Vietnam Cardiovascular Drugs Market Analysis Report 2022 to 2030

Vietnam Cardiovascular Drugs Market Analysis

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Vietnam Cardiovascular Drug Market is at around $0.7 Bn in 2022 and is projected to reach $0.95 Bn in 2030, exhibiting a CAGR of 4.03% during the forecast period. The market is growing due to an increase in cardiovascular burden, rising awareness for healthcare, and improved healthcare infrastructure. The market is dominated by key players like Ha Tay Pharmaceutical, OPC Pharmaceutical, ImexPharm, Binh Dinh Pharmaceutical, Mylan and Teva, Sun Pharmaceutical, F. Hoffman-La Roche, Pfizer Inc., Astra Zeneca, Sanofi, Novartis, and GSK.

ID: IN10VNPH007 CATEGORY: Pharmaceuticals GEOGRAPHY: Vietnam AUTHOR: Aneri Parekh

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Vietnam Cardiovascular Drug Market Executive Summary

Vietnam Cardiovascular Drug Market is at around $0.7 Bn in 2022 and is projected to reach $0.95 Bn in 2030, exhibiting a CAGR of 4.03% during the forecast period.

Cardiovascular diseases are conditions affecting the heart and blood vessels combined. It refers to a group of issues that could impair the body's capacity to pump blood and the functioning of the heart rather than a single ailment. Among the various forms of cardiovascular diseases include heart failure, rheumatic heart disease, aortic disease, peripheral arterial disease, coronary heart disease, and cerebrovascular disease. Antiarrhythmics, beta-blockers, PCSK9 inhibitors, calcium channel blockers, and ACE inhibitors are among the medications used to treat the disorders.

Due to the high morbidity and mortality rates associated with cardiovascular illnesses, Vietnam's cardiovascular medicine industry tackles a considerable health burden. More than 50% of the population has uncontrolled hypertension. Understanding disease prevalence and the effects of lifestyle modifications are important factors to take into account. An analysis of the market's size at present, its expected growth, and the factors behind its growth are all part of the process. Insights can be gained by identifying the main pharmaceutical companies, regulatory environments, new trends, and obstacles including limited healthcare infrastructure and economic issues.

Pharmaceutical revenues increased significantly over the preceding 20 years, reaching $138.33 Bn globally in 2022. The pharmaceutical sector has experienced a dramatic shift with the advent of new technology and more affordable and efficient manufacturing methods. The increasing quantity of money entering this industry has also aided the market's growth.

Ha Tay's established presence, focus on cost-effectiveness, and commitment to research and development position them well in the market and allow them to maintain their leading position in the Vietnamese cardiovascular drug market.

Vietnam cardiovascular drug market

Market Dynamics

Market Growth Drivers:

Increase in Cardiovascular Disease Burden: There has been an increase in the prevalence of cardiovascular diseases, which has led to a rise in the need for cardiovascular medications.

Increasing Healthcare Awareness: The Vietnamese population's growing awareness of cardiovascular health and the value of preventive measures has resulted in early diagnosis. This increased awareness also leads to a greater number of patients seeking medical attention and pharmaceutical interventions, which in turn drives the demand for cardiovascular drugs.

Improving Healthcare Infrastructure: Continuous initiatives to improve Vietnam's healthcare system, such as building more hospitals and making healthcare services more easily accessible, are helping to fuel the market for cardiovascular drugs.

Market Restraints:

Economic Factors: Economic factors such as income levels and healthcare spending can impact the population's ability to spend on cardiovascular medications.

Regulatory Obstacles: Novel cardiovascular medications may not reach the market promptly due to complicated regulatory procedures and lengthy drug approval processes. Strict regulatory constraints can also make it take longer and cost more money to provide patients with novel therapies.

Global Economic Uncertainties: The cost of importing cardiovascular medications might be impacted by external variables such as fluctuations in currency exchange rates and global economic uncertainties, which could affect the drugs' availability and pricing in the Vietnamese market.

Healthcare Policies and Regulatory Landscape

Drug Administration of Vietnam (DAV) and the Ministry of Health (MOH) must approve the importation of any pharmaceuticals into the region. The manufacturer (applicant) must submit an application dossier with all the information and supporting documentation specified in the Regulation on Registration of Drugs to receive approval from the Drug Administration of Vietnam. As there aren't many suitable facilities or qualified investigators available, conducting clinical studies in Vietnam can be challenging and may prolong the clearance process.

Competitive Landscape

Key Players:

Ha Tay Pharmaceutical
OPC Pharmaceutical
ImexPharm
Binh Dinh Pharmaceutical
Mylan and Teva
Sun Pharmaceutical
F. Hoffman-La Roche
Pfizer Inc.
Astra Zeneca
Sanofi
Novartis
GSK

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 Cardiovascular Drug Market Segmentation

By Drug Type

Cephalosporins
Antihypertensive
Antihyperlipidemic
Anticoagulants
Antiplatelet Drug
Others

By Disease Indication

Hypertension
Hyperlipidemia
Coronary Artery Disease
Arrhythmia
Others

By Distribution Channel

Hospital Pharmacies
Retail Pharmacies
Online Pharmacies
Others

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.