Vietnam Pharmaceuticals & Healthcare Report Q3 2012 - New Market Research Report

Recently published research from Business Monitor International, "Vietnam Pharmaceuticals & Healthcare Report Q3 2012", is now available at Fast Market Research


Boston, MA -- (SBWire) -- 09/20/2012 --BMI View: Vietnam continues to be viewed as a promising, but risky, commercial proposition. We envisage continued involvement of multinational companies in both its pharmaceutical and healthcare markets, although the country's longer term potential will continue to be clouded by the lacking intellectual property (IP) climate and the prevalence of corruption, among other issues.

Headline Expenditure Projections

- Pharmaceuticals: VND39,003bn (US$1.89bn) in 2011 to VND45,284bn (US$2.15bn) in 2012; +16.1% in local currency terms and +14.0% in US dollar terms. Forecast unchanged from Q312.
- Healthcare: VND157, 234bn (US$7.61bn) in 2011 to VND180,892bn (US$8.60bn) in 2012; +15.0% in local currency terms and +13.0% in US dollar terms. Forecast broadly unchanged from Q312, despite lowering of historical data.
- Medical devices: VND15,137bn (US$733mn) in 2011 to VND17,026bn (US$809mn) in 2012; +12.5% in local currency terms and +10.4% in US dollar terms. Forecast slightly lower from Q312, party on account of changed historical data.

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Risk/Reward Rating: In the current quarter's regional Risk/Reward Rating (RRR), Vietnam scores 40.9, which is lower in relation to Q212, but still ranks the country 14th out of the 18 key markets surveyed in Asia Pacific. Globally, Vietnam is 72nd out of 95 countries assessed. Its longer-term attractiveness is clouded by low per capita spending and also by the risky operating environment, complete with widespread prevalence of counterfeit drugs, despite the benefits expected to be brought about by the country's economic development.

Key Trends And Developments

- In May 2012, a local subsidiary of Japanese Hisamitsu Pharmaceutical Co Inc inaugurated a new factory. The investment in the plant, located in Dong Nai province's Bien Hoa Industrial Park, topped US$16.84mn. The factory - run by Hisamitsu Vietnam Pharmaceutical Co Ltd - will produce Salonpas pain-relief patches, as the company responds to increased demand for the product, both locally and regionally.
- In April 2012, the Drug Administration of Vietnam (DAV) stated that it will heavily fine organisations that violate medicine price regulations from June 2012. New price regulations have been established by the ministries of health, finance and industry and trade. According to the inter-department circular, traders will be wholly responsible for their product's original, listed and selling prices, which will be strictly monitored by the price management authorities. Drugmakers will have to record both import prices and original prices of foreign-made as well as domestically-produced drugs. They also need to register the wholesale and retail prices offered to the DAV, the Ministry of Health and local health centres.

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