape for market leaders
- To strategically profile key players and comprehensively analyze their market shares and core competencies
- We have technically sound team which do a deep dive research and also provide strategy based consulting analysis
Vietnam Dermatology Treatment Drugs Market Analysis Executive Summary
The Departments of Dermatology in Vietnam had its humble beginnings. The Vietnam skin care products market is expected to witness significant growth due to rise in disposal income and rise in young generation population in the country. Moreover, increase in trend of moderate trade and rise in demand for premium products & brands are expected to offer remunerative opportunities for expansion of Vietnam skin care products market.
Market Size and Key Findings
The Vietnam Dermatology Treatment Drugs Market Analysis size stood at around USD xx% billion in 2020 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of xx% during the forecast period.
Market Growth Drivers Analysis
With rapid increase in the middle-class population in Southeast Asia, Vietnam has been experiencing notable growth in its retail sector. This Vietnam skin care products market trend is anticipated to continue in near the future, owing to presence of relatively young population demographics. Low income consumers are witnessing increase in their spending power, which is anticipated to impact their purchasing preferences with regard to cosmetics products. Such consumers were increasingly drawn to more modern products, often offering added value features. Moreover, the expansion of digital retail channels in Vietnam is one of the key trends expected to contribute toward the growth of the market.
Stringent Regulations for Dermatology Drugs and High Cost of Dermatology Drugs are assumed to be restraining the Dermatology Drugs Market.
Covid-19 Market Impact Analysis
Amidst the lockdown implemented due to the outbreak of COVID-19, growth of skin care products market in Vietnam is likely to dissuade owing to labefaction of tourism across the country. Skin care products manufacturing companies have affected to a larger extent due to disrupted supply chain amid the Covid-19 outbreak. In addition, shutdown of beauty salons amid lockdown has reduced the demand for skin care products across Vietnam. Consumers prefer to buy skin care products from the online sales platform instead of buying from specialty stores to avoid transmission of the coronavirus. This shift in purchasing behavior has affected the market.
Players operating in the global dermatology drugs market include Lupin, Novartis AG, F. Hoffmann-La Roche Ltd, Pfizer Inc., Sanofi, GlaxoSmithKline plc, Amgen Inc., Eli Lilly and Company, AstraZeneca, AbbVie Inc, Johnson & Johnson Services. Inc, Galderma laboratories L.P., LEO Pharma A/S, Merck & Co., Inc, Bausch Health, and Bristol-Myers Squibb Company.
Products in Pipeline
- The new Medlac facility produces Betalactam products and non-Betalactam products in jar, pipe and tablet form. It conducts activities such as research, and measurement and control of the quality of products produced at the factory. It also provides quality control services to individuals and organisational clients, both internal and external.
Notable Recent Deals
- The World Health Academy of Dermatology, the Vitiligo Research Foundation, the University of Parma-Italy and the University of Rome Guglielmo Marconi, Rome-Italy have successfully joined Vietnamese Dermatology Community in the ambitious project of positioning Vietnam in the Dermatologic Olympus.
- In April 2019, LEO Pharma announced the expansion of its existing partnership with Elektrofi for the development of convenient system for dermatology treatments. This is expected to reduce the time required for the treatment.
- In January 2020, Eli Lilly and Company announced that they have acquired Dermira, which is a biopharmaceutical company engaged in the introduction of novel therapies to treat the chronic skin conditions in a much better way.
- Medlac is an Italy-based pharmaceutical company specialising in dermatological products. The company officially inaugurated a new 10,000m² manufacturing plant in Vietnam in April 2011. The facility will manufacture and supply dermatological and transdermic products to the domestic and international markets.
Healthcare Policies and Regulatory Landscape
Policy changes and Reimbursement scenario
Vietnamese Dermatology is deeply concerned with any possible marketing orientated lucrative therapies, thus emphasising the risk/benefits ratio of “old-traditional” versus “new” therapeutic strategies. This special issue show the efficacy and safety of our Vietnamese approach continuously embracing the concept that “old and traditional is beautiful when safe, effective and cheap”. The aim of our special issue is to present some pearls of the Vietnamese Dermatology devoted to the description of the national and hopefully international declining of traditional therapies.
1st ASD Comprehensive Dermatopathology Review Course:
This is a 5-day dermatopathology workshop for beginners, residents, or faculties who are interesting but not familiar with skin pathology. Either dermatologist or pathologist is welcome to attend. It’s a comprehensive course covering inflammatory, infection, and tumors. The participants will go through twenty 90-minute sessions in the course. Every session has didactic lecture the students need to interpret virtual slides by themselves. This online registration is opened for international participants only. For Vietnamese doctors, please contact National Hospital of Dermatology and Venereology in Hanoi for registration.