Future bright for Vietnamese pharmaceutical market

Vietnam’s medical equipment and pharmaceutical markets have seen double-digit growth in recent years and that momentum would continue, making the country increasingly attractive to foreign investors, experts have said.
Future bright for Vietnamese pharmaceutical market ảnh 1Workers package pharmaceuticals at a factory (Photo: VNA)

HCM City (VNS/VNA)– Vietnam’s medical equipment and pharmaceutical markets have seen double-digitgrowth in recent years and that momentum would continue, making the countryincreasingly attractive to foreign investors, experts have said.

According to Business Monitor International, Vietnam’s health care expenditurewas estimated at 16.1 billion USD in 2017, representing 7.5 percent of its GDP.The figure will grow at 12.5 percent a year to 22.7 billion USD by 2021, itsaid.

It also predicted double-digit growth in the next few years for the medicalequipment and drug markets.

Vo Tan Thanh, Vice Chairman of the Vietnam Chamber of Commerce and Industry(VCCI), said the pharmaceutical industry had seen two-digit growth in recentyears and that would continue until 2022.

“The demand for quality health care is growing every year with rising incomesin Vietnam. Moreover, the changing disease patterns with the inexorableincrease in the elderly population of over 60 years will also contribute togreater healthcare spending in Vietnam.

“Although the domesticpharmaceutical industry has made great progress, it only meets 52.5 percent ofdemand.”

Domestic production consists of mostly generic drugs produced for domesticconsumption and outsourcing for foreign enterprises.

“On average, around 60,000 tonnes of pharmaceutical materials are consumed eachyear, of which 80-90 percent is imported, mainly from China and India.”

Drug imports cost 2.8 billion USD in 2017, up10 percent from 2016, and 3 billion USD last year, he said.

“Therewill be higher demand for affordable medicines as well as sophisticated medicaldevices and equipment.”

Hua Phu Doan, Vice Chairman and General Secretary of the HCM City MedicalEquipment Association, told a recent event the medical equipment market hasbeen growing 18 percent in recent years, with imports accounting for more than90 percent.

Vietnam buys mainly diagnostic imaging equipment such as X-ray, ultrasound,magnetic resonance imaging and computed tomography scanners and equipment usedfor surgery, endoscopy, sterilisation, testing, and medical waste treatment.

The market is expected to grow by over 20 percent annually on the back of Vietnam’shigh economic growth, he said.

Hospitals and clinics will have greater demand for modern medical equipment toreplace obsolete equipment. Besides, there are more hospitals, clinics, andbeauty salons in the pipeline, which will create additional demand for medicaldevices.

K Srikar Reddy, the Indian Consul General to HCM City, said Vietnam is rapidlyemerging as a medical tourism destination in the region.

Last year nearly 15.5 million foreigners visited the country, many for medicaltreatment, and many health care facilities have sprung up to serve theseinternational patients, he said.

Many Indian firms are keen on the Vietnamesemarket and want to develop beneficial long-termbusiness relationships in the pharmaceuticals, medical and hospital sectorswith Vietnamese partners, he said.

To help local professionals keep abreast of new technologies and drugs and foreignexhibitors find distributors and business partners in Vietnam, ADPEX Joint Stock Company has collaboratedwith the Vietnam Pharmaceutical Companies Association and Vietnam MedicalProducts Import – Export Joint Stock Company to organise Pharmed &Healthcare Vietnam expo in HCM City from September 11  to 14.

To be held at the Saigon Exhibition and Convention Centre, Pharmed &Healthcare Vietnam 2019 has attracted exhibitors from countries and territorieswith a developed health care sector like Germany, France, the Czech Republic,Canada, the Republic of Korea, Japan, China, Pakistan, Italy, Singapore,Thailand, Hong Kong and Taiwan.

The exhibition will have 600 booths showcasing a wide range of the latestpharmaceutical products, drug manufacturing and packaging machinery, diagnosticequipment, healthcare and rehabilitation equipment, surgical instruments,dental and ophthalmological and aesthetic equipment and products.

