Vietnam Pharmaceuticals Market Size, Share, Industry Trends, Growth and Report 2025-2033

Vietnam Pharmaceuticals Market Overview

Base Year: 2024

Historical Years: 2019-2024

Forecast Years: 2025-2033

Market Size in 2024: USD 7,437.6 Million

Market Forecast in 2033: USD 14,069.7 Million

Market Growth Rate (2025-33):  7.34%

The Vietnam pharmaceuticals market size reached USD 7,437.6 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 14,069.7 Million by 2033, exhibiting a growth rate (CAGR) of 7.34% during 2025-2033. Key factors driving the market include the growing collaboration between pharmaceutical companies to manufacture enhanced pharmaceutical products, the increasing geriatric population, the rising prevalence of various infectious diseases caused by novel viruses, and the high burden of chronic diseases, with cardiovascular diseases (CVDs) causing over 100,000 deaths and affecting approximately 1.6 million people in Vietnam. These factors collectively contribute to the expansion of the pharmaceutical market in Vietnam.

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Vietnam Pharmaceuticals Market Trends and Drivers:

A major trend that's shaking up the Vietnamese pharmaceutical scene is the government's strong push for self-sufficiency in drug production, moving away from its long-standing reliance on imported medicines. The revised Law on Pharmacy and initiatives like the Master Plan highlight this national goal. As a result, there's a significant boost in investment for local manufacturing infrastructure. Companies like VATACO and Domesco, along with multinational firms, are ramping up their capital expenditures. These businesses are currently setting up cutting-edge production facilities in Vietnam's growing economic zones to meet strict Good Manufacturing Practice (GMP) standards, including those from WHO and the EU. This transition is about more than just increasing volume; it’s focused on high-value areas like biosimilars, orphan drugs, and complex generics that were previously only imported. As a result, the share of domestically produced medicines that meet national demand has risen significantly, with recent industry reports indicating that local production now accounts for over 55% of the market by volume. This number is expected to keep climbing as these new facilities become fully operational and supply chain networks strengthen.

The fundamental demand driver that is within the Vietnamese market is undergoing a rapid and irreversible transformation because it shifts from a focus that is on infectious diseases to a overwhelming burden that is of non-communicable diseases (NCDs), and that shift is fundamentally restructuring therapeutic class priorities along with long-term consumption patterns. Aging of demographics, rapid urbanization, and evolving dietary habits have precipitated a sharp rise in the prevalence of conditions. Hypertension, cardiovascular diseases, also diabetes, and even various cancers happen to be examples of those conditions. Since NCDs cause roughly 81% of Vietnam's yearly deaths, current studies show a constant rise in needs for long-term pharmaceutical therapies. This has ignited explosive growth in segments as metformin and insulin analogues treat diabetes as statins likewise novel oral anticoagulants increase cardiovascular health. The oncology sector is rapidly expanding also requires targeted therapies together with immunotherapies. This shift presents a dual challenge and opportunity: it strains public healthcare funding since chronic care costs are high, so health insurance must be reformed, and generic substitution policies must be strong, while innovators and manufacturers of these high-value chronic disease medications find a lucrative stable market, and this segment remains the primary growth engine for the foreseeable future.

This disruptive, consumer-led revolution of Vietnam pharmaceuticals is fueled by digital adoption. Demand for convenience, transparency, as well as accessibility within healthcare services grows in that location. This dynamic is most visibly manifested in the explosive growth of certified e-pharmacies as well as online medicine retail platforms, and these platforms complement also challenge the dominance of customary brick-and-mortar drugstores in some segments. Beyond just simple e-commerce, digital health technologies integrate together to create a more linked ecosystem; telemedicine increasingly offers consultations that often culminate in online pharmacies fulfilling electronic prescriptions. Furthermore, major pharmacy chains do leverage advanced data analytics as well as customer relationship management (CRM) systems in order to engage patients personally in order to manage inventory with unprecedented efficiency. This digital permeation informs patients well, reaches markets of underserved rural areas farther, and traces the supply chain better. Because they invest substantially in this digital infrastructure that smoothly blends online convenience with offline trust, leading retail pharmacies and tech startups secure meaningful funding to develop omnichannel experiences for digitalization critically determines future competitive advantage and market share consolidation.

Vietnam Pharmaceuticals Market Industry Segmentation:

Drug Type Insights:

• Generic Drugs

• Branded Drugs

Product Type Insights:

• Prescription Drugs

• Over-The-Counter Drugs

Application Insights:

• Cardiovascular

• Metabolic Disorder

• Oncology

• Anti-infective

• Musculoskeletal

• Others

Distribution Channel Insights:

• Retail Pharmacy

• Hospital Pharmacy

• E-Pharmacy

Regional Insights:

• Northern Vietnam

• Central Vietnam

• Southern Vietnam

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

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Key highlights of the Report:

• Market Performance (2019-2024)

• Market Outlook (2025-2033)

• COVID-19 Impact on the Market

• Porter’s Five Forces Analysis

• Strategic Recommendations

• Historical, Current and Future Market Trends

• Market Drivers and Success Factors

• SWOT Analysis

• Structure of the Market

• Value Chain Analysis

• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

About Us:

IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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