Vietnam Pharmaceuticals Market Size, Share, Trends, and Forecast by Drug Type, Product Type, Application, Distribution Channel, and Region, 2025-2033

Vietnam Pharmaceuticals Market Size and Share:

The Vietnam pharmaceuticals market size was valued at USD 7,437.58 Million in 2024. Looking forward, the market is expected to reach USD 14,069.73 Million by 2033, exhibiting a 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 Vietnam pharmaceuticals market share.

The market is experiencing robust growth driven by multiple interrelated factors that enhance both supply and demand. The rising prevalence of chronic and lifestyle-related diseases such as diabetes, cardiovascular disorders, and cancer significantly increases the need for long-term medication and advanced treatments. An aging population also contributes to sustained demand for prescription drugs and specialized therapies. Improvements in healthcare infrastructure, including modern hospitals, upgraded clinics, and community health programs, expand access to quality medical services across urban and rural regions. Government initiatives promoting universal health coverage and expanded health insurance schemes further make pharmaceuticals more affordable and accessible to a broader population.

The Vietnam pharmaceuticals market growth is also driven by Vietnam’s regulatory environment, which is becoming more favorable, with streamlined approval processes and incentives for domestic manufacturing. Local companies benefit from government support to produce cost-effective generics, reducing reliance on imports and improving supply chain resilience. Foreign direct investment and partnerships with multinational pharmaceutical firms bring advanced technologies, high-quality standards, and research capabilities to the market. The rapid expansion of e-pharmacies and retail pharmacy chains also strengthens distribution channels, ensuring wider product availability. For instance, in September 2024, Takeda served as a committed healthcare partner in Việt Nam for more than ten years, providing innovative therapies and making significant contributions to public health and society. The recent authorization of Takeda’s dengue vaccine reinforces this dedication. Dion Warren, Area Head for India & Southeast Asia (I-SEA), offers perspectives on the company’s progress in Việt Nam, its public health impact, and future.

Vietnam Pharmaceuticals Market Trends:

Strong Growth of the Generic Segment

The 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. According to the World Health Organization (WHO), in 2016, cardiovascular diseases were responsible for 31% of all deaths in Vietnam. The prevalence of hypertension among adults aged 18-69 years was reported at 18.9%.

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. According to the Vietnam pharmaceuticals market trends, 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. As reported, Vietnam currently has approximately seven million individuals diagnosed with diabetes, with more than 55% of patients already experiencing complications. Notably, 34% of these complications are cardiovascular in nature.

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 NGO Centre highlights that the WHO classifies Vietnam’s pharmaceutical industry as Level 3, capable of producing generic drugs while remaining partially self-sufficient in certain products, with domestically produced drugs representing about 70% of the total quantity. 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. According to the Vietnam pharmaceuticals market forecast, 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. According to IMARC Group, the Vietnam biotechnology market size stood at USD 3,046.0 MIllion in 2024 and is projected to grow at a CAGR of 11.8% to reach USD 8,312.0 Million by 2033. 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. This is further supported by strong foreign direct investment (FDI), which reached USD 13.82 Billion in early 2025, marking nearly a 40% increase year-on-year, a portion of which is flowing into healthcare and digital infrastructure. 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 the market.

Vietnam Pharmaceuticals Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the Vietnam pharmaceuticals market, along with forecasts at the regional levels from 2025-2033. The market has been categorized based on drug type, product type, application, and distribution channel.

Analysis by Drug Type:

• Generic Drugs
• Branded Drugs

Generic drugs are projected to capture a significant portion of the market due to their cost-effectiveness and wide availability. As healthcare spending rises, both public health programs and private patients increasingly favor affordable alternatives to branded medications. Government initiatives encouraging the use of generics, combined with an expanding network of domestic manufacturers, further drive demand. Hospitals and pharmacies often stock generics to reduce treatment costs, making them a preferred choice for common illnesses and chronic conditions. Improved quality standards and regulatory approvals also enhance consumer confidence, ensuring generic drugs maintain a dominant position within Vietnam’s evolving pharmaceutical landscape.

Branded drugs are expected to hold a substantial share of market because of their strong reputation for quality, reliability, and innovative formulations. Many patients and healthcare professionals perceive branded medicines as more trustworthy, particularly for serious or complex conditions. Continuous research and development by multinational pharmaceutical companies introduce advanced therapies that generics may not immediately match. Additionally, rising incomes and urbanization are increasing demand for premium healthcare solutions. Marketing strategies, brand loyalty, and doctor prescriptions further strengthen the presence of branded products, ensuring that they remain a critical segment even as generic alternatives expand across Vietnam’s growing pharmaceutical sector.

