As the majority of these products are imported, foreign companies tend to dominate the market both in volume and in diversity. The company bought out Long Chu pharmacy chain to establish FPT Long Chu Pharmaceutical JSC in 2018. Finally, potential sellers should be aware of the Vietnamese governments 10-year plan (started in 2013), which planned on investing around US$1.5 billion to boost the domestic Vietnamese pharmaceutical industry and reduce imports. Quickly search for best suitable job vacancies in Vietnam's top companies from the biggest Job Search Website in Vietnam. FPT Retail is another name that has been accelerating the expansion of its pharmacies. Imports of pharmaceuticals Feb. Vietnam pharmaceutical sector outlook 2019. Gregory Rec/Portland Press Herald via Getty Images) Retailers are frequently running out of everything from flour and fresh meat to toilet paper and pharmaceuticals as supply chains hammered by the coronavirus struggle to keep up with stockpiling consumers. Address: 150 Street 14 Thang 9, Ward 5, Vinh Long, Vinh Long Vietnam. Buy Now How is Vietnam Pharmacy Retail Market Positioned? Profit results in 2020 of the pharmaceutical industry. On the trailing twelve months basis gross margin in 1 Q 2022 fell to 8.9 %. Address: Lot I5-3A, 3B High Technology Park, Tang Nhon Phu A Ward, Thu Duc, Ho Chi Minh Vietnam. 7 United Nations, International Standard Industrial Classification of All i.e. According to VNDirect, three trends will develop in Vietnam's retail industry in the last 6 months of 2022. Taiwans pharmaceutical industry grossed US$2.52 billion in sales in 2000, up 18% over 1999 figures. List of chemical-pharmaceuticals companies, manufacturers and suppliers near Vietnam Weve combined the insights from more than 3,500 CEO interviews with expert analysis to produce a series of reports across industries and critical topic areas. Covid-19 Impact Vietnam Pharmacy Retail industry, Market Revenue, Online Pharmacies Vietnam, Medical Equipment Sales. Our experts include an extensive group of PhDs and advanced-degree holders in biopharma industry-related disciplines with significant pre-consulting industry experience. The pharmaceutical industry in Vietnam has also expanded dramatically over the last decade. The pharmaceutical industry grew by just 2.8% in 2020, lower than its average 11.8% growth in the last five years. Browse the top Pharmaceutical And Biotechnology companies in Ho Chi Minh, Vietnam Area. Pharmacy Retails Market - Industry Size, Share, Trends, Opportunity, and Forecast, 2027By Market Structure, By Product Type, By Therapeutic Area, By Drug Type, Although, the consumption of drugs is low, it does reach the sum of $ 5.5 per capita. Explore our trends series. A fast-growing and ageing population is projected to positively impact the industry with median age in the country expected to hit 42.1 years by 2050. March 17, 2021 35 Pages. Vietnam pharmaceuticals market is bound to experience impressive growth with anticipated CAGR in the forecast period, 2022-2026, on the account of increasing development of the medicinal drugs and pharmaceutical products. View Sample Report. Get the latest trends and understand the impact of the crisis on the market. Vietnam is offering a huge supply of quality pharma. It provides a high-level analysis of key trends and movements within the industry via regulatory, clinical, and market-based analysis, allowing you to discern the large-scale changes and how best to pivot to prioritize them $ 2000. The pharmaceutical industry is experiencing a period of heightened regulatory scrutiny both in the US and globally. Although out-of-stock products are usually replenished within a Why is the Modern Retail Pharmacy model attractive for consumers? Pharmaceuticals Policy and Law 18 (2016) 5566 55 DOI 10.3233/PPL-160432 IOS Press Understandingthe pharmaceutical value chain Murray Aitken IMS Institute for Healthcare Informatics, 100 IMS Drive, Parsippany, NJ 07054, USA Tel. The rapid expansion of the middle-income urban class and the ageing people ratio have Research Expert covering Vietnam. Market Research Reports Business & Finance Chromatography Reagents Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026) October 