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Report Description

Report Description

Key Insights

Details

Forecast Period

2027-2031

Market Size (2025)

USD 3.88 Billion

CAGR (2026-2031)

6.71%

Fastest Growing Segment

Organized

Largest Market

Southern Vietnam

Market Size (2031)

USD 5.73 Billion

Market Overview

The Pharmacy Retail Market in Vietnam will grow from USD 3.88 Billion in 2025 to USD 5.73 Billion by 2031 at a 6.71% CAGR. The Vietnam Pharmacy Retail Market encompasses the comprehensive distribution and sale of pharmaceutical products, including prescription medications, over-the-counter drugs, and various health-related items, directly to consumers through diverse retail channels such as independent pharmacies and chain drugstores across the country. Key drivers supporting the market's expansion include the nation's increasing healthcare expenditure, a steadily growing and aging population requiring greater medical attention, and enhanced public awareness regarding health and wellness.


These factors collectively contribute to robust demand, for instance, according to the Drug Administration of Vietnam, the pharmaceutical distribution network in 2025 included over 40,500 pharmacies nationwide. However, a significant challenge impeding market expansion is the prevalence of inconsistent legal frameworks and complex licensing procedures, which can hinder new market entrants and operational efficiencies.

Key Market Drivers

Aging Population Drives Pharmacy Market Growth
The aging population and accompanying demographic shifts represent a primary growth engine for the Vietnam Pharmacy Retail Market. As the proportion of older adults increases, there is a corresponding rise in the prevalence of chronic and age-related diseases, which necessitates continuous and often specialized pharmaceutical care. This demographic trend directly translates into sustained demand for a broader range of medications, including those for long-term conditions and preventive healthcare products. According to the International Trade Administration, in August 2025, 14.2 million people in Vietnam were over 60 years old in 2024, accounting for over 14% of the population, thereby forming a reliable consumer base for pharmacies.

Rising Incomes and Healthcare Spending Propel Market Expansion
Further fueling market expansion is the continuous increase in disposable incomes and healthcare expenditure across Vietnam. Economic development has empowered a larger segment of the population to invest more in their health, seeking better quality medicines and a wider array of health supplements. According to B&Company, in April 2026, Vietnam's per capita healthcare expenditure reached USD 270 annually in 2025, with a significant portion allocated to medicines, underpinning the retail sector's vitality. Market participants are also demonstrating strong financial performance; according to Theinvestor.vn, in March 2026, Hau Giang Pharmaceutical JSC reported net revenue of VND5.27 trillion ($201 million) in 2025, marking a 7.8% year-on-year increase.

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Key Market Challenges

Regulatory volatility and licensing burdens
The prevalence of inconsistent legal frameworks and complex licensing procedures significantly impedes the expansion of the Vietnam Pharmacy Retail Market. The frequent introduction of new legal instruments necessitates continuous adaptation by market participants, leading to increased operational complexities and compliance burdens. For instance, according to the Vietnamese government, four significant legal instruments, including Law No. 44/2024/QH15, Decree No. 163/2025/ND-CP, Circular 31/2025/TT-BYT, and Decree 90/2026, came into effect or were enacted between July 2025 and May 2026, directly impacting the pharmaceutical sector and retail operations.

Regulatory costs and uncertainty constrain growth
These constant shifts in regulatory requirements demand substantial resources for legal review and procedural adjustments, particularly for businesses seeking to expand their retail footprint or introduce new products. Such an environment creates uncertainty, deterring new market entrants and slowing down investment. Existing players also face elevated administrative costs and potential delays in obtaining necessary licenses or approvals, which constrains their ability to optimize supply chains and achieve operational efficiencies across their pharmacy networks. This directly limits the overall growth potential within the fragmented Vietnamese pharmacy retail landscape.

Key Market Trends

Consolidation and Standardization in Vietnam's Pharmacy Retail Market
Modernization and consolidation of pharmacy chains represent a significant trend reshaping the Vietnam Pharmacy Retail Market, moving away from fragmented independent outlets towards larger, organized networks. This shift allows for greater operational efficiencies, standardized services, and enhanced supply chain management. Major players are actively expanding their physical footprints to achieve broader market penetration and scale economies, thereby improving accessibility for consumers across various regions. According to Vietdata Research, in June 2025, Long Châu Pharmacy, a subsidiary of FPT Retail, had expanded to 2,117 stores nationwide, demonstrating this rapid consolidation within the market. This expansion strategy is also accompanied by efforts to standardize store layouts and service offerings, enhancing the overall consumer experience.

