Vietnam's oncology clinical trials market is projected to grow from $63.3 Mn in 2022 to $98.8 Mn by 2030, registering a CAGR of 5.73% during the forecast period of 2022-30. The market will be driven by the big and diversified patient population available for clinical trials and a well-established clinical trial regulatory structure. The market is segmented by phase, by study design & by indication. Some of the major players include AstraZeneca PLC, Novartis AG & Hau Giang Pharmaceutical Joint Stock Company.
Vietnam's oncology clinical trials market is projected to grow from $63.3 Mn in 2022 to $98.8 Mn by 2030, registering a CAGR of 5.73% during the forecast period of 2022-30. With a population of about 98 Mn people and a life expectancy of over 76 years, Vietnam has a rather significant market size. Roughly 30% of the Vietnamese population, or 30 Mn people, can afford rather costly Western treatment. Vietnam's pharmaceutical business is one of the fastest growing in the area, owing to increased economic development, rising per capita income, and an aging population. Each year, there are 183,000 instances of cancer and 123 thousand fatalities in Vietnam. In Vietnam, the five major cancer types were liver (14.5%), lung (14.4%), breast (11.8%), gastric (9.8%), and colorectal (9%). According to GLOBOCAN, there are now 354,000 cancer patients in the nation.
In addition to hospitals and research institutes such as National Cancer Hospital, Hanoi Medical University, Ho Chi Minh City Oncology Hospital & Bach Mai Hospital, there are several private hospitals and cancer centers in Vietnam that are also engaged in oncology clinical trials. Moreover, In September 2022, K Hospital and Novartis Vietnam signed a Memorandum of Understanding for a collaboration to improve cancer treatment in Vietnam. In march 2023, Gene Solutions, which was founded in Vietnam, designed a multimodal liquid biopsy-based test called Screening for the Presence of Tumour by Methylation and Size (SPOT-MAS) to identify the five most frequent cancer types (liver, breast, colorectal, gastric, and lung cancer). With a big and diversified patient population, a supportive regulatory environment, and an increasing number of qualified clinical researchers and research institutes, Vietnam is an attractive location for oncology clinical trials. Nonetheless, the lack of sophisticated technology and infrastructure remains a barrier that must be overcome in order to attract more sponsors to perform oncology clinical trials in Vietnam.
Market Growth Drivers
Many variables contribute to Vietnam's attractiveness as a site for oncology clinical trials. First and foremost, Vietnam has a big and diversified patient population, which is vital for clinical trials, particularly in cancer, where patient selection is critical. Second, Vietnam has a well-established clinical trial regulatory structure, with the Ministry of Health (MoH) in charge of regulating and authorizing clinical studies in the nation.
The government is also aggressively pushing clinical research, particularly oncology trials, and has developed many cancer treatment and research centers of excellence. Moreover, Vietnam has an increasing number of skilled oncologists, clinical researchers, and research institutes that are well-equipped to conduct clinical trials.
Several growth constraints must be addressed in order to accelerate the expansion of oncology clinical trials in Vietnam. Some of the significant restraints that can affect the expansion and growth of clinical trials in oncology include the limited availability of modern technology and facilities, a scarcity of experienced clinical trial investigators, regulatory challenges, limited patient access and awareness, and funding constraints.
1. Executive Summary
1.1 Disease Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Clinical Trials Regulation in Country
1.6 Recent Developments in the Country
2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)
3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints
4. Competitive Landscape
4.1 Major Market Share
4.2 Key Company Profile (Check all Companies in the Summary Section)
126.96.36.199 Product Applications and Services
188.8.131.52 Recent Developments
184.108.40.206 Partnerships Ecosystem
220.127.116.11 Financials (Based on Availability)
5. Reimbursement Scenario
5.1 Reimbursement Regulation
6. Methodology and Scope
By Phase (Revenue, USD Billion):
By Study Design Outlook (Revenue, USD Billion):
By Indication Outlook (Revenue, USD Billion):
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