2021. Firstly, the shift to modern retail will be more obvious after the pandemic, helping modern department chains grow stronger. Vietnam Pharmaceutical market is expected to register positive CAGR of around 15.6% during the period 2017-2022. Within Retail sector 9 other industries have Vit Nams pharmaceutical retail industry is forecast to see significant competition in 2018, with the entry of new players with strong financial capacity and experience in distribution. Get demo report you The pharmaceutical industry grew by just 2.8% in 2020, lower than its average 11.8% growth in the last five years. Vietnam has more than 830,000 mobile money service April 12, 2022 Per capita spending on pharmaceuticals in Vietnam is projected to increase dramatically from $37.97 in 2015 to $85 in 2020. Findings from a Ken Research report show that Vietnams pharmacy retail industry is expected to witness a compound annual growth rate of 8.1 per cent on the basis of revenue by 2025. View Sample Report. The pharmacy retail market, although having presence of pharmacy chains since many years, gained momentum particularly in the last decade with entry of new players and growing healthcare expenditure and health & wellnessRead Explore our industry themes to learn about crucial trends and strategic options. Get in touch with us now. 6 IQVIA Institute, 2019. Included here are companies engaged not only in pharmaceutical development, but also supply chain management and device development, including compounding pharmacies. Table of Contents. The Global Use of Medicine in 2019 and Outlook to 2023. The proportion of the population aged 65 and over is expected to reach 21% by 2050. $ 4250. The future looks to be very interesting for the pharmaceutical industry in Vietnam. $ 4000. The race to open new pharmacies of major drugstore chains such as Pharmacity, Long Chu and An Khang will stimulate the pharmaceutical industry's revenue to grow. Minh-Ngoc Nguyen. The Pharmacy Retail Industry in Vietnam is expected to grow at a CAGR of 8.1% on the basis of revenue and 4.6%on the basis of number of In 2018, total retail sales of goods in Vietnam were estimated to be at VND 3.3 million, in which retail sales of food and beverage accounts for 12.3%. The Pharmacy Retail Industry in Vietnam is expected to grow at a CAGR of 8.1% on the basis of revenue and 4.6%on the basis of number of Vietnam Pharmacy Retails Market is bound to experience impressive growth with anticipated CAGR in the forecast period, 2023-2027, on the account of changing consumer behavior toward online pharmaceutical shopping. R&D Innovation The pandemic spurred adoption of digital and data analytics to improve R&D efficiency, including the use of virtual trials and AI to discover new drugs. Industry Biotech & Pharmaceuticals. Why is the Modern Retail Pharmacy model attractive for consumers? Consistent research and drug discovery procedures are going on currently. Tran Ngoc Liem, General Director, Vietnam Chamber of Commerce & Industry (VCCI), Ho Chi Minh City Branch, said: India is ranked 3rd globally in terms of output of pharmaceutical products and 14th in terms of value. With nearly three decades of on-the-ground experience in the local market, we are the go-to firm for both local and international businesses from a wide range of industries seeking domestic and cross-border This industry also has a growth rate of 2%, achieving a compound annual growth rate of 6% in the period 2018-2020. In 2018, total retail sales of goods in Vietnam were estimated to be at VND 3.3 million, in which retail sales of food and beverage accounts for 12.3%. That followed its acquisition in August 2016 of Glomed Pharmaceutical Co., Inc, a leading Vietnamese pharmaceutical manufacturer based in Thuan An. Over the past 20 years, Bayer HealthCare Pharmaceuticals, s subsidiary of Bayer Group, has expanded its presence in key cities, including Hanoi, Ho Chi Minh City, Can Tho and Da Nang. As a result, it ranks Vietnam to be the second biggest market in ASEAN, one of the top 17 fast-growing countries in the Pharmaceutical Industry. Request Demo. The Vingroup case company is discussed and the focus is mainly on the specific field