|
Forecast
Period
|
2026-2030
|
|
Market
Size (2024)
|
USD
478.32 Million
|
|
Market
Size (2030)
|
USD
824.18 Million
|
|
CAGR
(2025-2030)
|
9.45%
|
|
Fastest
Growing Segment
|
Anti-glaucoma
|
|
Largest
Market
|
Southern
Vietnam
|
Market Overview
Vietnam Ophthalmic
Drugs Market was valued at USD 478.32 Million in 2024
and is expected to reach USD 824.18 Million by 2030 with a CAGR of 9.45% during
the forecast period. The
Vietnam ophthalmic drugs market is driven by several key factors. The
increasing prevalence of eye diseases, particularly glaucoma, cataracts, and
diabetic retinopathy, is fueling demand for treatments. As Vietnam's population
ages, the need for long-term eye care and management of chronic conditions has
risen significantly. According to data from the Ministry of Health, as of
October 2023, approximately two million people in Vietnam were affected by
blindness. The primary causes include cataracts (66%), fundus diseases,
glaucoma, and refractive errors. At the same time, the growing use of
information technology has led to increased exposure of the eyes to electronic
devices, as well as to harmful effects from sunlight and environmental
pollution, contributing to a rise in eye diseases and earlier onset of
conditions. Refractive errors, such as nearsightedness, farsightedness, and
astigmatism, are particularly prevalent among adolescents, with 15-20% of
students in rural areas and 30-40% in urban areas affected. Growing
awareness of eye health, supported by government initiatives and healthcare
campaigns, is encouraging individuals to seek regular eye exams and treatments.
Advancements in ophthalmic drug formulations and delivery systems, such as more
effective glaucoma medications and anti-VEGF therapies, are improving treatment
outcomes and driving market growth. The expansion of healthcare infrastructure,
particularly in urban areas like Ho Chi Minh City, further facilitates access
to ophthalmic care. Economic growth, rising disposable incomes, and the
increasing adoption of private healthcare services also contribute to the
demand for ophthalmic drugs in Vietnam, making it a rapidly growing market.
Key Market Drivers
Increasing Prevalence of Eye
Diseases
The
rising prevalence of eye diseases in Vietnam is one of the most significant
drivers of the ophthalmic drugs market. As the population ages, the incidence
of age-related eye conditions such as cataracts, macular degeneration, diabetic
retinopathy, and glaucoma is increasing. Younger populations are also showing a
rise in conditions such as refractive errors, dry eye syndrome, and
conjunctivitis. The increase in the number of people diagnosed with eye-related
health issues is directly boosting the demand for ophthalmic drugs. Vietnam has
a rapidly aging population, with projections indicating that the elderly
segment will constitute a more substantial portion of the overall population in
the coming decades. Age-related visual impairment, which is prevalent among
older adults, contributes to the need for more specialized treatments in the
form of ophthalmic drugs. According to a study titled, “The pattern of eye
disease in a provincial ophthalmic hospital of Viet Nam”, the most frequent
cause of hospitalizations were disorders of the sclera, cornea, iris, and
ciliary body, accounting for 55.0% of cases, followed by glaucoma at 29.2%, and
disorders of the eyelid, lacrimal system, and orbit at 15.8%. Keratitis was the
leading ocular morbidity, affecting 40.1% of patients, followed by glaucoma at
29.2% and iridocyclitis at 13.5%. The average age was highest among patients
with disorders of the eyelid, lacrimal system, and orbit (67.3 ± 13.4 years),
followed by those with glaucoma (62.2 ± 13.8 years), and lesions of the sclera,
cornea, iris, and ciliary body (57.5 ± 17.9 years).
Environmental factors such as urbanization,
air pollution, and increased screen time have also contributed to a surge in
conditions like dry eye syndrome, which further increases the demand for
effective drugs to manage these diseases. With these rising numbers, healthcare
providers are focusing more on addressing ophthalmic conditions, pushing for
better pharmaceutical solutions in the market.
