Vietnam Pharmacy Retail Market: Current Analysis and Forecast (2025-2033)

Vietnam Pharmacy Retail Market Size & Forecast

The Vietnam Pharmacy Retail Market was valued at USD ~8,321 million in 2024 and is expected to grow to a strong CAGR of around 8.18% during the forecast period (2025-2033F), owing to the growing surge in middle-class income and preventive healthcare adoption, which fuels demand for supplements and OTC drugs.

 Vietnam Pharmacy Retail Market Analysis

Retailing of pharmaceutical products refers to the distribution and sale of pharmaceutical products and healthcare products (through organized chains, independent stores, or via the internet). The sector aims for healthier, controlled, and convenient access to medicines, inclusive of the use of technology solutions for healthier inventory management and engagement between customers and healthcare services.

The key pharmacy retail players in the Vietnamese market are utilizing various methods to drive growth, including the rapid expansion of organized chain stores, integrating digital commerce channels, and introducing a digital-enabled healthcare model, such as online consultations and e-prescriptions. Adding to this, rising customer loyalty programs, automated inventory control powered by Artificial Intelligence, as well as mobile applications to further enhance the customer experience. Moreover, companies are also exploring franchising options and strategic alliances with healthcare providers to expand the market.

On June 6, 2025, FPT Corporation and Pharma Group, Vietnam jointly hosted the Healthcare Innovation Forum - HIF 2025. The event served as a multi-stakeholder dialogue platform with a spotlight on breakthrough innovations in science, technology, strengthen the pharmaceutical sector, and AI to accelerate healthcare advancements and drive digital transformation in public health services.

Vietnam Pharmacy Retail Market Trends

This section discusses the key market trends that are influencing the various segments of the Vietnam Pharmacy Retail market, as found by our team of research experts.

Integration of Omnichannel Retailing

The Vietnamese pharmacy retail market is quickly shifting towards an omnichannel retail infrastructure, where the combination of stores and websites aims at addressing the changing consumer demands. The top chains such as Pharmacity and Long Chau have introduced mobile applications and E-commerce sites where home delivery, click-and-collect, and loyalty programs are provided. This integration increases convenience, customer retention, and helps chains in competing with other independent pharmacies. The increasing number of smartphone users and the increased confidence in online transactions are making the omnichannel strategies an important trend that will determine the future of pharmacy stores in Vietnam.

Vietnam Pharmacy Retail Industry Segmentation

This section provides an analysis of the key trends in each segment of the Vietnam Pharmacy Retail Market report, along with forecasts at the regional and provincial levels for 2025-2033.

The prescription drugs market held a significant market share in 2024.

Based on the product type, the market is segmented into prescription drugs, over-the-counter drugs, health supplements, personal care & medical devices, and others. Among these, the prescription drugs segment held a significant market share in 2024, driven by continued revenue growth from both independent and chain pharmacies. The increase in prevalence of chronic illnesses like diabetes, hypertension, and other cardiovascular disorders has increased the number of prescriptions, which stimulates the traffic of people to pharmacies. The rising number of visits to physicians and government efforts to encourage the use of prescription drugs also contribute to growth, making them the leading force behind the development of coordinated retail forms, as well as driving expansion trends. On July 7, 2025, the Ministry of Health of Vietnam announced an extended deadline, requiring all hospitals nationwide to switch to using electronic prescriptions (e-prescriptions) by October 1, marking the third extension of the requirement and resulting in further prolonged delays. The requirement is included in a new circular that contains regulations of outpatient treatment prescriptions and the use of chemical drugs and biologicals, and came into force on July 1, 2025. According to the circular, hospitals must fully implement the e-prescribing system by October 1, 2025, and other healthcare institutions, including clinics and individual practices, by January 1, 2026.

The cardiovascular market held a significant share of the market in 2024.

