Vietnam’s pharmaceutical market to top regional growth by 2013: report

Vietnam’s pharmaceutical market is forecasted to top Asia-Pacific region’s growth at a Compound Annual Growth Rate of 19 percent in 2011 – 2013, said a recent survey conducted by an India-based market research and information analysis company.

Vietnam is one of the fastest growing economies in Southeast Asia since growing economy, liberalized trade, and technological advancements are providing opportunities to every sector in the country, said RNCOS’ “Asia Pacific Pharma Sector Analysis” report.

Due to these factors, the pharmaceutical market is also emerging as a fast growing sector.

Besides, the expenditure made by the country on the medicines surged up by a double digit growth rate in 2009, which has fuelled the growth of the market.

In addition to this, the report also identifies various factors responsible for the growth of the industry.

The main factor among several factors discussed in the report is the entry of various pharmaceutical giants in the country. Due to huge growth potential of the pharmaceutical market of the country, Vietnam has attracted 39 foreign direct investment (FDI) projects in the pharmaceutical industry, of which 22 specialize in the production of medicine.

The report has included several countries of the region based on the developments occurring in each country in regard with pharmaceutical industry, including China, India, Japan, South Korea, Vietnam, Indonesia, Malaysia, Thailand, the Philippines, Australia, and New Zealand.

For each country, it has provided detail statistical data of the pharmaceutical industry, its segmentation, and regulatory environment prevailing in the industry.

“Asia Pacific Pharma Sector Analysis” also provides information of the key competitors in each country included in the report along with their business information and areas of expertise.

It provides segment level analysis of the industry along with emerging trends that may shape up with the betterment of economic conditions.

The research will help consultants, industry analysts, and vendors to get in-depth knowledge of the current, past, and future performance of the industry.

The report provides an extensive research on the recent trends of the Asia-Pacific pharmaceutical industry along with impartial analysis considering the impact of financial crisis on its performance.

Tags: Vietnam pharmaceutical market