Growing Healthcare
Infrastructure and Investment
Vietnam’s
healthcare infrastructure has been rapidly improving, with increased
investments in both public and private healthcare sectors. The government has
recognized the importance of healthcare as part of its national development
agenda, leading to more robust policies and funding aimed at improving the
country's healthcare system. The increasing presence of modern medical
facilities, along with the expansion of hospitals, clinics, and specialized eye
care centers, has made ophthalmic treatments more accessible to a larger
segment of the population. These advancements have led to greater availability
of ophthalmic services and products, encouraging the growth of the ophthalmic
drugs market. With improved healthcare infrastructure, there has been a rise in
the adoption of advanced diagnostic and treatment technologies, including those
used for eye care, such as laser surgeries and retinal treatments. As more
hospitals are equipped with cutting-edge medical equipment, the demand for
effective and modern ophthalmic drugs is becoming increasingly critical. The
growing investment in the healthcare sector also means that pharmaceutical
companies are incentivized to develop and distribute more innovative ophthalmic
treatments, contributing to the overall market growth.
Rising Awareness and Education
Regarding Eye Health
In
Vietnam, there has been a marked increase in awareness about eye health,
largely driven by government initiatives, non-governmental organizations
(NGOs), and healthcare professionals. As more people become conscious of the
importance of eye health, the demand for both preventive and therapeutic
ophthalmic drugs has surged. Public health campaigns aimed at educating the
population on the signs of eye diseases, proper eye care, and the benefits of
early diagnosis have proven effective in increasing awareness. As a result,
individuals are now more proactive in seeking eye care and using ophthalmic
medications. An increasing number of people are getting routine eye checkups,
especially as they age, contributing to early detection and treatment of eye
conditions. Healthcare providers and eye care professionals are taking the lead
in educating patients about the importance of regular eye exams and the use of
prescribed ophthalmic drugs. This increase in education and awareness around
eye health ensures that people are more likely to adopt preventive measures and
seek proper treatment, when necessary, directly benefiting the ophthalmic drugs
market.
Government Initiatives and
Policies Supporting Eye Care
The
Vietnamese government has implemented several initiatives and policies to
support eye care and improve the overall healthcare landscape. These policies
have significantly impacted the ophthalmic drugs market by creating a conducive
environment for the growth of eye care services and pharmaceutical products.
The government's focus on improving access to healthcare, especially in rural
areas, has made eye care more accessible, which, in turn, increases the demand
for ophthalmic drugs. In
May 2023, the Orbis Flying Eye Hospital conducted its first in-person surgical
training program since the pandemic, arriving in Vietnam for three weeks of
hands-on instruction. The program included simulation training, workshops, and
practical surgical training on real patients. A total of 153 Vietnamese
healthcare professionals took part in the initiative. Policies aimed at subsidizing certain
healthcare costs and providing financial support for essential medicines have
made ophthalmic drugs more affordable to a larger section of the population. In
particular, the government’s ongoing efforts to reduce the burden of blindness
and visual impairment have been significant in driving the market for
ophthalmic treatments. The National Program for Blindness Prevention, for
example, focuses on offering screening and treatment for eye diseases, further
boosting demand for ophthalmic drugs. Such initiatives not only help improve
public health but also encourage the growth of the ophthalmic pharmaceutical
market by increasing drug consumption among individuals in need of eye care.
Rising Incidence of Diabetes
and Hypertension
The
growing prevalence of chronic diseases such as
diabetes and hypertension in Vietnam is also contributing to the rise in eye
conditions and, subsequently, the demand for ophthalmic drugs. Both diabetes
and hypertension are major risk factors for various eye diseases, particularly
diabetic retinopathy and hypertensive retinopathy. According to a study titled,
“Comorbidities of diabetes and hypertension in Vietnam: current burden,
trends over time, and correlated factors”, the prevention and control of
non-communicable diseases (NCDs) has been a key health priority for Vietnam.
This study utilized data from three STEPS surveys to assess the current burden
of T2DM-HTN comorbidity, trends over time, and factors associated with the
condition. The findings revealed that, in 2021, approximately 3.92% of
Vietnam’s population aged 25–64 years had both diabetes and hypertension. The
prevalence was higher in men compared to women, with rates of 4.7% and 3.2%,
respectively.
As
the number of individuals suffering from these chronic conditions continues to
rise, so does the incidence of associated ophthalmic complications. Diabetes,
for instance, can lead to changes in the blood vessels of the retina, resulting
in diabetic retinopathy, which can cause blindness if not treated promptly.
Similarly, hypertension can affect the blood vessels in the eyes, leading to
vision impairment. As the management of these chronic diseases improves, more
people are being diagnosed with eye complications that require specific
ophthalmic drugs for treatment. The growing prevalence of diabetes and
hypertension, combined with increased awareness of the need for eye care, is
contributing to a steady rise in the demand for specialized ophthalmic drugs.
