VIETNAM'S PHARMACEUTICAL INDUSTRY POISED TO REACH 10 BILLION USD BY 2026

Vietnam's pharmaceutical industry is experiencing impressive growth, with the market value projected to reach 10 billion USD by 2026. From 2.7 billion USD in 2015 to an estimated 7 billion USD by 2025, the sector has seen a remarkable transformation over the past decade, opening up vast opportunities for both domestic enterprises and international pharmaceutical giants.

Source: vneconomy.vn

Rapid Expansion in Scale and Demand

Vietnam currently hosts over 238 WHO-GMP-certified pharmaceutical manufacturing plants, 17 EU-GMP-certified factories, more than 5,000 wholesale facilities, and over 62,000 retail pharmacies nationwide. With a population nearing 100 million and increasing demand for healthcare services, healthcare spending has surged 8.7 times over the past 30 years.

According to the General Department of Customs, Vietnam’s pharmaceutical import turnover reached nearly 4.4 billion USD in 2024, up 27.9% compared to 2023. Key import markets include:

• France: 572.46 million USD (+31.4%)
• United States: 512.53 million USD (+30.2%)
• Germany: 404.8 million USD (+26.8%)
• India: 335.71 million USD (+22.7%)

Favorable Policies and Integration Drive Investment Momentum

Under the National Strategy for the Development of Vietnam’s Pharmaceutical Industry to 2030, with a Vision to 2045, the Vietnamese Government has outlined ambitious goals, including:

• Elevating the pharmaceutical sector to regional standards
• Ensuring public access to high-quality, affordable medicines
• Promoting the development of original drugs and advanced formulations
• Positioning Vietnam as a hub for the manufacture, outsourcing, and technology transfer of original pharmaceuticals in ASEAN
• Advancing the domestic pharmaceutical industry to Level 4 as classified by WHO

Especially notable is the EVFTA, has unlocked significant potential for EU pharmaceutical companies in Vietnam. With 51% of EU-origin pharmaceutical products now tariff-exempt, these firms can more easily access Vietnam's public hospital system—responsible for 65% of the industry's revenue.

Source: phaply.net.vn

FDI Inflows Surge with Global Pharma Giants

Vietnam’s pharmaceutical market continues to attract strong foreign direct investment (FDI), as leading pharmaceutical corporations establish a growing presence in the country as part of their Asia-Pacific expansion strategy.

For instance:

• BDR (India), one of the largest oncology drug manufacturers in India, opened its representative office in Vietnam in 2022 and now supplies raw materials to several domestic manufacturers.
• On April 4, Biocodex (France) – a global pharmaceutical company specializing in probiotics – launched its local subsidiary in Ho Chi Minh City. Vietnam is Biocodex’s first direct investment destination in Asia-Pacific, highlighting its strategic value. The Vietnamese probiotic market, currently valued at 25 million USD, is projected to triple within five years.
• Mayoly (France), with over 116 years of expertise, also shifted from a commercial partnership to a direct investment by opening its representative office in March 2025—demonstrating its long-term commitment to the Vietnamese market.

Source: voz.vn

Further, at the "Vietnam Pharma in the Digital Era" roundtable held during the World Economic Forum in Davos (January 2025), representatives from AstraZeneca, Roche, Sanofi, Novartis, MSD, Pfizer, Merck, and others expressed strong intentions to increase investment in Vietnam. Priority areas include:

• Clinical research
• Technology transfer
• Expansion of production systems
• Partnerships to Strengthen Public Healthcare Capacity

These commitments reflect not only international investors’ confidence in Vietnam's regulatory environment and production capabilities but also confirm the country’s rising status in the global pharmaceutical supply chain.

PHARMEDI 2025 – Vietnam's Premier Healthcare and Lab Equipment Exhibition

Amidst the industry's rapid growth and foreign investment wave, PHARMEDI 2025 stands out as a must-attend event for businesses in the healthcare and laboratory equipment sectors. Taking place in Vietnam, this exhibition will bring together hundreds of domestic and international companies, offering opportunities to:

• Showcase and launch the latest products and technologies
• Connect with strategic partners and potential clients.
• Stay ahead of market trends and innovations.

? Register now to be part of Vietnam’s largest healthcare exhibition: https://pharmed.vn/exhibitor/application-form