Vietnam's pharmaceutical industry is experiencing double-digit annual growth, with its market size projected to reach $10 billion by 2026.

Leveraging open policies and significant consumer potential, Vietnam is gradually emerging as a regional hub for pharmaceutical manufacturing and research.

The pharmaceutical market value has increased significantly, from $2.7 billion in 2015 to $7 billion in 2025. The country is home to over 238 drug manufacturing facilities meeting WHO-GMP standards, 17 facilities meeting EU-GMP standards, more than 5,000 pharmaceutical wholesalers, and over 62,000 retailers.

According to Vietnam Customs, pharmaceutical imports in 2024 totaled nearly $4.4 billion, marking a 27.9% increase compared to 2023. Major suppliers include France, the US, Germany, and India.

With a population of over 100 million and robust growth in healthcare spending (an 8.7-fold increase over the past 30 years), Vietnam has attracted the attention of international pharmaceutical corporations. Experts anticipate strong investment due to the country’s high-quality human resources, upgraded infrastructure, and transparent policies.

The National Strategy for the Development of Vietnam's Pharmaceutical Industry until 2030 and Vision to 2045 aims to elevate the industry to the level of advanced countries in the region. It focuses on ensuring affordable access to medicines, enhancing research capabilities, and applying technologies to produce originator drugs and modern dosage forms.

Vietnam also seeks to position itself as a contract manufacturing hub and a center for technology transfers of originator drugs within ASEAN, aiming to achieve Level 4 classification under the WHO standards.

Furthermore, the EU-Vietnam Free Trade Agreement (EVFTA) is generating significant benefits for European pharmaceutical companies, with 51% of EU pharmaceuticals now tariff-free. This advantage facilitates entry into Vietnam's market, including public hospitals, which account for 65% of the industry's revenue.