Vietnam Diabetes Care Drugs Market Size
| Study Period | 2018 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 208.45 Million |
| Market Size (2029) | USD 249.97 Million |
| CAGR (2024 - 2029) | 3.70 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Vietnam Diabetes Care Drugs Market Analysis
The Vietnam Diabetes Care Drugs Market size is estimated at USD 208.45 million in 2024, and is expected to reach USD 249.97 million by 2029, growing at a CAGR of 3.70% during the forecast period (2024-2029).
Vietnam has effectively stopped transmission of the COVID-19 outbreak since the outset, with no deaths for months. Since then, however, the fourth wave of the COVID-19 outbreak has wreaked devastation on Vietnam. According to the Ministry of Health, Vietnam has seen four waves of the COVID-19 epidemic (MOH).
COVID-19 (coronavirus disease) has been found as a highly infectious viral infection caused by coronavirus-2 that produces severe acute respiratory syndrome (SARS-CoV-2). Diabetes is a major risk factor for fatal COVID-19 outcomes. Diabetes patients are vulnerable to infection due to hyperglycemia, impaired immune function, vascular issues, and comorbidities such as hypertension, dyslipidemia, and cardiovascular disease. Furthermore, angiotensin-converting enzyme 2 (ACE2) is a SARS-CoV-2 receptor in humans. As a result, angiotensin-converting enzyme (ACE) inhibitors must be used with caution in diabetic individuals. COVID-19 severity and mortality were significantly higher in diabetics than in non-diabetics. As a result, diabetics should exercise caution during the COVID-19 epidemic.
COVID-19 (coronavirus disease) has been found as a highly infectious viral infection caused by coronavirus-2 that produces severe acute respiratory syndrome (SARS-CoV-2). Diabetes is a major risk factor for fatal COVID-19 outcomes. Diabetes patients are vulnerable to infection due to hyperglycemia, impaired immune function, vascular issues, and comorbidities such as hypertension, dyslipidemia, and cardiovascular disease. Furthermore, angiotensin-converting enzyme 2 (ACE2) is a SARS-CoV-2 receptor in humans. As a result, angiotensin-converting enzyme (ACE) inhibitors must be used with caution in diabetic individuals. COVID-19 severity and mortality were significantly higher in diabetics than in non-diabetics. As a result, diabetics should exercise caution during the COVID-19 epidemic.
In terms of medicines, the insulin category commands a sizable market share. Over 100 million people worldwide use insulin, including all persons with Type 1 diabetes and 10% to 25% of people with Type 2 diabetes. Insulin production is extremely sophisticated, and there are only a few insulin manufacturers on the market. As a result, there is fierce rivalry among these producers, who are continually striving to satisfy the demands of patients by providing the highest-quality insulin.
Vietnam Diabetes Care Drugs Market Trends
Oral-Anti Diabetes Drugs is Having the Highest Market Share in the Current Year.
The oral anti-diabetic drugs segment is expected to increase, registering a CAGR of over 3.7% during the forecast period, mainly due to the demand from the diabetes population, which was more than 4.2 million by the end of the current year.
Health insurance was implemented in Vietnam over a decade ago, but coverage remains limited. Vietnam is a low- to middle-income country, with a GDP per capita of about USD 4310. As a result, the cost of diabetes treatment exerts major pressure on a patient's family budget. Vietnam is a low- to middle-income country, with a GDP per capita of about USD 4310. As a result, the cost of diabetes treatment exerts major pressure on a patient's family budget. Diabetes medication is affordable in HCMC as compared to the cost of treating other chronic diseases such as infectious, cardiovascular, and renal issues. The country's elderly population has put a strain on the healthcare system as well as social security services and regulations. As a result, the government must adopt new policy initiatives to lessen the burden of diabetes treatment and healthcare expenditures.
Vietnam is aiming to achieve universal health insurance coverage and has decentralized the management of health to lower levels of the country's administrative structure.
Each institution in Vietnam uses the Ministry of Health's guidelines for pricing different drugs to create their unique bids. Some of these costs were up to six times those found on the worldwide market. The purchase of branded drugs vs. generics influences facility spending in Vietnam and, hence, on the individual and/or the insurance system. Diabetes is recognized in Vietnam as a public health burden, and public health officials have taken steps to alleviate the burden. The diabetes burden in Vietnam is the outcome of several epidemiologic trends and factors. Diabetes has the potential to become an epidemic, imposing massive public health and economic burdens on Vietnam. Although the prevalence of diabetes in rural regions remains low, it is increasing. Diabetes is as common in large cities as it is in the rest of the Western world.
