Vietnam Diabetes Drugs Market to Grow at a CAGR of 6.48% During 2024-2032, Fueled by Expanding Diabetic Population

December 18, 2023 | Healthcare

According to the latest report by IMARC Group, titled “Vietnam Diabetes Drugs Market Report by Type (Insulins, Oral Anti-Diabetic Drugs, Non-Insulin Injectable Drugs, Combination Drugs), Distribution Channel (Online Pharmacies, Hospital Pharmacies, Retail Pharmacies), and Region 2024-2032,” the Vietnam diabetes drugs market is expected to exhibit a CAGR of 6.48% during 2024-2032. Diabetes drugs refer to pharmaceutical compounds and medications specifically designed to manage and regulate blood sugar levels in individuals diagnosed with diabetes. These drugs are essential in controlling diabetes, a chronic condition that affects the body's ability to either produce or utilize insulin effectively. Diabetes can lead to serious health complications if not adequately managed, making the development and availability of effective diabetes drugs a critical aspect of healthcare in Vietnam. These medications encompass a range of classes, including oral hypoglycemic agents, injectable insulin, and other adjunctive therapies, all aimed at achieving glycemic control and preventing diabetes-related complications.

Vietnam Diabetes Drugs Market Trends:

The rising prevalence of diabetes in Vietnam due to factors like changing lifestyles, unhealthy dietary habits, and a growing geriatric population is primarily driving the market growth. In line with this, ongoing advancements in pharmaceutical research and development (R&D) leading to the introduction of more efficacious and innovative diabetes drugs are bolstering the market growth. Moreover, the rising healthcare awareness and improved access to medical services in Vietnam have contributed to early diagnosis and treatment of diabetes, fostering the demand for diabetes drugs. At the same time, favorable government initiatives to address the diabetes epidemic and promote diabetes management are creating a positive outlook for market expansion. Concurrently, extensive collaborations between pharmaceutical firms and healthcare organizations, along with increased investment in healthcare infrastructure are providing an impetus to the market growth. In confluence with this, the evolving regulatory landscape and favorable reimbursement policies, making diabetes drugs more accessible to consumers in the country are presenting lucrative opportunities for market expansion. Furthermore, the increasing growth of the Vietnamese economy has resulted in higher disposable income levels enhancing the affordability of diabetes drugs, thereby contributing to the market growth. Apart from this, improved accessibility to healthcare services, especially in rural areas facilitating earlier diagnosis and treatment is playing a vital role in fueling the overall demand for diabetes drugs.

Market Summary:

  • Based on the type, the market has been segmented into insulins (basal or long acting, bolus or fast acting, traditional human, and biosimilar insulins), oral anti-diabetic drugs (biguanides, alpha-glucosidase inhibitors, dopamine D2 receptor agonist, SGLT-2 inhibitors, DPP-4 inhibitors, sulfonylureas, and meglitinides), non-insulin injectable drugs (GLP-1 receptor agonists and amylin analogue), and combination drugs (insulin combinations and oral combinations).
  • On the basis of the distribution channel, the market has been categorized as online, hospital, and retail pharmacies.
  • Region-wise, the market has been segregated into Northern, Central, and Southern Vietnam.
  • The competitive landscape of the market has been examined in the report, along with the detailed profiles of the major players operating in the industry.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
 Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Million
Scope of the Report Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment: 
  • Type
  • Distribution Channel
  • Region
Types Covered
  • Insulins: Basal or Long Acting Insulins, Bolus or Fast Acting Insulins, Traditional Human Insulins, Biosimilar Insulins
  • Oral Anti-Diabetic Drugs: Biguanides, Alpha-Glucosidase Inhibitors, Dopamine D2 Receptor Agonist, SGLT-2 Inhibitors, DPP-4 Inhibitors, Sulfonylureas, Meglitinides
  • Non-Insulin Injectable Drugs: GLP-1 Receptor Agonists, Amylin Analogue
  • Combination Drugs: Insulin Combinations, Oral Combinations
Distribution Channels Covered Online Pharmacies, Hospital Pharmacies Retail Pharmacies
Regions Covered Northern Vietnam, Central Vietnam, Southern Vietnam
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3699
Five User License: US$ 4699
Corporate License: US$ 5699
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Vietnam Diabetes Drugs Market to Grow at a CAGR of 6.48% During 2024-2032, Fueled by Expanding Diabetic Population
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