Vietnam’s pharmaceuticals industry is poised for significant growth, driven by rising healthcare demands, increasing government support, and a growing middle class with heightened health awareness.
The country has made substantial investments in its healthcare infrastructure, including the establishment of modern hospitals and clinics, which, in turn, boosts the demand for pharmaceutical products.
As the population ages and chronic diseases become more prevalent, the need for effective medications and healthcare solutions is more critical than ever.
Vietnam has been actively promoting the local pharmaceutical sector through favourable policies aimed at enhancing production capabilities and encouraging research and development.
Initiatives such as the National Drug Policy emphasise the importance of pharmaceutical manufacturing in Vietnam to reduce dependence on imported medicines.
This strategy is further supported by partnerships between local companies and foreign pharmaceutical firms, facilitating technology transfer and innovation in drug development.
In addition, the rise of health-conscious consumers has also spurred interest in dietary supplements and herbal medicines, further diversifying the market.
As regulatory frameworks evolve to accommodate new types of products, the industry is expected to attract more investment and collaboration, positioning Vietnam as a competitive player in the regional pharmaceuticals landscape.
Vietnam’s pharmaceuticals industry in numbers
In 2024, Vietnam’s pharmaceuticals market is projected to reach revenue of US$2.40 billion.
Leading this sector is the oncology drugs market, which is anticipated to account for US$365.5 million worth of the total revenue.
Looking ahead, the market is expected to experience a steady annual growth rate of 4.25 percent from 2024 to 2029, ultimately reaching US$2.96 billion by 2029.
This growth underscores the increasing demand for pharmaceutical products and advancements in healthcare within the country, according to data collated by Statista.
Vietnam pharmaceuticals industry revenue listed firms
The revenue of Vietnam’s pharmaceuticals industry, particularly among publicly listed companies, has seen steady growth over recent years.
As the country’s healthcare needs expand, listed pharmaceutical firms have been well-positioned to capitalise on rising demand for essential medicines, vaccines, and medical supplies.
Revenue, listed Vietnam pharmaceutical firms, US$m
| 2025 | 2024 | 25 / 24 | |
| Total | 1,018 | 916 | 11.07% |
| Hau Giang Pharmaceuticals | 202.02 | 176.59 | 14.40% |
| Imexpharm Pharmaceuticals | 93.63 | 84.58 | 10.70% |
| Ha Tay Pharmaceuticals | 92.13 | 80.02 | 15.13% |
| Vietnam Pharmaceutical Corporation | 217.17 | 211.79 | 2.54% |
| Binh Dinh Pharmaceutical | 71.54 | 66.26 | 7.97% |
| Traphaco | 102.99 | 89.63 | 14.90% |
| CPC1 Hanoi Pharmaceuticals | 65.01 | 49.60 | 31.06% |
| Domesco Medical Import Export | 79.29 | 72.85 | 8.84% |
| Cuu Long Pharmaceutical | 50.69 | 50.12 | 1.13% |
| OPC Pharmaceutical | 43.07 | 34.68 | 24.21% |
Vietnam pharmaceuticals imports
Vietnam’s pharmaceutical product imports have been steadily increasing, driven by growing demand for healthcare and a rising middle class.
As domestic production focuses largely on generic and traditional medicines, Vietnam relies on imports for specialised drugs, high-tech pharmaceuticals, and raw materials for manufacturing.
Key import partners include countries like India, France, Germany, and the United States.
The pharmaceutical import market is also influenced by global trends, such as the rising costs of healthcare products and increasing regulatory standards.
Vietnam’s government has been working to balance import reliance with boosting domestic production, but imports remain critical to meeting the country’s diverse healthcare needs.
