Vietnam Pharmacy Retail Market Seen Soaring ~8.18% Growth to Reach USD Million by 2033, Projects UnivDatos

Key Highlights of the Report:

• South Vietnam remains a leader in revenue terms, as it contains most of the urban population and has strong purchasing power, whereas Northern Vietnam shows striking growth trends, along with an increase in the number of modern pharmacy chains.

• Prescription drugs remain the major product category, but health supplements and OTC products are experiencing the highest growth due to the increasing trend towards preventive healthcare.

• Key players, such as FPT Long Chu, Pharmacity, and An Khang, are aggressively expanding through the use of outlet networks, digital adoption, and strategic alliances; however, independent pharmacies also maintain solid coverage in rural areas.

• Firms are rapidly investing in digital activities, such as e-pharmacy online stores, Buy Now Pay Later digital services, brand loyalty programs, and inventory management systems utilizing artificial intelligence, to drive consumer experience and market penetration.

According to a new report by UnivDatos, the Vietnam Pharmacy Retail Market is expected to reach USD Million in 2033 by growing at a CAGR of 8.18% during the forecast period (2025-2033F). The increasing awareness of healthcare, the growing prevalence of chronic diseases, and the ability of consumers to trust branded pharmacies and their quality standards are driving it. According to GLOBOCAN 2022, Vietnam reported 180,480 new cancer cases and over 120,000 deaths. The country ranks 20th in Asia for cancer incidence and 101st globally. In men, the most common cancers are liver cancer (19.7%), lung cancer (17.7%), and stomach cancer (11%). The increasing middle-class income, combined with the current use of preventive health measures, creates demand for supplements and over-the-counter medications. The market is also consolidating, but digital transformation, coupled with government efforts to regulate pharmacies, is driving the market. The growth of organized retail is also aided by urbanization and changing lifestyle patterns.

Driver: Rising Healthcare Awareness

The pharmacy retail market in Vietnam is significantly driven by increased healthcare awareness as people are increasingly conscious about preventive care and general health. The rising awareness of chronic ailments, nutritious food, and health supplements has enhanced the demand for prescription drugs, OTC drugs, and supplements. This consciousness is further enhanced by the internet health movement, social media influence, and government awareness activities that encourage individuals to undergo regular health tests. This has led to consumers moving into more familiar pharmacy chains where quality can be assured, a professional opinion obtained, and convenient access to a wide variety of products, and this has fueled the expansion of the organized retail formats.

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• The Ministry of Health on April 14, 2025, held a ceremony in Hanoi to announce that Vietnam has officially eliminated trachoma, one of the leading preventable causes of blindness, as a public health problem. The country is now among 21 nations recognized for successfully achieving this milestone.

• The International Organization for Migration (IOM) and the Ministry of Health (MOH) of Viet Nam strengthened their collaboration to enhance cooperation in promoting the health and well-being of migrants and promoting their inclusion in national health systems and policies through a new Memorandum of Understanding (MoU) signed on 18 September 2024.

According to the report, the impact of Pharmacy Retail has been identified as high in the Northern Vietnam region. Some of how this impact has been felt include:

Northern Vietnam is expected to grow with a significant CAGR during the forecast period (2025-2033), due to the high rate of urbanization in Hanoi and its neighbouring provinces, increased healthcare awareness, and the expanding middle-class population. The government's interest in enhancing the structure of healthcare and implementing stricter measures regarding pharmacy control is facilitating the adoption of organized retail. Moreover, chain pharmacies are particularly moving into the region in an attempt to reduce their reliance on common independent retailers to meet unfulfilled demand. This trend represents a significant shift towards branded stores and the digitalization of the pharmacy industry.

Key Offerings of the Report

Market Size, Trends, & Forecast by Revenue | 2025−2033.

Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities

Market Segmentation – A detailed analysis By Product type, By Pharmacy Type, By Target Customer, By Region

Competitive Landscape – Top Key Vendors and Other Prominent Vendors