Vietnam Cancer Immunotherapy Market Analysis

Vietnam Cancer Immunotherapy Market Analysis


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Vietnam's cancer immunotherapy market is expected to grow from $563 Mn in 2022 to $991 Mn in 2030 with a CAGR of 7.3% for the forecasted year 2022-30. The rise in the prevalence of cancer and the increasing health expenditures in Vietnam are driving the growth of the market. The Vietnam cancer immunotherapy market is segmented by type, application, and end user. Imexpharm, Binh Dinh Pharmaceuticals, and Amgen are the major players in the Vietnam cancer immunotherapy market.

ID: IN10VNPH032 CATEGORY: Pharmaceuticals GEOGRAPHY: Vietnam AUTHOR: Dr. Parul Choudhary

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Vietnam Cancer Immunotherapy Market Executive Analysis

Vietnam's cancer immunotherapy market is expected to grow from $563 Mn in 2022 to $991 Mn in 2030 with a CAGR of 7.3% for the forecasted year 2022-30. From $16.1 Bn in 2018 to $20 Bn in 2022, healthcare spending in Vietnam increased steadily. It is expected to reach $23.3 Bn in 2025 and $33.8 Bn in 2030. The projections are predicated on a 7.6% compound annual growth rate (CAGR). The government's initiatives to make healthcare more accessible and cheaper, the ageing population of the nation, increased awareness of healthcare needs, and rising earnings all contribute to this expansion.

Out of 185 countries and territories, Vietnam had the 92nd highest cancer rate in the world in 2020, moving up seven spots from 2018. In 2020, Vietnam had a cancer rate of 159.7 per 100,000 people, putting it 16th in Asia in the International Agency for Research on Cancer (IARC)'s biennial rating. In 2020, Vietnam recorded 182,563 new instances of cancer, with liver cancer accounting for 14.5% of all new cases. Lung cancer (14.4%), female breast cancer (11.8%), stomach cancer (9.8%), and colorectal cancer (9%) were the next most prevalent cancers.

Checkpoint inhibitors are drugs that are used in immunotherapy to help the immune system recognize and target cancer cells that have hidden their identities. They may be used with chemotherapy or used independently. Lung cancer is just one of the many types of cancer for which immunotherapy is beneficial. Patients with advanced lung cancer may receive immunotherapy as a first-line treatment or after receiving other forms of therapy such as surgery, chemotherapy, or radiation. Additionally, it could be made available to patients whose tumours express Programmed Death-Ligand 1 (PDL1) at higher levels because this could indicate a better prognosis for immunotherapy. Any organ is theoretically vulnerable to being affected by immunotherapy, which can occasionally lead to an overstimulated immune response in which the immune system targets the patient's organs, such as the lungs, liver, and colon. Immunotherapy often has more advantages than disadvantages. Long-term control is attainable even in patients with stage 4 tumours because the five-year survival rate for lung cancer patients responding to immunotherapy is in the range of 30%, compared to 5% without immunotherapy. This results in increased longevity and a high standard of living.

Vietnam Cancer Immunotherapy Market Analysis

Market Dynamics

Market Growth Drivers

Vietnam is seeing an increase in the prevalence of cancer, which is driving up demand for efficient cancer therapies like immunotherapy. The Vietnamese government has put laws in place to promote access to healthcare, particularly cancer immunotherapy, and has acknowledged the significance of cancer treatment. The cost of healthcare is anticipated to rise as Vietnam's economy develops, which would result in a rise in demand for cancer immunotherapy therapies and consequently the growth of Vietnam's cancer immunotherapy market.

Market Restraints

The cost of cancer immunotherapy therapies may prevent many patients in Vietnam from receiving them. Vietnam's healthcare system is still being developed, which may restrict patients’ access to the availability of cancer immunotherapy treatments. It's possible that many patients and healthcare professionals in Vietnam are unaware of the advantages of cancer immunotherapy or lack the information necessary to employ these treatments successfully. The Vietnam cancer immunotherapy market may have growth restrictions due to the continued usage of conventional cancer therapies including chemotherapy and radiation therapy in Vietnam.

