Vietnam Conjunctivitis Therapeutics Market Analysis

Vietnam Conjunctivitis Therapeutics Market Analysis


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The Vietnam Conjunctivitis Therapeutics Market was valued at $21 Mn in 2022 and is predicted to grow at a CAGR of 5.63% from 2023 to 2030, to $32 Mn by 2030. The key drivers of this industry include the increasing prevalence of conjunctivitis, expanding healthcare infrastructure, and increasing treatment options. The industry is primarily dominated by players such as Allergan, Bausch & Lomb, Novartis, Rohto, Santen, Pfizer, and Mentholatum among others.

CATEGORY: Pharmaceuticals GEOGRAPHY: Vietnam AUTHOR: Riddhi Solanki

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Vietnam Conjunctivitis Therapeutics Market Analysis Executive Summary

The Vietnam Conjunctivitis Therapeutics Market is at around $21 Mn in 2022 and is projected to reach $32 Mn in 2030, exhibiting a CAGR of 5.63% during the forecast period.

Conjunctivitis, commonly known as pink eye, is the inflammation of the conjunctiva, a transparent membrane covering the surface of the eye and the eyelid. It can be caused by various factors, including viral or bacterial infections, allergic reactions, irritants, and exposure to chemicals. Conjunctivitis symptoms include redness, irritation, excessive tearing, and, in some cases, a gritty sensation or mucus discharge. Allergic conjunctivitis is commonly treated with nonsteroidal anti-inflammatory drugs, antihistamines, or topical steroid eye drops. Infectious conjunctivitis, particularly the bacterial type, is typically treated with antibiotic eye drops or ointments. Leading manufacturers of these therapy alternatives include Pfizer, Sanofi, Alcon, and Allergan.

Vietnam faces a significant burden of infectious conjunctivitis which affects more than 30% of the adult population. Market expansion is propelled by significant factors such as the increase in the burden of conjunctivitis, expanding healthcare infrastructure, and increasing treatment options. However, conditions such as high costs of treatments, lack of resources, and market saturation restrict the growth and potential of the market.

Vietnam Conjunctivitis Therapeutics Market Report 2022 to 2030

Market Dynamics

Market Growth Drivers

Increasing burden of conjunctivitis: More than 30% of the Vietnamese adult population is affected by viral conjunctivitis. Air pollution and poor hygiene contribute to conjunctivitis causative agents. Vietnam is experiencing increased urbanization and exposure to digital services increasing susceptibility to conjunctivitis risks. Additionally, the aging population has a higher risk of conjunctivitis, contributing to market growth.

Expanding healthcare infrastructure: The Vietnamese government is investing significantly in healthcare infrastructure, including developing new hospitals and clinics. This effort attempts to improve access to diagnosis and treatment. Also, the growing private healthcare sector offers more treatment options and specific therapies for eye diseases.

Expanding treatment options: Pharmaceutical companies are researching new conjunctivitis therapies, including targeted therapy with fewer adverse effects. The advent of innovative treatment options, including combination medications and sustained-release products, has increased adoption from both patients and healthcare professionals, expanding the market.

Market Restraints

Lack of resources: Disparities in access to conjunctivitis treatment arise due to an unequal distribution of healthcare facilities, especially in rural areas. A shortage of skilled ophthalmologists and optometrists in rural areas hinders quick and accurate diagnosis and treatment. Many Vietnamese citizens, from low-income families, have additional financial constraints owing to limited healthcare insurance coverage.

High costs of treatments: A considerable portion of the Vietnamese population finds the cost of branded conjunctivitis drugs as a financial constraint. The scarcity and cost of generic alternatives restrict access to appropriate treatment. This results in high out-of-pocket expenditures for this population due to limited insurance coverage.

Market saturation: Existence of reputable domestic and global firms with robust brand visibility and a significant market presence. Traditional and alternative therapies are being adopted for the treatment of conjunctivitis which limits the market for prescription drugs

Healthcare Policies and Regulatory Landscape

Vietnam's major regulatory organization for medications and pharmaceuticals is the Ministry of Health (MOH), notably the Drug Administration of Vietnam (DAV). The DAV regulates and controls the quality, safety, and efficacy of pharmaceutical products in the country.

To obtain licensure for drugs and pharmaceuticals in Vietnam, manufacturers and distributors must undergo a rigorous registration process with the DAV. The DAV conducts a thorough evaluation of the submitted data to ensure compliance with Vietnamese regulations and standards. Once a product is approved, a license is issued, allowing it to be marketed and sold in Vietnam.

The regulatory environment for new entrants into the pharmaceutical sector in Vietnam is strict, requiring adherence to quality and safety standards. Companies entering the market should maintain rigorous regulatory procedures while demonstrating the safety and efficacy of their products through clinical testing and documentation.

Competitive Landscape

Key Players

  • Allergan
  • Alembic Pharmaceuticals
  • Bausch & Lomb
  • Novartis
  • Mentholatum Company
  • Sanofi
  • Pfizer
  • Abbott Laboratories
  • Rohto Pharmaceuticals
  • Santen 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 Conjunctivitis Therapeutics Market Segmentation

By Drug Class

  • Antibiotics
  • Antiviral
  • Antiallergic
  • Others

By Treatment

  • Mast Cell Stabilizers
  • Decongestant
  • Immunotherapy
  • Antihistamines
  • Non-steroidal anti-inflammatory drugs
  • Olopatadine
  • Epinastine
  • Others

By Disease Type

  • Bacterial
  • Chemical
  • Viral
  • Allergic

By Formulation

  • Ointment
  • Drops
  • Drugs

By End Users

  • Hospitals and clinics
  • Online Pharmacies
  • Retail Pharmacies
  • Drug Stores

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.

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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

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

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

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Last updated on: 10 June 2024
Updated by: Riya Doshi

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