Vietnam pharmaceutical materials imports US$
| 2025 | 2024 | 25 / 24 | |
| Total | 486,628,802 | 480,092,018 | 1.36% |
| Other | 14,032,479 | 12,859,449 | 9.12% |
| China | 369,071,224 | 344,196,285 | 7.23% |
| India | 68,769,916 | 79,531,614 | -13.53% |
| Spain | 6,526,055 | 12,937,125 | -49.56% |
| Italy | 5,842,456 | 9,086,787 | -35.70% |
| South Korea | 4,685,170 | 2,821,310 | 66.06% |
| Switzerland | 4,199,433 | 4,023,148 | 4.38% |
| Germany | 3,941,162 | 5,544,346 | -28.92% |
| France | 2,780,126 | 2,044,420 | 35.99% |
| UK | 1,921,756 | 1,980,587 | -2.97% |
| Singapore | 1,882,756 | 2,649,127 | -28.93% |
| Thailand | 1,636,370 | 2,024,396 | -19.17% |
| Austria | 1,339,899 | 393,424 | 240.57% |
🔍GUIDE: Importing pharmaceuticals into Vietnam
Vietnam is in the midst of a trade boom, with billions of dollars in goods flowing through its ports each month.
For foreign firms, the opportunity to tap into Vietnam’s growing consumer demand and strategic location is clear — but navigating import procedures, licensing, labelling rules, and compliance with local and international regulations can be challenging.
From customs codes to finding the right local partners, success depends on getting the basics right from day one.
Read the full guide: How to Start an Import Business in Vietnam
Vietnam pharmaceutical product imports US$
| 2025 | 2024 | 25 / 24 | |
| Total | 4,295,728,462 | 4,399,432,452 | -2.36% |
| Other | 334,368,921 | 387,886,083 | -13.80% |
| USA | 514,881,923 | 512,534,682 | 0.46% |
| France | 486,174,887 | 572,461,541 | -15.07% |
| Germany | 400,750,662 | 404,802,719 | -1.00% |
| Italy | 307,267,463 | 302,564,405 | 1.55% |
| India | 305,071,681 | 335,706,632 | -9.13% |
| Belgium | 281,197,887 | 202,302,011 | 39.00% |
| Ireland | 224,880,810 | 190,526,394 | 18.03% |
| South Korea | 157,217,852 | 206,114,819 | -23.72% |
| Sweden | 156,703,867 | 113,414,056 | 38.17% |
| Spain | 127,302,191 | 133,417,284 | -4.58% |
| Switzerland | 120,606,721 | 106,121,373 | 13.65% |
| Austria | 102,278,194 | 138,740,577 | -26.28% |
| UK | 94,655,572 | 92,771,565 | 2.03% |
| Netherlands | 91,483,357 | 76,256,900 | 19.97% |
| Thailand | 76,031,057 | 106,338,264 | -28.50% |
| China | 63,103,709 | 60,505,358 | 4.29% |
| Japan | 62,338,671 | 77,304,647 | -19.36% |
| Australia | 47,576,733 | 61,483,901 | -22.62% |
| Poland | 47,325,184 | 47,517,913 | -0.41% |
| Russia | 44,946,664 | 48,802,246 | -7.90% |
| Hungary | 43,500,242 | 42,088,130 | 3.36% |
| Denmark | 28,608,208 | 21,788,350 | 31.30% |
| Cyprus | 27,098,553 | – | – |
| Turkey | 25,625,119 | 19,527,548 | 31.23% |
| Taiwan | 25,408,095 | 34,982,364 | -27.37% |
| Indonesia | 19,423,594 | 20,858,370 | -6.88% |
| Singapore | 15,620,447 | 10,635,313 | 46.87% |
| Canada | 15,415,151 | 16,776,416 | -8.11% |
| Malaysia | 12,455,899 | 13,092,842 | -4.86% |
| Argentina | 10,563,713 | 11,984,800 | -11.86% |
| Bangladesh | 10,165,954 | 18,017,122 | -43.58% |
| Pakistan | 8,733,233 | 10,249,585 | -14.79% |
| Lithuania | 6,209,041 | – | – |
| Philippines | 737,207 | 1,858,242 | -60.33% |
Key players in Vietnam’s pharmaceuticals industry
These key players contribute significantly to the growth and development of Vietnam’s pharmaceuticals industry, fostering innovation, enhancing healthcare access, and ensuring the availability of essential medications for the population.