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Key Market Challenges
Limited Access to Eye Care in Rural
Areas
A
major challenge hindering the growth of the Vietnam ophthalmic drugs market is
the limited access to eye care, particularly in rural and remote areas.
Although Vietnam’s healthcare infrastructure has improved in recent years,
there remains a significant gap in healthcare services between urban and rural
populations. In many rural areas, the availability of specialized ophthalmic
care is still insufficient, with few trained eye care professionals or
specialized eye care clinics. This lack of access results in delayed diagnoses
and treatment of eye conditions, often leading to more severe complications and
poorer health outcomes for patients. The challenge becomes more pronounced with
conditions such as glaucoma or diabetic retinopathy, where early detection and
timely treatment are critical to preventing irreversible damage to vision.
Rural
populations are often less educated about the importance of regular eye
checkups or the availability of effective ophthalmic treatments, leading to
lower demand for eye care services and pharmaceutical products. While some
urban areas in Vietnam benefit from state-of-the-art ophthalmic facilities and
better healthcare access, people in rural settings may need to travel long
distances to receive adequate care, which can be both time-consuming and
costly. This disparity in healthcare access creates a barrier for ophthalmic
drug manufacturers looking to expand their market reach and provide equitable
solutions across the country. The lack of ophthalmic infrastructure in rural
regions can also discourage investment from both local and international
pharmaceutical companies, limiting the availability and distribution of
ophthalmic drugs in these underserved areas.
Regulatory and Approval
Barriers
The
regulatory environment in Vietnam presents another challenge to the ophthalmic
drugs market. While the government has made improvements in its healthcare
policies and regulations, the approval process for new ophthalmic drugs can be
lengthy and cumbersome. Pharmaceutical companies must navigate complex
regulatory frameworks to obtain approval for both domestic and imported drugs.
The process involves various stages, including clinical trials, safety
evaluations, and compliance with Good Manufacturing Practices (GMP). These
regulatory hurdles can delay the launch of new drugs, limiting their
availability to patients and prolonging market entry times for pharmaceutical
companies.
For
international pharmaceutical companies looking to enter the Vietnamese market,
understanding and adhering to local regulatory standards can be a major
barrier. The complexity of the regulatory system may require significant time
and financial resources to ensure compliance, slowing down the introduction of
innovative products and treatments. There may be inconsistencies in enforcement
and occasional delays in regulatory approvals, which can disrupt market
planning and delay the availability of critical ophthalmic drugs. Even after a
drug is approved, its distribution can be affected by further bureaucratic
challenges, such as the need for local distribution permits and marketing
approvals. These regulatory barriers increase the costs and time required to
introduce new drugs, thereby hindering the overall growth of the ophthalmic
drugs market in Vietnam.
Key Market Trends
Technological Advancements in
Ophthalmic Drug Development
The
development of advanced technologies in ophthalmic drug formulation and
delivery is another key driver of the market. Innovations in drug delivery
systems, such as ocular implants, sustained-release devices, and new
formulations of eye drops, have significantly improved the effectiveness and
convenience of ophthalmic treatments. These advancements have led to better
outcomes for patients with chronic eye conditions, such as glaucoma,
age-related macular degeneration, and diabetic retinopathy. The increasing use
of biotechnology and nanotechnology in ophthalmology is opening new doors for
developing drugs that are more efficient and targeted. For example, targeted
drug delivery systems can ensure that the drug is delivered directly to the
affected area of the eye, minimizing side effects and improving therapeutic
outcomes. These advanced technologies have enabled the development of drugs
that can address complex eye diseases that were previously challenging to
treat. As a result, the availability of such innovative treatments is fueling
the demand for ophthalmic drugs in Vietnam.
Expansion of International and
Local Pharmaceutical Companies
Both
international and local pharmaceutical companies are increasingly focusing on
the Vietnamese ophthalmic drugs market. This is a result of the growing demand
for ophthalmic treatments, as well as the market’s potential for future growth.
Global companies are actively investing in Vietnam, entering into partnerships
with local pharmaceutical firms, and establishing distribution networks to make
ophthalmic drugs more widely available across the country. Local companies, on
the other hand, are striving to develop innovative, cost-effective ophthalmic
drugs tailored to the specific needs of the Vietnamese population. These
companies are also working to improve the availability of ophthalmic drugs in
both urban and rural areas. With increasing competition in the market,
pharmaceutical companies are also pushing for product innovation and improving
the quality of ophthalmic drugs to differentiate themselves from competitors.
