Vietnam’s pharmaceutical industry is experiencing robust growth, with its market size projected to reach $10 billion by 2026, up from USD 2.7 billion in 2015 and USD 7 billion in 2025. This expansion is driven by favorable policies, increasing healthcare demand, and significant investments in manufacturing and research infrastructure.
The country boasts over 238 drug manufacturing facilities meeting WHO-GMP standards and 17 facilities adhering to EU-GMP standards. Additionally, Vietnam has a vast distribution network comprising more than 5,000 pharmaceutical wholesalers and over 62,000 retailers. In 2024, pharmaceutical imports totaled nearly USD 4.4 billion, marking a 27.9% increase compared to the previous year, with major suppliers including France, the U.S., Germany, and India.
With a population exceeding 100 million and healthcare spending increasing 8.7-fold over the past three decades, Vietnam is attracting international pharmaceutical corporations. Experts anticipate continued investment due to the country’s skilled workforce, improved infrastructure, and transparent regulatory environment.
The National Strategy for the Development of Vietnam’s Pharmaceutical Industry until 2030, with a vision to 2045, aims to elevate the industry to regional standards. Key objectives include ensuring affordable access to medicines, enhancing research capabilities, and adopting technologies to produce originator drugs and modern dosage forms. Vietnam also aspires to become a contract manufacturing hub and a center for technology transfers within ASEAN, aiming to achieve Level 4 classification under WHO standards.
Furthermore, the EU-Vietnam Free Trade Agreement (EVFTA) is providing significant benefits for European pharmaceutical companies, with 51% of EU pharmaceuticals now tariff-free. This facilitates easier entry into Vietnam’s market, particularly in public hospitals, which account for 65% of the industry’s revenue.
(Source: VNEconomy)
