Oncology Drugs - Vietnam | Statista Market Forecast

The projected revenue for the Oncology Drugs market in Vietnam is expected to reach US$365.50m in 2024.
This market is anticipated to show a steady annual growth rate (CAGR 2024-2029) of 7.72%, leading to a market volume of US$530.20m by 2029.
In comparison to other countries, United States is projected to generate the highest revenue in the Oncology Drugs market, amounting to US$103.90bn in 2024.
Vietnam's oncology drug market is experiencing rapid growth, driven by increasing healthcare expenditure and a rising incidence of cancer in the country.

Definition:
The Oncology Drugs market covers drugs to treat cancer, including chemotherapy and immunotherapy. These therapies are used for solid tumors and hematologic cancer. The medications in this market are mainly physician-administered drugs.

Additional information:
Market values represent the revenues generated by manufacture prices paid to primary vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), companies (B2B), and governments (B2G).

Company examples: Bristol-Myers Squibb, Roche, Merck & Co, Novartis, Johnson & Johnson

Treatment for different types of cancer, including skin cancer, leukemia, lymphoma, and multiple myeloma
Chemotherapeutic agents
Immuno-oncology drugs
Oncology orphan drugs

Radiation therapy
Medical devices

Vietnam, a country in Southeast Asia, has been experiencing a steady growth in its Oncology Drugs market.

Customer preferences: The increasing demand for Oncology Drugs in Vietnam is primarily driven by the rise of cancer cases in the country. According to the World Health Organization (WHO), cancer is one of the leading causes of death in Vietnam. With the increasing number of cancer patients, the demand for Oncology Drugs has also been on the rise.

Trends in the market: The Oncology Drugs market in Vietnam has been witnessing a shift towards targeted therapies. Targeted therapies are drugs that specifically target cancer cells, while leaving healthy cells unharmed. This approach is gaining popularity in Vietnam due to its effectiveness and reduced side-effects. Additionally, there has been an increasing trend towards the use of immunotherapies. Immunotherapies are drugs that stimulate the body's immune system to fight cancer cells.

Local special circumstances: Vietnam has a developing healthcare system, with a high demand for affordable cancer treatments. As a result, there has been an increasing interest in generic drugs. These drugs are cheaper alternatives to branded drugs, and have the same active ingredients. The Vietnamese government has been promoting the use of generic drugs to make cancer treatments more accessible to the general population.

Underlying macroeconomic factors: Vietnam's economy has been growing steadily over the past few years, with a focus on healthcare infrastructure development. The government has been investing heavily in the healthcare sector, with a particular focus on cancer treatment. Additionally, Vietnam has been attracting foreign investment in the Oncology Drugs market. These investments have been instrumental in the development of new drugs and technologies in the country. In conclusion, Vietnam's Oncology Drugs market has been witnessing a steady growth in recent years, driven by the increasing demand for cancer treatments. The shift towards targeted therapies and immunotherapies, along with the interest in generic drugs, is shaping the market trends in the country. With the government's focus on healthcare infrastructure development and foreign investments, the Oncology Drugs market in Vietnam is expected to continue its growth trajectory.

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

Cancer is one of the leading causes of death worldwide, with lung cancer alone ranked the sixth leading cause of death in 2021. Cancer, also known as malignant tumors and neoplasms, is the result of interactions between personal genetic factors and external agents causing abnormal transformations of cells into tumors over time. As the global population has increased in age, the incidence of new cancer cases has also risen, contributing to a higher number of deaths each year. In 2022, nearly 10 million deaths were caused by cancer worldwide- a number which is expected to reach over 15 million by 2040.