Vietnam Adult Malignant Glioma Therapeutics Market Analysis

Vietnam Adult Malignant Glioma Therapeutics Market Executive Summary

The Vietnam Adult Glioma Therapeutics Market is valued at around $11 Mn in 2022 and is projected to reach $22 Mn by 2030, exhibiting a CAGR of 9.13% during the forecast period.

Brain tumors known as gliomas are connected to three different types of glial cells found in the brain: oligodendrocytes, ependymal cells, and astrocytes (also known as GBM or glioblastoma multiforme). The degree of malignancy in gliomas determines their grade. The World Health Organization's (WHO) classification system, which goes from Grade I (very aggressive) to Grade IV (very severe), is often applied. Gliomas can be treated with surgery, which involves removing a portion of the tumor, radiation therapy, or chemotherapy, which involves using chemicals to target and kill cancer cells. Many of the most costly, cutting-edge therapeutic approaches for gliomas are still under investigation.

Gliomas have become more common in Asia, especially Vietnam, in the recent past. The aging of the population, advancements in diagnostic technology, and growing public knowledge of brain tumours are probably the causes of this development. The incidence rates of glioma differ considerably even between nations. These differences can be caused by a variety of factors, including lifestyle choices, access to healthcare, and exposure to the environment. Vietnam's pharmaceutical sector heavily relies on imported drugs, particularly specialized ones like glioma treatments, with local companies focusing on generic versions for the price-sensitive market while the country lacks regional participants, creating opportunities for new drugs to capture market share in response to the growing demand for effective glioma treatments.

With temozolomide, the standard-of-care chemotherapy for glioblastoma, Merck & Co. probably occupies the top rank because of its well-established market presence and extensive usage. Because they are less expensive, generic equivalents from Stada Vietnam and maybe Mekophar may lead in volume but not necessarily in income.

Market Dynamics

Market Drivers

Import of Drugs: Although Vietnam's local pharmaceutical sector is expanding, it remains primarily depends on imported products, particularly sophisticated and specialist ones like glioma treatments. Generic versions of various chemotherapeutic medications used in glioma treatment are produced by local businesses like Stada Vietnam and Mekophar; nevertheless, their primary target market is the price-sensitive group. Vietnam is mostly dependent on imports from international pharmaceutical firms like Merck, Roche, and Bristol-Myers Squibb for more recent, targeted medicines and immunotherapy medications.

Advancements in the Global Context: Targeted therapies, immunotherapy, and personalized medicine are a few of the expanding trends in the adult lymphoma therapeutics market. Increased insurance coverage and government approvals will make the Philippines' distinctive treatment options more accessible, which will spur market growth.

Lack of Regional Participants: In an environment where there is minimal local rivalry, new drugs have the potential to take a sizable market share if they successfully fulfill unmet criteria and provide competitive costs. Because gliomas are becoming more common and well-known, there is an increasing demand for effective treatment options. This requirement can be satisfied by novel medications, which can introduce state-of-the-art therapies and customized health plans.

Market Restraints

Restricted Coverage: The availability of glioma diagnosis and treatment is restricted in rural regions due to the frequent absence of trained healthcare professionals and specialized cancer care facilities. Although the health insurance system in Vietnam is growing, a significant portion of the population may not have access to sophisticated glioma therapy due to insufficient coverage.

Lack of Awareness: Lack of knowledge of glioma symptoms and available treatments, particularly in rural regions, might cause lost opportunities for early intervention and delay the diagnosis. Patients as well as healthcare providers do not have adequate knowledge about the safest and latest advanced treatments available in the market.

Restricted Infrastructure: Vietnam lacks neuro-oncologists and oncologists skilled in the diagnosis and treatment of gliomas. The lack of research capability in Vietnam regarding glioma therapies is also impeding the development of treatment alternatives customized for the Vietnamese populace. Treatment quality and results may suffer from a lack of specialist medical equipment, such as sophisticated imaging devices and radiation therapy facilities.

Healthcare Policies and Regulatory Landscape

The country has implemented a four-tiered hierarchical healthcare system that provides everyone access to health insurance coverage and places an emphasis on preventative medicine and health promotion. The government has focused on improving equity and efficiency in the provision of healthcare since social health insurance was established as the primary public financing source for healthcare. As of 2020, almost 87% of the population in the nation was covered by health insurance. The need for state-of-the-art medical equipment and top-notch services is propelling the healthcare sector's progress and generating investment opportunities. The regulatory bodies in Vietnam that manage the registration of pharmaceutical products and medical equipment are the Drug Administration of Vietnam (DAV) and the Department of Medical Equipment and Health Works (DMEHW), respectively. Pre-market evaluations, which include thorough dossier reviews and potential clinical trials to guarantee that only safe and effective products are introduced to the market, ensure the quality, safety, and efficacy of pharmaceuticals, medical devices, and traditional medicines. Post-market surveillance is kept up-to-date to quickly resolve any safety concerns.

Competitive Landscape

Key Players

• Roche
• Novartis
• Merck & Co.
• Pfizer
• Bristol-Myers Squibb
• AbbVie
• Stada Vietnam
• Mekophar
• Boston-Vietnam Pharma
• Novogene