Vietnam Brugada Syndrome Market Analysis

Vietnam Brugada Syndrome Market Executive Summary

The Vietnam Brugada Syndrome Market is at around $7.2 Mn in 2023 and is projected to reach $12.2 Mn in 2030, exhibiting a CAGR of 10.3% during the forecast period.

Brugada syndrome is a rare, but potentially threatening, genetic condition that causes abnormal electrical activity in the heart, leading to an increased risk of sudden cardiac death. People with Brugada syndrome have an increased risk of irregular heart rhythms beginning in the lower chambers of the heart, i.e., the ventricles. Common signs and symptoms associated with Brugada Syndrome include dizziness, fainting, gasping and laboured breathing, particularly at night, irregular heartbeats or palpitations, extremely fast and chaotic heartbeat, and seizures. The risk factors for Brugada syndrome include family history of Brugada syndrome, being male, race, and fever.

More than 2.4 Mn people in Vietnam are currently suffering from some form of CVDs. The Vietnam Brugada Syndrome Market is driven by significant factors such as growing prevalence of cardiovascular diseases, geriatric population, and advancements in genetic testing. However, high cost of treatment, limited awareness, and limited R&D restrict the growth and potential of the market.

The major players of the Vietnam Brugada Syndrome Market are Nipro Pharma, Sanofi, StellaPharm, Vimedimex, Medtronic, and GSK, among others.

Market Dynamics

Market Growth Drivers

Growing Prevalence of Cardiovascular Diseases: WHO reports that in the country, the leading causes of death are stroke, ischemic heart disease, chronic obstructive pulmonary disease, and diabetes, with rates of 165, 95, 37, and 35 deaths per 100,000 people, respectively. The growing incidence of cardiovascular diseases, driven by aging, lifestyle changes, and conditions like hypertension and diabetes, is increasing attention to rare genetic disorders such as Brugada syndrome. This heightened focus is leading to greater investment in research, diagnostic tools, and advanced treatments for Brugada syndrome. As healthcare systems enhance their cardiovascular care, the demand for effective management and therapies for this condition is escalating, thereby driving market growth.

Aging Population: By 2022, individuals aged 65 and older represented 8.5% of Vietnam’s total population. As the population ages, the likelihood of developing heart conditions, including Brugada syndrome, increases, expanding the potential patient base. Older adults are also more susceptible to complications from arrhythmias, underscoring the need for effective preventive measures and treatments. This demographic trend is likely to drive up the demand for diagnostic tools, therapeutic interventions, and monitoring devices designed for the increasing number of elderly patients with Brugada syndrome, thus fostering market growth.

Advancements in Genetic Testing: The latest advancements in genetic testing allow for the identification of specific mutations associated with arrhythmias, leading to earlier and more accurate diagnoses. Early detection is crucial for implementing preventive measures and reducing the risk of sudden cardiac death. Furthermore, genetic testing aids in assessing risk for family members, encouraging proactive screening and management. As genetic testing becomes more accessible and affordable, it is anticipated to propel the Brugada syndrome market by increasing diagnosis rates and boosting demand for related treatments, devices, and monitoring services

Market Restraints

High Cost of Treatment: The high expenses associated with treating and diagnosing Brugada syndrome pose a significant barrier to market growth. Advanced treatments such as implantable cardioverter defibrillators (ICDs) and specialized genetic tests are often prohibitively costly, making them out of reach for many patients, especially those from low- and middle-income backgrounds. This financial burden limits access to crucial care and treatment, which hampers widespread diagnosis, early intervention, and effective management of Brugada syndrome, thereby slowing the market's expansion.

Limited Awareness: In Vietnam, the lack of awareness about Brugada syndrome is a major obstacle to market growth. The general unawareness among the public, healthcare providers, and patients leads to delayed diagnoses, missed prevention opportunities, and inadequate management of the condition. This lack of knowledge reduces the demand for diagnostic tests, treatments, and patient support services, which in turn hinders the overall development of the Brugada syndrome market in the country.

Limited R&D: The limited research and development efforts for Brugada syndrome significantly impede market growth. Due to its rarity, the condition receives less investment compared to more common cardiovascular diseases, resulting in slower progress in understanding the disease, developing new diagnostic tools, and creating innovative treatments. Consequently, medical breakthroughs are rare, restricting the availability of effective therapies and diagnostic methods and ultimately constraining the market growth for Brugada syndrome.

Regulatory Landscape and Reimbursement Scenario

The Drug Administration of Vietnam (DAV) is the regulatory agency for pharmaceuticals in the Vietnam. It operates under the Ministry of Health (MoH) and plays a critical role in ensuring the safety, efficacy, and quality of pharmaceutical products available in the country.

Before new pharmaceuticals are allowed to be sold in Vietnam, the DAV meticulously examines applications and authorizes their marketing. It also registers distributors, wholesalers, and producers of pharmaceuticals. Moreover, strict quality control procedures are implemented to guarantee the security and effectiveness of medications. This includes examinations of production sites, implementing quality control measures, and maintaining labs for product testing. The rigorous review and oversight by DAV procedures help guarantee that only safe and effective medications are available to Vietnamese consumers.

Vietnam’s healthcare system offers a mix of public and private financing option. The Social Health Insurance (SHI) is a program that is required for all employees in the formal sector, as well as their dependents. SHI offers discounted medical care at specific public and private establishments. Pregnancy care, some outpatient services, hospital stays, and prescription drugs are partially paid for by SHI. Private Health Insurance is an optional add-on offering wider coverage and potentially higher reimbursement rates compared to SHI. Compared to SHI, private health insurance plans cover a broader range of services including advanced diagnostics and procedures, private hospitals and specialists, shorter waiting times, and outpatient care.

Competitive Landscape

Key Players

Here are some of the major key players in the Vietnam Brugada Syndrome Market:

• Nipro Pharma
• Sanofi
• StellaPharm
• Vimedimex
• Medtronic
• GSK
• DHG Pharma
• Ha Tay
• Siemens Healthcare
• F. Hoffmann-La Roche