Vietnam

Why Vietnam

As of 2020, the Vietnamese pharmaceutical market was valued at approximately US$10 billion, showcasing rapid growth and substantial potential for local and imported drugs. Importantly, around 60% of pharmaceutical end products in Vietnam are estimated to be imported, constituting a market value of about US$6 billion in 2020, with anticipated growth reaching US$9.66 billion by 2026.

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​The regulatory framework is overseen by the Drug Administration of Vietnam (DAV) under the Ministry of Health, ensuring safety, efficacy, and quality control. Approximately 40% of locally produced drugs complement the market, elevating the credibility and desirability of imported pharmaceuticals. However, navigating regulatory processes poses challenges, with stakeholders facing bureaucratic hurdles and prolonged timelines within the DAV, potentially hindering timely innovations. Striking a balance between affordability and drug safety remains a persistent challenge, prompting ongoing modernization efforts.