Vietnam Insulin Drug And Delivery Device Market Size (2024 - 2029)

The Vietnam Insulin Drug and Delivery Device Market is anticipated to experience growth over the forecast period, driven by various factors including the impact of the COVID-19 pandemic on health conditions such as diabetes. The pandemic has highlighted the vulnerabilities of individuals with diabetes, who are at a higher risk due to complications associated with the disease. Challenges such as cultural barriers, limited understanding of diabetes among certain demographics, and preferences for traditional remedies complicate the landscape for diabetes care and management. These factors collectively influence the market size and dynamics of insulin drugs and delivery devices in Vietnam.

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Market Size of Vietnam Insulin Drug And Delivery Device Industry

Vietnam Insulin Drug And Delivery Device Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 2.00 %

Major Players

Vietnam Insulin Drug And Delivery Device Market Major Players

*Disclaimer: Major Players sorted in no particular order

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 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.

Insulin Drugs
Basal or Long Acting Insulins
Lantus (Insulin Glargine)
Levemir (Insulin Detemir)
Toujeo (Insulin Glargine)
Tresiba (Insulin Degludec)
Basaglar (Insulin Glargine)
Bolus or Fast Acting Insulins
NovoRapid/Novolog (Insulin Aspart)
Humalog (Insulin Lispro)
Apidra (Insulin Glulisine)
Traditional Human Insulins
Novolin/Actrapid/Insulatard
Humulin
Insuman
Biosimilar Insulins
Insulin Glargine Biosimilars
Human Insulin Biosimilars
Insulin combinations
NovoMix (Biphasic Insulin Aspart)
Ryzodeg (Insulin Degludec and Insulin Aspart)
Xultophy (Insulin Degludec and Liraglutide)
Insulin Device
Insulin Pumps
Insulin Pump Devices
Insulin Pump Reservoirs
Insulin Infusion sets
Insulin Pens
Cartridges in reusable pens
Disposable insulin pens
Insulin Syringes
Insulin Jet Injectors
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Vietnam Insulin Drug And Delivery Device Market Size Summary

The Vietnam insulin drug and delivery device market is poised for steady growth, driven by the increasing prevalence of diabetes and the need for effective management solutions. Insulin therapy remains a critical component for patients with advanced diabetes, particularly in the context of an aging population and the rising incidence of diabetes-related complications. The market is characterized by a shift towards more user-friendly and portable insulin delivery systems, such as insulin pens, which enhance patient adherence and self-management. Despite the challenges posed by cultural preferences and limited access to healthcare resources, the demand for insulin and delivery devices is expected to rise, supported by ongoing efforts to improve diabetes care and management in the country.

The market landscape is highly consolidated, with major global players like Novo Nordisk, Sanofi, Eli Lilly, and others dominating the scene. These companies have strengthened their market presence through strategic collaborations and partnerships, such as those between Eli Lilly and Boehringer Ingelheim, and Novo Nordisk and Ypsomed. Initiatives like the online training program on diabetes treatment and management, and projects aimed at reducing plastic waste from insulin pens, highlight the industry's commitment to addressing both health and environmental concerns. However, the market also faces challenges related to the availability and affordability of insulin delivery devices, which are crucial for effective diabetes management in Vietnam's resource-constrained healthcare system.

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Vietnam Insulin Drug And Delivery Device Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Insulin Drugs

      1. 2.1.1 Basal or Long Acting Insulins

        1. 2.1.1.1 Lantus (Insulin Glargine)

        2. 2.1.1.2 Levemir (Insulin Detemir)

        3. 2.1.1.3 Toujeo (Insulin Glargine)

        4. 2.1.1.4 Tresiba (Insulin Degludec)

        5. 2.1.1.5 Basaglar (Insulin Glargine)

      2. 2.1.2 Bolus or Fast Acting Insulins

        1. 2.1.2.1 NovoRapid/Novolog (Insulin Aspart)

        2. 2.1.2.2 Humalog (Insulin Lispro)

        3. 2.1.2.3 Apidra (Insulin Glulisine)

      3. 2.1.3 Traditional Human Insulins

        1. 2.1.3.1 Novolin/Actrapid/Insulatard

        2. 2.1.3.2 Humulin

        3. 2.1.3.3 Insuman

      4. 2.1.4 Biosimilar Insulins

        1. 2.1.4.1 Insulin Glargine Biosimilars

        2. 2.1.4.2 Human Insulin Biosimilars

      5. 2.1.5 Insulin combinations

        1. 2.1.5.1 NovoMix (Biphasic Insulin Aspart)

        2. 2.1.5.2 Ryzodeg (Insulin Degludec and Insulin Aspart)

        3. 2.1.5.3 Xultophy (Insulin Degludec and Liraglutide)

    2. 2.2 Insulin Device

      1. 2.2.1 Insulin Pumps

        1. 2.2.1.1 Insulin Pump Devices

        2. 2.2.1.2 Insulin Pump Reservoirs

        3. 2.2.1.3 Insulin Infusion sets

      2. 2.2.2 Insulin Pens

        1. 2.2.2.1 Cartridges in reusable pens

        2. 2.2.2.2 Disposable insulin pens

      3. 2.2.3 Insulin Syringes

      4. 2.2.4 Insulin Jet Injectors

Vietnam Insulin Drug And Delivery Device Market Size FAQs

The Vietnam Insulin Drug And Delivery Device Market is projected to register a CAGR of greater than 2% during the forecast period (2024-2029)

Novo Nordisk, Sanofi, Eli Lilly, Medtronics and Roche are the major companies operating in the Vietnam Insulin Drug And Delivery Device Market.

Vietnam Insulin Drug And Delivery Device Market Report Snapshots

Vietnam Insulin Drug And Delivery Device Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)