Vietnam Insulin Drug And Delivery Device Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 2.00 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Vietnam Insulin Drug And Delivery Device Market Analysis
Vietnam's Insulin Drug and Delivery Device Market is expected to register a CAGR of more than 2% and reach a value of about USD 483 million over the forecast period.
Vietnam had effectively managed the spread of the COVID-19 outbreak from its inception, with no fatalities for months. However, the fourth wave of the COVID-19 pandemic ravaged Vietnam since then. According to the Ministry of Health (MOH), Vietnam has seen four waves of the COVID-19 pandemic. The source of COVID-19 (coronavirus disease), a highly infectious viral sickness, has been identified as Coronavirus-2, which causes SARS-CoV-2. Diabetes is a major risk factor for fatal COVID-19 findings. People with diabetes are more susceptible to infection due to hyperglycemia, an impaired immune system, vascular difficulties, and coexisting illnesses such as hypertension, dyslipidemia, and cardiovascular disease. In humans, angiotensin-converting enzyme 2 (ACE2) is a SARS-CoV-2 receptor.
Because high levels of physical exercise and low-fat diets in Vietnam protected against obesity, a risk factor for the disease, many Vietnamese immigrants with type 2 diabetes mellitus had little understanding of it. The majority are impoverished, elderly, non-English speakers with profound cultural roots. These are significant barriers to early diabetes diagnosis and good diabetes care. The current study highlights a number of issues that these patients frequently face, such as transportation issues, a preference for Eastern herbal remedies, a dislike for "hot" oral drugs and insulin injections, and the use of doctors with Viet Nam training who may be out of touch with recent advances in diabetes treatment. Older women may be more vulnerable because of their historically low literacy rates and lack of normal assertiveness in a culture dominated by men.
Vietnam Insulin Drug And Delivery Device Market Trends
Insulin Devices is Having the Highest volume Share in Current Year
Insulin is a crucial treatment solution for diabetes patients in the latter stages of the illness, and insulin pens are designed to make it simple and convenient for patients to inject insulin at home. Apart from lifestyle changes and oral diabetes medicines, glycemic control is the cornerstone of diabetes therapy. Insulin therapy, which is required for the treatment of both type 1 diabetes mellitus and type 2 diabetes mellitus, is critical in maintaining blood glucose levels and reducing diabetic complications. The insulin pen looks more user-friendly, portable, accurate, and safe than the traditional vial and syringe. Effective insulin administration using an insulin pen improves patient adherence, facilitates self-management of persons with diabetes, reduces the risk of hypoglycemia, and improves the quality of life. In Vietnam, diabetes is recognized as a serious public health burden, affecting around 5.76 million people. The aging population in Vietnam, as well as the prevalence of harmful effects of diabetes on individuals and society, creates an urgent need for appropriate intervention and treatment techniques.
Because insulin must be administered, syringes or other delivery devices are required for insulin therapy, but they are frequently unavailable and expensive. Diagnostic tests at healthcare institutions and glucose meters for self-monitoring of blood glucose were reported to be scarce and expensive in Vietnam country.
Rising diabetes prevalence
Obesity, dietary changes, and other cultural alterations are all connected to diabetes, which is becoming more prevalent in Vietnam.
Problems become increasingly widespread as people age. The aging population that Vietnam will soon face, as well as the longer lifespans of diabetics due to more efficient treatment options, are expected to result in increased expenditures. According to a study on the financial toll of diabetes in the United States, costs have risen despite attempts to reduce needless hospitalization. This demonstrates that, to modify the trend or even halt the rise in diabetes costs, current therapies in Vietnam must be expanded. However, given that Vietnam is also dealing with other noncommunicable diseases that continue to compete for resources in the already stretched public healthcare budget, significantly increasing budget allocation and resources to address the issue is impossible. Regular monitoring services and more strong glucose-lowering drugs should be adopted at the primary care level to keep diabetes under control. Insulin therapy is only initiated in Vietnam if the HbA1c level is less than 9%, and it is only provided at district-level or higher health institutes. Diabetes and its repercussions are financially burdensome on the healthcare system and society, with a significant part of spending going toward resolving complications. Actions aiming at improving patient glycemic control should be made to better manage diabetes and minimize complications, potentially reducing the financial and health burden on the healthcare system and society. Despite a large increase over the past 10 years, particularly the last five years, Vietnam still has a low incidence of obesity. These gains corresponded with a rise in malnutrition, indicating the coexistence of over- and undernutrition issues in Vietnam and other developing nations. Furthermore, the majority of people with T2D have a BMI of 23 kg/m2, but their adiposity has increased, as seen by an increase in WHR and connected to chronic overconsumption of high glycemic index foods.
