Expanding access to medicine for all Vietnamese people

In the context that the National Assembly is considering two important Resolutions in the field of health in the work of protecting and taking care of people's health, the People's Representative Newspaper has just organized a discussion on "The future value of the high-quality generic drug market" with the participation of National Assembly deputies, representatives of management agencies, scientists, businesses and international organizations. The event is expected to open a new development step for the pharmaceutical industry.

At the seminar, Mr. Luke Treloar, Managing Partner, Director of Healthcare and Life Sciences Strategy Consulting, KPMG Vietnam, announced the Report "Future Value of Generic Drug Market in Vietnam". We had a conversation around this content.

- Ảnh 1. — Seminar "Future value of high-quality generic drug market" organized by People's Representative Newspaper.

PV: Sir, what made KPMG choose to conduct research on "Future value of generic drug market in Vietnam"?

Mr. Luke Treloar: This study addresses the current challenges and opportunities in Vietnam’s healthcare sector at a time of significant economic transition. As the country develops, ensuring access to high-quality, affordable medicines is an urgent priority. The generic pharmaceutical industry is essential in this context, as it provides cost-effective alternatives while maintaining the highest standards of safety and efficacy.

By exploring and recommending key reforms, we aim to highlight the importance of strengthening the industry to increase access to healthcare for all Vietnamese citizens.

PV: According to research results, what specific benefits do high-quality generic drugs bring to patients, the healthcare system and the Vietnamese economy?

Mr. Luke Treloar: A high-quality generics industry delivers value in three key areas: Promoting technology transfer, enabling innovation, enhancing competitiveness and supporting environmental sustainability; Strengthening domestic generics production, supporting sustainable healthcare, promoting employment and stimulating economic growth; Providing effective, affordable treatments, improving access to essential therapies, especially in resource-limited settings.

These benefits together position Vietnam as an emerging life sciences hub in Southeast Asia.

- Ảnh 2. — Mr. Luke Treloar, Managing Partner, Head of Healthcare and Life Sciences Strategy Consulting, KPMG Vietnam.

PV: Can you outline an overview of the current generic drug market in Vietnam, especially the high-quality generic drug segment?

Mr. Luke Treloar: During the period 2019–2024, the Vietnamese generic drug market experienced strong growth, with per capita sales increasing at a CAGR of 9.1%, the third highest in the region after China (12.8%) and Singapore (9.3%).

Key factors driving this growth include rising healthcare costs and an aging population. Vietnam’s pharmaceutical industry is facing a growing supply-demand imbalance, with $3.8 billion worth of drugs to be imported by 2024, while domestically produced generic drugs only meet about 40% of demand.

PV: In your opinion, what do we need to do to further develop this market?

Luke Treloar: One of the main challenges is that the approval process for new pharmaceutical products can be lengthy, with strict documentation and compliance requirements. In addition, there is a lack of financial incentives such as subsidies, tax breaks or capital support.

Therefore, to make the “future value” of high-quality generic drugs a reality, Vietnam’s top priority must be to improve the efficiency of administrative procedures and provide incentives to promote investment in the industry. This can be achieved through digital transformation of management processes, such as implementing an e-filing platform to streamline the registration process.

Thank you very much!

Made by: Moc Tra

Source: https://suckhoedoisong.vn/mo-rong-kha-nang-tiep-can-thuoc-cho-moi-nguoi-dan-viet-nam-169251107152807612.htm