|
Forecast Period
|
2025-2029
|
|
Market Size (2023)
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USD 105.25 Million
|
|
CAGR (2024-2029)
|
6.18%
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|
Fastest Growing Segment
|
Interventional
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|
Largest Market
|
Southern Vietnam
|
Market Overview
Vietnam
Clinical Trials Market is anticipated to grow significantly in the projected
period of 2028 that is driven by the increasing prevalence of chronic,
tropical, and other infectious diseases among the people of Vietnam. Also,
rapid technological evolution and complete digitalization of procedures evolved
in clinical trials that is incorporating usage of mobile and internet are
leading to the expansion of Clinical trials market in Vietnam. A clinical trial
is a research study that tests medical, surgical, or behavioral intervention on
humans. These studies are the primary way researchers determine whether new
treatments and preventions, such as new drugs, diets, and medical devices (such
as pacemakers), are safe and effective for people. Clinical trials are often
aimed at finding out whether new treatments are more effective or have fewer
harmful side effects than existing treatments. Before planning and
initiating clinical trials, scientists conduct laboratory tests and often also
animal studies to test the safety and efficacy of potential interventions. If
these studies produce positive results, the U.S. Food and Drug Administration
(FDA) will approve the intervention for human experimentation. Once the trial
is complete, the data will be analyzed and results are submitted to the
participants, public, and the scientific community for consideration.
Clinical
research forms the basis for new research ideas and a new clinical research
journey begins. Today the globalization of clinical trials has
dramatically expanded the Vietnam Clinical Trials Market. In addition, there is
an increment in the investments by the government for the development of new
products, leveraging the needs of the growing population of Vietnam that brings
high prevalence of infectious disease among people of all age groups. Mergers
and collaborations between industries and academic institutes for conducting
research studies are further driving the Vietnam Clinical Trials Market. Due to
the rising awareness among the common people about the need and results of
clinical trials, more and more people are now actively taking part in the
clinical trials, hence augmenting the growth of Vietnam Clinical trials market
in the projected period. Clinical Trials
usually take place in four phases. A Phase 1 trial judges the safety of the
experimental drug on a small group of people (20-80). A phase 2 trial is carried out
on around 100-300 people, to judge the safety and short-term risks of the
experimental drug. A phase 3 drug trial is conducted on thousands of people to
study the effectiveness of the drug under examination. A phase 4 trial is
conducted after the drug gets approval from FDA to further study the risks
associated with the medication. Globally, community involvement in clinical
research planning leads to improved research registration and increased
acceptance of research results, which is expected to drive the Vietnam Clinical
Trials Market. There is a rising prevalence of neurological disease such as
Parkinson’s which needs an increase scientific approach for the development of
effective medications, leading to the growth of Vietnam Clinical Trials Market.
Appropriate rules and regulations for conducting clinical trials make the whole
process more trustable, leading to the greater participation of people in
clinical trials. For example, In Vietnam, the Agency for Science and Technology
Training (ASTT), which is directly under the Ministry of Health. (MOH)
administers clinical trials of pharmaceuticals. As per U.S National Library of Medicine,
ClinicalTrials.gov, 772 clinical trials have already been conducted in
Vietnam.
Key Market Drivers
Rising
Prevalence of Tropical and Infectious Diseases
One of
the prime factors for driving the Vietnam Clinical trials market is the
emergence of unknown diseases and infections, which requires immediate action.
Clinical trials for rare human diseases can be very beneficial for the people
living with life threatening diseases. Some of the recent actively recruiting
clinical trials in Vietnam are Ha Nam, Ha Noi, Hai Phong, Ninh Binh and Vinh
Long City. Research includes aspects of clinical research and immunology, host
and pathogen genetics, molecular biology, virology, mathematical modeling,
bioinformatics, biostatistics, health economics, and epidemiology. The Oxford University Clinical Research Unit
in Vietnam conducts large scale clinical research studies in Vietnam. They
mainly focus on diseases such as Central nervous system infections,
Opportunistic infections in HIV, Dengue, Tuberculosis, Influenza / emerging
viral infections, Malaria, Typhoid / enteric infections, and antimicrobial
resistance. All these factors are
leading to the propel the growth of Vietnam Clinical Trials Market in the
projected period. As per the World bank, Vietnam health expenditure in 2020 is
reported to be 4.68% of the total GDP.
Rising
Technological Advancements
In
Vietnam, the occurrence of clinical trials has witnessed significant growth in
recent years, with Clinical Trials emerging as a popular solution for rare
human diseases and the highly prevailing chronic and other infectious diseases.
The increasing demand for Clinical Trials can be attributed to the rising
awareness of clinical trials and most importantly, the rapid advancements in
clinical trials technology. These advancements have not only improved the
success rate and durability of Clinical Trials but have also made the procedure
more accessible and affordable for a wider range of highly prevailing diseases.
