HANOI, Oct. 11 (Xinhua) -- Vietnam's pharmaceutical industry is expected to contribute over 20 billion U.S. dollars to its gross domestic product by 2045, according to the newly-approved national strategy for developing pharmaceutical industry for the period to 2030 and vision to 2045, Vietnam News reported on Wednesday.
The strategy sets a vision that the Southeast Asian country's pharmaceutical sector will be on par with that of advanced countries in the region, and ensure public access to drugs at affordable prices.
Vietnam also targets the mass production of drugs and products from domestic medicinal resources with high quality and values, and boost the production of pharmaceutical raw materials.
The strategy also sets a goal that 100 percent of drugs will be provided promptly for disease prevention and treatment needs by 2030.
Vietnam's pharmaceutical market was estimated at 6.9 billion dollars in 2021, according to the health ministry.
The market is projected to reach 16.1 billion dollars in 2026 with a compound growth rate of up to 11 percent, according to BMI Research. ■
