Vietnam Addiction Therapeutics Market Report 2022 to 2030

Vietnam Addiction Therapeutics Market Analysis

$ 3999

Vietnam addiction therapeutics market was valued at $51 Mn in 2022 and is estimated to reach $88 Mn in 2030, exhibiting a CAGR of 7.13% during the forecast period. The growth of programs aimed at increasing drug knowledge and avoiding substance usage is one of the main drivers of the addiction therapeutics market. Dominant key players operating in the market include Indivior, Alkermes, Reckitt Benckiser, Otsuka Pharmaceutical Co., Pfizer, Mallinckrodt, Purdue Pharma L.P., GlaxoSmithKline, Teva Pharmaceutical and Novartis

ID: IN10VNPH424 CATEGORY: Pharmaceuticals GEOGRAPHY: Vietnam AUTHOR: Medha Sansanwal

Buy Now

Vietnam Addiction Therapeutics Market Executive Summary

Vietnam addiction therapeutics market was valued at $51 Mn in 2022 and is estimated to reach $88 Mn in 2030, exhibiting a CAGR of 7.13% during the forecast period.

Addiction is a chronic medical condition defined by obsessive drug seeking and usage despite negative effects. A variety of scientifically proven pharmacological and psychological interventions are included in addiction therapies, with the aim of supporting patients in quitting drug and alcohol usage and addressing the root causes of their addiction. Addiction therapies provide tailored care and support in an effort to meet each person's specific requirements and promote long-term recovery. Tailored care in addiction therapy involves an individualized approach that considers various factors, such as the type of addiction, the severity of the substance use disorder, co-occurring mental health conditions, personal preferences, social support systems, and any underlying physical health issues. By considering these individualized aspects, addiction therapies aim to create a comprehensive treatment plan that may include a combination of pharmacological interventions, behavioural therapies, counselling, support groups, and other evidence-based approaches.

Vietnam's drug-related death toll had surpassed 2,100, or about 36 deaths per Mn people aged 15 to 64. With one of the highest mortality rates in East and South East Asia, primarily from opioids, Vietnam is among the countries with the alarming rate. Drug-related problems are still very much present in Vietnam, even in the face of strict drug control legislation and a decline in the production of illicit opium. The first ten months of 2020 saw 22,979 drug-related violations, averaging nearly 2,300 cases per month, surpassing the total violations in all of 2019, which recorded 19,862 cases, averaging more than 1,800 cases per month. Significant drug interceptions have happened, including the seizure of 3,000 kg of heroin and nearly 300 kg of methamphetamine. Another event involved 1.1 tons of drugs that were linked to a trafficking organization. The average population uses 81% of tobacco products, 47% of alcohol, 32% of heroin, 24% of injectable drugs, and 12% of illicit substances.

The main medication used in addiction treatment is buprenorphine. Patients and healthcare professionals now recognize and trust brands like Subutex, Butrans, and Suboxone. While Revia is the most widely available brand of naltrexone, Campral is the most preferred option for acamprosate.

Market Dynamics

Market Growth Drivers

Government Initiatives: Government support and initiatives that prohibit drug abuse and promote addiction treatment may lead to growth in the market. Vietnam's efforts to prevent drug use through extensive programs, public health campaigns, and publicly available treatment choices may contribute to the demand for drugs used in addiction treatment.

Increasing Awareness and Recognition: There is a growing need for more addiction therapeutic drugs and therapies as a result of increased efforts to address addiction and the growing awareness of substance abuse as a serious public health issue. The market for addiction therapies will expand as a result of the increased recognition of addiction as a serious public health issue.

Changing Societal Attitudes and Reduced Stigma: Reducing Stigma and Changing Societal Attitudes Stigma has decreased as a result of a steady change in society's views regarding addiction as a medical illness as opposed to a moral failing. People are more likely to seek treatment as a result of this shift, which increases the need for easily accessible and all-encompassing addiction therapy, driving the market's expansion.

Market Restraints

High Cost of Treatment: For those seeking therapy or recovery, high out-of-pocket expenses for addiction treatment and restricted insurance coverage may provide financial hurdles. If these financial barriers prevented customers from using these services, the market would not be able to grow.

Limited Public Awareness: Despite government efforts to raise public awareness of addiction and treatment options, the general public may still be ignorant of the entire spectrum of options. This lack of understanding impeding the market's growth may have an effect on the demand for drugs and other services for the treatment of addiction.

