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.
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.
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.
Key Players
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
By Type (Revenue, USD Billion):
By Application (Revenue, USD Billion):
By End User (Revenue, USD Billion):
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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.
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