Analysis by Product Type:

• Prescription Drugs
• Over-The-Counter Drugs

Prescription drugs are anticipated to command the largest share of the market because they are essential for treating chronic illnesses and complex medical conditions that require professional supervision. Rising incidences of cardiovascular disease, diabetes, and cancer drive continuous demand for physician-prescribed therapies. Vietnam’s expanding healthcare infrastructure and increasing access to hospitals and clinics ensure greater diagnosis and treatment rates, further boosting prescription medicine usage. Government support for improved healthcare services and stricter regulations around controlled substances also reinforces the reliance on prescribed drugs, making them a critical and dominant segment in the country’s growing pharmaceutical landscape.

Over-the-counter drugs are expected to maintain a strong position in Vietnam’s pharmaceutical market due to their accessibility and convenience for self-care. Consumers increasingly purchase OTC products for common ailments like colds, allergies, or digestive issues without visiting a doctor, saving time and cost. Expanding retail pharmacies, supermarkets, and e-commerce platforms make these medicines widely available, which is further creating a positive Vietnam pharmaceuticals market outlook. Growing health awareness and proactive self-medication practices, especially among younger and urban populations, further stimulate demand. Additionally, supportive regulatory frameworks and strong marketing campaigns by pharmaceutical companies enhance consumer trust and recognition, ensuring OTC drugs remain a substantial and competitive segment across the Vietnamese market.

Analysis by Application:

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

Cardiovascular drugs are expected to capture a leading share of the market due to the rising prevalence of hypertension, heart disease, and stroke linked to aging populations, urban lifestyles, and dietary changes. Increasing health screenings and early diagnosis encourage sustained treatment, while government programs emphasize cardiovascular care and prevention. Growing awareness of heart-related conditions and the need for long-term medication adherence drive steady demand. Hospitals and clinics continually prescribe advanced therapies and combination drugs to manage chronic cardiovascular issues, ensuring this therapeutic area remains dominant within Vietnam’s expanding pharmaceutical landscape and critical for reducing mortality and improving patient outcomes.

Medications for metabolic disorders are projected to hold a substantial share as diabetes, obesity, and related conditions escalate across Vietnam. Sedentary habits, changing diets, and higher stress levels contribute to the rising incidence of metabolic syndromes requiring consistent pharmaceutical intervention. Government-led health campaigns and increased diagnostic testing lead to earlier detection and ongoing treatment. Advanced insulin therapies, oral antidiabetic agents, and lifestyle-management drugs are in strong demand. As awareness of long-term complications grows, both physicians and patients prioritize effective, continuous care, ensuring metabolic disorder drugs maintain significant market influence in Vietnam’s evolving healthcare system and pharmaceutical industry.

Oncology treatments are anticipated to represent a major segment of Vietnam’s pharmaceuticals market because of increasing cancer prevalence and improved detection rates. Expanding healthcare infrastructure and investments in oncology centers facilitate better access to cutting-edge therapies, including targeted biologics and immunotherapies. Patients and healthcare providers seek advanced, effective treatments that improve survival rates and quality of life, supporting sustained demand for cancer medications. Government health initiatives and international collaborations further enhance availability and affordability of oncology drugs. Continuous research and the introduction of innovative therapies ensure oncology remains one of the most critical and fastest-growing areas within Vietnam’s pharmaceutical sector.

Analysis by Distribution Channel:

• Retail Pharmacy
• Hospital Pharmacy
• E-Pharmacy

Retail pharmacies are projected to secure a dominant share of Vietnam’s pharmaceuticals market due to their extensive presence and easy accessibility in urban and rural areas. Consumers rely on these outlets for both prescription and over-the-counter medicines, benefiting from personalized service and immediate availability. Expanding pharmacy chains, competitive pricing, and increasing healthcare awareness further boost foot traffic. Retail pharmacies also play a key role in patient counseling and chronic disease management, strengthening customer loyalty. With strong brand recognition, wide product assortments, and convenient locations, retail pharmacies remain the most common and trusted channel for pharmaceutical purchases across Vietnam’s growing healthcare landscape.

Hospital pharmacies are expected to maintain a significant share because they are integral to treating complex conditions that require professional supervision and specialized medications. They provide controlled distribution of prescription drugs for inpatients and outpatients, ensuring accurate dosages and adherence to treatment plans. The rise in hospital admissions for chronic illnesses, improved diagnostic capabilities, and government investment in healthcare infrastructure all contribute to increasing demand. Hospital pharmacies also handle high-value specialty drugs, oncology treatments, and emergency medicines, reinforcing their critical role. Their direct link with healthcare professionals ensures patient safety and effective care, securing a strong position in Vietnam’s pharmaceutical market.

