Vietnam Pharmacy Retail Market By Market Structure, By Product Type (Over-the-Counter Products, Prescribed Drugs, Non-Pharmaceutical Products, Medical Equipment), By Therapeutic Area, By Drug Type, By Pharmacy Location, By Region, Competition Forecast & Opportunities, 2027

The Vietnam Pharmacy Retail market stood at USD 7.45 billion in 2021 and is expected to register a CAGR of 6% during the forecast period. The major factors include increasing aging Vietnamese population, entrance of retail companies in pharmacy space, and growing demand for modern pharmacy retail chains. Additionally, growing prevalence of different diseases has increased the demand for medications, thereby increasing the demand for places from where these medications can be procured. This in turn is expected to support the growth of pharmacy retail market in Vietnam. Various initiatives have been taken by Vietnam’s market players to raise awareness about diseases and treatments, as well as information about the availability of more advanced technologies and procedures at healthcare facilities.

Increasing aging population

According to the Ministry of Health, Vietnam has slowly experienced the initial stage of aging process. The number of people above the age of 60 reached 10.2% in 2014 in comparison to 7.1% in 1989. According to the United Nations, by 2040, the number of people older than 65 is projected to almost triple in Vietnam. These factors bolster the growth of pharmacy retail market.

Entrance of retail companies in pharmacy space

The pharmacy retail market is growing due to the participation of retail giants, high economic growth, rising per capita income, and higher urban population, etc. For instance, in 2017 FPT Retail acquired Long Chau pharmaceutical chain and the company started operating as FPT Long Chau Pharma Joint Stock Company with a lot of new stores in Vietnam. Similarly, the Gioi Di Dong also seized the benefit of their experience in retail chain operation and expanded their business into the pharmaceutical segment by acquiring the Phuc An Khang drugstore chain. This, in turn fueled the Vietnam Pharmacy Retail Market.

Growing demand for modern pharmacy retail chains

The growing demand for modern retail pharmacies is increasing due to their easy accessibility and feasible approach. According to the American Chamber of Commerce white book of healthcare committee 2020 in Vietnam, the pharmaceutical retail chain business has undergone remarkable development in terms of accessibility and quality improvement over the past decade. The market is shifting from the prototype/model of conventional independent pharmacies to modern pharmacy chains which benefit consumers, in terms of convenience, product and service diversity, and quality consistency.

Market Segmentation

The Vietnam Pharmacy Retail market can be segmented into market structure, product type, therapeutic area, drug type, pharmacy location, region and competitve landscape. By market structure, the market can be segmented into unorganized and organized. Based on product type, the market can be split into over-the-counter products, prescribed drugs, non-pharmaceutical products, and medical equipment. In terms of therapeutic area, the market can be divided into cardiovascular, pain relief/analgesics, vitamins/minerals/nutrients, anti-infective, anti-diabetic, and others (neurodegenerative diseases., etc). By drug type, the market can be fragmented into generic and patented. Based on pharmacy location, the market can be differentiated into street/mall based and hospital-based pharmacy.

Market Players

Pharmacity Pharmacy Joint Stock Company, FPT Long Chau Pharma Joint Stock Company, Eco Pharmaceutical Joint Stock Company, Me Di Ca Company Limited, An Khang Pharmacy, Phano Pharmacy Joint Stock Company, Ku.Dos Pharmaceutical Joint Stock Company, VinFa Joint Stock Company, Guardian Vietnam, Matsumoto Kiyoshi Vietnam Joint Stock Company etc., are some of the leading companies operating in the market.

Report Scope:

In this report, Vietnam Pharmacy Retail Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Vietnam Pharmacy Retail Market, By Market Structure:

• Unorganized
• Organized

Vietnam Pharmacy Retail Market, By Product Type:

• Over-the-Counter Products
• Prescribed Drugs
• Non-Pharmaceutical Products
• Medical Equipment

Vietnam Pharmacy Retail Market, By Therapeutic Area:

• Cardiovascular
• Pain Relief/Analgesics
• Vitamins/Minerals/Nutrients
• Anti-Infective
• Anti-Diabetic
• Others

Vietnam Pharmacy Retail Market, By Drug Type:

• Generic
• Patented

Vietnam Pharmacy Retail Market, By Pharmacy Location:

• Street/Mall Based
• Hospital Based
• Vietnam Pharmacy Retail, By Region:
• Southern
• Northern
• Central

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Vietnam Pharmacy Retail market

Available Customizations:

With the given market data, the publisher offers customizations according to a company’s specific needs.