Vietnam Generic Drugs Market to Grow with Impressive CAGR until 2027
Booming pharma industry in
country is driving the growth of the Vietnam Generic drugs Market, in the
forecast period, 2023-2027F.
According to TechSci report on, “Vietnam
Generic
drugs Market - By Region, Competition
Forecast & Opportunities, 2027”,
Vietnam generic drugs market is anticipated to grow with an impressive CAGR in
the forecast period, 2023-2027 on the account of increasing demand for
affordable pharmaceutical products. Increasing demands for the effective
treatment for the chronic diseases, when the branded drugs are not flooding in
the market, are anticipated to drive the growth of the Vietnam generic drugs
market in the upcoming five years.
Moreover, growing prevalence of chronic &
lifestyle diseases like cardiovascular diseases, diabetes, etc. are majorly
responsible for the increasing demands for the generic drugs since the drugs
are prescribed for a long duration of time and the cost of branded drugs are
often too expensive for general population to afford.
Research and new drug designing industry in the
country is rather weak due to lack of resources, thus, to fulfill the demands
for pharmaceutical products, generic drugs are the option to satisfy the
growing demand thereby aiding the growth of the Vietnam generic drugs market in
the next five years. Although, due to its joining WTO, the country has banned
manufacturing of various branded drugs as generics, and thus has drastically
affected the local businesses and benefitted the brands.
It is necessary for the government to efficiently
elevate the standards of the domestic pharmaceutical industry, thus promoting
Vietnamese companies and brands and regulating the transfer of knowledge, skills
and resources from foreign MNC’s may also support the growth of the Vietnam
generic drugs market in the future five years.
Browse over XX
market data Figures spread through 70
Pages and an in-depth TOC on "Vietnam Generic drugs Market"
https://www.techsciresearch.com/report/vietnam-generic-drugs-market/8265.html
The
Vietnam generic drugs market is segmented by type, mode of drug delivery, form,
source, distribution channel, application, competitional landscape, and
regional distribution. Based on type, the market is differentiated between
small molecule generics and biosimilars. Biosimilars are anticipated to hold
the largest revenue shares of the market and dominate the market segment in the
upcoming five years on account of increasing demands for the effective and
efficient treatment methods. Generic drugs have the same active ingredients and
can satisfy the demand for affordable medicine too. Also, growing prevalence of
chronic diseases and the demand to overcome these diseases is further
substantiating the growth of the Vietnam generic drugs market in the next five
years.
On
the basis of mode of drug delivery, the market is bifurcated into oral,
topical, parenteral, and others. Oral mode of drug delivery is the easiest and
most effective drug delivery pathway. Moreover, the maintenance of regular
dosage and monitoring the administration as per prescription is easier for oral
administration, thus the sub segment in anticipated to hold the largest revenue
shares of the market and dominate the market segment in the upcoming five
years.
Market
is differentiated on the basis of source between in-house and contract
manufacturing organizations. Contract manufacturing organizations are
anticipated to hold the largest revenue shares of the market and dominate the
market segment in the upcoming five years on the account of increasing demands
for the generic drugs. Lack of research institutes for the new drug development
further aids the growth of the contract manufacturing organization over
in-house manufacturing of drugs.
Based
on distribution channel, the market is fragmented into hospital pharmacies,
retail pharmacies, and online pharmacies. Hospital pharmacies are anticipated
to hold the largest revenue shares of the market and dominate the market
segment in the upcoming five years of the account of increasing patient burden
over hospitals. Rapidly growing instances of chronic diseases, and prolonged
durations of drug intake has further enhanced the growth of the hospital
pharmacies where the patient tend to purchase their monthly drug demands at
once.
A partial list of major market players of the Vietnam
generic drugs market includes:
·
DHG Pharmaceutical Joint Stock Company
·
Traphaco Joint Stock Company
·
Pymepharco Joint Stock Company
·
Hatay Pharmaceutical Joint Stock Company
·
Mekophar Chemical Pharmaceutical JSC
·
Imexpharm Corporation
·
OPC Pharmaceutical Joint Stock Company
Download
Sample Report @ https://www.techsciresearch.com/sample-report.aspx?cid=8265
Customers can also request for 10% free customization on this report.
“Increasing demands for
the generic drugs to overcome chronic diseases like cardiovascular diseases,
neurological diseases and lifestyle diseases like diabetes, research sectors of
oncology, and infectious diseases like anti-inflammatory diseases, are actively
driving the growth of the Vietnam generic drug market in the upcoming five
years. Although, the country do not have extended research sector and new drug
development capabilities, the increasing demands for the effective treatment
and recent pandemic situation has further enhanced the growth of the market in
the next five years,” said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“Vietnam
Generic Drugs Market By Type (Small Molecule Generics v/s Biosimilars), By Mode
of Drug Delivery (Oral, Topical, Parenteral, Others), By Form (Tablet, Capsule,
Injection, Others), By Source (In House v/s Contract Manufacturing
Organizations), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies,
Online Pharmacies), By Application (Cardiovascular Diseases, Diabetes,
Neurology, Oncology, Anti-Inflammatory Diseases, Others), By Region, Competition Forecast & Opportunities, 2027” has evaluated the future
growth potential of Vietnam generic drugs market and provides statistics &
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and analyzes
the emerging trends along with essential drivers, challenges, and opportunities
in Vietnam generic drugs market.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel:
+1-646-360-1656
Email: [email protected]
Website: https://www.techsciresearch.com/