Vietnam Atherosclerosis Therapeutics Market Analysis

Vietnam Atherosclerosis Therapeutics Market Executive Summary

Vietnam Atherosclerosis Therapeutics Market was valued at $14 Mn in 2022 and is estimated to reach $22 Mn in 2030, exhibiting a CAGR of 5.93% during the forecast period.

Plaque, a sticky substance made of calcium, fat, cholesterol, and other ingredients, builds up inside the artery walls as a result of atherosclerosis. Because of this accumulation, there is a higher chance of developing severe conditions, including heart attacks and strokes, which constrict or clog blood vessels. Atherosclerosis can be caused by a variety of factors, such as high blood pressure, high cholesterol, diabetes, obesity, smoking, a family history of heart disease, inactivity, and an unhealthful diet. Several drugs, such as beta-blockers, aspirin, and statins, have shown potential in preventing or reducing the advancement of atherosclerosis.

Atherosclerosis affects 49% of people in Vietnam who have atherosclerotic cardiovascular disease and are between the ages of 15 and 64. With over 34 Mn obese people, over 53 Mn smokers, and over 21 Mn diabetic sufferers, the nation faces serious health issues. These conditions are all known risk factors for atherosclerotic cardiovascular diseases. The prevalence rates of the main risk factors for atherosclerosis are as follows: using BMI, obesity is 5.9% for men and 8.9% for women, diabetes is 8.5% based on fasting blood sugar levels, hypercholesterolemia is 8.0%, and using waist-hip ratio, it is 23.5% for men and 44.3% for women. Overall, 18.5% of people smoke, with males and women smoking at rates of 32.4% and 3.4%, respectively. These figures highlight the significant prevalence of atherosclerotic cardiovascular illnesses in Vietnam and highlight the need for focused interventions that address these common risk factors.

The Muvalaplin Study conducted in 2023 revealed promising results, demonstrating that muvalaplin was well-tolerated and exhibited a substantial reduction in lipoprotein(a) levels by up to 65% following two weeks of consistent treatment. The United States Food and Drug Administration (FDA) approved colchicine 0.5 mg, which is sold under the brand name Lodoco, in 2023, marking another noteworthy breakthrough. Being the first anti-inflammatory drug approved for the prevention of cardiovascular events, Lodoco's approval was historic. Moreover, the year 2022 saw the notable ROSE Trial, which demonstrated the potential of the cholesteryl ester transfer protein (CETP) inhibitor obicetrapib. The trial provided a potential path for all-encompassing cardiovascular care by demonstrating the effectiveness of obicetrapib in reducing LDL-cholesterol levels when given in conjunction with high-intensity statin therapy.

Market Dynamics

Market Growth Drivers

High Prevalence of Risk Factors- Elevated prevalence of risk factors pose a significant challenge to Vietnam, as indicated earlier, with a notable burden of atherosclerosis-associated conditions. Approximately 25.8% of the population suffers from hypertension; 8.5% of people have diabetes; 8.0% of adults have hypercholesterolemia; 5.9% of men and 8.9% of women have a BMI of 30 or higher; and 18.5% of people smoke overall, which is a significant risk factor. Due to the high prevalence of risk factors associated with atherosclerosis, there is a significant and perhaps growing patient population in Vietnam that requires efficient treatments, which is a strong driver of market expansion in the atherosclerosis treatment drug industry.

Evolving Treatment Landscape: Innovative pharmacological therapies are leading the way in atherosclerosis treatment in Vietnam, outpacing traditional statins and driving market expansion. These developments provide a range of treatment options. For example, PCSK9 inhibitors have been shown to be more effective than statins at lowering LDL cholesterol; CETP inhibitors have been shown to address HDL cholesterol elevation; and anti-inflammatory drugs have been shown to target a critical factor in the development of atherosclerosis. By satisfying a range of patient needs, the launch of these cutting-edge medication categories not only expands the range of available treatments but also accelerates market growth. The efficacy of these treatments makes them desirable options in Vietnam's healthcare system, which has greatly fuelled the expansion of the nation's market for medications used to treat atherosclerosis.

Advancements in Drug Development: In response to the increasing number of patients and diverse requirements, pharmaceutical companies are anticipated to intensify their ongoing endeavours in creating innovative atherosclerosis drugs, customized to different pathways and patient needs. This concerted effort is poised to expedite the expansion of the market in Vietnam.

Market Restraints

Compliance and Adherence Issues: The prolonged use of drugs in atherosclerosis treatment poses challenges such as adverse effects, forgetfulness, and low motivation for some patients. Managing numerous prescriptions for different medical conditions makes adherence problems worse, which could limit the commercial potential of atherosclerosis treatment options because of difficulties with patient compliance.

Affordability and Access: A significant portion of the population, especially those with lower incomes, may find it difficult to obtain newly developed treatments like PCSK9 inhibitors and CETP inhibitors due to their exorbitant costs. The high cost of innovative medicines poses a financial barrier, which in turn restrains the market for atherosclerosis therapy drugs in Vietnam. The pricing dynamics create challenges for individuals, particularly those with limited financial resources, restricting their access to these advanced medications. Incomplete insurance coverage for some expensive medications further exacerbates the affordability issue and limits the market's potential expansion, even in Vietnam, a country with a strong healthcare system.

Healthcare infrastructure limitations: Inequitable access to medical care, especially in remote locations, may make it more difficult to identify and treat atherosclerosis promptly. Delays may arise from a lack of knowledge about risk factors and budgetary limitations brought on by insufficient insurance coverage for long-term illnesses like atherosclerosis. These issues with Vietnam's healthcare system have an impact on patient knowledge, accessibility, and financial support. As a result, they hinder the efficient management of atherosclerosis and limit the market for atherosclerosis therapy medications in the nation.

Healthcare Policies and Regulatory Landscape

The Ministry of Health (MOH) and the Drug Administration of Vietnam (DAV) are principally in charge of managing therapeutic drug regulations and healthcare policy in Vietnam. The Ministry of Health holds a crucial position in the development and execution of healthcare policies, guaranteeing the availability, cost-effectiveness, and calibre of medical services and medications. Under the Ministry of Health, the Drug Administration of Vietnam is in charge of regulating the licensing, registration, and post-marketing surveillance of pharmaceutical goods to guarantee their efficacy, safety, and quality. Maintaining a strong framework that controls the creation, approval, and distribution of treatment pharmaceuticals in Vietnam is contingent upon the regulatory authority’s cooperation, which in turn protects the public's health.

Competitive Landscape

Key Players

• Pfizer
• Novartis
• AstraZeneca
• Sanofi
• Bayer
• Abbott
• Eli Lilly
• Roche
• Teva Pharmaceutical
• Johnson & Johnson