The introduction of computer-aided technology has significantly enhanced the
precision and accuracy of clinical trials results. This not only reduces the
cost and turnaround time but also ensures a better quality and aesthetic
outcome for patients, which is propelling the growth of Vietnam Clinical Trials
market. For 20 years, researchers have used electronic tools to develop
protocols, communicate with research staff, randomize participants, collect
data, and analyze results, leading to the expansion of Clinical Trials market
in Vietnam. Apple announced ResearchKit software designed for medical and
health research. several iPhone apps are in development for large studies on
asthma, breast cancer, cardiovascular disease, diabetes, and Parkinson's
disease. Also, Google, Inc. has developed tools aimed at medical devices that
may be used in clinical trials soon, which is expected to drive the Vietnam Clinical
Trials Market in the forecast period. Several digital health applications, such
as external, wearable, implantable, ingestible devices and sensors, and digital
mobile health applications (apps) accessed via the user's personal electronic
device (smartphone, tablet, etc.), are being tested in clinical development
programs. Several of these technologies are being integrated into our ongoing
clinical development programs in neurology and respiratory diseases, hence
propelling the growth of Vietnam Clinical Trials Market.
Large
Treatment-Naive Patient Population
The large
treatment-naive patient population in Vietnam serves as a significant catalyst
for the growth of the clinical trials market in the country. With a population
of nearly 100 million people and a healthcare system undergoing rapid
development, Vietnam presents a vast pool of patients who have not been
previously treated for various medical conditions. This population provides
pharmaceutical companies and research organizations with an invaluable
opportunity to conduct clinical trials and evaluate the safety and efficacy of
new drugs, therapies, and medical interventions. Moreover, the prevalence of
diseases such as cancer, infectious diseases, and chronic conditions further
enhances the attractiveness of Vietnam as a clinical trial destination.
Increasing
Focus on Precision Medicine
The
increasing focus on precision medicine is significantly influencing the growth
of the clinical trials market in Vietnam. Precision medicine emphasizes the
customization of medical treatment and interventions based on individual
patient characteristics, such as genetic makeup, biomarkers, and lifestyle
factors. In Vietnam, advancements in genomic research, molecular diagnostics,
and personalized therapies are driving the demand for clinical trials tailored
to specific patient populations. Pharmaceutical companies and research
institutions are increasingly investing in precision medicine clinical trials
to develop targeted therapies and diagnostics for prevalent diseases, including
cancer, cardiovascular disorders, and infectious diseases. By conducting precision
medicine trials in Vietnam, researchers can leverage the country's diverse
genetic pool and access to treatment-naive patient populations to identify
biomarkers, validate therapeutic targets, and optimize patient stratification
strategies. This alignment with precision medicine principles not only enhances
the efficiency and effectiveness of clinical research but also positions
Vietnam as a key player in the global effort to deliver more personalized and
impactful healthcare solutions.
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Key Market Challenges
Shortage
of Qualified Investigators
The
shortage of qualified investigators in Vietnam poses a significant obstacle to
the growth of the clinical trials market in the country. Clinical trials
require skilled and experienced investigators who can effectively design,
conduct, and oversee research studies while adhering to international standards
and regulations. However, Vietnam faces challenges in recruiting and retaining
enough qualified investigators due to factors such as limited training
opportunities, insufficient expertise in specialized therapeutic areas, and
competition from other sectors. This shortage not only prolongs the timeline
for trial initiation and completion but also compromises the quality and
reliability of trial data, leading to potential delays, increased costs, and
decreased attractiveness of Vietnam as a clinical trial destination.
Intellectual
Property Protection
Intellectual
property protection issues in Vietnam present a significant impediment to the
growth of the clinical trials market in the country. Pharmaceutical companies
conducting clinical trials invest substantial resources in developing
innovative drugs, therapies, and medical technologies, relying on robust
intellectual property rights to safeguard their investments and incentivize continued
innovation. However, concerns about inadequate enforcement of intellectual
property laws, patent infringement, and data confidentiality breaches in
Vietnam raise apprehensions among industry stakeholders regarding the
protection of their proprietary information and research findings. This
uncertainty surrounding intellectual property rights undermines investor
confidence, deters pharmaceutical companies from conducting clinical trials in
Vietnam, and hampers the country's ability to attract cutting-edge research and
development initiatives.
