Vietnam Kidney Cancer Therapeutics Market Analysis

Vietnam Kidney Cancer Therapeutics Market Executive Summary

Vietnam Kidney Cancer Therapeutics Market was valued at $31.45 Mn in 2023 and is predicted to grow at a CAGR of 5.09% from 2023 to 2030, to $44.52 Mn by 2030.

A characteristic of renal cancer is the growth of abnormal cells in the renal tissues, which leads to tumors. Symptoms include appetite loss, flank pain, blood in the urine, etc. Tests for blood and urine, biopsies, MRIs, CT scans, and other diagnostic procedures are among them. Potential therapeutic options include medication, radiation therapy, chemotherapy, nephrectomy, and targeted therapy. The key drivers of this industry include Increasing Incidence of Kidney Cancer, Advancements in Targeted Therapies, and Growing Geriatric Population. The industry is primarily dominated by Pfizer Inc, AstraZeneca, Bristol-Myers Squibb Company, Dr. Reddy's Laboratories Ltd, Endo International plc, Teva Pharmaceutical Industries Ltd, Sun Pharmaceutical Industries Ltd, Mylan N.V., Novartis AG, Lupin, Cipla Inc, Aurobindo Pharma, Fresenius SE & Co. KGaA.

Kidney cancer is estimated to have 400,000 new cases globally each year, with approximately 175,000 deaths annually. Vietnam ranks 12th in terms of kidney cancer prevalence worldwide, with 1.2mn prevalent cases over 5 years. The incidence of kidney cancer in Vietnam varies, ranging from 2.5 to 13.0 cases per 100,000 population. More than 90% of kidney cancers are Renal Cell Carcinoma (RCC), with clear cell renal cell carcinoma being the most common form, accounting for roughly 70% of cases.

Major risk factors for kidney cancer include obesity, smoking, hypertension, and exposure to hazardous materials at work. Renal impairment is often associated with several risk factors, which are underappreciated as a precursor to kidney cancer. Vietnam's population is expected to age considerably in the upcoming years, with a large increase in persons 65 years of age or older by 2049. Changes in the population, as well as changes in affluence and lifestyle, may affect the distribution of common malignancies, including kidney cancer.

Market Dynamics

Market Growth Drivers

Increasing Incidence of Kidney Cancer: The rising incidence of kidney cancer highlights the urgent need for improved treatments to address this growing medical concern. The complex etiology of kidney cancer is highlighted by the wide range of factors contributing to its rising incidence, including lifestyle choices, genetic predispositions, and environmental factors. Understanding these components is crucial to developing comprehensive preventive, early detection, and treatment programs.

Advancements in Targeted Therapies: Targeted therapy is a significant advancement in the management of kidney cancer. Treatments such as tyrosine kinase inhibitors directly target cancer cells while sparing healthy tissues, offering a more precise and targeted approach to healthcare. By lowering side effects and increasing treatment efficacy, targeted medications have greatly enhanced patient outcomes and quality of life. In the field of cancer, this is a significant accomplishment.

Growing Geriatric Population: One particular problem in combating the occurrence of kidney cancer in Vietnam is the country's aging population. Renal cell carcinoma (RCC), the most prevalent form of kidney cancer, is more likely to strike older people. To effectively manage kidney cancer in this demographic group, treatments, and treatment options must be tailored to take into account the unique requirements and vulnerabilities of older persons.

Market Restraints

High Treatment Costs: A major obstacle to the management of kidney cancer is the high expense of treatment, especially when it comes to targeted medications, which are frequently very expensive. In addition to having an impact on individuals, this financial load puts pressure on healthcare systems and restricts access to potentially life-saving therapies. To guarantee fair access to care, innovative pricing models and reimbursement mechanisms are required, as affordability continues to be a major concern, particularly for those without sufficient insurance coverage or financial resources.

Side Effects and Toxicities: Although kidney cancer patients may benefit from targeted therapy, there is a chance that they may have toxicities and adverse consequences. To ensure patients receive the most benefit from medication while minimizing side effects, it is crucial to strike a balance between treatment efficacy and tolerability. To keep a healthy balance between efficacy and tolerability, healthcare professionals must closely monitor patients for possible side effects and modify treatment regimens as necessary.

Resistance to Therapies: The development of therapy-resistant kidney cancer cells, which can eventually become resistant to some drugs due to adaptation, is a significant barrier to the long-term management of kidney cancer. Innovative medications requiring cooperation between medical professionals, researchers, and pharmaceutical companies are required to effectively address treatment resistance and raise the rate of survival in kidney cancer.

Regulatory Landscape and Reimbursement Scenario

The Ministry of Health (MOH), oversees drug approvals, including cancer drugs, through the Drug Administration of Vietnam (DAV). National Institute for Drug Quality Control (NIDQC), This government-funded organization performs drug testing and quality control, particularly for oncology medications.

The Vietnam Social Security (VSS) plays a crucial role in reimbursement policies. The government allocates a portion of the annual health budget for preventive medicine (30%), while the remaining funds are directed toward tertiary care. Investments in cancer care have led to improvements, with an increasing number of radiotherapy units and oncology departments across the country. The Vietnamese Cancer Society (VCS) brings together cancer specialists to combat cancer. As cancer cases are expected to quadruple by 2030, the demand for oncology therapeutics is rising, driven by government initiatives.

Competitive Landscape

Key Players

Here are some of the major key players in the Vietnam Kidney Cancer Therapeutics Market Analysis

• Pfizer Inc
• AstraZeneca
• Bristol-Myers Squibb Company
• Dr. Reddy’s Laboratories Ltd
• Endo International plc
• Teva Pharmaceutical Industries Ltd
• Sun Pharmaceutical Industries Ltd
• Mylan N.V.
• Novartis AG
• Cipla Inc