E-pharmacies are forecast to capture a growing and influential share of Vietnam’s pharmaceuticals market as digital adoption and internet penetration accelerate. Consumers value the convenience of ordering medications online with home delivery, particularly for refills and wellness products. Expanding e-commerce infrastructure, secure digital payment options, and regulatory support for online pharmaceutical sales further encourage growth. E-pharmacies often offer competitive pricing, detailed product information, and discreet purchasing experiences, appealing to tech-savvy and time-conscious consumers. As urban lifestyles become busier and healthcare digitization advances, e-pharmacies will continue to gain prominence, making them a vital and rapidly expanding distribution channel in Vietnam’s healthcare ecosystem.

Regional Analysis:

• Northern Vietnam
• Central Vietnam
• Southern Vietnam

The pharmaceutical market in Northern Vietnam is driven by the presence of major administrative and healthcare hubs such as Hanoi, which fosters advanced medical facilities and research institutions. Government-backed healthcare programs and increasing investment in hospital infrastructure enhance access to modern treatments. Rising prevalence of chronic diseases and growing awareness of preventive healthcare boost prescription and over-the-counter drug demand. Expanding distribution networks and strong partnerships between domestic manufacturers and international firms ensure reliable supply. Educational initiatives and an increasing middle-class population seeking quality healthcare services further support market growth, positioning Northern Vietnam as a key pharmaceutical consumption and innovation center.

 The Central Vietnam pharmaceutical market demand is fueled by improving healthcare infrastructure in cities like Da Nang and Hue, alongside ongoing government efforts to expand medical services to semi-urban and rural communities. Tourism-driven economic activity also increases demand for accessible healthcare facilities and medicines. A rising focus on community health programs, vaccination campaigns, and chronic disease management supports steady pharmaceutical consumption. Local distribution networks are expanding, while regional logistics improvements ensure timely product availability. Additionally, increasing health awareness and lifestyle changes encourage both prescription and over-the-counter drug purchases, making Central Vietnam an emerging and strategically important region for pharmaceutical development and investment.

Southern Vietnam, particularly Ho Chi Minh City, drives pharmaceutical market expansion through its status as the country’s largest economic and healthcare hub. Advanced hospitals, private clinics, and international healthcare partnerships encourage demand for high-quality medicines and specialty treatments. A rapidly growing population, higher income levels, and strong urbanization lead to increased healthcare spending. A robust pharmaceutical manufacturing and distribution infrastructure enables efficient supply chains. Moreover, rising incidences of chronic and lifestyle-related diseases fuel demand for prescription drugs and preventive care. The region’s thriving e-commerce sector also supports online pharmacy growth, solidifying Southern Vietnam as a vital driver of the national pharmaceutical market.

Competitive Landscape:

The Vietnam pharmaceuticals market is highly competitive, featuring a mix of strong domestic firms and large multinational corporations. Domestic leaders like DHG Pharmaceutical, Traphaco, Imexpharm, Domesco, OPC, Mekophar, Pymepharco, and Sovipharm dominate the generics, traditional medicine, and mass-market OTC segments with cost-efficient production and extensive distribution networks. International players such as Sanofi Vietnam, Bayer Vietnam, Novartis, and GSK maintain influence by introducing high-value branded pharmaceuticals, specialty drugs, vaccines, and collaborating on regulatory-compliant manufacturing facilities. Market competition hinges on quality certifications (e.g. EU-GMP), regulatory approvals, pricing strategies, mergers or partnerships, and expanding pharmacy retail chains, with growing pressure on domestic manufacturers to boost innovation and reduce reliance on imports.

The report provides a comprehensive analysis of the competitive landscape in the Vietnam pharmaceuticals market with detailed profiles of all major companies, 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

Latest News and Developments:

• August 2025: Celltrion expanded in Vietnam by launching four drugs, including Remsima for autoimmune diseases and Herzuma for breast and stomach cancers, both already approved and supplied through major hospitals. It prepared further rollouts of RemsimaSC and Truxima. Leveraging direct sales and strong ASEAN performance, Celltrion strengthened its foothold in Vietnam’s fast-growing pharma sector.
• 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.
• 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.
• 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.

Vietnam Pharmaceuticals Market Report Scope:

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.