This expansion of both local and international companies is contributing to the
overall growth of the ophthalmic drugs market in Vietnam.
Segmental Insights
Drug Class Insights
Based
on the Drug Class, Anti-glaucoma drugs are currently dominating
the ophthalmic drugs market. Glaucoma, a leading cause of blindness worldwide,
is highly prevalent in Vietnam, particularly among the aging population. As the
country experiences demographic changes with an increasingly older population,
the incidence of age-related eye diseases such as glaucoma has risen
significantly. This has resulted in a growing demand for effective treatments
to manage the condition. Anti-glaucoma medications, including beta-blockers, prostaglandin
analogs, alpha agonists, and carbonic anhydrase inhibitors, are commonly
prescribed to control intraocular pressure (IOP) and prevent optic nerve damage
associated with glaucoma. These treatments are crucial in slowing the
progression of the disease and preserving vision, which has led to their
widespread use in the country.
Vietnam's healthcare system
has made strides in improving access to ophthalmic care, but glaucoma remains a
major challenge. Early diagnosis and long-term management are essential, and
anti-glaucoma drugs play a key role in treatment regimens. The increasing
awareness about glaucoma, driven by both government initiatives and eye care
professionals, has contributed to the rise in demand for these drugs. As more
individuals are diagnosed with glaucoma, especially those with risk factors
such as hypertension, diabetes, and a family history of the disease, the market
for anti-glaucoma drugs has expanded further.
Drug Disease Insights
Based
on the Drug Disease, Glaucoma is currently dominating the ophthalmic drugs
market. Glaucoma, a leading cause of blindness, has a significant prevalence in
Vietnam, particularly as the population ages. The country is experiencing an
aging demographic, and with this shift, there has been a rise in the incidence
of glaucoma, making it one of the primary conditions driving demand for
ophthalmic medications. Glaucoma is characterized by increased intraocular
pressure (IOP) that can lead to optic nerve damage, resulting in vision loss.
Early diagnosis and effective treatment are crucial to controlling the disease,
and this has led to a substantial and growing market for anti-glaucoma drugs.
The
treatment of glaucoma involves a variety of pharmaceutical interventions, most
commonly medications designed to reduce intraocular pressure. These include
beta-blockers, prostaglandin analogs, alpha agonists, carbonic anhydrase
inhibitors, and rho kinase inhibitors. Among these, prostaglandin analogs have
become particularly popular due to their effectiveness in lowering IOP with
fewer side effects compared to other classes of drugs. The chronic nature of
glaucoma necessitates long-term treatment, and this has ensured a steady demand
for anti-glaucoma drugs in the Vietnamese market. The fact that many patients
require ongoing medication for years, often for the rest of their lives, makes
glaucoma one of the most significant contributors to the ophthalmic drug market
in Vietnam.
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Regional Insights
Southern Vietnam is currently the dominant
region. This is due to a combination of factors including the region’s larger
population, more developed healthcare infrastructure, greater economic
prosperity, and increased awareness of eye health. Southern Vietnam,
particularly Ho Chi Minh City, the economic and commercial hub of the country,
has a well-established healthcare system with a higher concentration of
specialized medical centers, ophthalmologists, and advanced diagnostic tools.
This has contributed to a more widespread adoption of ophthalmic drugs and
treatments in the region compared to other parts of the country.
Ho Chi Minh City, being the largest city in
Vietnam, has a significant proportion of the country’s population. With a high
concentration of both urban residents and healthcare professionals, it acts as
the center for both pharmaceutical distribution and consumption of ophthalmic
medications. Southern Vietnam is home to many private healthcare providers,
which often offer more advanced treatments and facilities compared to the
public healthcare sector. These private hospitals and clinics frequently stock
a wide range of ophthalmic drugs, from basic treatments to more specialized
medications such as Anti-VEGF agents or treatments for retinal disorders and
glaucoma, which are in high demand in the region due to an aging population and
rising awareness about eye health.
Recent Developments
- In November 2024, the Ministry of Health has proposed a policy to promote the transfer of
new and innovative drugs, aiming to increase opportunities for patients. According
to the Drug Administration of Vietnam (DAV), innovative drugs in the country
account for only about 3% of the total market but represent up to 22% of the
value and are mainly imported. Only a small number of medicines have been
researched and produced domestically or have undergone initial technology
transfers for local production. The World Health Organization (WHO) classifies
Vietnam’s pharmaceutical industry at Level 3, indicating that it is capable of
producing generic drugs and is partially self-sufficient in certain
pharmaceutical products. The pharmaceutical market is projected to reach
between 6.5 to 7 billion USD in 2023-2024, with imports accounting for around
3.5 billion USD.
