New Healthcare research report from Business Monitor International is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 01/28/2014 -- BMI View: The upgrade to our private healthcare forecast stems largely from the Vietnamese government's plan to pass hospital operating costs to patients. We highlight that this is potentially regressive should hospitals attempt to profit from such policies. Nevertheless, we remain largely optimistic towards Vietnam's healthcare sector, as it is seeking to implement universal healthcare for its population, which will improve access to services.
Headline Expenditure Projections
- Pharmaceuticals: VND59,214bn (US$2.84bn) in 2012 to VND69,297bn (US$3.32bn) in 2013; +17.0% in local currency terms and +16.9% in US dollar terms. Forecast unchanged from Q413, long-term forecast slightly upgraded to reflect general bullish sentiments in Vietnam's economy.
- Healthcare: VND201,466bn (US$9.65bn) in 2012 to VND230,985bn (US$11.1bn) in 2013; +14.7% in local currency terms and +14.5% in US dollar terms. Forecast broadly in line with Q313.
View Full Report Details and Table of Contents
Risk/Reward Rating: Vietnam's Pharmaceutical Risk/Reward Rating (RRR) score for Q114 is 49.1 out of the maximum 100 in our newly improved RRR system. The country scored above average for some indicators and sub-indicators, including overall market expenditure and sector value growth, pensionable population. Consequently, with this moderate score Vietnam continues ranked 13th behind Thailand out of the 19 key markets in Asia Pacific.
Key Trends And Developments
- In December 2013, Vietnam and Cuba signed a memorandum of understanding (MoU) for regulating pharmaceuticals and boosting public health cooperation as proposed by the Intergovernmental Commission at its September session. The MoU was signed by Rafael Perez Cristia, the director of the Cuban state regulatory agency for medicine, CECMED, and Truong Quoc Cuong, the general director of Vietnam's Drug Administration, in the presence of Vietnamese Vice Minister Nguyen Than Long. Earlier in September 2013, the Intergovernmental Commission met in Havana and expressed its interest to support collaboration projects between specialised institutions in the two countries.
- In November 2013, the Vietnamese Ministry of Health's Administration of Science, Technology and Training (ASTT) signed an agreement with Quintiles to enhance clinical research. Under the two-year agreement, Quintiles and ASTT will jointly address a number of topics, such as improving processes for trial management, developing streamlined processes to improve trial efficiency and quality as well as training for investigators and ethics committees.
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