of Vinmart supermarket and Vinmart con-venience store, not Vietnam's pharmaceutical market is valued at about 10 billion USD in 2020, compared with 5 billion USD in 2015. Search for contacts or accounts by industry, job title, company size, and so much more. However, it seems that current investment policies are still restricting foreign investors from doing business in imported pharmaceuticals in Vietnam. Manufacturing is the creation or production of goods with the help of equipment, labor, machines, tools, and chemical or biological processing or formulation.It is the essence of secondary sector of the economy. Market share of pharmaceuticals in Vietnam 2019-2020, by channel Domestic partnership deals in China's pharma industry 2013-H1 2020 Number of employees of Novartis in Italy 2017, by region Vietnam has one of the worlds top growth rates in pharmaceutical spending, with Thanh Nien newspaper estimating that spending for 2013 would exceed USD 3.3 billion, an increase of 17% from 2012. According to the forecast by market research firm BMI, Vietnam's pharmaceutical market value will reach US$7.7 billion by 2021 and US$16.1 billion by 2026, with a compound growth rate of 11% in Vietnamese dong. Domestic firms do produce and distribute their own prescription drugs, but they often rely on international aid. The pharmaceutical drugs development market report investigates the year 2021 in the pharmaceutical industry from the standpoint of drug development. Gain access to the best database of targeted leads from Pharmaceuticals companies in Vietnam. Vietnams retail market is a large topic and therefore all the aspects with details could not be covered within the limit of a thesis. Yet a few challenges in pharmaceutical industry are now forcing the major pharmaceutical companies to rethink their strategies. Confidential One stop solutionapproach Offer a range of OTC and Rx drugs, health & personal care, vitamin & supplements, and others Longer openinghours Most stores open eighteen hours from 06:00 2 3: 0 Heading to omnimodel Approaching customers by both bricks-and-mortar and e- Confidential One stop solutionapproach Offer a range of OTC and Rx drugs, health & personal care, vitamin & supplements, and others Longer openinghours Most stores open eighteen hours from 06:00 2 3: 0 Heading to omnimodel Approaching customers by both bricks-and-mortar and e- Photo: Long Chau pharmacy. Growth recovery will be underpinned by base effects and a continued easing of Covid-19 restrictions. These startups and companies are taking a variety of approaches to innovating the Pharmaceutical industry, but are all exceptional companies well worth a follow. According to market research firm IBM, the scale of Vietnam's pharmaceutical industry may reach 16.1 billion USD by 2026. Industry Position 2.2.3. 2015 q2 Executive Search Activity Report. In 2018, FPT Retail established FPT Long Chau Pharmaceutical Joint Stock Company and after four years, FPT's pharmacy chain has 494 stores nationwide. Average scale The increase in drug spending was 14.6 per cent during 2010-2015 and is set to remain at least 14 per cent until 2025. India is Vietnams third largest supplier of pharmaceutical products, with export turnover of USD198mn in the first nine months of 2020. On the basis of revenue, the industry grew from USD ~ billion in 2014 and crossed USD ~ billion in 2019, witnessing a CAGR of ~%. The number of pharmacies increased at a CAGR of ~% over the review period 2014-2019. Phone: +84-2837361333. the pharmaceutical industry in Vietnam has reached an intermediate level of international integration but domestic industry mainly produces drugs out of imported raw materials while the value-added of exports is very small in comparison to the inputs imported for production. Vietnams pharmaceutical market is projected to increase to US$7.7 billion in 2021 and US$16.1 billion in 2026. Vietnam's pharmaceutical products, specifically for personal protective equipment and healthcare products such as medical masks and hand sanitizers, peaked during the pandemic. Lets analyze overall picture of Vietnams pharma sector. Government initiatives such as launching of a national medicine database as well