Anti-Diabetes Drugs - Vietnam

Vietnam

The Anti-Diabetes Drugs market in Vietnam is expected to witness significant growth in the coming years.
By 2024, the projected revenue is estimated to reach US$211.20m.
This growth is anticipated to continue with an annual growth rate of 8.25% from 2024 to 2029, resulting in a market volume of US$314.00m by 2029.
When compared to other countries, United States is expected to generate the highest revenue in the Anti-Diabetes Drugs market, with a projected revenue of US$37,840.00m in 2024.
in Vietnam, although smaller in market size, is poised to contribute to the overall growth and development of the Anti-Diabetes Drugs market.
The demand for anti-diabetes drugs in Vietnam is rising steadily due to the increasing prevalence of diabetes in the country.

Key regions: India, Australia, Italy, Europe, Brazil

Market

Region

Region comparison

Currency

Analyst Opinion

The prevalence of diabetes in Vietnam has been increasing over the past few decades, leading to a growing demand for anti-diabetes drugs.

Customer preferences: Patients in Vietnam prefer oral medications to insulin injections, due to the convenience and ease of use. Additionally, generic drugs are popular due to their affordability.

Trends in the market: The anti-diabetes drugs market in Vietnam is expected to continue its growth trend, driven by the increasing prevalence of diabetes, rising healthcare expenditure, and the availability of new drugs. The market is dominated by multinational pharmaceutical companies, which hold a significant share of the market due to their strong brand recognition and extensive distribution networks. However, domestic pharmaceutical companies are gaining traction in the market, offering more affordable options for patients.

Local special circumstances: The Vietnamese government has implemented policies to increase access to healthcare services, including the expansion of health insurance coverage and the development of primary healthcare facilities. This has led to an increase in demand for anti-diabetes drugs, as more patients are able to access affordable healthcare services.

Underlying macroeconomic factors: Vietnam's economy has been growing steadily over the past few years, which has led to an increase in disposable income and healthcare expenditure. This has contributed to the growth of the anti-diabetes drugs market, as patients are able to afford more expensive medications. Additionally, the aging population in Vietnam is expected to drive demand for anti-diabetes drugs, as the risk of developing diabetes increases with age.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on drug revenues allocated to the country where the money is spent. Monetary values are given at manufacturer price level excluding VAT.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market. As a basis for evaluating markets, we use financial information of the key players by market. Next, we use relevant key market indicators and data from country-specific associations, such as industry associations. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. The main driver is healthcare expenditure. Expiring patents and new drugs in the pipeline are also considered.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. This market comprises prescription drugs and all OTC drugs covered in the Statista OTC Pharmaceuticals market. However, in the OTC Pharmaceuticals market, revenues are based on end-consumer prices.