Based on the target customer, the market is segmented into cardiovascular, pain relief/analgesics, vitamins/minerals/nutrients, anti-infective, anti-diabetic, and others. Among these, the cardiovascular held a significant share of the market in 2024. Vietnam is experiencing an increasing pressure on cardiovascular diseases, which prompts the use of long-term treatment, especially for hypertension and cholesterol. This section ensures repeat purchases are consistent, facilitating increased pharmacy sales and enabling loyalty programs and health solution bundles. Moreover, companies that emerge in this treatment gain a competitive advantage by partnering with doctors and providing comprehensive chronic care plans, thereby fostering a continuous increase in revenue. On July 5, 2025, the 108 Military Central Hospital and Germany’s Hannover Medical School (MHH) stepped up cooperation in high-quality cardiovascular human resources training and clinical trials of advanced medical technologies at the Vietnamese hospital, while moving towards comprehensive collaboration under a long-term agreement recently signed in Hannover city.

Southern Vietnam Leads the Market.

The dominant pharmacy retail region remains Southern Vietnam, with Ho Chi Minh City serving as the leading gateway. The population is much more densely settled compared to the rest of the country, and the level of income is higher due to the developed logistics system. This region is the epicenter of most organized pharmacy chains, thus becoming a proving ground for Digital health solutions, e-pharmacy adoption, and more. Moreover, the high popularity of modern retail among general consumers, coupled with the expansive growth sought by major players such as Pharmacity, Long Chau, and An Khang, has made the south the center of pharmacy retail in Vietnam. On November 13, 2023, Pharmacity partnered with Fundiin to introduce a Buy Now Pay Later (BNPL) solution, marking a significant step toward financial flexibility for consumers. With nearly 1,000 outlets, Pharmacity’s integration of BNPL not only boosts affordability but also builds trust, offering interest-free pay-later options.

Vietnam Pharmacy Retail Industry Competitive Landscape

The Vietnam Pharmacy Retail market is competitive, with several global and international market players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, and mergers and acquisitions.

Top Vietnam Pharmacy Retail Companies

Some of the major players in the market are FPT Long Chau Pharmaceutical Joint Stock Company, Pharmacity Pharmaceutical Joint Stock Company, An Khang Pharmacy (Mobile World Group), Trung Son Alpha Company Limited (Dongwha Pharm), ABC Pharmacy, ECO Pharma, DHG Pharmaceutical Joint Stock Company, Guardian (LIEN A CHAU TRADING AND INVESTMENT COMPANY LIMITED), Phano Pharmacy, MEDiCARE.

Recent Developments in the Vietnam Pharmacy Retail Market

• On July 17, 2025, GC Biopharma, a South Korean pharmaceutical company, announced that its varicella vaccine BARYCELA has received marketing authorization from the Drug Administration of Vietnam (DAV). Following domestic approval in 2020 and WHO Pre-Qualification (PQ) in 2023, GC Biopharma has been accelerating individual country registrations as part of its dual-track strategy—pursuing both global procurement channels and direct market entry initiatives.

• On February 16, 2022, Pharmacity, the leading retail pharmacy chain in Vietnam, announced that it has formed a strategic partnership with RELEX Solutions, a leading provider of cutting-edge retail optimization software. Pharmacity invested USD 4 million in RELEX’s forecasting and replenishment software, which will enable Pharmacity to anticipate product demand and optimize inventory to give customers the essential products they need across Pharmacity’s stores and online channels nationwide.

Vietnam Pharmacy Retail Market Report Coverage

Reasons to Buy the Vietnam Pharmacy Retail Market Report:

• The study includes market sizing and forecasting analysis confirmed by authenticated key industry experts.

• The report briefly reviews overall industry performance at a glance.

• The report covers an in-depth analysis of prominent industry peers, primarily focusing on key business financials, type portfolios, expansion strategies, and recent developments.

• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.

• The study comprehensively covers the market across different segments.

• Deep dive regional-level analysis of the industry.

Customization Options:

The Vietnam Pharmacy Retail market can further be customized as per the requirements or any other market segment. Besides this, UnivDatos understands that you may have your own business needs; hence, feel free to contact us to get a report that completely suits your requirements.