Key Market Trends
Focus on
Sustainable Development Goals (SDGs)
The focus
on Sustainable Development Goals (SDGs) presents a unique opportunity to
enhance the growth of the clinical trials market in Vietnam. By aligning
clinical trial activities with SDG targets related to health and well-being,
such as reducing the burden of diseases, improving access to healthcare, and
advancing medical research and innovation, Vietnam can leverage its clinical
research capabilities to address pressing global health challenges. Clinical
trials focused on diseases prevalent in Vietnam, such as infectious diseases,
cancer, and chronic conditions, can contribute directly to achieving SDG
targets by generating evidence-based interventions and therapies that improve
health outcomes and quality of life for the population. Furthermore, by integrating
SDG principles into clinical trial design, implementation, and outcomes
assessment, Vietnam can attract greater investment from international donors,
philanthropic organizations, and public-private partnerships interested in
supporting initiatives that promote equitable access to healthcare, foster
scientific collaboration, and drive sustainable development. This alignment
with SDGs not only enhances the societal impact and relevance of clinical
research in Vietnam but also positions the country as a responsible global
partner committed to advancing health equity, innovation, and progress towards
achieving the SDGs on a broader scale.
Integration
of Real-World Evidence (RWE)
The
integration of Real-World Evidence (RWE) presents a significant opportunity to
enhance the growth of the clinical trials market in Vietnam. By incorporating
real-world data from electronic health records, health insurance databases, and
patient registries into clinical trial design and decision-making processes,
researchers can supplement traditional clinical trial data with valuable
insights into treatment effectiveness, safety, and patient outcomes in
real-world settings. This approach not only enhances the efficiency and
cost-effectiveness of clinical research but also enables more comprehensive
evaluations of therapeutic interventions across diverse patient populations,
including those underrepresented in traditional clinical trials. Moreover, leveraging
RWE allows researchers in Vietnam to generate evidence that is more relevant,
actionable, and applicable to local healthcare contexts, thereby facilitating
the development and adoption of innovative therapies and interventions tailored
to the needs of Vietnamese patients. By embracing the integration of RWE into
clinical trial methodologies, Vietnam can enhance its attractiveness as a
clinical trial destination, foster collaborations with global stakeholders, and
contribute to advancements in healthcare research and patient care on both
national and international scales.
Segmental Insights
Indication
Insights
Oncology segments dominate
the clinical trials market based on indication for several reasons. Firstly, cancer
represents a significant and growing health burden globally, including in
Vietnam, where cancer incidence rates are rising due to factors such as aging
population, lifestyle changes, and environmental factors. Consequently, there
is a pressing need for innovative therapies and treatments to address various
types of cancer. Additionally, advancements in oncology research have led to
the discovery of targeted therapies and immunotherapies, driving increased
investment and interest in clinical trials within the oncology field.
Furthermore, the complexity and heterogeneity of cancer require extensive
clinical research to develop personalized treatment approaches and improve
patient outcomes.
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Regional Insights
Southern
Vietnam dominates the clinical trials market based on region for several
reasons. Firstly, southern Vietnam, particularly Ho Chi Minh City, boasts a
robust healthcare infrastructure with leading medical institutions, research
centers, and specialized hospitals. This concentration of healthcare facilities
attracts pharmaceutical companies and research organizations seeking to conduct
clinical trials due to the availability of experienced investigators, research
staff, and advanced medical technology. Additionally, southern Vietnam serves
as a commercial and economic hub, offering access to a large and diverse
patient population that is essential for recruiting participants for clinical
trials. Furthermore, the region benefits from favorable business environments,
government support, and established networks of industry stakeholders,
fostering a conducive ecosystem for clinical research and development
activities.
Key Market Players
- IQVIA Vietnam
- PAREXEL
International Corporation
- Pharmaceutical
Product Development, LLC
- ICON
Plc Vietnam
- SGS
SA Vietnam
|
By Phase
|
By Study Design
|
By Indication
|
By Region
|
|
Phase I
Phase II
Phase III
Phase IV
|
Interventional
Observational
Expanded Access
|
Pain Management
Oncology
CNS Condition
Diabetes
Obesity
Others
|
Southern Vietnam
Northern Vietnam
Central Vietnam
|
Report
Scope:
In this
report, the Vietnam Aquaculture Market has been segmented into the following
categories, in addition to the industry trends which have also been detailed
below:
- Vietnam
Clinical Trials Market, By Phase:
- Phase
I
- Phase
II
- Phase
III
- Phase
IV
- Vietnam
Clinical Trials Market, By Study Design:
- Interventional
- Observational
- Expanded
Access
- Vietnam
Clinical Trials Market, By Indication:
- Pain
Management
- Oncology
- CNS
Condition
- Diabetes
- Obesity
- Others
- Vietnam
Clinical Trials Market, By Region:
- Northern
- Central
- Southern
Competitive
Landscape
Company
Profiles: Detailed
analysis of the major companies presents in the Vietnam Aquaculture Market.
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