Vietnam’s pharma export hits $312 mln in 2025, ranking 4th in Southeast Asia

Vietnam’s pharmaceutical market is maintaining steady annual growth of 6-8%, with total market value projected to rise from about $2.7 billion in 2015 to around $8 billion by 2026, making the country one of Asia’s fastest-growing drug markets, the Drug Administration of Vietnam reported.

The country currently has 67 companies exporting pharmaceuticals and drug ingredients, with total export turnover reaching $312 million in 2025, ranking Vietnam fourth in Southeast Asia, according the administration, under the Ministry of Health.

Foreign-invested enterprises accounted for about 75% of export value, or roughly $230 million, while domestic firms contributed $82 million. Key export markets are in Asia, followed by Europe and Japan.

Vietnam’s pharmaceutical distribution network includes 245 facilities involved in pharmaceuticals and drug ingredients export, import and storage services; nearly 8,000 wholesale distributors; and more than 95,600 retail outlets nationwide.

These include over 40,500 pharmacies, 54,000 drug counters, and nearly 800 medicine cabinets at commune-level health stations, helping ensure nationwide drug supply.

Domestic manufacturing capacity has continued to improve. Vietnam now has 243 drug manufacturing plants meeting WHO good manufacturing practice (GMP-WHO) standards, up from 158 in 2015. Of these, 29 plants meet higher standards such as EU-GMP or PIC/S-GMP.

Local production currently meets around 60% of domestic demand by volume and 46% by value.

Vietnamese firms are now able to produce all 13 essential drug groups classified by the World Health Organization, supply 11 of the 12 vaccines used in the national expanded immunization program, and have gradually gained capabilities in producing certain biological materials, active pharmaceutical ingredients and excipients.

Alongside market growth, regulatory reforms and digitalization in pharmaceuticals and cosmetics have been stepped up.

Vu Tuan Cuong, head of the drug administration, said the health ministry cut the number of administrative procedures in the pharmaceutical and cosmetics sector from 124 to 75 in 2025, a reduction of nearly 40%, helping lower compliance costs and ease burdens on businesses and consumers.

The ministry also submitted the draft Decree No. 163/2025 to the Government for issuance and introduced 11 circulars guiding implementation of the Pharmacy Law, including three on decentralization and delegation of authority, creating a new legal framework for sector management.

Digital transformation has also accelerated, with the ministry now providing 47 online public services, including 37 fully digital services. Of these, 24 have been integrated into the national one-stop public service portal, improving transparency and efficiency.

In 2025, the Drug Administration processed more than 40,000 applications related to drug import, export and marketing authorization. About 94% of new drug registration applications were resolved on time, with average processing time reduced to 114.5 days, the agency said.