It will also feature a series of conferences and seminars chaired by nationaland international experts.-VNS/VNA
VNA

See more

Assoc. Prof. Dr Nguyen Viet Nhung, Dean of Medicine at University of Medicine and Pharmacy, Vietnam National University (VNU) Hanoi, speaks online on Vietnam’s digital transformation strategy in medical education. (Photo: VNA)

Forum spotlights AI and digital innovation in healthcare

To achieve its goal of becoming a developed nation by 2045, Vietnam is prioritising the integration of AI and digital tools into the training of future doctors, said Assoc. Prof. Dr. Nguyen Viet Nhung, Dean of Medicine at University of Medicine and Pharmacy, Vietnam National University (VNU) Hanoi.

PM Pham Minh Chinh (second from right) visits the Karolinska Institutet. (Photo: VNA)

PM seeks stronger medical ties with Sweden’s Karolinska Institutet

The PM called for closer, broader, and more effective cooperation with Vietnamese partners, guided by the principles of mutual benefit, joint efforts, shared outcomes, and common development, including promoting stronger public-private partnerships and collaboration with businesses.

D.F (left), a US patient, at a follow-up examination with Do Lenh Hung, head of the department of urethral reconstructive surgery. (Photo: VNA)

High-quality healthcare services attract more foreign patients to Binh Dan Hospital

Renowned for its expertise in complex surgeries, the hospital has attracted foreign patients seeking treatment for conditions such as kidney and urinary tract stones, urological and gastrointestinal cancers, and male reproductive disorders. Most procedures are performed using advanced techniques, including laparoscopy and robotic surgery. T

A banner on the side of a car urges people to quit smoking for their own health and that of their loved ones (Photo: VNA)

Sharp tobacco tax hike urged to safeguard youths, community health

A 2023 report by the Vietnam Health Economics Association estimated that the total cost of tobacco-related healthcare and economic losses reached 108 trillion VND (4.14 billion USD) annually – equivalent to 1.14% of GDP and five times higher than the budget revenue generated by the tobacco industry.

On the morning of May 26, 2025, following bilateral talks at the Presidential Palace, President Luong Cuong (first, right) and French President Emmanuel Macron (first, left) witness the exchange of cooperation documents between leaders of ministries, agencies, and enterprises from both countries. In the photo: Ngo Chi Dung, General Director and Chairman of the Board of Viet Nam Vaccine Company (VNVC) (second, right), and Zainab Sadat Qayyum, President of Sanofi Southeast Asia – India, exchange the cooperation agreement on the transfer of Sanofi’s vaccine production technology to VNVC’s vaccine and biologicals plant. (Photo: VNVC)

Vietnam, France collaborate in vaccine production technology transfer

Under the agreement, VNVC and Sanofi will gradually implement technology transfers to enable domestic production of several key Sanofi vaccines that are widely used in Vietnam. In addition, Sanofi will support VNVC in training human resources and quality management in vaccine research and manufacturing.

Medical facilities have been instructed to prepare necessary infrastructure, medical equipment, and supplies to ensure effective patient admission, isolation, diagnosis, treatment, and infection control. - Illustrative image (Photo: VNA)

Enhanced anti-COVID-19 measures in place amid rising cases

According to the World Health Organisation, more than 25,000 COVID-19 cases have been recorded globally over the past month. Notably, from January 1 to May 10, Thailand reported nearly 54,000 infections and 16 deaths. The rise in cases in Thailand has been linked to the spread of XBB.1.16 subvariant.

The working session between the Vietnamese delegation and the Cuban Ministry of Health (Photo: VNA)

Vietnam, Cuba deepen health partnership with focus on biopharmaceuticals

During a working session with Cuban Deputy Minister of Health Tania Margarita Cruz Hernández, Deputy Minister of Health Do Xuan Tuyen described the bilateral medical partnership as a vivid symbol of international solidarity, one deeply rooted in the historic friendship fostered by President Ho Chi Minh and leader Fidel Castro.

Prime Minister Pham Minh Chinh (Photo: VNA)

Vietnam commits to protecting people's health: PM

In his message, the Vietnamese leader emphasised that throughout Vietnam’s construction and development process, people have always been placed at the centre – as both the goal and the driving force of progress. He reaffirmed the country's highest priority on caring for people's health and human development.