Vietnam Allergy Therapeutics Market Analysis

Vietnam Allergy Therapeutics Market Executive Summary

Vietnam allergy therapeutics market was valued at $116 Mn in 2022 and is estimated to reach $194 Mn in 2030, exhibiting a CAGR of 6.63% during the forecast period.

Allergens are compounds found in the environment that periodically cause immunological reactions known as allergies. Dust mites, pollen, mildew, and specific foods like milk, eggs, soy, and almonds are examples of common allergies. Allergy reactions can show up as a range of symptoms, from minor ones like a runny nose and itchy eyes to more dangerous ones like anaphylaxis, which can result in breathing difficulties and unconsciousness. Immunotherapy, avoiding allergens, and prescription drugs such as nasal corticosteroids and antihistamines are a few possible treatment alternatives.

Vietnamese adults have a lifetime prevalence of 5.7% for doctor-diagnosed food allergies, with the most prevalent allergens being shellfish and beef, at 2.6% for shellfish. Vietnamese people have a greater incidence of allergic illnesses, like urticaria, allergic rhinitis, and atopic dermatitis (32.9%, 18.2%, and 5.2%, respectively). It has been determined that the main allergens sensitizing people to these diseases are house dust mites. Influential elements that could lead to a possible increase in allergy prevalence include environmental changes and increased urbanization. In order to fully comprehend the scope of allergy cases and create efficient mitigation and management plans, it is imperative that communities adapt to changing environmental dynamics and overcome the obstacles that prevent diagnosis and treatment from being accessible.

By starting a Phase 3 clinical trial in Vietnam in October 2023 to evaluate the safety and effectiveness of Dupixent (dupilumab) for the treatment of severe chronic rhinosinusitis with nasal polyps (CRSwNP), Pfizer completed a major advancement. This could potentially lead to more therapy options for Vietnamese people who suffer from nasal allergies. A local pharmaceutical company called DHG Pharma (Dược Hậu Giang) made headlines in September 2023 when it started a clinical study for a new generic version of desloratadine, a second-generation antihistamine intended to reduce allergy symptoms.

Market Dynamics

Market Growth Drivers

Increased Awareness and Diagnosis: Early and more accurate allergy diagnoses lead to greater access to healthcare, public health campaigns, and educational initiatives, all of which motivate individuals to seek treatment. The market for allergy medicines is expanding as a result of this deeper understanding of allergies.

Rising Incidence of Allergies: Growing urbanization and increased exposure to environmental allergens such as dust mites and pollution are probably contributing factors to the rising trend in allergy cases, particularly respiratory allergies. Furthermore, improved understanding regarding allergens and improved accessibility to diagnostic tools could aid in the discovery of cases that previously were undetected, hence expanding the market's overall volume.

Urbanization and Changing Lifestyles: Urbanization and changes in lifestyle, such as increased exposure to indoor allergens such as dust mites and outdoor pollutants, are major factors driving the trend toward a growing demand for allergy treatment medications.

Market Restraints

High Cost of Treatment: For some patients, allergy treatments can be very costly, especially if they use allergen immunotherapy techniques like immunotherapy injections and SLIT tablets. The high price of allergy medications may prevent them from being widely used and accessed, which would limit their market penetration.

Treatment Compliance and Adherence: Adherence to extended treatment plans is crucial for the effectiveness of allergy drugs, especially immunotherapy therapies. Barriers such as excessive costs, intricacy, or inadequate results leading to inadequate patient adherence could diminish therapy efficacy and impede market expansion.

Regulatory Challenges: It can be challenging and time-consuming for pharmaceutical companies to navigate the regulatory environment for the importation and registration of novel allergy treatments. This intricacy could limit the market's ability to grow by preventing the timely provision of new treatment options.

Healthcare Policies and Regulatory Landscape

The development, importation, and distribution of pharmaceuticals are heavily influenced by healthcare laws and regulatory supervision in Vietnam. The Ministry of Health (MOH) of Vietnam is usually the regulatory body in charge of monitoring these procedures. Pharmaceutical items, including allergy treatments, are subject to quality control, safety, and efficacy regulations set by the MOH and enforced. The MOH has jurisdiction for the Drug Administration of Vietnam (DAV). The Drug Administration of Vietnam (DAV) conducts extensive evaluations, records, and stringent standards of compliance before licensing a drug to ensure its safety, efficacy, and quality. Pharmacies that want to launch new products or import already-approved ones have to follow strict regulations that include GMP compliance, clinical trial compliance, and product registration

Competitive Landscape

Key Players

• GlaxoSmithKline
• Novartis
• Sanofi
• AstraZeneca
• Bayer
• Pfizer
• Abbott
• Teva Pharmaceutical
• DHG Pharma
• Boston Pharmaceuticals