Vietnam HIV Drugs Market is at around $0.16 Bn in 2023 and is projected to reach $0.21 Bn in 2030, exhibiting a CAGR of 3.83% during the forecast period. Rising expenditure on healthcare, innovation in drug development, and international alliances and funding drive growth in the market. The market is dominated by key players like Gilead Sciences, ViiV Healthcare, Boehringer Ingelheim International GmbH, Janssen Pharmaceuticals, Merck & Co., Bristol-Myers Squibb, AbbVie Inc., F. Hoffmann-La Roche Ltd., Novartis, and Mylan.
Vietnam HIV Drugs Market is at around $0.16 Bn in 2023 and is projected to reach $0.21 Bn in 2030, exhibiting a CAGR of 3.83% during the forecast period.
Vietnam's HIV medicine market caters to manufacturing and supplying drugs for HIV/ AIDS therapy within the country. Antiretroviral therapy (ART) and other related pharmaceuticals are in high demand as Vietnam makes great progress against the HIV epidemic. This market is defined by a combination of imports and domestic production, with an emphasis on treatment alternatives that are accessible, affordable, and of high quality.
The market for HIV medications in Vietnam is steadily expanding because of government programs, rising public awareness, and easier access to treatment. Both local manufacturers and international pharmaceutical companies are significant players in the market. Yet obstacles like discrimination and stigma stand in the way of Vietnam's efforts to combat the HIV epidemic.
HIV drug sales have increased rapidly, in 2023, the market was valued at $31.7 Bn. The primary driver of this growth is an increase in HIV diagnoses. The market is evolving due to heightened competition and the emergence of more generic substitutes. It is imperative to decrease the stigma surrounding HIV, eliminate financial obstacles to treatment, and provide support services to enhance the accessibility of therapy in developing countries.
With an estimated 70% of the Vietnamese HIV market as of 2023, Gilead holds a dominating position in the industry. This competitive edge is primarily attributable to their patented medications, which are frequently regarded as the most efficient and well-tolerated on the market. To increase access to HIV treatment and prevention, Gilead actively works with the Vietnamese government and other stakeholders. Among their projects are Technology Transfer Agreements that enable regional producers to create less expensive generic versions of Gilead's patented medications and Public-Private Partnerships in which Gilead collaborates with groups such as the Clinton Health Access Initiative (CHAI) to support HIV research and programs in Vietnam.
Market Growth Drivers:
Rising Healthcare Expenditure: Healthcare spending rises as Vietnam's economy grows. This includes HIV/ AIDS program funding and medicine procurement, driving market expansion.
Innovation in Drug Development: Pharmaceutical companies produce new HIV medications, including newer antiretrovirals with improved efficacy and fewer side effects. Innovative HIV drugs in Vietnam promote growth in the market.
International Partnerships and Funding: The Global Fund to Fight AIDS, Tuberculosis, and Malaria and other donor agencies fund and assist HIV/ AIDS programs in Vietnam. These alliances and financing sources improve HIV medicine access and healthcare systems, growing the market.
Market Restraints:
Stigma and Discrimination: Despite efforts to reduce stigma and discrimination against HIV/ AIDS patients, it still exists in Vietnam. HIV drug demand may be affected by discrimination fears that prevent some people from testing and treating.
Supply Chain Issues: Vietnam's healthcare system may have trouble procuring, distributing, and storing HIV drugs. Drug availability and patient treatment may be affected by supply chain disruptions.
Drug Resistance: HIV strains that are drug-resistant can make HIV drugs less effective. Insufficient monitoring and treatment adherence can cause drug resistance, limiting patient treatment options and slowing the growth of the market.
All pharmaceutical imports into the region require approval from the Ministry of Health (MOH) and the Drug Administration of Vietnam (DAV). To obtain approval from the Drug Administration of Vietnam, the manufacturer (applicant) must submit an application dossier containing all the details and supporting documentation required by the Regulation on Registration of Drugs. Clinical study conduct can be difficult in Vietnam due to a lack of appropriate facilities and trained investigators, which could delay the clearance process.
Key Players:
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 Drug Class
By Distribution Channel
Methodology for Database Creation
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