Vietnam Insulin Drug And Delivery Device Industry Overview
The market is highly consolidated, with three major manufacturers holding a global market presence and the remaining manufacturers confined to other local or region-specific manufacturers. Mergers and acquisitions that happened between the players in the recent past have helped the companies strengthen their market presence. Eli Lilly and Boehringer Ingelheim have the alliance to develop and commercialize Basaglar (Insulin Glargine). Additionally, the players in the recent past helped the companies strengthen their market presence; for example, Novo Nordisk collaborated with Ypsomed to provide better insulin therapy solutions.
Vietnam Insulin Drug And Delivery Device Market Leaders
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Novo Nordisk
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Sanofi
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Eli Lilly
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Medtronics
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Roche
*Disclaimer: Major Players sorted in no particular order
Vietnam Insulin Drug And Delivery Device Market News
- March 2023: A memorandum of understanding (MoU) was signed between the Administration of Medical Service under the Ministry of Health, the Vietnam Association of Diabetes and Endocrinology, and the French pharmaceutical company Sanofi Vietnam to cooperate on the implementation of the online training program on diabetes treatment and management, iSTEP-D Plus Online.
- June 2022: France-based Sanofi-Aventis Vietnam and local pharmacy chain FPT Long Chau signed a Memorandum of Understanding on cooperation to implement their 'Insulin Pen Sustainability Pilot Project' on plastic waste reduction.
Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Insulin Drugs
5.1.1 Basal or Long Acting Insulins
5.1.1.1 Lantus (Insulin Glargine)
5.1.1.2 Levemir (Insulin Detemir)
5.1.1.3 Toujeo (Insulin Glargine)
5.1.1.4 Tresiba (Insulin Degludec)
5.1.1.5 Basaglar (Insulin Glargine)
5.1.2 Bolus or Fast Acting Insulins
5.1.2.1 NovoRapid/Novolog (Insulin Aspart)
5.1.2.2 Humalog (Insulin Lispro)
5.1.2.3 Apidra (Insulin Glulisine)
5.1.3 Traditional Human Insulins
5.1.3.1 Novolin/Actrapid/Insulatard
5.1.3.2 Humulin
5.1.3.3 Insuman
5.1.4 Biosimilar Insulins
5.1.4.1 Insulin Glargine Biosimilars
5.1.4.2 Human Insulin Biosimilars
5.1.5 Insulin combinations
5.1.5.1 NovoMix (Biphasic Insulin Aspart)
5.1.5.2 Ryzodeg (Insulin Degludec and Insulin Aspart)
5.1.5.3 Xultophy (Insulin Degludec and Liraglutide)
5.2 Insulin Device
5.2.1 Insulin Pumps
5.2.1.1 Insulin Pump Devices
5.2.1.2 Insulin Pump Reservoirs
5.2.1.3 Insulin Infusion sets
5.2.2 Insulin Pens
5.2.2.1 Cartridges in reusable pens
5.2.2.2 Disposable insulin pens
5.2.3 Insulin Syringes
5.2.4 Insulin Jet Injectors
6. MARKET INDICATORS
6.1 Type-1 Diabetic Population
6.2 Type-2 Diabetic Population
7. COMPETITIVE LANDSCAPE
7.1 COMPANY PROFILES
7.1.1 Takeda
7.1.2 Novo Nordisk
7.1.3 Pfizer
7.1.4 Eli Lilly
7.1.5 Janssen Pharmaceuticals
7.1.6 Astellas
7.1.7 Boehringer Ingelheim
7.1.8 Merck And Co.
7.1.9 AstraZeneca
7.1.10 Bristol Myers Squibb
7.1.11 Novartis
7.1.12 Sanofi
- *List Not Exhaustive
7.2 Company Share Analysis
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
Vietnam Insulin Drug And Delivery Device Industry Segmentation
Human insulin is a medication of the hormone class. Human insulin is used instead of the insulin that the body normally generates. It aids in transporting blood sugar to various physiological tissues, where it is utilized as an energy source. It also inhibits the liver from producing extra sugar. Vietnam insulin drug and delivery device market is segmented into type (basal or long-acting insulins, bolus or fast-acting insulins, traditional human insulins, combination insulins, and biosimilar insulins), device type (insulin pens, insulin pumps, insulin syringes, and jet injectors). The report offers the value (in USD million) and volume (in Units million) for the above segments.
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Frequently Asked Questions
What is the current Vietnam Insulin Drug And Delivery Device Market size?
The Vietnam Insulin Drug And Delivery Device Market is projected to register a CAGR of greater than 2% during the forecast period (2024-2029)
Who are the key players in Vietnam Insulin Drug And Delivery Device Market?
Novo Nordisk, Sanofi, Eli Lilly, Medtronics and Roche are the major companies operating in the Vietnam Insulin Drug And Delivery Device Market.
What years does this Vietnam Insulin Drug And Delivery Device Market cover?
The report covers the Vietnam Insulin Drug And Delivery Device Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Vietnam Insulin Drug And Delivery Device Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Vietnam Insulin Drug And Delivery Device Industry Report
Statistics for the 2024 Vietnam Insulin Drug And Delivery Device market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Vietnam Insulin Drug And Delivery Device analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
