Vietnam Pharmaceuticals Market Size, Share & Industry Analysis, By Type (Drugs & Vaccines), By Disease Indication (Oncology, Diabetes, Infectious, Cardiovascular, Neurology & Psychiatry, Respiratory, Renal, Obesity, Autoimmune, Ophthalmic, Gastrointestinal, Dermatology, Hematology/Blood, Liver/Hepatology, Genetic, Hormonal/Endocrine, Women’s Health, Reproductive, Allergies, Others), By Drug Type (Biologics & Biosimilars, & Small Molecules/Conventional Drugs), By Route of Administration (Oral, Parenteral, Topical, & Inhalation), By Age Group, By Distribution Channel, and Forecast, 2025-2032

The Vietnam Pharmaceuticals market size was worth USD 7.94 billion in 2024 and is estimated to grow to USD 8.58 billion in 2025 and reach USD 16.03 billion by 2032. The market is projected to grow at a CAGR of 9.33% during the forecast period.

The Vietnam pharmaceuticals market is expected to witness significant growth during the forecast period. Increasing number of chronic diseases, coupled with rising aging population is leading to a growing demand for pharmaceutical products such as generic drugs, which includes prescription drugs.

Furthermore, rising focus of key players to expand their footprints in the country with strategic initiatives such as collaborations, and clinical trials is propelling the market growth in the country.

Additionally, presence of active government programs to increase the adoption of drugs and vaccines in the country is contributing to the market growth prospects.

• For instance, in July 2025, as per the World Health Organization, Vietnam achieved 99.0% coverage for the first dose of diphtheria, tetanus, and pertussis vaccine.

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As per the WHO, Vietnam achieved remarkable progress in childhood immunization, with 95.0% reduction in the number of unvaccinated children.

Vietnam Pharmaceuticals Market Trends

Rising Focus on Offerings Such as Specialty Medicine is a Prominent Market Trend

The rising focus on targeted treatment and cell based therapy for genetic disorders, rare diseases, blood disorders, and cancers is shifting the focus of caregivers and companies on developing and launching new specialty medicines.

• For instance, in August 2025, the Vinmec Research Institute of Stem Cells and Gene Technology (VRISG) announced the successful treatment of first patient with T-cell immunotherapy for acute lymphoblastic leukemia. Such positive outcomes is expected to propel the adoption of the novel therapies, highlighting as a prominent Vietnam pharmaceuticals market trends.

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As per the study performed by the University Medical Center, Vietnam, in March 2025, the prevalence of prediabetes and undiagnosed diabetes were significantly higher among people in Vietnam.

Vietnam Pharmaceuticals Market Growth Factors

Increasing Strategic Activities for Expansion of Pharmaceuticals Business to Drive Market Growth

In recent times, there has been increasing strategic activities between the major pharmaceutical players for broadening of the product portfolios, enhancement of technology transfer, launching of new therapeutic segments, and strengthening of distribution networks. Such factors are expected to drive the Vietnam pharmaceuticals market growth.

• For instance, in July 2025, Britain's Medicines and Healthcare products Regulatory Agency signed an agreement under a new trade strategy for industry-specific deals with Vietnam. This agreement helped to simplify the registration process of new medicines and vaccines for the sales of U.K.-made medicines in the Southeast Asian nation.

Vietnam Pharmaceuticals Market Restraints

Limited Public Access to New Drugs Restricts Market Growth

Lengthy drug registration processes delays the market entry of new drugs and thus discourages investments from the global pharmaceutical companies, and reduces the access of new treatments for the patients.

• For instance, in November 2024, as per the National Assembly session, only 9.0% of new medicines have been introduced in Vietnam over the past decade, which is far lower than the other Asian Pacific countries. Such factors hamper the growth of the market.

Segmentation Analysis

By Type

Strategic Collaborations to Propel Vaccine Manufacturing and Boost Segmental Growth

On the basis of type segment, the market is segmented into vaccines and drugs.

The vaccines segment is expected to grow at the highest CAGR during the forecast period. Increasing strategic activities amongst the key players including the regional companies to expand the production capacities of vaccines in Vietnam, thus propelling the segment’s growth in the market.

• For instance, in May 2025, Sanofi strategically collaborated with the Vietnam Vaccine Company (VNVC) to transfer the vaccine manufacturing technology. This collaboration is aimed to enable the local production of Sanofi vaccines in Vietnam, making the country independent in pharmaceuticals market and for public health resilience.

By Disease Indication

Rising Development Activities to Launch Drugs for Respiratory Conditions to Boost Segmental Growth

Based on disease indication, the market is segmented into ophthalmic, infectious, cardiovascular, oncology, diabetes, neurology & psychiatry, hematology/blood, liver/hepatology, respiratory, renal, obesity, autoimmune, gastrointestinal, dermatology, genetic, hormonal/endocrine, women’s health, reproductive, allergies, and others.

