Vietnam Mouth Ulcer Therapeutics Market Analysis

Vietnam Mouth Ulcer Therapeutics Market Executive Summary

The Vietnam Mouth Ulcer Therapeutics Market is at around $7.6 Mn in 2023 and is projected to reach $10.1 Mn in 2030, exhibiting a CAGR of 4.13% during the forecast period 2023-2030.

Mouth ulcers, also known as canker sores, are classified into three main types: minor aphthous ulcers which are the most common small oval lesions, major aphthous ulcers that are larger and deeper causing more pain, and herpetiform ulcers which start as multiple small ulcers that can merge into one large ulcer. While the exact cause is unknown, several risk factors have been identified including stress, anxiety, hormonal changes, nutritional deficiencies (iron, vitamin B12, folic acid, zinc), certain medical conditions like celiac disease, Crohn's disease, and HIV/AIDS, as well as trauma from dental work, braces, or ill-fitting dentures. In most cases, mouth ulcers are self-limiting and resolve within 1-2 weeks without treatment. However, complications can arise such as secondary infection, severe pain affecting one's ability to eat or drink properly, and potential scarring in cases of severe recurrent ulcers. Prevention involves reducing stress, avoiding potential food triggers like citrus fruits, nuts, and chips, using soft-bristled toothbrushes and waxed dental floss, and replacing toothpaste if it seems to be a trigger. Treatment involves symptomatic relief with topical gels containing anaesthetics, antiseptics, and antibiotics, as well as supportive care with multivitamins or vitamin supplements, antipyretics, and antibiotics. Medications include antibiotics, oral painkillers, oral steroids, antiseptics, chlorhexidine gluconate mouthwash, and sucralfate. Home care includes good oral hygiene, avoiding trigger foods, warm saline gargles, ice packs, and a balanced diet. Medical attention is necessary if the ulcers fail to heal within a week or two, are unusual, spreading, or large, or if there is severe pain, fever, or difficulty while chewing, talking, or swallowing.

The market therefore is driven by significant factors like increasing tobacco consumption, lifestyle changes and rising healthcare spending and access, however, factors such as limited accessibility, reliance on traditional remedies, and underdeveloped healthcare infrastructure limit market growth.

The industry is primarily dominated by players such as Hau Giang Pharmaceuticals, Traphaco, Bristol-Myers Squibb Company, Bayer, Novartis, GlaxoSmithKline PLC, Pfizer, Inc. among others.

Market Dynamics

Market Growth Drivers

Increasing Tobacco Consumption: In 2020, the smoking rate for men in Vietnam was around 47.4%. Moreover, tobacco use is a major cause of health problems in Vietnam, including more than 40,000 tobacco-related deaths each year increasing the demand for therapeutics as it is a major risk factor for ulcers. This sizable market could attract investments and drive growth in the mouth ulcer treatment sector.

Increasing urbanization and lifestyle changes: Rapid urbanization in Vietnam is leading to changes in lifestyle and dietary habits. Increased stress levels and consumption of certain foods can raise the risk of developing mouth ulcers. These urbanization-driven factors could contribute to a higher incidence of mouth ulcers and drive demand for treatments.

Rising healthcare spending and access: Vietnam's government is increasing spending on healthcare, improving infrastructure and access. Better access to healthcare services could lead to improved diagnosis and treatment of mouth ulcers. This improved accessibility could drive growth in the mouth ulcer treatment market.

Market Restraints

Limited awareness and underreporting: In rural areas and certain population segments, awareness about mouth ulcers may be limited. This lack of awareness could lead to underreporting and underestimation of the market potential.

Reliance on traditional remedies: Some Vietnamese people may have a cultural preference for traditional or home remedies. This reliance on alternative treatments could limit the adoption of conventional mouth ulcer medications.

Underdeveloped healthcare infrastructure: Certain regions in Vietnam may lack adequate healthcare infrastructure and access to specialized services. This could hinder the diagnosis and treatment of mouth ulcers in those areas.

Regulatory Landscape and Reimbursement Scenario

The regulatory body responsible for the pharmaceutical industry in Vietnam is the Ministry of Health (MOH), which is organized into several divisions, including the Drug Administration of Vietnam (DAV) and the Department of Medical Equipment and Construction (DMEC). The DAV is responsible for the overall management of pharmaceutical products, including their import, export, and manufacturing, while the DMEC monitors the manufacturing, registration, and trading of medical devices. The marketing authorization of drugs in Vietnam follows Circular No. 32/2018/TT-BYT, which outlines the requirements for marketing authorization and the process for obtaining it. The management of medical devices is regulated by the Ministry of Health through ministerial circulars and decrees.

The reimbursement system in Vietnam is managed by the Health Insurance Fund, which covers medicines, medical services, and health procedures that are specifically indicated by the government. Patients who undergo health examinations at healthcare establishments that are eligible for registration of initial health examination and treatment are covered for the examination and treatment expenses with the appropriate ratio. However, if a patient uses the services of a healthcare establishment that is not in the respective eligibility list, their expenses are not covered by the Health Insurance Fund.

The government has set a target for the pharmaceutical industry to develop and produce original brand-name drugs, as well as vaccines and patent drugs. The industry is expected to grow significantly, driven by increasing economic growth, rising income per capita, and an aging population.

The regulatory body and reimbursement system in Vietnam are designed to ensure the safety and efficacy of drugs and medical devices, while also promoting the development of the pharmaceutical industry and providing access to healthcare services for patients.

Competitive Landscape

Key Players

Here are some of the major key players in the Vietnam Mouth Ulcers Therapeutics Market:

• Hau Giang Pharmaceuticals
• Traphaco
• Pfizer, Inc.
• 3M
• Bristol-Myers Squibb Company
• Bayer
• Pfizer
• GlaxoSmithKline plc.
• Sanofi
• Novartis