Vietnam Chronic Pain Therapeutics Market Analysis

Vietnam Chronic Pain Therapeutics Market Analysis


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The Vietnam Chronic Pain Therapeutics Market is anticipated to experience a growth from $372 Mn in 2022 to $598 Mn by 2030, with a CAGR of 6.13% during the forecast period of 2022-2030. The key drivers include the rapidly aging population with an increased prevalence of age-related conditions, the growing demand for alternative treatments due to awareness of traditional medication side effects, and government initiatives aimed at improving access to pain specialists and therapies. The Vietnam Chronic Pain Therapeutics Market encompasses various players across different segments, including AbbVie, Pfizer, Sanofi, Roche, Merck, Bayer, Traphaco, Mekophar, Imexpharm, DHG Pharmaceuticals, etc, among various others.

CATEGORY: Pharmaceuticals GEOGRAPHY: Vietnam AUTHOR: Dr. Netal Patel

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Vietnam Chronic Pain Therapeutics Market Analysis Executive Summary

The Vietnam Chronic Pain Therapeutics Market is anticipated to experience a growth from $372 Mn in 2022 to $598 Mn by 2030, with a CAGR of 6.13% during the forecast period of 2022-2030.

Chronic pain is defined as persistent suffering that lasts longer than the usual healing period and is usually caused by illnesses such as arthritis, fibromyalgia, nerve damage, or previous traumas. A variety of variables contribute to its development, including physical trauma, inflammation, nerve-related disorders, and musculoskeletal ailments. Psychological factors such as stress and despair can exacerbate the symptoms of chronic pain. Treatment options center on symptom control and improving the patient's overall quality of life. Pharmacological therapies include the use of analgesics, anti-inflammatories, and antidepressants to relieve pain and treat related mood problems. Physical treatment is essential in improving mobility and functioning capacities, while alternative therapies such as acupuncture and massage therapy provide further assistance. Cognitive-behavioral therapy helps people cope with discomfort and develop healthy adaptive responses. Interventional techniques such as nerve blocks or spinal cord stimulation may be explored in some circumstances. An integrated, multidisciplinary strategy that includes medical, psychological, and lifestyle therapies is most helpful in reducing the burden of chronic pain and enhancing overall well-being.

The two most prevalent causes of chronic pain in Vietnam are osteoarthritis and lower back pain. The high incidence of chronic pain and its impact on everyday living highlight the need to improve the accessibility and quality of pain management in Vietnam.

The key drivers include the rapidly aging population with an increased prevalence of age-related conditions, the growing demand for alternative treatments due to awareness of traditional medication side effects, and government initiatives aimed at improving access to pain specialists and therapies.

International corporations such as Pfizer, Abbott Laboratories, and MSD are projected to have a considerable market share due to their established presence and diversified pain treatment portfolios. National enterprises, such as Traphaco and Mekophar, have a strong local presence and extensive production capabilities. DHG Pharmaceuticals is well-known for producing inexpensive generics. Other smaller enterprises have great R&D skills and may launch innovative pain treatment options into the Vietnamese market.

Vietnam Chronic Pain Therapeutics Market Report 2022 to 2030

Market Dynamics

Market Growth Drivers

Rising Prevalence of Chronic Pain: Vietnam's population is aging rapidly, leading to an increased prevalence of age-related chronic pain conditions like arthritis and osteoarthritis. Growing urbanization and changing lifestyles are contributing to factors like obesity and diabetes, which can trigger chronic pain conditions. Increased access to healthcare and diagnostic tools leads to earlier detection and diagnosis of chronic pain.

Increased Demand for Alternative Treatments: Growing awareness of the side effects associated with long-term use of opioids and other traditional pain medications is driving demand for alternative treatments. Patients are increasingly seeking minimally invasive or non-invasive pain management solutions like pain patches, nerve blocks, and acupuncture. The development of new technologies like neuromodulation devices and targeted drug delivery systems provides promising options for chronic pain management.

Government Initiatives and Regulatory Support: The Vietnamese government is recognizing the importance of pain management and investing in initiatives to improve access to pain specialists and treatment options. The government is streamlining regulations for clinical trials and drug approvals, fostering innovation and attracting international pharmaceutical companies. Expanding health insurance coverage is increasing affordability and access to chronic pain medications and therapies for patients.

Market Restraints

Limited Healthcare Infrastructure: Medical facilities and specialists are concentrated in urban areas, leaving rural populations with limited access to quality pain management services. Vietnam faces a significant shortage of trained pain specialists, limiting access to specialized care and advanced treatment options. Many healthcare facilities lack advanced equipment and technologies for diagnosis, treatment, and rehabilitation of chronic pain conditions.

Cultural and Awareness Barriers: Chronic pain is often stigmatized in Vietnamese society, discouraging individuals from seeking help and adhering to treatment plans. A lack of awareness about available pain management solutions and their benefits can prevent patients from accessing appropriate care. While traditional medicine plays a significant role in Vietnamese healthcare, integration with modern pain management approaches needs improvement.

Healthcare Policies and Regulatory Landscape

In Vietnam, healthcare policies play a crucial role in shaping the nation's healthcare landscape. The government has been actively working towards improving healthcare accessibility and quality for its citizens. The healthcare system is primarily funded by the government, and policies are formulated to address the diverse healthcare needs of the population. These policies encompass a wide range of areas, including infrastructure development, healthcare workforce training, and disease prevention initiatives. The Drug Administration of Vietnam (DAV) is responsible for overseeing the registration, quality control, and post-marketing surveillance of drugs. It plays a pivotal role in safeguarding public health by enforcing regulations that govern the pharmaceutical industry. The DAV collaborates with international organizations and adheres to global standards to enhance the regulatory framework and foster the development of a robust pharmaceutical sector. The regulatory authority's vigilance is particularly significant as it ensures that only safe and effective medications reach the market, contributing to the overall well-being of the Vietnamese population.

Competitive Landscape

Key Players:

  • AbbVie
  • Pfizer
  • Sanofi
  • Roche
  • Merck
  • Bayer
  • Traphaco
  • Mekophar
  • Imexpharm
  • DHG Pharmaceuticals

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 Chronic Pain Therapeutics Market Segmentation     

By Indication

  • Neuropathic Pain
  • Back Pain
  • Headaches
  • Arthritis Pain
  • Muscular Pain
  • Idiopathic Pain
  • Others

By Drug Class

  • Analgesics
  • Opioids
  • NSAIDs
  • Anaesthetics
  • Others

By Route of Administration

  • Oral
  • Topical
  • Parenteral
  • Others

By Distribution Channel

  • Hospital Pharmacy
  • Retail Pharmacy
  • Online Pharmacy

By End User

  • Hospitals
  • Speciality Clinics
  • Homecare
  • 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.

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Last updated on: 22 May 2024
Updated by: Ritu Baliya

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