Pharmaceuticals - Vietnam

  • Vietnam
  • In 2024, the projected revenue in Vietnam's Pharmaceuticals market is estimated to reach US$2,244.00m.
  • The largest market in Vietnam's Pharmaceuticals market is Oncology Drugs, with a projected market volume of US$403.30m in 2024.
  • It is expected that the revenue will experience an annual growth rate (CAGR 2024-2028) of 6.53%, leading to a market volume of US$2,890.00m by 2028.
  • When compared globally, United States is expected to generate the highest revenue, reaching US$636.90bn in 2024.
  • Vietnam's pharmaceutical market is experiencing rapid growth due to increasing demand for healthcare services and a growing middle class.

Key regions: United States, China, Germany, Japan, Europe

Region comparison

Analyst Opinion

Vietnam, a country located in Southeast Asia, has experienced significant economic growth in recent years. With a population of over 97 million people, the country has become an attractive market for various industries, including pharmaceuticals.

Customer preferences:
In Vietnam, customers tend to prioritize affordable and accessible healthcare options. As a result, generic drugs have become increasingly popular, accounting for a significant portion of the pharmaceutical market. Additionally, there is a growing demand for over-the-counter (OTC) drugs, particularly for common ailments such as headaches and colds.

Trends in the market:
The Vietnamese pharmaceutical market has shown steady growth in recent years, with a compound annual growth rate (CAGR) of approximately 10%. This growth is expected to continue as the population ages and the prevalence of chronic diseases increases. Additionally, the government has implemented policies to encourage domestic production of pharmaceuticals, which has led to increased investment in the industry.

Local special circumstances:
One unique aspect of the Vietnamese pharmaceutical market is the prevalence of traditional medicine. Many Vietnamese consumers still prefer traditional remedies, such as herbal medicines, over Western pharmaceuticals. This has led to a growing market for traditional medicine in Vietnam, which is expected to continue in the future.

Underlying macroeconomic factors:
Vietnam's economic growth and increasing middle class have contributed to the growth of the pharmaceutical market. As the population becomes more affluent, they are able to afford better healthcare options, including pharmaceuticals. Additionally, the government has made efforts to improve healthcare infrastructure and increase access to healthcare services, which has also contributed to the growth of the pharmaceutical market.


Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on drug revenues allocated to the country where the money is spent. Monetary values are given at manufacturer price level excluding VAT.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market. As a basis for evaluating markets, we use financial information of the key players by market. Next, we use relevant key market indicators and data from country-specific associations, such as industry associations. This data helps us estimate the market size for each country individually.


In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. The main driver is healthcare expenditure. Expiring patents and new drugs in the pipeline are also considered.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. This market comprises prescription drugs and all OTC drugs covered in the Statista OTC Pharmaceuticals market. However, in the OTC Pharmaceuticals market, revenues are based on end-consumer prices.


  • Revenue
  • Analyst Opinion
  • Key Players
  • Global Comparison
  • Methodology
  • Key Market Indicators
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