- In November 2024, DND
International Eye Hospital has become the first facility in Vietnam to adopt
SMILE Pro technology for refractive eye surgery. The hospital states that this
technology utilizes a 2mm incision, enabling quick correction of refractive
errors with lower risks and faster recovery times. In addition, the facility is
equipped with FDA-approved systems, including the VISUMAX 800 laser and the
Femto LDV Z8.
- In August 2024, Orbis has launched an AI-powered
diabetic retinopathy (DR) project in Vietnam, with the goal of screening 72,000
individuals with diabetes over the next three years. The initiative focuses on
providing AI-assisted screenings, specialized training for screening teams, and
increasing community awareness about diabetic retinopathy. Orbis has also received a donation of
six fundus cameras from Nidek, which is collaborating with Orbis on the DR
project. The cameras have been distributed across six healthcare facilities in
three provinces of Vietnam. This project marks the first time Nidek fundus
cameras will integrate Cybersight AI for routine screening applications.
- In September 2024, Samil
Pharmaceutical, a Korean drugmaker listed on the Kospi, announced that its eye
drop CDMO (Contract Development and Manufacturing Organization) facility in Ho
Chi Minh City, Vietnam, has received Good Manufacturing Practice (GMP)
certification from the Drug Administration of Vietnam (DAV). With this
certification, the facility is now officially authorized to manufacture
pharmaceutical products. Located in the Saigon Hi-Tech Park (SHTP) in Ho Chi
Minh City, the plant covers a total area of 25,000 square meters and includes
three production wings and four office wings.
Key Market Players
- Bayer Vietnam Ltd.
- DHG Pharmaceutical Joint Stock Company
- Traphaco Joint Stock Company
- Pharmaceutical Corporation Ha Tay
- Domesco Medical Import Export Joint Stock Corporation
(DOMESCO)
- OPC Pharmaceutical Joint Stock Company
- Sanofi-Aventis Vietnam
- Mekophar Chemical and Pharmaceutical JSC
- Merck Vietnam Company Ltd.
- Pymepharco Joint Stock Company
|
By
Drug Class
|
By
Drug Disease
|
By
Route Of Administration
|
By
Dosage Type
|
By
Region
|
- Anti-Allergy
- Anti-VEGF
agents
- Anti-inflammatory
- Anti-glaucoma
- Gene
& Cell Therapy
- Others
|
- Dry
Eye
- Allergies
- Glaucoma
Infection
- Retinal
Disorders
- Uveitis
- Others
|
|
- Gels
- Eye
solutions & suspensions
- Capsules
& Tablets
- Eye
drops
- Ointments
|
- Southern
Vietnam
- Northern
Vietnam
- Central
Vietnam
|
Report Scope:
In this report, the
Vietnam Ophthalmic Drugs Market has
been segmented into the following categories, in addition to the industry
trends which have also been detailed below:
·
Vietnam Ophthalmic Drugs Market, By Drug Class:
o Anti-Allergy
o Anti-VEGF agents
o Anti-inflammatory
o Anti-glaucoma
o Gene & Cell Therapy
o Others
·
Vietnam Ophthalmic Drugs Market, By Drug Disease:
o Dry Eye
o Allergies
o Glaucoma Infection
o Retinal Disorders
o Uveitis
o Others
·
Vietnam Ophthalmic Drugs Market, By Route Of Administration:
o Topical
o Local Ocular
·
Vietnam Ophthalmic Drugs Market, By Dosage Type:
o Gels
o Eye solutions & suspensions
o Capsules & Tablets
o Eye drops
o Ointments
- Vietnam Ophthalmic Drugs Market, By Region:
o Southern Vietnam
o Northern Vietnam
o Central Vietnam
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in the Vietnam Ophthalmic Drugs Market.
Available Customizations:
Vietnam
Ophthalmic Drugs Market report with
the given market data, TechSci Research offers customizations according to a
company's specific needs. The following customization options are available for
the report:
Company Information
- Detailed analysis and profiling of
additional market players (up to five).
Vietnam Ophthalmic Drugs Market is an upcoming report to be released
soon. If you wish an early delivery of this report or want to confirm the date
of release, please contact us at [email protected]