Press release
Aging Population, Digitization and Rising Adoption of E-Pharmacies to Drive the Growth of Pharmacy Retail Industry in Vietnam: Ken Research
In September 2020, the Ministry of Health launched a Telemedicine platform to provide remote consultation & treatment, linking over 1,000 health facilities and connecting 27 upper-tier hospitals with other lower-tier ones.
The Drug Administration of Vietnam under the Ministry of Health recently launched an online database of approved drugs, pharmaceutical producers and distributors, as well as licensed pharmacists/pharmacies in Vietnam allow public to easily look up drugs’ information, including their quality and prices.
Domination of Unorganized Pharmacies: Majority of pharmacies in Vietnam are unorganized or standalone. These pharmacies are located in almost every corner and in convenient locations near residential areas, hospitals and shopping complexes among others. Consumers have a tendency to prefer these pharmacies as they are very accessible. In the future also, unorganized pharmacies are expected to dominate the industry.
Growth of E-Pharmacies: Pharmacy chain such as Pharmacity, Long Chau & Phano Pharmacy have all ventured into hybrid pharmacy model and launched their official online websites & mobile apps to enable customers to buy products from the convenience of their home. Value added services offered such as online consultation with pharmacist, uploading prescription, storing medical records, BMI calculator, etc are stimulating the adoption of e-pharmacies in the country, especially in the major provinces including Ho Chi Minh, Hanoi and Da Nang.
Geographical Expansion: Pharmacy chains are expected to shift their focus from southern region, particularly Ho Chi Minh City, and expand their store network in northern and central provinces such as Hanoi, Da Nang, Thua Thien Hue, Quang Nam, Ha Tay, Vinh Phuc, Quang Ninh & more to establish a strong brand name.
For More Information on the research report, refer to below link:-
https://www.kenresearch.com/healthcare/pharmaceuticals/vietnam-pharmacy-retail-market-outlook-to-2025/392370-91.html
Analysts at Ken Research in their latest publication “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)” observed that there has been a surge in the number of pharmacy retail chains in Vietnam in the recent years with electronic giants such as FPT & Mobile World Group entering the pharmaceutical retail industry. Rapid store expansion by these players and rising drug spending has contributed to the growth of the market. The Pharmacy Retail Industry in Vietnam is expected to grow at a CAGR of 8.1% on the basis of revenue and 4.6%on the basis of number of pharmacies over the forecast period 2019-2025.
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
Related Reports:-
https://www.kenresearch.com/healthcare/pharmaceuticals/taiwan-pharmacy-retail-market-outlook-to-2025/384702-91.html
https://www.kenresearch.com/healthcare/pharmaceuticals/philippines-pharmacy-retail-market-outlook-to-2025/353093-91.html
https://www.kenresearch.com/healthcare/pharmaceuticals/thailand-pharmacy-retail-market-outlook-to-2025/384701-91.html
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
Ken Research Pvt. Ltd.,
Unit 14, Tower B3, Spaze I Tech Business Park, Sohna Road, sector 49 Gurgaon, Haryana - 122001, India
Ken Research is a Global aggregator and publisher of Market intelligence, equity and economy reports. Ken Research provides business intelligence and operational advisory in 300+ verticals underscoring disruptive technologies, emerging business models with precedent analysis and success case studies. Serving over 70% of fortune 500 companies globally, some of top consulting companies and Market leaders seek Ken Research’s intelligence to identify new revenue streams, customer/ vendor paradigm and pain points and due diligence on competition.
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