Vietnam Pharmaceutical Industry Outlook – Vietnam Trade Data

28 June 2021
Vietnam Export Data

Vietnam’s pharmaceutical market is likely to get a major boost over the long term as the country continues to improve the healthcare system through the implementation of its health insurance scheme. According to market research reports, drug market of Vietnam is forecasted to grow by 15% in 2021. The pharmaceutical industry grew by just 2.8% in 2020, lower than its average 11.8% growth in the last five years. Let’s analyze overall picture of Vietnam’s pharma sector.


The pharmaceutical industry in Vietnam is slowly recovering from Covid-19 pandemic, which is a great challenge for the entire population. The present scenario shows the healthcare target is the main goal and an essential expenditure for the Vietnamese people. Demand for medicines will only be temporarily delayed in the short term and will gradually recover.


Vietnam Pharma Exports Quarterly


According to Export Genius Vietnam export data, Vietnam exported pharma products worth USD 185 million in 2019 and USD 177 million in 2020. Below given chart shows value in percentile of Vietnam’s pharma exports recorded from Q1 of 2020 to Q1 of 2021.



Quarter

Value USD %

Jan-Mar 2020

18.7

Apr-Jun 2020

22

Jul-Sep 2020

22.2

Oct-Dec 2020

20.5

Jan-Mar 2021

16

 


List of Major Vietnamese Pharmaceutical Companies


Duoc Hau Giang (DHG) is one of the largest pharmaceutical companies in Vietnam and is engaged in the manufacturing and selling over-the-counter (OTC) medicines. Here is a list of major pharmaceutical companies in Vietnam.


                ·         Duoc Hau Giang Pharma

                ·         Pymepharco

                ·         Traphaco

                ·         Domesco

                ·         Imexpharm

                ·         Binh Dinh Pharma


Also, if you want to know market share of these companies and get more Vietnamese exporters of pharma products, get complete Vietnam export data of pharmaceutical products with shipping details. Our Vietnam customs data covers a wide range of fields including HS Code, Product Description, Importer, Exporter, Port, Foreign Country, Value, Quantity, Transport Mode and so on. Access authentic Vietnam shipment data that you need to take your business across borders.


Vietnam’s Top 10 Export Partners of Pharmaceutical Products 2020


Vietnam’s top export partner of pharmaceutical product is Japan with a share of 23.7% recorded in 2020. As per Vietnam trade data, Vietnam’s top 10 export partners of pharma products accounted for 75.3% to overall value of shipments reported in 2020.



Country

Value USD %

Japan

23.7

Cambodia

10.1

Cyprus

8.4

Philippines

8

Myanmar

6.6

United States

4.8

China

4.3

Germany

3.6

Malaysia

3.1

Bulgaria

2.7

 


Talking about growth, a number of large pharma companies have increasingly invested in R&D activities to develop patent drugs that also improve the quality of generic products. But of course, they can face challenges due to differences in culture and business environment. Overall, Vietnam is progressing in pharmaceutical industry and companies can definitely explore great business opportunities. 

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