Competitive Landscape

Key Players

  • Nanogen Pharmaceutical (VNM)
  • OPC Pharmaceutical (VNM)
  • Pymepharco (VNM)
  • Imexpharm (VNM)
  • Binh Dinh Pharmaceutical (VNM)
  • Amgen
  • AstraZeneca
  • Bayer
  • Bristol-Myers Squibb
  • ELI Lilly
  • F Hoffman-La Roche

Healthcare Policies and Regulatory Landscape

Patients with cancer are covered by a variety of treatments under the Vietnamese health insurance system, including chemotherapy, radiation therapy, and surgery. The Ministry of Health added various immunotherapies, including pembrolizumab and nivolumab, for the treatment of specific forms of cancer to the list of cancer treatments that are covered by health insurance in 2020. Despite the fact that some cancer therapies may not be covered by health insurance, patients may still be required to pay for some treatments out of their own pockets. Additionally, based on the region and healthcare facility, access to and availability of cancer treatments, including immunotherapy, may differ. The Vietnamese government has put measures into place to solve these problems, which include building new healthcare facilities, expanding the number of healthcare practitioners, and spending money on medical technology and equipment. In addition, the government has put measures into place to encourage the growth of the domestic pharmaceutical industry and to lower the price of healthcare services.

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

Cancer Immunotherapy Segmentation

By Type (Revenue, USD Billion):

  • Monoclonal Antibodies
  • Cancer Vaccines
  • Checkpoint Inhibitors
  • Immunomodulators
  • PD-1/PD-L1
  • CTLA-4

By Application (Revenue, USD Billion):

  • Lung Cancer
  • Breast Cancer
  • Head and Neck Cancer
  • Prostate Cancer
  • Colorectal Cancer
  • Melanoma
  • Others

By End User (Revenue, USD Billion):

  • Hospitals
  • Clinics
  • Ambulatory Surgical Centers (ASCs)
  • Cancer Research Centers

Insights10 will provide you with the reports within 10 key parameters which are:

  1. Market Overview
  2. Market Growth Drivers & Restraints
  3. Epidemiology of Disease Type
  4. Market Segmentation
  5. Market Share
  6. Competitive Landscape
  7. Key Company Profiles
  8. Healthcare Policies & Regulatory Framework
  9. Reimbursement Scenario
  10. Factors Driving Future Growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

 

Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers, and researchers across countries through which we engage with local experts to gather key data points and assumptions about each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain a high level of accuracy and consistency. The market data is analyzed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, and market share as well as a segment-level analysis of the specific market. Our report includes precise, to-the-point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.

Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:

 

 

Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameters and micro indicators. The macro parameters include changes in government policies, demand and supply of the market, government intervention programs, and major market share. The micro indicators are GDP growth, market size, market volume, etc. We also understand nuances specific to each country like the US, Canada, India, Germany, etc., and have worked across 60+ countries and hence not only understand global trends but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. starting with the large overall market and segmenting different areas and the bottom-up approach i.e. starting with population and epidemiology and rolling up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach is mainly used for new product forecasting and the bottom-up approach is used for demand estimation of any product for different countries summed up to form the total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and  Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases, and company-level averages, etc.

We make sure to finalize the numbers in alignment with the market research. Firstly, our internal experts ensure thorough validation and checking to ensure accurate and precise analysis and then validation is also done using a multiple-data analysis model. Two-level validation is done and entails the finalization of the report scope and the way of representation pattern.

 

 

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analyzed and synthesized. The second series of interviews are done if necessary to check and validate. The future opportunities are analyzed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results is then, interpreted by considering the following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing the regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue/volume
  • ​Analyzing current needs and determining penetration to estimate the market

Insights: Our reports deliver actionable insights backed with supporting facts and figures to assist you in achieving exemplary growth. Our in-depth analyses are interspersed with relevant insights and statistics to offer an executive-level view of a given market. The description helps in correlating many minor factors affecting the market and their impact on the different segments within the market.

Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current, and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumption.

The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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Imexpharm, Binh Dinh Pharmaceuticals, and Amgen are the major players in the Vietnam cancer immunotherapy market.

The Vietnam cancer immunotherapy market is expected to grow from $563 Mn in 2022 to $991 Mn in 2030 with a CAGR of 7.3% for the forecasted year 2022-2030.

The Vietnam cancer immunotherapy market is segmented by type, application, and end user.


This report addresses

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  • Qualitative, acute and result oriented market analysis
  • Market size and forecasts from 2022 to 2030
  • Opportunities for expansion and in-depth market analysis
  • Segmentation and regional revenue forecasts
  • Analysis of the market share and competitive landscape
  • Strategic Recommendations to chart future course of action
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Last updated on: 29 June 2023
Updated by: Riya Doshi

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