As the industry continues to evolve, these companies will play a crucial role in shaping the future of healthcare in Vietnam.
Hau Giang Pharmaceuticals (DHG Pharma)
Hau Giang Pharmaceuticals is one of the largest pharmaceutical companies in Vietnam, specialising in the production and distribution of generic drugs.
The company has a strong reputation for quality and focuses on serving both domestic and international markets.
It is known for its research and development in pharmaceutical products aimed at improving public health.
Imexpharm Pharmaceuticals
Imexpharm is a leading Vietnamese pharmaceutical company known for producing high-quality generic medicines.
It has a strong presence in the domestic market and has been expanding into international markets.
The company emphasises research and innovation, with modern production facilities that comply with international standards like GMP.
Ha Tay Pharmaceuticals
Ha Tay Pharmaceuticals is a prominent pharmaceutical company based in the northern region of Vietnam.
The company produces a wide range of pharmaceuticals, including over-the-counter (OTC) drugs, prescription medications, and health supplements, focusing primarily on the local market.
Vietnam Pharmaceutical Corporation (Vinapharm)
Vinapharm is a state-owned enterprise that plays a significant role in Vietnam’s pharmaceutical sector.
It operates through various subsidiaries and partners, focusing on the production, import, and export of pharmaceutical products.
Vinapharm is also involved in research and development to enhance the quality and availability of medicines in the country.
Binh Dinh Pharmaceutical (Bidiphar)
Binh Dinh Pharmaceutical, commonly known as Bidiphar, is a leading pharmaceutical company in central Vietnam.
It specialises in producing a wide range of drugs, including oncology and high-tech pharmaceuticals.
The company is known for its advanced manufacturing capabilities and focus on high-quality, specialised medicines.
Traphaco
Traphaco is one of Vietnam’s largest and most recognised pharmaceutical brands.
It specialises in traditional Vietnamese herbal medicines alongside modern pharmaceuticals.
Traphaco is known for combining modern scientific methods with traditional ingredients to produce effective and safe medicinal products.
CPC1 Hanoi Pharmaceuticals
CPC1 Hanoi Pharmaceuticals is a pharmaceutical company focused on manufacturing and distributing a wide variety of generic medications.
Based in Hanoi, the company serves the domestic market, providing essential drugs to hospitals, clinics, and pharmacies across Vietnam.
Domesco Medical Import Export
Domesco is a major Vietnamese pharmaceutical company, with a strong emphasis on the import and export of medical products.
The company is involved in the production of a variety of pharmaceutical products, including prescription drugs and OTC medications, and is a leader in exporting Vietnamese pharmaceuticals to international markets.
Cuu Long Pharmaceutical
Cuu Long Pharmaceutical is a well-established company in Vietnam, primarily known for producing capsules and injectable medicines.
It operates several modern factories and has a strong presence in both domestic and international markets, particularly in the production of medical devices and pharmaceutical packaging.
OPC Pharmaceutical
OPC Pharmaceutical is known for its focus on herbal and traditional medicines, blending Vietnam’s rich heritage in natural remedies with modern pharmaceutical practices.
The company produces a range of medicinal products aimed at improving overall health and wellness, with a particular focus on natural, plant-based ingredients.
Pharmacy chains in Vietnam
These are some of the most well-known pharmaceutical firms in Vietnam.
Pharmacity
Pharmacity is one of the most prominent pharmacy chains in Vietnam.
Founded in 2011, it has quickly expanded to become the largest player in the country’s pharmaceutical retail market.
Pharmacity offers a wide range of products, including prescription and over-the-counter (OTC) medications, personal care items, health supplements, and wellness products.