Through the Vietnam government's encouragement, the usage of management devices increased over the forecast period.
Increasing Diabetes population in Vietnam
Diabetes is one of the four main non-communicable diseases (NCDs), and its global incidence has increased substantially in recent years. Diabetes is increasing at a rate of roughly 6.23% per year in Vietnam, and it has become a severe health and economic burden for Vietnamese society. Economic growth and societal changes have an influence on disease patterns ranging from infectious illnesses to noncommunicable diseases, with diabetes being one of Vietnam's seven leading causes of death and disability. Obesity prevalence in Vietnam remains relatively low, despite significant increases over the last decade, notably in the last five years. There has been a significant shift in food patterns, which corresponds to changes in the obesity prevalence rate. In Vietnam, cigarette smoking is a major risk factor for diabetes. According to a new meta-analysis, cigarette smokers are 44% more likely to get diabetes than nonsmokers. Although cigarette smoking is common among Vietnamese males, the trend is downward. Diabetes prevalence rates are rising in correlation with changes in risk factors such as obesity and a Westernized food pattern. Diabetes is typically thought to be avoidable via lifestyle modifications such as good food and regular physical activity, although additional study is needed to support this hypothesis for the Vietnamese community.
In Vietnam, insulin and oral diabetic medications are subject to a 5% import tariff and a 5% VAT. Mark-ups across the supply chain raise the price in the public and private sectors for individuals without health insurance.
Thus, owing to the above factors, it is expected to drive market growth over the forecast period.
Vietnam Diabetes Care Drugs Industry Overview
The Vietnam diabetes drugs market is moderately fragmented, with few significant and generic players. The insulin and Sglt-2 drug markets are dominated by a few major players, like Novo Nordisk, Sanofi, AstraZeneca, and Bristol-Myers Squibb. The market for oral drugs like sulfonylureas and meglitinides comprises more generic players. The intensity of competition among the players is high, as each player is striving to develop new drugs and offer them at competitive pricing. Furthermore, to increase their market shares, players are tapping into new markets, especially emerging economies where the demand is very high compared to the supply.
Vietnam Diabetes Care Drugs Market Leaders
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Eli Lilly
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Boehringer Ingelheim
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Astrazeneca
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Sanofi
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NovoNordisk
*Disclaimer: Major Players sorted in no particular order
Vietnam Diabetes Care Drugs Market News
- December 2022: Viatris announced the expansion of an existing partnership with Cypriot pharmaceutical company Medochemie, which aimed to boost drug production in Vietnam and improve patients' access to locally made medicines there. Specifically, Viatris was expected to transfer the technology that Medochemie was to use under license to make certain drugs from Viatris' noncommunicable disease portfolio.
- August 2022: Vietnam declared that'H岷� An 膼瓢峄漬g' does not cure diabetes. The product packaged as Vietnamese H岷� An 膼瓢峄漬g was believed to cure diabetes and was not on the Philippine Food and Drug Administration's (FDA) list of approved drugs and food products.