Stigma and Perception: The stigma associated with addiction and mental health issues may make it more difficult for drugs to be adopted for addiction rehabilitation. Social stigma may have an impact on the demand for addiction treatment drugs and the growth of the addiction treatment market by preventing people from getting the proper therapy.

Healthcare Policies and Regulatory Landscape

The Ministry of Health (MOH) in Vietnam is in charge of healthcare policies and laws relating to medications used for addiction treatment. Drug Administration of Vietnam (DAV) operates under the MOH's jurisdiction. Before approving a drug, the Drug Administration of Vietnam (DAV) verifies its safety, effectiveness, and quality through thorough assessments, documentation, and adherence to strict standards. The formulation of the medication, manufacturing procedures, outcomes of clinical trials, and proof of adherence to Good Manufacturing Practices (GMP) must all be included in the application. The nation runs public health campaigns to increase awareness about substance misuse, but there are still issues with how to allocate resources, including funding for treatment programs that are comprehensive and for the infrastructure of the healthcare system.

Competitive Landscape

Key Players

Indivior
Alkermes
Reckitt Benckiser
Otsuka Pharmaceutical Co.
Pfizer
Mallinckrodt
Purdue Pharma L.P.
GlaxoSmithKline
Teva Pharmaceutical
Novartis.

1. Executive Summary
1.1 Disease Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Patient Journey
1.6 Health Insurance Coverage in Country
1.7 Active Pharmaceutical Ingredient (API)
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Epidemiology of Disease
2.2 Market Size (With Excel & Methodology)
2.3 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Vietnam Addiction Therapeutics Market Segmentation

By Treatment Type

Opioid Addiction Treatment
Alcohol Addiction Treatment
Nicotine Addiction Treatment
Other Substance Addiction Treatment

By Drug Type

Buprenorphine
Naltrexone
Bupropion
Disulfiram
Nicotine Replacement Products
Varenicline
Others

By Treatment Centre

Inpatient Treatment Centre
Residential Treatment Centre
Outpatient Treatment Centre

By Distribution Channel

Hospital Pharmacies
Medical stores
Online Pharmacies
Others

Insights10 will provide you with the reports within 10 key parameters which are:

Market Overview
Market Growth Drivers & Restraints
Epidemiology of Disease Type
Market Segmentation
Market Share
Competitive Landscape
Key Company Profiles
Healthcare Policies & Regulatory Framework
Reimbursement Scenario
Factors Driving Future Growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers, and researchers across countries through which we engage with local experts to gather key data points and assumptions about each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain a high level of accuracy and consistency. The market data is analyzed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, and market share as well as a segment-level analysis of the specific market. Our report includes precise, to-the-point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.

Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:

Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameters and micro indicators. The macro parameters include changes in government policies, demand and supply of the market, government intervention programs, and major market share. The micro indicators are GDP growth, market size, market volume, etc. We also understand nuances specific to each country like the US, Canada, India, Germany, etc., and have worked across 60+ countries and hence not only understand global trends but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. starting with the large overall market and segmenting different areas and the bottom-up approach i.e. starting with population and epidemiology and rolling up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach is mainly used for new product forecasting and the bottom-up approach is used for demand estimation of any product for different countries summed up to form the total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases, and company-level averages, etc.

We make sure to finalize the numbers in alignment with the market research. Firstly, our internal experts ensure thorough validation and checking to ensure accurate and precise analysis and then validation is also done using a multiple-data analysis model. Two-level validation is done and entails the finalization of the report scope and the way of representation pattern.

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analyzed and synthesized. The second series of interviews are done if necessary to check and validate. The future opportunities are analyzed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results is then, interpreted by considering the following parameters: (a partial list)

Establishing market drivers and trends
Analyzing the regulatory landscape to understand future growth
Market Segment based analysis to obtain revenue/volume
Analyzing current needs and determining penetration to estimate the market

Insights: Our reports deliver actionable insights backed with supporting facts and figures to assist you in achieving exemplary growth. Our in-depth analyses are interspersed with relevant insights and statistics to oﬀer an executive-level view of a given market. The description helps in correlating many minor factors affecting the market and their impact on the different segments within the market.

Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current, and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumption.

The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.