as telemedicine platform are also positively impacted the Established in 1993, Baker McKenzie Vietnam is one of the largest and most experienced international law firms in Vietnam and consistently rated among the best. Vietnams pharmaceutical market was valued at around US$10 billion in 2020, compared to US$5 billion in 2015. Vietnam is a fast growing economy in the Asian region with a significantly high population (over 92 million in 2015). HR1Vietnam is one of the largest recruitment (headhunt) agencies in Vietnam. Optic Neuropathy Drugs in Development by Stages, Target, MoA, RoA, Molecule Type and Key Players, 2022 Update. While hourly wages in Vietnam were less than three U.S. dollars in 2018, Retail sales of cars in China by month 2020-2022; Manufacturing The market size was $4.6 billion in 2017, and is projected to reach $6.6 billion by 2020. Over the next five years, Vietnam's pharmaceutical industry is expected to be among 20 fastest and most stable markets in the world. Reports. Alpen Pharma Group. Jul. The leading pharmaceutical companies of India all meet many international standards from the US, EU, Australia, etc. 2015. That spending by individuals is driving rapid growth in Vietnams pharmaceutical market as a whole. The market size was $4.6 billion in 2017, and is projected to reach $6.6 billion by 2020. Advanced medicine development is driving the growth of Vietnam Pharmaceuticals Market, in the forecast period, 2022-2026. The pharmaceutical industry in Vietnam is slowly recovering from Covid-19 pandemic, which is a great challenge for the entire population. Click Now! R&D investment and investment in local production of APIs will have positive impact on the demand for Pharmaceutical products. Public procurement of drugs is done through bidding in which any company is free to submit proposal. As per market research firm IBM, the size of Vietnams pharmaceutical industry may reach US$16.1 billion in 2026. Experts have pointed out lots of opportunities for Vietnamese and Indian enterprises in the pharmaceutical industry in Vietnam. : +1 973 316 4034; Fax: +1 973 541 3589; E-mail: maitken@theimsinstitute.org Major Retail Companies; E-Commerce Pharmaceutical Retailers platform are also positively impacted the industry. Figures. Access new updated reports and statistics for the Retail Banking Industry in Vietnam. Vietnam is a fast growing economy in the Asian region with a significantly high population (over 92 million in 2015). Although still expanding (about 1.1% on average during 2000-2015), the Vietnamese population is considered to be entering the ageing Pharmaceutical Industry in Vietnam: Sluggish Sector in a Growing Market. Lets analyze overall picture of Vietnams pharma sector. However, connecting foreign supply to domestic Search Pharmaceuticals Companies in Vietnam Lead Generation and Sales Prospecting Made Easy ZoomInfo is the premier lead generation company. Vietnam Pharmacy Retail Market Future Outlook & Projections: The industry is expected to witness a CAGR of 8.1% on the basis of revenue by 2025. Pharmaceuticals in Vietnam are regulated by The Drug Administration of Vietnam (DAV), an agency of the Ministry of Health. In order to be offered for sale in Vietnam, pharmaceutical products require registration with the DAV, which issues market authorization numbers. Vietnam is a fast growing economy in the Asian region with a significantly high population (over 92 million in 2015). Drug expense per capita is forecast to double to US$85 in 2020 and US$163 in 2025. Although still expanding (about 1.1% on average during 20002015), the Vietnamese population is considered to be entering the ageing stage at a very high rate. Fast growing aging population is projected to positively impact the industry with median age in the country expected to hit 42.1 years by 2050. The pharmaceutical market in Vietnam is projected to increase to $7.7 billion (USD) in 2021 and US$16.1 billion in 2026. Value Chain of Vietnam According to TechSci report on, Vietnam Pharmaceuticals Market By Drug Type (Generic Drugs v/s Branded Drugs), By Product Type (Prescription Drugs v/s Over-The-Counter Drugs), By Application (Cardiovascular, Vietnams pharmaceutical retail