The report titled “Vietnam Pharmacy Retail Market Outlook to
2025-By Market Structure (Organized & Unorganized); By Region (North, South
& Central); By Hospital-based & Street/Mall-based; By Product
Categories (Prescribed, OTC, Non-Pharmaceutical Products & Medical
Equipment); By Therapeutic Areas; and By Product Type (Patented & Generic
Drugs)”provides a
comprehensive analysis of the retail pharmacy operations in Vietnam. The report
covers various aspects including the current healthcare scenario, usage of
contraceptives and family planning, health insurance scenario, supply structure
for pharmacy retail, trends & recent developments, issues & challenges,
SWOT Analysis, BCG Matrix, telemedicine scenario, operating model of pharmacies,
competition scenario & more. The report concludes with future projections
for the industry including market revenue by 2025, market segmentations, Covid-19
impact and analysts’ recommendations for existing players & new entrants.
Vietnam
Pharmacy Retail Market Overview and Size
The Vietnam Pharmacy Retail Market is in growing stage with increasing
healthcare awareness due to growth of ageing population and rising per capita
drug expenditure.
The rising cases of non-communicable diseases have also contributed to
the growth in the demand for drugs across various therapeutic classes. In
recent years, chain pharmacy stores have been increasing their presence by
opening new stores in different provinces. Government initiatives such as
launching of a national medicine database as well as telemedicine platform are
also positively impacted the industry. Vietnam Pharmacy Retail Market witnessed
a revenue growth of 6.8% during 2014-2019 and CAGR of 8.7% basis number of
pharmacies.
Vietnam
Pharmacy Retail Market Segmentations
By Market Structure: The Vietnam Pharmacy
Retail Market is dominated by the presence of Unorganized Pharmacies in the
term of number of stores as well as revenue. The customers prefer to purchase
prescribed medicines from unorganized pharmacies as majority of these
pharmacies as these are easily accessible and located on every corner. The
organized pharmacies are offering services such as in store consultation, wide
product assortments, special discounts and offers for members and other value
added services for attracting customers.
By Region: The 63 provinces of Vietnam
can be broadly divided into three regions: Northern, Southern & Central. Currently,
the southern region, particularly Ho Chi Minh & neighboring provinces are
home of maximum number of pharmacies in the country & also contribute the
highest revenue. Ho Chi Minh alone has ~6,000 pharmacies in 2019.
By Type of Sales: Prescribed Medicines
were the most selling category in the overall market in 2019. This is mostly
due to the demand for maintenance medicines by the ageing population. The
organized pharmacies are focusing on selling more non pharmaceutical products
such as beauty & FMCG as well as medical equipment, as they help in
increasing the store profitability.
By Location of
Pharmacy: On the basis of number of pharmacies, majority of the pharmacies were
observed to be located in streets, malls, shopping complexes, etc. Residential
areas, busy streets near hospitals are most preferred locations for setting up
pharmacies. The number of private pharmacies located inside hospital premises
accounted for a very small percentage of the total number of pharmacies in
Vietnam.
By Type of Drug: Generic drugs
contributed majority of the revenue of the pharmacy retail industry in Vietnam
in 2019. This has been due to the fact that generics are more affordable &
accessible to a large section of the society which falls under low to medium
income category. Patented medicines are generally prescribed by international
hospitals & clinics. Most pharmacies in Vietnam offer a mix of Patented Medicines
and Generic Medicines.
By Therapeutic Class: The medicines sold in
Vietnam can be classified in different therapeutic classes such as
cardiovascular, pain/analgesics, anti-infective, anti-diabetic, vitamins,
minerals and nutrients, respiratory, and others on the basis of the type of
disease they are used to cure. The cardiovascular drugs have highest demand in
the region due to the ageing population. Rising cases of non-communicable
diseases such as diabetes & respiratory diseases have also lead to an increase
in demand for these drugs.
Competitive
Landscape in the Vietnam Pharmacy Retail Market
The Vietnam Pharmacy Retail Market has
presence of ~62,500 pharmacies as of 2019. The top five pharmacy chains on the
basis of number of stores are Pharmacity, Long Chau, Guardian, Medicare and
Phano Pharmacy as of November 2020. The competition in market is highly fragmented,
with pharmacy chains accounting for a very small percentage of the total
industry revenue as well as total number of stores. The organized chains are trying
to establish a strong presence in the market by rapidly expanding their store
network, offering various services such as integrating stores with latest
technologies for better in-store experience, membership programs & loyalty
schemes, special promotion offers and discounts, delivery services and more.
Vietnam Pharmacy
Retail Market Future Outlook & Projections: The industry is expected to witness a CAGR
of 8.1% on the basis of revenue by 2025. Fast growing aging population is
projected to positively impact the industry with median age in the country
expected to hit 42.1 years by 2050. Pharmacy chains are expected to increase
their presence in the future by opening new stores in the northern and central
regions or acquiring small independent stores or regional chains. Seeing the
opportunity in the country, pharmacy chains having large presence in South East
Asia including Matsumoto Kiyoshi & Watsons have recently entered the market
and more players are expected to enter into the industry and expand their
presence.
Vietnam
Pharmacy Retail Market (Basis Revenue and Number of Pharmacies):-
Vietnam
Pharmacy Retail Market Segmentations (On the basis of Sales Volume)
By Market Structure
(On the basis of Revenue and Number of Pharmacies)
Organized Market
Unorganized Market
By Product Category
(On the basis of Revenue)
Prescribed Drugs
Over-the-Counter
Products
Non-Pharmaceutical
Products
Medical Equipment
By Region (On the
basis of Revenue & Number of Pharmacies)
North
Central
South
By Therapeutic Areas (On
the basis of Revenue)
Cardiovascular
Anti-Diabetic
Pain Relief/Analgesics
Vitamins/Minerals/Nutrients
Anti-Infective
Respiratory
Gastrointestinal
Neuro
Gynecology
Others
By Drug Type (On the
basis of Revenue)
Generics
Patented
By Location (On the
basis of Number of Pharmacies)
Street/Mall Based
Hospital Based
Pharmacy Retail Chains Covered:-
Pharmacity
Long Chau
Guardian
Medicare
Phano Pharmacy
An Khang
Trung Son
VinFa
Eco Pharmacy
My Chau
SK Plus Pharmacy
Key Target Audience:-
Pharmaceutical Manufacturing Companies
Pharmacy Retail Companies
Independent Pharmacies
Industry Associations
Government and Regulatory Bodies
Telemedicine Companies
Pharmaceutical Distributors & Wholesalers
Time Period Captured in the Report:-
Historical Period: 2014-2019
Forecast Period: 2020-2025
Key Topics Covered in the Report:-
Overview and Genesis of Vietnam Pharmacy
Retail Industry
Vietnam Demographics,
Healthcare Overview & Health Statistics
Usage of Contraception
& Family Planning Practices in Vietnam
Health Insurance
Scenario
Trends and Growth Drivers in the Industry and
Challenges Faced
Vietnam Pharmacy Retail Market Size and
Segmentations, 2014-2019
Telemedicine & Growth of Hybrid Pharmacies
Customer Decision Making Parameters &
Brand Perception Mapping
Industry SWOT Analysis and BCG Matrix
Cross Comparisons between Pharmacy Retail
Chains and Company Profiles
Future Market Size and Segmentations, 2020-2025F
Covid-19 Impact on the Industry, Future Trends
& the Way Forward
Analysts’ Recommendations
For More Information on
the research report, refer to below link:-
Vietnam Pharmacy Retail Market
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Reports:-
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