Vietnam Neurology Clinical Trials Market Report 2022 to 2030

Vietnam Neurology Clinical Trials Market Analysis

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The Vietnam Neurology Clinical Trials market is projected to grow from $26.2 Mn in 2022 to $40.8 Mn by 2030, registering a CAGR of 5.73% during the forecast period of 2022 - 2030. The market will be driven by the rising frequency of neurological illnesses such as Alzheimer's, Parkinson's, and stroke along with improving healthcare infrastructure in Vietnam. The market is segmented by phase, by study design & by indication. Some of the major players include Biogen, Pfizer Inc. & Vietnam Pharmaceutical Corporation.

ID: IN10VNCT005 CATEGORY: Clinical Trials GEOGRAPHY: Vietnam AUTHOR: Vidhi Upadhyay

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Vietnam Neurology Clinical Trials Market Executive Summary

The Vietnam Neurology Clinical Trials market is projected to grow from $26.2 Mn in 2022 to $40.8 Mn by 2030, registering a CAGR of 5.73% during the forecast period of 2022 - 2030. In Vietnam, 721 clinical trials were registered, 209 of which are active trials. Clinical research organisations have lately increased their focus in Vietnam. There are an estimated 660000 Vietnamese persons living with dementia, with dementia-related expenses totalling US$ 960 Mn. Every year, around 200,000 stroke victims are registered in Vietnam. The frequency of neurological illnesses such as Alzheimer's, Parkinson's, and stroke is growing in Vietnam, necessitating the development of novel treatments and therapies. Moreover, Vietnam has a population of over 96 Mn inhabitants and a fast-expanding healthcare system, making it an appealing location for clinical trials.

The healthcare infrastructure in Vietnam is developing, with new hospitals and clinics being established around the nation. This has expanded the number of prospective clinical trial locations while also improving healthcare service quality, making it simpler to enrol participants for studies. The pharmaceutical sector in Vietnam is also expanding, with both domestic and foreign pharmaceutical businesses investing in R&D. As a result, the number of clinical studies in the nation has increased, particularly neurology clinical trials.

The Ministry of Health (MOH) and the National Ethics Committee (NEC) supervise the regulatory regime for clinical trials in Vietnam. The MOH has developed guidelines for international-standard clinical trials, and the NEC analyses and authorizes all clinical trials before they may begin. In addition, to encourage and facilitate clinical research, the government has developed a nationwide clinical trial network.

Vietnam Neurology Clinical Trials Market

Market Dynamics

Market Growth Drivers

The frequency of neurological illnesses such as Alzheimer's, Parkinson's, and stroke is growing in Vietnam, prompting the development of novel treatments and therapies. Vietnam's healthcare system is developing, with new healthcare facilities being established around the nation. This has raised the potential of new clinical trial execution while also improving the healthcare service quality. The pharmaceutical business in Vietnam is expanding, with both local and multinational pharmaceutical firms engaging in R&D. As a result, the number of clinical studies in the nation has increased, particularly neurology clinical trials. The Ministry of Health (MOH) and the National Ethics Council (NEC) supervise the regulatory framework for clinical trials in Vietnam, and they have developed guidelines for clinical studies that correspond with international standards.

Market Restraints

In Vietnam, there is a scarcity of competent investigators and personnel, which might make conducting clinical trials challenging, especially in complex fields like neurology. The language barrier may make conducting clinical trials in Vietnam difficult, especially for international sponsors who may lack access to multilingual personnel or translators. More awareness and education about the relevance of clinical trials and their potential benefits are needed among patients and the general public. Many people may be reluctant to enrol in clinical trials because they may not understand the procedure or the possible advantages. Despite the rising pharmaceutical business, there is still a lack of financing and resources for clinical trials, which might make doing research in Vietnam difficult.

Competitive Landscape

Key Players

Biogen
Pfizer Inc.
Novartis AG
Eli Lilly and Company
Hau Giang Pharmaceutical Joint Stock Company (VNM)
Traphaco Joint Stock Company (VNM)
Vietnam Pharmaceutical Corporation (VNM)

Notable Insights

In May 2022, Eisai Vietnam Co., Ltd. announced the inauguration of a new office and the signing of a four-year collaboration agreement with the Vietnam Association of Neurology, commemorating the company's strong 30-year presence in the Vietnamese market.

1. Executive Summary
1.1 Disease Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Clinical Trials Regulation in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 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

6. Methodology and Scope

Neurology Clinical Trials Market Segmentation

By Phase (Revenue, USD Billion):

Phase I
Phase II
Phase III
Phase IV

By Study Design Outlook (Revenue, USD Billion):

Epilepsy
Parkinson's Disease (PD)
Huntington's Disease
Stroke
Traumatic Brain Injury (TBI)
Amyotrophic Lateral Sclerosis (ALS)
Muscle regeneration
Others

By Indication Outlook (Revenue, USD Billion):

Interventional
Observational
Expanded Access

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.

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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.