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 rate of aging in Vietnamese
population, entrance of retail companies in pharmacy space, and growing
demand of 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 and awareness have 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 rate of aging in Vietnamese
population
The increase in number of pharmacies
is due to rapid aging effect of Vietnamese population. According to the
Ministry of Health, Vietnam has slowly experienced the initial stage of ageing 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 are the factors bolster
the growth of pharmacy retail market.
Entrance of retail companies in
pharmacy space
The pharmacy retail chain market is
gaining interest 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 Retail Pharmacy Market.
Growing demand of 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 drives the market growth.
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Market
Segmentation
The Vietnam
Pharmacy Retail market can be segmented into
market
structure, product type, therapeutic area, drug type, pharmacy location, and region. 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.
|
Attribute
|
Details
|
|
Market size value in 2021
|
USD7.45 billion
|
|
Revenue Forecast in 2027
|
USD10.68
billion
|
|
Growth Rate
|
6.00%
|
|
Base Year
|
2021
|
|
Historic Data
|
2017 – 2021
|
|
Estimated Year
|
2022
|
|
Forecast Period
|
2022 – 2027
|
|
Quantitative Units
|
Revenue in USD Million, and CAGR for 2017-2021 and 2022-2027
|
|
Report coverage
|
Revenue forecast, company share, competitive landscape, growth
factors, and trends
|
|
Segments covered
|
·
Market Structure
·
Product
Type
·
Therapeutic Area
·
Drug
Type
·
Pharmacy
Location
·
Region
|
|
Regional scope
|
Southern, Northern and
Central
|
|
Key companies profiled
|
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, KuDos
Pharmaceutical Joint Stock Company, VinFa Joint Stock Company, Guardian
Vietnam, Matsumoto Kiyoshi Vietnam Joint Stock Company
|
|
Customization scope
|
10% free report customization with purchase. Addition or
alteration to country, regional & segment scope.
|
|
Pricing and purchase options
|
Avail customized purchase options to meet your exact research
needs. Explore purchase
options
|
|
Delivery Format
|
PDF and
Excel through Email (We can also provide the editable version of the report
in PPT/Word format on special request)
|
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:
o Unorganized
o Organized
·
Vietnam
Pharmacy Retail Market, By Product Type:
o
Over-the-Counter
Products
o
Prescribed
Drugs
o
Non-Pharmaceutical
Products
o Medical Equipment
·
Vietnam
Pharmacy Retail Market, By Therapeutic Area:
o
Cardiovascular
o
Pain
Relief/Analgesics
o
Vitamins/Minerals/Nutrients
o
Anti-Infective
o
Anti-Diabetic
o Others
·
Vietnam
Pharmacy Retail Market, By Drug Type:
o
Generic
o
Patented
·
Vietnam Pharmacy Retail Market, By Pharmacy Location:
o Hospital Based
·
Vietnam Pharmacy Retail, By Region:
o
Southern
o
Northern
o
Central
Competitive Landscape
Company Profiles: Detailed analysis of the major
companies present in Vietnam Pharmacy Retail market
Available Customizations:
With the given market data, TechSci Research offers
customizations according to a company’s specific needs. The following
customization options are available for the report:
Company
Information
- Detailed analysis and profiling of additional market players (up to
five).