The respiratory segment is expected to grow at a significant compound annual growth rate (CAGR) during the forecast period. Increasing prevalence of respiratory diseases and emphasis on developing new formulations for its treatment is propelling the segment’s growth.

• For instance, in May 2025, Vietnamese scientists developed and launched LiveSpo NAVAX. It is a nasal-spray probiotic product that supports the treatment of rhinosinusitis and otitis media in children.

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As per the Global Cancer Observatory 2022 report, breast cancer is the most frequent cancer in Vietnam.

 By Drug Type

Approval for Commercialization of Biosimilars to Propel Biologics & Biosimilars Segment’s Growth

On the basis of drug type, the market is segmented into small molecules/ conventional drugs and biologics & biosimilars.

The biologics & biosimilars segment is expected to grow substantially during forecast period. Increasing regulatory approvals for commercialization of biosimilars in the Vietnam market is bolstering the market growth.

• For instance, in March 2025, Bio-Thera Solutions and Dr. Reddy’s Laboratories received commercialization and license agreements for BAT2206, a proposed Stelara (ustekinumab) biosimilar, and BAT2506, a proposed Simponi (golimumab) biosimilar in Southeast Asia, including

By Route of Administration

Launch of Novel Oral Drug Formulation to Drive Segments Growth

Based on the route of administration, the market is divided into oral, parenteral, topical, inhalation, and others.

The oral segment is expected to hold the highest market share.  The advantages associated with the oral drugs and better treatment adherence are few factors driving the segmental growth. Additionally, launches of advanced formulations for preventive therapy also boosts the segmental growth.

• For instance, in August 2024, Viet Phap International Co., Ltd. launched Akynzeo. It is an antiemetic drug used to treat chemotherapy-induced nausea and vomiting (CINV).

By Age Group

Increasing Programs for Pediatric Immunization Propeled Segments’ Growth

By age group, the market is bifurcated into pediatric and adults.

The pediatric segment held a significant proportion of Vietnam pharmaceuticals market share in 2024. Rising risk of infectious diseases among the children and increasing number of immunization programs for them drives the segment’s growth.

• For instance, in July 2025, the Ministry of Health, Vietnam, and UNICEF completed the nationwide campaign of rotavirus vaccination under the National Expanded Programme on Immunization (NEPI).

By Distribution Channel

Expansion of Retail Pharmacies to Bolster the Segments’ Growth

By distribution channel the market is segmented into hospital pharmacies, drug stores & retail pharmacies, and online pharmacies. The drug stores and retail pharmacies segment held a significant portion of the market. Rising number of activities to expand the retail pharmacy chains in the country is to boost the segment’s growth.

• For instance, in March 2025, FPT Retail expanded their plan to establish 500 new pharmacies in Vietnam. These retail pharmacies will comprise of a pharmacy plus vaccination centers, thus augmenting patient access near or within healthcare facilities.

List of Key Companies in the Vietnam Pharmaceuticals Market

Pfizer Inc., AbbVie Inc., and Abbott are the prominent players in the Vietnam pharmaceuticals market. Presence of key products coupled with strategic activities to boost their manufacturing capabilities in the country is expected to maintain their position in market.

The other small & medium-sized market players in the country, including DHG Pharmaceutical Joint-stock Company, Bayer AG, and others are offering variety of products in branded and generic formulations. They are also expanding focus on investment in research and development activities and regulatory approvals to propel their market position.

LIST OF KEY COMPANIES PROFILED

• DHG Pharmaceutical Joint-stock Company (Vietnam)
• Imexpharm Corporation (Vietnam)
• Bidiphar (Vietnam)
• Sanofi (France)
• Bayer AG (France)
• Pfizer Inc. (U.S.)
• Abbott (U.S.)
• Merck & Co., Inc. (Vietnam)
• AbbVie Inc. (U.S.)
• AstraZeneca (U.K.)

KEY INDUSTRY DEVELOPMENTS

• September 2024: Takeda Pharmaceutical Company Limited received the approval from Vietnam’s Ministry of Health for their dengue vaccine.
• December 2023: Bidiphar inaugurated a new manufacturing plant for anti-cancer drug production in Binh Dinh Province, Vietnam

REPORT COVERAGE

The Vietnam pharmaceuticals market report provides a detailed analysis of the market. This report examines Vietnam’s pharmaceutical market dynamics and highlight key industry activities, including mergers and acquisitions. The Vietnam pharmaceuticals market analysis also provides data on the prevalence of key chronic diseases in the country and with reviews on the pipeline of upcoming drugs and vaccines. Additionally, it covers new product introductions, reimbursement frameworks, and regulatory developments. Along with this, the report also offers insights into the latest Vietnam’s pharmaceutical industry trends and the impact of various factors on the demand for pharmaceuticals.

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Report Scope & Segmentation