industry is forecast to see significant competition in 2018, with the entry of new players with strong financial capacity and experience in Their revenue from stores in 2019 is estimated to increase 129% compared to 2018, reaching about USD 38.7 million. In 2019, there were ~ pharmacies in Vietnam including drugstores, hospital dispensaries and drug cabinets of commune health stations. There are roughly 250 registered herbal medicine producers in Taiwan and 280 registered Western medicine manufacturers. Vietnam Pharmacy Retail Market witnessed a revenue growth of 6.8% during 2014-2019 and CAGR of 8.7% basis number of pharmacies. By Market Structure: The Vietnam Pharmacy Retail Market is dominated by the presence of Unorganized Pharmacies in the term of number of stores as well as revenue. Single Subscription (130$ ~ 3,025,620 VN) Annual Subscription Add To Cart . Year Started: 2007 Incorporated: 2007. Vietnam, with a population of nearly 100 million people and constantly improving living standards is considered an attractive market including the pharmaceutical sector for investors. We expect Vietnams real GDP growth to accelerate to 6.8% in 2022, up from 2.6% in 2021 and 2.9% in 2020; the economy expanded by 5.0% y-o-y in Q122. Now, VinFa has 34 VINFA. There is an enormous potential for Vietnam to purchase generic medicines from India, but the former is actively trying to get Indian pharmaceutical companies to manufacture in Vietnam instead of importing. January 2022. History of Vietnam Pharmaceutical Industry 2.2.2. The pharmaceutical industry in Vietnam is slowly recovering from Covid-19 pandemic, which is a great challenge for the entire population. Website: click here. Vietnams pharmaceutical industry is amongst the highest growth markets in Asia and is expected to be worth ~$10B USD in 2020 (previously worth ~$5B USD in 2015) [1]. Description. Cinntra is SAP Business One Partner, Microsoft Partner and Oracle Gold Partner. Long Chau is also a famous chain, especially in the Southern Vietnam. Vietnam pharmaceutical sector outlook 2019. Vietnams Pharmaceutical Market Overview. The pharmaceutical industry is part of the global health economy, which in 2014 was Poland, Saudi Arabia, South Africa, Turkey and Vietnam. The pharmaceutical market is on the rise. The total accumulated profit after tax by September 2020 of these companies reached VND 1.5 trillion (+12.6% over the same period). Search Job by Industry. Phone: +84-2703822533. VanEck Pharmaceutical ETF (PPH ) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the MVIS US Listed Pharmaceutical 25 Index (MVPPHTR), which is intended to track the overall performance of companies involved in pharmaceuticals, including pharmaceutical research and development as Pharmaceuticals Markets in China. More and more investments have been seen in the pharmaceutical industry, from production to distribution. Description. According to statistics of the Drug Administration of Vietnam, the industry will continue to achieve double digit growth in the next 5 years and expect to reach 7.7 billion USD in 2021. This article showcases our top picks for the best Vietnam based Pharmaceutical companies. The Pharmacy Retail Industry in Vietnam is expected to grow at a CAGR of 8.1% on the basis of revenue and 4.6%on the basis of number of Vietnam is currently classified as a group of countries with an emerging pharmaceutical industry (Pharmerging according to the IQVIA Institute classification). Alpen Pharma Group of Companies (Alpen Pharma Group) was found in 1997 and represents a union of companies, major business profile of which is to promote, distribute, produce and propagate medicinal products. VinFa is Vingroups the pharmacy brand that established in Ha Noi. Vietnamese consumers have additionally demonstrated that they are willing to pay more for the reliability of a foreign brand. Vietnam Pharmaceutical Industry Report 2020. That spending by individuals is driving rapid growth in Vietnams pharmaceutical market as a whole. Industry Scale and Feature 2.2.4. The Vietnam pharmaceutical market is generally import-reliant, especially in terms of high-tech products and active pharmaceutical ingredients. Total accumulated