The chain is known for its strong presence in urban areas, particularly in Ho Chi Minh City and Hanoi.
Long Châu (FPT Retail)
Long Châu is a fast-growing pharmacy chain that is a subsidiary of FPT Retail, one of Vietnam’s largest electronics retailers.
FPT Retail acquired Long Châu to diversify its business into the healthcare sector, and the chain has since experienced rapid growth.
Long Châu pharmacies are known for offering an extensive range of prescription medications, supplements, and healthcare products.
Phano Pharmacy
Phano Pharmacy is another established pharmacy chain in Vietnam, with roots dating back to 2007. It is well-regarded for its emphasis on high-quality pharmaceutical products and professional customer service.
Phano operates hundreds of stores, primarily concentrated in larger cities such as Ho Chi Minh City and Hanoi.
The chain offers a wide variety of medications, healthcare supplies, and personal care items, along with pharmacist consultations.
Phano’s focus on customer satisfaction and accessibility has helped it maintain a strong presence in the competitive pharmacy market.
Although it does not have the same scale as Pharmacity or Long Châu, Phano remains a trusted brand, particularly among urban consumers looking for reliable pharmaceutical services.
Guardian
Guardian, a part of the Dairy Farm Group, is a health and beauty retailer that also has a strong presence in the Vietnamese pharmaceutical market.
While Guardian is more widely known for its beauty and personal care products, it also offers a range of OTC medications and health supplements.
Guardian operates over 100 stores across major cities in Vietnam, catering to urban consumers with a focus on wellness and beauty.
While it is not a pharmacy chain in the traditional sense, its inclusion of healthcare products makes it an important player in the broader health retail market.
Guardian’s appeal lies in its modern store layouts, accessible locations, and a wide variety of products that appeal to health-conscious consumers.
An Khang Pharmacy (MWG)
An Khang Pharmacy is owned by Mobile World Group (MWG), a major player in Vietnam’s retail sector.
MWG entered the pharmaceutical market with An Khang as part of its strategy to diversify its business.
Since then, An Khang has expanded quickly, with hundreds of stores already in operation and many more planned.
An Khang pharmacies offer a broad selection of pharmaceutical products, including prescription medications, supplements, and medical devices.
Leveraging MWG’s extensive retail expertise, An Khang focuses on providing convenient, affordable healthcare solutions to consumers.
With its rapid expansion, An Khang is positioning itself as a major competitor to larger chains like Pharmacity and Long Châu.
Eco Pharmacy
Eco Pharmacy is a smaller but emerging pharmacy chain in Vietnam.
It focuses on providing a range of pharmaceutical products, including prescription and OTC medications, medical devices, and personal care items.
Although it does not have the same scale as larger players, Eco Pharmacy is growing steadily, with a network of stores primarily located in major urban areas.
The chain is known for offering competitive prices and a customer-friendly shopping experience.
As health awareness continues to rise in Vietnam, Eco Pharmacy is positioning itself as a reliable option for consumers seeking affordable and accessible healthcare products.
Key Vietnam pharmaceutical regulations
Vietnam’s Pharmaceuticals Law, also known as the Law on Pharmacy, is a comprehensive legal framework that regulates the production, distribution, use, and management of pharmaceutical products and activities in Vietnam.
It was enacted by the National Assembly on April 6, 2016, and came into effect on January 1, 2017.
The law aims to ensure the quality, safety, and efficacy of pharmaceutical products and to promote the development of Vietnam’s pharmaceutical industry.
See also: Vietnam’s Pharmaceuticals Law: Overview
Amendments made to the Law on Pharmacy in 2025
These are some key changes made to the Law on Pharmacy in 2025.
Modernising business and distribution models
E-commerce expansion: The law formally recognises online pharmaceutical sales through authorised e-commerce platforms, reflecting the digitalisation of distribution and the growing role of online retail in medicine access.
