Vietnam Pharmaceuticals Market Report by Drug Type (Generic Drugs, Branded Drugs), Product Type (Prescription Drugs, Over-The-Counter Drugs), Application (Cardiovascular, Metabolic Disorder, Oncology, Anti-infective, Musculoskeletal, and Others), Distribution Channel (Retail Pharmacy, Hospital Pharmacy, E-Pharmacy), and Region 2025-2033

Vietnam Pharmaceuticals Market Summary:

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.

Pharmaceuticals, often referred to as drugs or medications, are substances or compounds developed for the diagnosis, treatment, prevention, or relief of medical conditions in humans and animals. These substances can be synthesized chemically or derived from natural sources, such as botanical extracts and microorganisms. They include prescription drugs that are typically used for the treatment of serious medical conditions and require professional supervision. They also consist of over the counter (OTC) drugs, which are available without a prescription, suitable for self-medication and used to treat common, non-severe ailments like headaches, colds, and allergies. They encompass biopharmaceuticals, which are drugs produced using biotechnology techniques and include monoclonal antibodies, vaccines, and gene therapies, offering innovative treatment options. They are manufactured via laboratory testing, clinical trials, and regulatory approvals, which take several years and require significant financial resources. Pharmaceuticals are significantly increasing life expectancy by preventing, treating, and curing a wide range of chronic ailments. They play a critical role in public health and disease control. They have also played a pivotal role in eradicating or controlling diseases, such as smallpox and polio through vaccination programs.

Vietnam Pharmaceuticals Market Trends:

Strong Growth of the Generic Segment

The Vietnam pharmaceutical market is witnessing significant growth in the generic drug segment, driven by the increasing demand for affordable medicines. Generic drugs offer a cost-effective alternative to branded medications, making them accessible to a larger population. The government’s support for generic manufacturing, coupled with rising healthcare needs, is bolstering the segment’s growth. Moreover, the increasing awareness about generics and their efficacy is further accelerating their adoption. As the demand for treatments for chronic diseases like cardiovascular conditions and diabetes grows, the generic drug segment is positioned for sustained expansion, enabling the pharmaceutical market in Vietnam to reach a broader base of patients.

Increasing Penetration of Branded Drugs and Specialized Medicines

Branded drugs and specialized medicines are experiencing increased market penetration in Vietnam as the healthcare system continues to develop. There is a rising preference for high-quality, branded medicines among patients who seek more effective treatments for chronic conditions and specialized therapies. With greater investment in healthcare infrastructure and rising incomes, the demand for specialized medicines is expected to continue growing. The increasing prevalence of diseases such as cancer and diabetes is also contributing to the expansion of this segment. As the Vietnam pharmaceutical market size 2025 expands, branded drugs are gaining traction due to their superior formulations, patient trust, and robust marketing efforts by multinational pharmaceutical companies.

Focus on Domestic Production and Reducing Import Dependency

Vietnam is increasingly focusing on boosting domestic pharmaceutical production to reduce dependency on imports. This trend is driven by the need to strengthen the local pharmaceutical industry, ensure cost efficiency, and reduce supply chain vulnerabilities. The government has been promoting initiatives to support local pharmaceutical manufacturers through favorable policies, including tax incentives and investment in production facilities. This shift is expected to enhance the country’s self-sufficiency in drug manufacturing, improve the competitiveness of local players, and allow for quicker access to essential medicines. Additionally, growing investments in research and development (R&D) will further solidify the position of domestic pharmaceutical companies in the global market, contributing to the Vietnam pharmaceutical market 2025.

Digitalization and E-Pharmacies

Digitalization is transforming Vietnam’s pharmaceutical market, with e-pharmacies playing an increasingly important role. Online pharmacies are providing patients with greater convenience, access to a wide range of medications, and competitive prices. With rising internet penetration, mobile app usage, and the growing popularity of online shopping, e-pharmacies are rapidly gaining traction. These platforms allow patients to consult with healthcare professionals, order medicines, and have them delivered directly to their homes, expanding healthcare access, especially in rural areas. Digitalization also enables improved supply chain management, inventory tracking, and customer engagement, which are enhancing the overall pharmaceutical experience for consumers. The emergence of Vietnam pharmacy retail is a key aspect of this transformation.

Increased Focus on Biotechnology and Biopharmaceuticals

The focus on biotechnology and biopharmaceuticals is growing rapidly in Vietnam, driven by advances in genetic research, personalized medicine, and new therapeutic areas. The rise in chronic diseases and conditions such as cancer, diabetes, and cardiovascular disorders is pushing the demand for innovative biopharmaceutical treatments. Vietnam pharma is witnessing increased investments in biotechnology research and development, with a focus on creating more effective and targeted therapies. The government’s initiatives to support biotech innovation, alongside collaborations with global pharmaceutical companies, are expected to further propel the growth of the biotechnology segment. As the market for biopharmaceuticals expands, Vietnam pharmaceutical industry overview shows that the country is positioning itself as a competitive player in the biotechnology space.

