Vietnam Alopecia Therapeutics (Hair Loss) Market Report 2022 to 2030

Vietnam Alopecia (Hair Loss) Therapeutics Market Analysis

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The Vietnam Alopecia (Hair Loss) Therapeutics Market was valued at US $41 Mn in 2022, and is predicted to grow at (CAGR) of 7.73% from 2023 to 2030, to US $74 Mn by 2030. The main drivers advancing this industry are primarily the significant rise in the prevalence of alopecia (hair loss), demographic shifts, lifestyle modifications, and others. The industry is primarily dominated by players such as Sun Pharmaceuticals, Johnson & Johnson, Cirrus, Cipla, Lexington, and Merck, among others

ID: IN10VNPH430 CATEGORY: Pharmaceuticals GEOGRAPHY: Vietnam AUTHOR: Riddhi Solanki

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Vietnam Alopecia Therapeutics Market Analysis: Executive Summary

The Vietnam Alopecia (Hair Loss) Therapeutics Market is at around US $41 Mn in 2022 and is projected to reach US $74 Mn in 2030, exhibiting a CAGR of 7.73% during the forecast period.

Alopecia is characterized by uneven hair loss and affects a large number of people. It can be localized or diffuse, transient or permanent, and affect people of all ages and genders. A condition caused by a variety of variables, such as stress, diabetes, poor nutrition, smoking, and alcohol consumption, can cause significant distress in individuals, affecting their overall quality of life. Hair loss, thinning hair, and bare spots on the scalp are common symptoms. Treatment options include using topical drugs such as minoxidil or corticosteroids directly on the scalp, as well as injections and oral medications with immunosuppressive effects. Light treatment and hair transplants are also viable options. Eli Lilly is pioneering therapy with its JAK inhibitor Baricitinib, and Bayer is contributing to developments with Rogaine (Minoxidil) in addressing this condition.

The approximate overall occurrence of alopecia in Vietnam is about 1.5%. The market is being driven by factors such as the growing aging population and rise in alopecia, demographic shifts and lifestyle modifications, evolving treatment landscapes, and others. However, challenges such as limited market size, low disposable income, and high costs are a few factors that limit the market's potential.

Market Dynamics

Market Growth Drivers

Rising prevalence of Alopecia: The estimated overall prevalence of alopecia is around 1.5% in Vietnam, which is comparable to global estimates. Enhanced public awareness of alopecia contributes to increased market demand by facilitating better identification and diagnosis of the condition.

Demographic shifts and lifestyle changes: The expanding population of young individuals with disposable income contributes to a rise in spending on personal care and cosmetic procedures, including treatments for hair loss. Changing lifestyles that may induce stress, nutritional imbalances, and exposure to pollution add to the likelihood of increased occurrences of alopecia, thereby fostering higher demand in the market.

Evolving treatment landscape and innovation: Emerging methods like hair transplantation and platelet-rich plasma (PRP) therapy are becoming increasingly popular in Vietnam, providing less invasive alternatives for hair restoration. Progress in research and development is resulting in the introduction of novel medications and topical treatments, potentially offering enhanced effectiveness and more favourable side-effect profiles.

Market Restraints

Limited market size: The Vietnamese Alopecia Therapeutics market is relatively modest in size compared to developed nations, which diminishes its appeal for major pharmaceutical companies to invest in research and development.

Low disposable income: Despite the growth of Vietnam's economy, a considerable segment of the population continues to face challenges with low disposable income, constraining their capacity to afford costly alopecia treatments.

High cost of treatment: Vietnamese health insurance does not cover numerous effective Alopecia treatments, such as Minoxidil or Finasteride, rendering them financially inaccessible for a substantial part of the population. Moreover, the availability of counterfeit or unregulated hair loss products on the market raises safety and efficacy concerns, further undermining confidence in established treatments.

Healthcare Policies and Regulatory Landscape

Vietnam's healthcare policy and regulatory structure encompass several essential entities and organizations. The primary authority overseeing healthcare regulations and licensing is the Drug Administration of Vietnam, operating under the Ministry of Health (MOH). The MOH is tasked with crafting national health policies, coordinating healthcare reforms, and overseeing healthcare services.

Obtaining a license for healthcare products in Vietnam requires adherence to the MOH's regulations. Companies involved in pharmaceuticals and medical devices must secure registration and marketing approval from the MOH. This process involves providing technical and scientific data to substantiate the product's safety, quality, and efficacy.

Vietnam's healthcare policy and regulatory framework involve a range of agencies and bodies, with the MOH playing a central role in regulating healthcare products. Opportunities for companies in the healthcare industry are diverse, spanning both the public and private healthcare sectors in the country.

Competitive Landscape

Key Players

Sun Pharmaceuticals
Merck & Co
Cipla Limited
Johnson & Johnson
Lexington International LLC
Cirrus Hair Centers
Vita-Cos-Med-Klett-Loch
Capillus
Follica Inc
Transitions Hair Pty Ltd

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 Alopecia Therapeutics Market Segmentation

By Disease Type

Alopecia Areata
Cicatricial Alopecia
Traction Alopecia
Alopecia Totalis
Androgenetic Alopecia
Alopecia Universalis
Others

By Treatment Type

Pharmaceuticals
Devices
Others

By Gender

Male
Female

By Route of Administration

Topical
Injectable
Oral

By Age Group

Below 18 years
18-34 years
35-49 years
50 years and above

By End User

Hospitals
Physician’s Office
Dermatology clinics
Others

By Sales Channel

Prescriptions
OTC

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.