Vietnam is the fourth most populous country in the Far East. It has long been pursued by international pharmaceutical firms as an important growth market.
Since Vietnam began opening its markets to foreign trade and business in the early 1990s, nearly all world's leading pharmaceutical suppliers have established direct representations in the country.
The lack of a sophisticated local manufacturing base leads to a strong import market, with imported drugs accounting for 91% of the market in value terms.
There are about 900 healthcare entities with approximately 190,000 beds across the whole country, classified as hospitals, institutes and district health centres. Nearly all hospitals are state owned and this plays a crucial role in the diagnosis and dispensing trend in the country.
Pharmacy outlets are estimated to account for approximately 55-60% of the total pharmaceutical market and constitute the single most important sector of the market. Nearly 50% of the Vietnam pharmacies are located in the key urban markets of Ho Chi Minh city and Hanoi. Pharmacy staff are playing increasingly crucial roles in education, promoting and prescribing of pharmaceutical products.