Pharmacy chains regulation: It explicitly regulates pharmacy chains as a business model and clarifies conditions for their operation, addressing a regulatory gap in the previous framework.
Foreign-invested enterprises (FIEs)
The law clarifies and broadens the rights of FIEs, permitting them to engage more fully in production, import, export, distribution, technology transfer, clinical trials and related activities that were previously restricted or unclear.
Licensing and administrative procedures
Drug registration and licensing processes have been simplified and streamlined, reducing administrative burdens and introducing clearer deadlines and procedures for marketing authorisations and renewals.
Certain provisions aimed at ensuring continuity of supply are introduced, such as allowing continued circulation of drugs during licence renewal under specified conditions.
Price management and transparency
New provisions enhance price transparency, including requirements for manufacturers and importers to notify the Ministry of Health of estimated wholesale prices for prescription medicines and public announcement of prices.
Consumer behaviour in Vietnam’s pharmaceuticals industry
Consumer behaviour in Vietnam’s pharmaceuticals industry is influenced by various factors, reflecting the changing dynamics of health awareness, accessibility, and cultural preferences.
Here are some key trends:
Increased health awareness
As access to information improves and healthcare education expands, Vietnamese consumers are becoming more health-conscious.
This growing awareness has led to increased demand for pharmaceuticals, especially in areas such as chronic disease management, preventative care, and wellness products.
Consumers are more likely to seek out medications and supplements that align with their health goals.
Preference for local products
Many consumers in Vietnam show a preference for locally produced pharmaceuticals, often believing that these products are more tailored to their specific health needs and cultural contexts.
Local companies that emphasise quality and affordability are gaining traction, especially among price-sensitive consumers.
Digital influence
The rise of digital technology is reshaping consumer behaviour in the pharmaceutical sector.
More consumers are using online platforms to research medications, read reviews, and compare prices before making purchases.
E-commerce is increasingly popular for buying over-the-counter medications and health products, making it easier for consumers to access a wider range of options.
Trust and reputation
Trust in pharmaceutical brands is crucial for consumers when selecting products.
Companies that prioritise transparency in their manufacturing processes, adhere to international quality standards, and invest in marketing campaigns that highlight their credibility tend to build stronger customer loyalty.
Word-of-mouth recommendations and social media influence are also significant in shaping consumer perceptions.
Interest in natural and herbal remedies
There is a growing trend toward natural and herbal remedies in Vietnam, driven by traditional medicine practices and an increasing preference for holistic health solutions.
Consumers often seek out herbal supplements and products that are perceived as safer or more effective than conventional pharmaceuticals, reflecting a blend of modern and traditional health practices.
Price sensitivity
While there is a demand for quality pharmaceuticals, many consumers remain price-sensitive, particularly in lower-income segments.
Affordable options and promotional deals significantly influence purchasing decisions.
As a result, generic medications and cost-effective alternatives are often preferred.
These trends highlight the evolving consumer landscape in Vietnam’s pharmaceuticals industry, where health awareness, digital engagement, and cultural preferences are reshaping how consumers approach their healthcare needs.
Understanding these behaviours is essential for companies looking to effectively reach and serve the Vietnamese market.
See also: Healthcare Industry in Vietnam
What’s next?
Vietnam’s pharmaceuticals industry is experiencing robust growth, driven by increasing health awareness, rising demand for medications, and supportive government policies.
With a focus on both traditional and modern healthcare solutions, the market is seeing a shift towards locally produced pharmaceuticals, which are often favoured for their affordability and relevance to local health needs.
Overall, the industry is poised for continued expansion, characterised by innovation, increased investment, and a commitment to improving healthcare access for the Vietnamese population.
With this in mind, to keep abreast of what’s happening in Vietnam’s pharmaceuticals industry, foreign pharmaceuticals industry professionals should make sure to subscribe to the-shiv.
First published September 19, 2024. Last updated February 26, 2026.