Vietnam’s pharmaceutical sector, encompassing drugs, pharmaceutical chemicals, and materials, recorded consistent growth in October. Vietnam’s industrial production index data found a 2.1 percent increase in output from September 2024, reflecting steady monthly progress.
Year-over-year, the sector grew by 5.9 percent compared to October 2023, while the cumulative increase from January to October was 9.8 percent over the same period last year. These figures highlight the sector’s sustained expansion, which aligns with Vietnam’s focus on its healthcare infrastructure and localising pharmaceutical production to reduce reliance on imports.
The growth in Vietnam’s pharmaceutical industry is supported by policies favouring domestic production and rising healthcare needs across the country. However, maintaining this momentum may require increased investment in research and development, as well as improvements in manufacturing standards to meet both domestic and export market requirements.
See also: Vietnam’s Pharmaceuticals Industry