Technology-Driven Transformation and AI in Pharmacy Retail
Concurrently, the adoption of advanced pharmacy technologies is fundamentally transforming retail operations and service delivery within the market. Pharmacies are increasingly leveraging technological innovations to streamline processes, improve inventory accuracy, and offer more personalized customer interactions. This includes implementing digital solutions for prescription management, automated dispensing systems, and data analytics for better decision-making. Such technological integration aims to boost efficiency and elevate service quality, distinguishing modern pharmacies from traditional setups. According to Tuoi tre news, in April 2026, FPT Retail announced plans to accelerate the use of artificial intelligence in operations, aiming to raise labor productivity by approximately 20 percent. This focus on technology signifies a commitment to operational excellence and a proactive approach to meeting evolving consumer demands for convenient and accurate pharmaceutical services.

Segmental Insights

Organized Segment: Fastest-Growing in Vietnam Pharmacy Retail
The Organized segment is the fastest-growing in the Vietnam Pharmacy Retail Market, driven by evolving consumer preferences and a supportive regulatory environment. This rapid expansion is primarily fueled by the increasing demand for modern retail experiences offering a wider range of authentic products, enhanced services, and customer loyalty programs. Furthermore, the growth is underpinned by significant urbanization and a burgeoning middle class increasingly seeking convenience and trust in pharmaceutical purchases. Recent amendments to the Law on Pharmacy, effective July 1, 2025, officially recognizing pharmacy chains and online sales, further solidify the legal framework, encouraging expansion and bolstering consumer confidence in regulated, modern pharmacy formats under the oversight of bodies like the Ministry of Health.

Regional Insights

Southern Vietnam: Market Leader with Strong Demographics, Infrastructure, and Retail Presence
Southern Vietnam holds the leading position in the Vietnam Pharmacy Retail Market. This dominance is primarily attributed to the region's robust economic landscape and high population density, especially within Ho Chi Minh City, which serves as the country's key commercial hub. The area benefits from advanced healthcare infrastructure and strong consumer purchasing power, driving substantial demand for pharmaceutical products. Furthermore, the concentration of major retail pharmacy chains in Southern Vietnam solidifies its market leadership, facilitating the development and adoption of modern pharmacy models. Increased healthcare awareness within the urbanized population further contributes to sustained market expansion.

Recent Developments

  • In December 2025, French pharmaceutical group Biocodex Vietnam entered into a strategic partnership with Pharmacity, a prominent pharmacy retail chain in Vietnam. The collaboration, formalized in Ho Chi Minh City, aimed to expand the distribution of Biocodex’s European-standard healthcare products throughout Pharmacity’s extensive nationwide retail network. This alliance represented a significant step in enhancing the availability of high-quality health products for Vietnamese consumers, demonstrating a commitment to improving community healthcare standards through increased product accessibility and strategic market reach within the pharmacy sector.
  • In March 2025, GS25 Vietnam and Dongwha Pharm’s Vietnamese pharmacy subsidiary launched a collaborative "convenience store-pharmacy" shop-in-shop model, marking a new development in the Vietnam pharmacy retail market. This innovative format, first opened in Tien Giang Province, integrated a convenience store with pharmacy services, providing customers with access to over 1,500 types of medications and 600 health products, alongside professional pharmacist consultations. The companies planned to expand this concept with more than 10 additional locations in major urban areas of Vietnam, enhancing consumer access to essential health products and services.
  • In April 2024, FPT Retail revealed its strategic vision to transform its Long Chau pharmacy chain into a comprehensive healthcare ecosystem in the Vietnamese market. This ambitious plan included establishing clinics and hospitals, alongside launching new homecare services under the name LC247, and introducing medicine coverage programs in collaboration with major insurers such as IHH Healthcare, Bao Viet, and PVI. The company also explored a private placement, offering up to 10% of Long Chau shares, to help fund these extensive developments and broaden its healthcare offerings beyond traditional pharmacy retail.
  • In March 2024, FPT Retail announced plans for a significant expansion of its Long Chau pharmacy chain within the Vietnam pharmacy retail market. The company aimed to open 400 new Long Chau pharmacies and establish 100 vaccination centers during the year. This strategic initiative was part of Long Chau's broader goal to reach 1,900 outlets by the end of 2024, reinforcing its position in the market. The expansion into vaccination services represented a new product offering, contributing to a more comprehensive healthcare service model for customers across Vietnam.