Vietnam Diabetes Care Drugs Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Oral Anti-diabetic Drugs
5.1.1 Biguanides
5.1.1.1 Metformin
5.1.2 Alpha-Glucosidase Inhibitors
5.1.2.1 Alpha-Glucosidase Inhibitors
5.1.3 Dopamine D2 receptor agonist
5.1.3.1 Bromocriptin
5.1.4 SGLT-2 inhibitors
5.1.4.1 Invokana (Canagliflozin)
5.1.4.2 Jardiance (Empagliflozin)
5.1.4.3 Farxiga/Forxiga (Dapagliflozin)
5.1.4.4 Suglat (Ipragliflozin)
5.1.5 DPP-4 inhibitors
5.1.5.1 Onglyza (Saxagliptin)
5.1.5.2 Tradjenta (Linagliptin)
5.1.5.3 Vipidia/Nesina(Alogliptin)
5.1.5.4 Galvus (Vildagliptin)
5.1.6 Sulfonylureas
5.1.6.1 Sulfonylureas
5.1.7 Meglitinides
5.1.7.1 Meglitinides
5.2 Insulin Drugs
5.2.1 Basal or Long Acting Insulins
5.2.1.1 Lantus (Insulin Glargine)
5.2.1.2 Levemir (Insulin Detemir)
5.2.1.3 Toujeo (Insulin Glargine)
5.2.1.4 Tresiba (Insulin Degludec)
5.2.1.5 Basaglar (Insulin Glargine)
5.2.2 Bolus or Fast Acting Insulins
5.2.2.1 NovoRapid/Novolog (Insulin Aspart)
5.2.2.2 Humalog (Insulin Lispro)
5.2.2.3 Apidra (Insulin Glulisine)
5.2.3 Traditional Human Insulins
5.2.3.1 Novolin/Actrapid/Insulatard
5.2.3.2 Humulin
5.2.3.3 Insuman
5.2.4 Biosimilar Insulins
5.2.4.1 Insulin Glargine Biosimilars
5.2.4.2 Human Insulin Biosimilars
5.3 Combination Drugs
5.3.1 Insulin combinations
5.3.1.1 NovoMix (Biphasic Insulin Aspart)
5.3.1.2 Ryzodeg (Insulin Degludec and Insulin Aspart)
5.3.1.3 Xultophy (Insulin Degludec and Liraglutide)
5.3.2 Oral Combinations
5.3.2.1 Janumet (Sitagliptin and Metformin)
5.4 Non-Insulin Injectable Drugs
5.4.1 GLP-1 receptor agonists
5.4.1.1 Victoza (Liraglutide)
5.4.1.2 Byetta (Exenatide)
5.4.1.3 Bydureon (Exenatide)
5.4.1.4 Trulicity (Dulaglutide)
5.4.1.5 Lyxumia (Lixisenatide)
5.4.2 Amylin Analogue
5.4.2.1 Symlin (Pramlintide)
6. MARKET INDICATORS
6.1 Type-1 Diabetic Population
6.2 Type-2 Diabetic Population
7. COMPETITIVE LANDSCAPE
7.1 COMPANY PROFILES
7.1.1 Takeda
7.1.2 Novo Nordisk
7.1.3 Pfizer
7.1.4 Eli Lilly
7.1.5 Janssen Pharmaceuticals
7.1.6 Astellas
7.1.7 Boehringer Ingelheim
7.1.8 Merck And Co.
7.1.9 AstraZeneca
7.1.10 Bristol Myers Squibb
7.1.11 Novartis
7.1.12 Sanofi
- *List Not Exhaustive
7.2 COMPANY SHARE ANALYSIS
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
Vietnam Diabetes Care Drugs Industry Segmentation
Diabetes, or diabetes mellitus, describes a group of metabolic disorders characterized by a high blood sugar level in a person. With diabetes, the body either does not produce enough insulin or the body's cells do not respond properly to insulin, or both. The Vietnam diabetes care drugs market is segmented by drugs into insulin (basal or long-acting, bolus or fast-acting, traditional human insulin drugs, and insulin biosimilars), oral anti-diabetic drugs (alpha-glucosidase inhibitors, DPP-4 inhibitors, and SGLT-2 inhibitors), non-insulin injectable drugs (GLP-1 receptor antagonists, and Amylin analogs), and combination drugs (combined insulin, oral combination). The report offers the value (in USD million) and volume (in unit million) for the above segments.
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Vietnam Diabetes Care Drugs Market Research FAQs
How big is the Vietnam Diabetes Care Drugs Market?
The Vietnam Diabetes Care Drugs Market size is expected to reach USD 208.45 million in 2024 and grow at a CAGR of 3.70% to reach USD 249.97 million by 2029.
What is the current Vietnam Diabetes Care Drugs Market size?
In 2024, the Vietnam Diabetes Care Drugs Market size is expected to reach USD 208.45 million.
Who are the key players in Vietnam Diabetes Care Drugs Market?
Eli Lilly, Boehringer Ingelheim, Astrazeneca, Sanofi and NovoNordisk are the major companies operating in the Vietnam Diabetes Care Drugs Market.
What years does this Vietnam Diabetes Care Drugs Market cover, and what was the market size in 2023?
In 2023, the Vietnam Diabetes Care Drugs Market size was estimated at USD 201.01 million. The report covers the Vietnam Diabetes Care Drugs Market historical market size for years: 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Vietnam Diabetes Care Drugs Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Vietnam Diabetes Care Drugs Industry Report
Statistics for the 2024 Vietnam Diabetes Care Drugs market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Vietnam Diabetes Care Drugs analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
