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 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
Related Reports:-
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
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