Key Market Players

  • Pharmacity
  • FPT Long Châu
  • An Khang Pharmacy
  • Phano Pharmacy
  • Medicare Vietnam
  • Watsons Vietnam
  • Guardian Vietnam
  • ECO Pharma
  • Trung Son Pharma
  • Nhathuoc365

By Market Structure

By Product Type

By Therapeutic Area

By Drug Type

By Pharmacy Location

By Region

  • Unorganized
  • Organized
  • Over-the-Counter Products
  • Prescribed Drugs
  • Non-Pharmaceutical Products
  • Medical Equipment
  • Cardiovascular
  • Pain Relief/Analgesics
  • Vitamins/Minerals/Nutrients
  • Anti-Infective
  • Anti-Diabetic
  • Others
  • Generic
  • Patented
  • Street/Mall Based
  • Hospital Based
  • Northern
  • Central
  • Southern

Report Scope:

In this report, the Vietnam Pharmacy Retail Market has been segmented into the 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 Market, By Region:
  • Northern
  • Central
  • Southern

Competitive Landscape

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

Available Customizations:

Vietnam Pharmacy Retail Market report 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).

Vietnam Pharmacy Retail Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at sales@techsciresearch.com

Table of content

Table of content

1.    Product Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.2.1.  Markets Covered

1.2.2.  Years Considered for Study

1.2.3.  Key Market Segmentations

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

3.1.  Overview of the Market

3.2.  Overview of Key Market Segmentations

3.3.  Overview of Key Market Players

3.4.  Overview of Key Regions/Countries

3.5.  Overview of Market Drivers, Challenges, Trends

4.    Voice of Customer

5.    Vietnam Pharmacy Retail Market Outlook

5.1.  Market Size & Forecast

5.1.1.  By Value

5.2.  Market Share & Forecast

5.2.1.  By Market Structure (Unorganized, Organized)

5.2.2.  By Product Type (Over-the-Counter Products, Prescribed Drugs, Non-Pharmaceutical Products, Medical Equipment)

5.2.3.  By Therapeutic Area (Cardiovascular, Pain Relief/Analgesics, Vitamins/Minerals/Nutrients, Anti-Infective, Anti-Diabetic, Others)

5.2.4.  By Drug Type (Generic, Patented)

5.2.5.  By Pharmacy Location (Street/Mall Based, Hospital Based)

5.2.6.  By Region

5.2.7.  By Company (2025)

5.3.  Market Map

6.    Northern Pharmacy Retail Market Outlook

6.1.  Market Size & Forecast

6.1.1.  By Value

6.2.  Market Share & Forecast

6.2.1.  By Market Structure

6.2.2.  By Product Type

6.2.3.  By Therapeutic Area

6.2.4.  By Drug Type

6.2.5.  By Pharmacy Location

7.    Central Pharmacy Retail Market Outlook

7.1.  Market Size & Forecast

7.1.1.  By Value

7.2.  Market Share & Forecast

7.2.1.  By Market Structure

7.2.2.  By Product Type

7.2.3.  By Therapeutic Area

7.2.4.  By Drug Type

7.2.5.  By Pharmacy Location

8.    Southern Pharmacy Retail Market Outlook

8.1.  Market Size & Forecast

8.1.1.  By Value

8.2.  Market Share & Forecast

8.2.1.  By Market Structure

8.2.2.  By Product Type

8.2.3.  By Therapeutic Area

8.2.4.  By Drug Type

8.2.5.  By Pharmacy Location

9.    Market Dynamics

9.1.  Drivers

9.2.  Challenges

10.    Market Trends & Developments

10.1.  Merger & Acquisition (If Any)

10.2.  Product Launches (If Any)

10.3.  Recent Developments

11.    Competitive Landscape

11.1.  Pharmacity

11.1.1.  Business Overview

11.1.2.  Products & Services

11.1.3.  Recent Developments

11.1.4.  Key Personnel

11.1.5.  SWOT Analysis

11.2.  FPT Long Châu

11.3.  An Khang Pharmacy

11.4.  Phano Pharmacy

11.5.  Medicare Vietnam

11.6.  Watsons Vietnam

11.7.  Guardian Vietnam

11.8.  ECO Pharma

11.9.  Trung Son Pharma

11.10.  Nhathuoc365

12.    Strategic Recommendations

13.    About Us & Disclaimer

Figures and Tables

Frequently asked questions

Frequently asked questions

The market size of the Vietnam Pharmacy Retail Market was estimated to be USD 3.88 Billion in 2025.

Southern Vietnam is the dominating region in the Vietnam Pharmacy Retail Market.

Organized segment is the fastest growing segment in the Vietnam Pharmacy Retail Market.

The Vietnam Pharmacy Retail Market is expected to grow at 6.71% between 2026 to 2031.

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