Strategic Partnerships and Collaborations

Strategic partnerships and collaborations are becoming a key trend in the Vietnam pharmaceutical market growth forecast 2025, as both local and international companies look to expand their market presence. Foreign pharmaceutical companies are increasingly partnering with local manufacturers to gain a foothold in Vietnam, benefiting from local expertise, regulatory knowledge, and distribution networks. These partnerships also enable local firms to access advanced technologies, clinical research, and international expertise. Collaborations with academic institutions and healthcare organizations are facilitating the development of new drugs, while joint ventures are enhancing production capabilities. This trend is expected to strengthen the pharmaceutical ecosystem, leading to increased innovation, market competitiveness, and faster access to new treatments for patients in Vietnam pharmaceutical market.

Vietnam Pharmaceuticals Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2025-2033. Our report has categorized the market based on drug type, product type, application, and distribution channel.

Drug Type Insights:

• Generic Drugs
• Branded Drugs

The report has provided a detailed breakup and analysis of the market based on the drug type. This includes generic drugs and branded drugs.

Product Type Insights:

• Prescription Drugs
• Over-The-Counter Drugs

A detailed breakup and analysis of the market based on the product type have also been provided in the report. This includes prescription drugs and over-the-counter drugs.

Application Insights:

• Cardiovascular
• Metabolic Disorder
• Oncology
• Anti-infective
• Musculoskeletal
• Others

The report has provided a detailed breakup and analysis of the market based on the application. This includes cardiovascular, metabolic disorder, oncology, anti-infective, musculoskeletal, and others.

Distribution Channel Insights:

• Retail Pharmacy
• Hospital Pharmacy
• E-Pharmacy

A detailed breakup and analysis of the market based on the distribution channel have also been provided in the report. This includes retail pharmacy, hospital pharmacy, and e-pharmacy.

Regional Insights:

• Northern Vietnam
• Central Vietnam
• Southern Vietnam

The report has also provided a comprehensive analysis of all the major regional markets, which include Northern Vietnam, Central Vietnam, and Southern Vietnam.

Vietnam Pharmaceutical Companies List:

The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided, including:

• Bayer Vietnam Ltd.
• DHG Pharmaceutical Joint Stock Company
• Traphaco Joint Stock Company
• Pharmaceutical Corporation Ha Tay
• Domesco Medical Import Export Joint Stock Corporation
• OPC Pharmaceutical Joint Stock Company
• Sanofi Vietnam
• Mekophar Chemical and Pharmaceutical JSC
• Pymepharco Joint Stock Company
• Imexpharm Pharmaceutical Joint Stock Company

Vietnam Pharmaceuticals Market News:

• In July 2025, GC Biopharma received marketing authorization from Vietnam's Drug Administration for its varicella vaccine, BARYCELA. The company conducted local clinical trials to demonstrate the vaccine's safety and effectiveness. As part of its strategy, GC Biopharma plans to establish stable revenue by leveraging local affiliates for sales activities. The partnership aims to enhance Vietnam's vaccine production capacity and bolster the local healthcare infrastructure.
• In May 2025, Sanofi and the Vietnam Vaccine Company (VNVC) launched a vaccine production technology transfer to manufacture Sanofi vaccines in Vietnam. The collaboration aims to enhance local vaccine production capabilities and improve access. As part of the deal, VNVC will also build a new 26,000-square-meter vaccine facility in Long An province, with an initial investment of $77.2 million. This facility is expected to produce 100 million vaccine doses annually, strengthening Vietnam's vaccine autonomy and fostering bilateral health and pharmaceutical collaboration between Vietnam and France.
• In April 2025, GE HealthCare and FPT expanded their strategic partnership to promote AI-driven healthcare solutions. The collaboration, now a long-term alliance, will enhance product development and operational efficiency. Key initiatives include establishing an FPT Competency Center in Vietnam to support product strategy, innovation, and customer onboarding. This center will play a critical role in ensuring seamless integration within GE HealthCare's digital ecosystem.
• In August 2024, DocMed Technology formed a joint venture with Hoang Duc Pharmaceutical in Vietnam to digitalize the pharmaceutical supply chain. This collaboration introduces the Vietnam Hypermart, a B2B virtual platform designed to promote efficiency and transparency in the distribution of pharmaceutical products, medical devices, and OTC products. The platform leverages DocMed's tech expertise and Hoang Duc’s distribution network, targeting 35,000 B2B customers including hospitals and pharmacies.

Vietnam Pharmaceuticals Market Report Coverage:

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Vietnam pharmaceuticals market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Vietnam pharmaceuticals market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Vietnam pharmaceuticals industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.