New Market Study Published: Vietnam Pharmaceuticals & Healthcare Report Q4 2010

Sept. 24, 2010 - PRLog -- In BMI's Asia Pacific Business Environment Ratings (BER) matrix for Q410, Vietnam remains ranked 13th of the 17 key regional markets, which now include Sri Lanka. Due to a combination of economic and regulatory drawbacks, Vietnam is a relatively high-risk proposition, especially given the high level of counterfeiting activities and dispensing without prescription. Nevertheless, Vietnam's large and fastgrowing population, which is expected to top 96mn by 2019, will continue to pique the interest of foreign players. Although the country's regulatory environment will remain fairly challenging, the introduction of global standards for manufacturing and pharmacy distribution will improve the market value. Globally, Vietnam ranks 66th out of 83 countries surveyed in our ever-expanding pharmaceutical universe.

Valued at US$1.54bn in 2009, we expect the Vietnamese pharmaceutical market to post a five-year compound annual growth rate (CAGR) of 16.03% in local currency terms (14.80% in US dollars), to reach a value of US$3.07bn in 2014. At over US$33 in 2014, spending per capita will have almost doubled in five years, with further growth expected through to 2019. Over the ten-year forecast period, overall market CAGR will slow somewhat (to 12.79% in local currency), due to a higher uptake of cheaper, domestically-produced medicines, patent expirations and likely measures to reduce consumption in government hospitals, as the government deals with budget deficits.

Vietnam's large and inexpensive workforce remains the largest attraction to foreign investors, although there is an increasing occurrence of foreign direct investment (FDI) projects aimed at tapping the country's growing consumer market. While there is still a large degree of state intervention, the government has been moving gradually towards a market economy. The country's decrepit infrastructure continues to be an impediment for many foreign investors, but we see this as a diminishing problem as the government invests heavily in new roads, railways and ports. In fact, a number of foreign-financed pharmaceutical manufacturing projects in 2009 stood at over 20. A general development project for the drug industry for 2015-2020 has mapped by the government, intended to raise the number of foreign drug traders and producers in the country and enhance domestic drug output and quality. By 2020, the government is looking to meet 80% of domestic demand through local production, up from around 50% currently in volume terms.

The local industry is also expanding. For example, the Vietnam Chemical Pharmaceutical Joint Stock Company (VCP) recently opened a new manufacturing plant in the northern province of Bac Ninh. The US$10mn plant meets World Health Organization (WHO) standards: Good Manufacturing Practice (GMP); Good Storage Practices (GSP); and Good Laboratory Practices (GLP). VCP Chairman Ngo Chi Dung has stated that the plant will limit material imports and generate new jobs for local workers.

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Partial Table of Contents:

Executive Summary
SWOT Analysis
- Vietnam Pharmaceutical And Healthcare Industry SWOT
- Vietnam Political SWOT
- Vietnam Economic SWOT
- Vietnam Business Environment SWOT
Vietnam - Business Environment Ratings
- Table: Asia Pacific Pharmaceutical Business Environment Ratings For Q410
- Rewards
- Risks
Vietnam - Market Summary
- Regulatory Regime
- Pharmaceutical Advertising
- Intellectual Property Environment
- IP Shortcomings
- Counterfeit Drugs
- Other Regulatory Issues
- Pricing Regime
- Price Hikes
- Price Freeze
- Reimbursement Regime
- Recent Pricing and Reimbursement Developments
Industry Trends and Developments
- Epidemiology
- Communicable Diseases
- HIV/AIDS
- Non-Communicable Diseases
- Healthcare Financing
- Healthcare Insurance
- Healthcare Insurance Spending
- Healthcare and Pharmaceutical Reforms
- Foreign Partnerships
- Traditional Medicines
- Pharmacy Retail Sector
- Table: Key Aspects Of Good Pharmacy Practice (GPP) In Developing Countries
- Research and Development
- Biotechnology Sector
- Vaccines
- Clinical Trials
- Medical Device Market
Industry Forecast Scenario
- Overall Market Forecast
- Key Growth Factors - Industry
- Key Growth Factors - Macroeconomic
- Table: Vietnam - Economic Activity
- Prescription Drug Market Forecast
- Patented Drug Market Forecast
- Generic Drug Market Forecast
- OTC Medicine Market Forecast
- Medical Device Market Forecast
- Pharmaceutical Trade Forecast
- Other Healthcare Data Forecasts
- Key Risks to BMI's Forecast Scenario
Competitive Landscape
- Pharmaceutical Industry
- Domestic Pharmaceutical Sector
- Foreign Pharmaceutical Sector
- Recent Pharmaceutical Industry News
Company Profiles
- Indigenous Manufacturer Profiles
- Vietnam Pharmaceutical Corporation (Vinapharm)
- Vietnam OPV Pharmaceutical Co
- Vietnam Pharmaceutical Joint Stock Company (Ampharco)
- Vidipha Central Pharmaceutical Joint Stock Company
- Leading Multinational Manufacturers
- Pfizer
- Sanofi-Aventis
- Novartis
- Merck & Co
- GlaxoSmithKline (GSK)
Country Snapshot: Vietnam Demographic Data

Full Table of Contents is available at:
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Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.