Tuesday, August 22 2017

VietNamNews

Drug demand rising in Viet Nam

Update: December, 04/2013 - 09:10

In 2012, Viet Nam's pharmaceutical market was worth nearly US$3 billion, estimated to grow at a rate of more than 20 per cent by 2017.— Photo petrotimes

HA NOI (VNS) — Viet Nam ranks 13th out of 175 countries for the fastest growing in drug spending, according to the Business Monitor International – an independent provider of proprietary data, analysis, rating, and ranking.

In 2012, Viet Nam's pharmaceutical market was worth nearly US$3 billion, estimated to grow at a rate of more than 20 per cent by 2017.

Drug consumption per capita in Viet Nam is also climbing. A Vietnamese citizen spent $104 on medicine products in 2010, compared to $148 in China and $51 in India. It is expected to double by 2015.

Meanwhile, local pharmaceutical production only satisfied nearly half of Viet Nam's drug needs in 2012. Those products were almost all low-cost generics. — VNS

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