Vietnam Pharmacy Retails Market to Grow Due to Technological Advancement until 2026 | TechSci Research

Evolving trend of online shopping is driving the growth of Vietnam Pharmacy Retails Market, in the forecast period, 2022-2026.

According to TechSci report on, “Vietnam Pharmacy Retails Market By Market Structure (Organized v/s Unorganized), By Product Type (Prescribed Drugs, Over-the-Counter Products, Non-Pharmaceutical Products, Medical Equipment), By Therapeutic Area (Cardiovascular, Anti-Diabetic, Pain Relief/Analgesics, Vitamins/Minerals/Nutrients, Anti-Infective, Others), By Drug Type (Generic v/s Patented), By Pharmacy Location (Street/Mall Based v/s Hospital Based), By Region, Competition Forecast & Opportunities, 2026”, Vietnam pharmacy retails market has shown promising growth in historical years until 2019 and is expected to continue its growth in upcoming forecast years 2021 to 2026. Vietnam pharmacy retails market owes its growth to the factors like government aid toward provision of proper allotment of public funds and resources so that new market players may enter the market with convenience.

Moreover, high economic growth of the country and the increased personal income is also influencing the growth of the Vietnam pharmacy retail market in the upcoming five years. Additionally, rising population of the country along with the rapid urbanization is driving the growth of the Vietnam pharmacy retail market in the next five years. Also, increasing number of geriatric populations is surging the demand for the increased number of pharmacy retail in their local areas and thus driving the growth of the Vietnam pharmacy retail market in the future five years. Higher living standards of the population is stimulating the aggregate consumption of pharmaceutical products and further substantiating the growth of the Vietnam pharmacy retails market in the forecast period until 2026.

Although consumption behavior of the middle-class and upper-class patients who are actively inclined toward purchasing drugs from private pharmacies that are not connected with public service delivery, or health insurance system is impacting the growth of the Vietnam pharmacy retails market in future.

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The Vietnam pharmacy retail market segmentation is based on market structure, product type, therapeutic area, drug type, pharmacy location, competitive landscape, and regional distribution. Based on product type, the market is further bifurcated into prescribed drugs, over-the-counter products, non-pharmaceutical products, and medical equipment. Over the counter drugs and products are anticipated to hold the largest revenue shares of the market and dominate the market segment on the account of ease of accessibility of the products for the consumer. Prescribed drugs are also expected to register a significant growth in the future five years on the backbone of investment and government initiatives and insurances claim is anticipated to further support the growth of the Vietnam pharmacy retail market in the future forecast period.

Holding major shares of the Vietnam pharmacy retails market are Long Chau & Phano Pharmacy, Pharmacity, Medicare, Phano Pharmacy, Mobile World Group (An Khang Pharmacy), My Chau Pharmacy, ECO Pharmaceuticals, VinFa (Vingroup), Ku. Dos Pharmaceutical Joint Stock Company, SK Pharmacy Group, among others. With the evolving technology, it is appropriate to say that the effective research and development of the technologically advanced pharmacy retails and methods to satisfy consumer demands would support the market growth and benefit the market players as well as the consumers. New market players may focus on the research and development to provide such infrastructure and services that satisfies the consumer demand as well as benefits the market players in building their brand value. Other competitive strategies include mergers & acquisitions and new product developments.

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“Vietnam healthcare sector is growing in the recent years and the services are effectively aiding the patients in the country as well as the patient visiting the country for medical tourism. Additionally, the government is actively working to improve the healthcare facility for the patient and provisions of pharmacy retails, infrastructure upgrades, reimbursement facilities and liberation of rules regarding insurance facilities in healthcare centers is further driving the growth of the healthcare sector and thus supporting the growth of the Vietnam pharmacy retail market in the upcoming five years. New market players entering the market must focus on the investment in research and development for the hospital amenities, medical devices, etc. that are often required. Availability of the wider range of the pharmaceutical products along with the FMCG related products would support their future brand establishment,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Vietnam Pharmacy Retails Market By Market Structure (Organized v/s Unorganized), By Product Type (Prescribed Drugs, Over-the-Counter Products, Non-Pharmaceutical Products, Medical Equipment), By Therapeutic Area (Cardiovascular, Anti-Diabetic, Pain Relief/Analgesics, Vitamins/Minerals/Nutrients, Anti-Infective, Others), By Drug Type (Generic v/s Patented), By Pharmacy Location (Street/Mall Based v/s Hospital Based), By Region, Competition Forecast & Opportunities, 2026” has evaluated the future growth potential of Vietnam pharmacy retails market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Vietnam pharmacy retails market.

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