At the workshop “Innovation - The medicine for the development of the pharmaceutical industry” organized by Dau Tu Newspaper on September 25, Deputy Minister of Health Do Xuan Tuyen said that 2024 is a key year with the review and amendment of important laws and regulations shaping the operations of the pharmaceutical industry in the next decade, contributing to promoting sustainable investment in the healthcare system, and creating a favorable ecosystem to promote innovation.
The national strategy for the development of Vietnam's pharmaceutical industry until 2030 and vision to 2045 sets out the following goals: Developing Vietnam's pharmaceutical industry on par with advanced countries in the region, improving research capacity and applying available technology to produce generic drugs, drugs with new and modern dosage forms, aiming to become a center for manufacturing/technology transfer of generic drugs in the ASEAN region, striving to develop the domestic pharmaceutical industry to level 4 according to the classification of the World Health Organization.
The Vietnamese pharmaceutical industry has made certain progress and achieved remarkable results. The Vietnamese pharmaceutical market is on the rise with a total value from 3.4 billion USD in 2015 to 7.2 billion USD in 2023, with domestic production accounting for about 50% of the total value of treatment drugs.
Average drug spending per capita in 2021 will reach 73 USD, an increase of 66.3 USD compared to 2002, an increase of 50.75 USD compared to 2010, 70 USD in 2022 and 72 USD in 2023.
With rapid growth in domestic pharmaceutical production, it shows strong growth potential in pharmaceutical exports and becoming a regional pharmaceutical hub.
The next goal is to make Vietnamese pharmaceuticals have a market value in the top 3 in ASEAN, contributing to ensuring adequate and timely supply of quality, safe, effective and reasonably priced drugs; becoming a high-value pharmaceutical center in the region by 2030 and by 2045, the total value of the pharmaceutical industry contributing to GDP is over 20 billion USD.
Mr. Le Minh Sang, senior health expert of the World Bank in Vietnam, said that in order for innovation to truly be the medicine for sustainable development of the medical and pharmaceutical industry, it still requires the comprehensive resolution of many specific tasks, from continuing to innovate management mechanisms, promoting research, application of science and transfer of advanced technology in disease prevention, detection, diagnosis and treatment, production of vaccines and medical biological products, high-quality medical equipment, to perfecting institutions, mechanisms and policies on health based on close adherence to reality, quickly detecting arising problems and promptly adjusting relevant legal regulations.
In addition to the above solutions, to facilitate the development of the pharmaceutical industry, delegates said that Vietnam needs to create favorable conditions for domestic and foreign investors to participate in this field.