revenue until September 2020 of listed pharmaceutical companies in Vietnam reached VND 10.8 trillion (-1.3% over the same period). With a compound annual growth rate of 12.2%, the Vietnamese pharmaceutical industry is flourishing. We focus on fast, efficient and value driven in recruiting and placement of executive leadership talent across a broad spectrum of functional areas and industry sectors. Pharmaceutical Companies in Vietnam in alphabetical order. Consistent research and drug discovery procedures are going on currently. Cinntra Infotech North India supports includes Delhi NCR, Noida, Ghaziabad, Meerut, Faridabad, Gurgaon, Sonipat, Agra, Moradabad, Kanpur, Lucknow, Dehradun, Haridwar, , Jun 14, 2021. Vietnam wishes to seek cooperation opportunities with India in the pharmaceutical sector. The conference was attended by a delegation of around 48 Indian pharmaceutical and many Vietnamese companies. The total value of the pharmaceutical market has reached 6.6 billion USD in 2019, forecast to exceed 9.2 billion USD by 2023. They were originally found in 2007 as an individual pharmacy store but has developed rapidly to become a famous chain in Ho Chi Minh city. Vietnam is one of the fastest growing pharmaceutical markets in South East Asia. In Taiwan, the term pharmaceuticals refers to both Western medicines and traditional Chinese herbal medicines. CUU LONG PHARMACEUTICAL JOINT STOCK COMPANY. According to statistics of the Drug Administration of Vietnam, the industry will continue to achieve double digit growth in the next 5 years and expect to reach 7.7 billion USD in 2021. Cinntra Infotech Solution is a CMMI level 3 Technology Company offering ERP Solutions to SMEs in India. The country's pharmaceutical market had estimated revenues of US$ 5.9 billion in 2018. The pharmaceutical Vietnamese industry started to emerge at the beginning of the 1990s. Firstly, the shift to modern retail will be more obvious after the pandemic, helping modern department chains grow stronger. MARKET TRENDS. According to VNDirect, three trends will develop in Vietnam's retail industry in the last 6 months of 2022. New jobs added daily! [email protected] 44 20 8123 2220 (UK) +1 732 587 5005 (US) Contact Us | FAQ|. April 2022. and 54,250 retail drug stores. According to market research firm IBM, the Vietnamese pharmaceutical market in 2021 was worth around $7.7 billion and is expected to reach $16.1 billion by 2026. HR2B is please to sponsor the 5th Annual Vietnam Labour Law Conference in 2022 by VNHR 7 interview questions that employers should ask How to avoid common payroll mistakes? The pharmaceutical industry has been successful for decades. The leading pharmaceutical companies of India all meet many international standards from the US, EU, Australia, etc. Vietnam pharmaceuticals market is bound to experience impressive growth with anticipated CAGR in the forecast period, 2022-2026, on the account of increasing development of the medicinal drugs and pharmaceutical products. Although still expanding (about 1.1% on average during 20002015), In the annual report 2021, FPT Retail Chairman Nguyen Bach Diep described the rapid development of the pharmacy brand as the long-term growth engine for the company. Salaries, reviews, and more - all posted by employees working at the top Pharmaceutical And Biotechnology companies in Ho Chi Minh, Vietnam Area. Vietnam is a fast growing economy in the Asian region with a significantly high population (over 92 million in 2015). Gross Margin Comment: Pharmacy Services & Retail Drugstore Industry increased Gross Margin through reduction in Cost of Sales and despite contraction in Gross Profit by -0.83 % and Revenue-1.92 %.Gross Margin in 1 Q 2022 was 8.93 %, below Industry average. Although still expanding (about 1.1% on average during 2000-2015), the Vietnamese population is considered to be entering the ageing stage at This paper aims to explore the development of the pharmaceutical industry during the years 19902015 and to identify a series of weaknesses in the government promotion of the industry. Flour has been in short supply in recent weeks. The World Bank warns that Vietnam is experiencing the fastest rate of population aging ever.