Vietnam 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, Vietnam's pharmaceutical market was worth nearly 3 billion USD, estimated to grow at a rate of more than 20 percent by 2017.
Drug consumption per capita in Vietnam is also climbing. A Vietnamese citizen spent 104 USD on medicine products in 2010, compared to 148 USD in China and 51 USD in India. It is expected to double by 2015.
Meanwhile, local pharmaceutical production only satisfied nearly half of Vietnam's drug needs in 2012. Those products were almost all low-cost generics.-VNA
In 2012, Vietnam's pharmaceutical market was worth nearly 3 billion USD, estimated to grow at a rate of more than 20 percent by 2017.
Drug consumption per capita in Vietnam is also climbing. A Vietnamese citizen spent 104 USD on medicine products in 2010, compared to 148 USD in China and 51 USD in India. It is expected to double by 2015.
Meanwhile, local pharmaceutical production only satisfied nearly half of Vietnam's drug needs in 2012. Those products were almost all low-cost generics.-VNA
