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QuintilesIMS Delivers Integrated Information and Technology Solutions to Drive Healthcare Forward

Around the world healthcare stakeholders are working to improve real-world patient outcomes through treatment innovations, care provision and access to healthcare. For the information, technology and service solutions they need to drive new insights and approaches, they count on QuintilesIMS. With a global team of 50,000, we harness insights, commercial and scientific depth, and executional expertise to empower clients to achieve some of their most important goals: Improving clinical, scientific and commercial results. Realizing the full potential of innovations. And, ultimately, driving healthcare forward.

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Driving Performance in Vietnam

Established in Ho Chi Minh City in 2001, QuintilesIMS Vietnam has one of the most comprehensive offering portfolios in the region, with its solutions on data and business solution areas for the life sciences industry including Vietnam Total Market Audit, Drug Distribution Data, Primary Market Research, Commercial Effectiveness Services and Consulting Services.

Since 2010, QuintilesIMS Vietnam has expanded the coverage of Vietnam Total Market Audit nationwide through new set of hospital panels in provinces outside the five key cities. This has been a significant milestone as it has elucidated clients’ understanding of the potential of this fast-growing geography for the first time. The new Vietnam Total Market Audit is also becoming a valid tool for generic and local companies to develop business strategy, track performance and assess the competitive landscape, especially as provincial markets are their major focus area.

QuintilesIMS Vietnam also offers consumer health reports that cover all consumer health categories in the retail pharmacy and hospital channels in Vietnam. The report provides insights into the key growing sub-markets in consumer health such as skin care, hair care, sun damage protection care, dental care, nutrition, and food supplements, among others.

In line with data offering expansion, QuintilesIMS's business solutions help our clients to plan and execute business priorities effectively from strategic down to tactical levels. The business solution offerings, including Primary Market Research, Commercial Effectiveness Services & Consulting Services, support pharma and healthcare companies in several important business initiatives including new product launch, sales force effectiveness, competitive landscape assessment, new commercial model, growth strategy, local partnership selection, branded generic business, and in-license or localized manufacturing capability, among others.

 

Market Overview

According to QuintilesIMS Market Prognosis 2016 (September 2016 update), the Vietnamese pharmaceutical market is forecast to grow at a compound annual growth rate (CAGR) of 10.0% (±2.5%) between 2015 and 2020, reaching VND124, 432 billion by 2020.

Growth is driven by positive demographic and economic indicators as well as the government objective to have 90% of the population covered by social health insurance schemes by 2020. The investment in the healthcare infrastructure – especially in the provinces – will continue during the second half of this decade.

Total healthcare expenditure has been growing rapidly. At around 6%, spending on healthcare as a proportion of GDP is higher than levels in many neighboring countries. The government’s share of total healthcare spending remains low, however, at just 42%, while private spending is dominated by out-of-pocket payments, which account for around 49% of total healthcare spending. Raising public health expenditure will remain a priority.

The public hospital sector will remain the dominant provider of healthcare services. Within the public hospital network, investment in lower-level and provincial facilities will aim to alleviate the burden on high-level hospitals in the country’s major cities. A network of satellite hospitals is being developed, and more specialty services are being established at lower level facilities.

However, countering these growth drivers are changes in the regulation of tender-based public hospital procurement, which have had a major impact on hospital sector sales since the implementation of the Ministry of Health (MOH) Circular 01 in 2012, driving down generic prices and imposing additional hurdles for original brands. Further changes to the tender regulations became effective 1 July 2016, including a move towards greater centralization of tenders at national and provincial levels, as well as national level price negotiations for some products.

The implementation of a new law on pharmacies and the launch of online registration procedures should help drive improvement in levels of regulatory efficiency during the forecast period. The new law, which is to become effective on 1 January 2017, waives local trial requirements for new drugs marketed in at least one other country and with sufficient clinical data on safety and efficacy.

In today's highly competitive and complex environment, contact your QuintilesIMS Vietnam representative to gain greater clarity and stay one step ahead of the competition with valuable insights gained from QuintilesIMS solutions.