Vietnam E-Pharmacy & Health E-Commerce Market
Description
Vietnam E-Pharmacy & Health E-Commerce Market Overview
The Vietnam E-Pharmacy & Health E-Commerce Market is valued at USD 130 million, based on a five-year historical analysis. This growth is primarily driven by the increasing adoption of digital health solutions, rising consumer demand for convenient access to medications, and the expansion of online healthcare services. The market has seen a significant shift towards e-commerce platforms, especially during the pandemic, which accelerated the trend of online shopping for health-related products. Key drivers include rapid digitalization, widespread internet penetration (with over 78 million internet users and a 79% penetration rate), and the expansion of mobile payment systems, all of which have made online health platforms more accessible and user-friendly .
Key cities such as
Ho Chi Minh City
and
Hanoi
dominate the market due to their large urban populations, higher disposable incomes, and better internet connectivity. These cities have robust infrastructure for logistics and delivery, making them ideal hubs for e-pharmacy services. Additionally, growing health awareness among consumers in these regions has further fueled demand for online health products and services. The market is also seeing increased purchases of vitamins, dietary supplements, herbal remedies, skincare, and hygiene essentials, reflecting a broader shift toward preventive and holistic healthcare .
In 2023, the Vietnamese government implemented regulations to enhance the safety and quality of e-pharmacy services. This includes the requirement for all online pharmacies to obtain a license from the Ministry of Health, ensuring compliance with national health standards. The regulation, under
Circular No. 02/2023/TT-BYT issued by the Ministry of Health
, mandates operational licensing, prescription verification for prescription drugs, and digital record-keeping for all transactions, aiming to protect consumers and promote the responsible use of medications in the digital marketplace .
Vietnam E-Pharmacy & Health E-Commerce Market Segmentation
By Type:
The market is segmented into various types of products, including Prescription Medications, Over-the-Counter (OTC) Products, Health Supplements, Personal Care & Beauty Products, Medical Devices & Equipment, Herbal & Traditional Medicines, Wellness & Preventive Care Products, and Others (e.g., Home Healthcare, Mother & Baby Care). Among these,
Prescription Medications
and
Health Supplements
are particularly prominent due to increasing health consciousness and the trend of self-medication. E-pharmacies are expanding their product range to include vitamins, dietary supplements, herbal remedies, and wellness products, reflecting consumer demand for preventive and holistic health solutions .
By End-User:
The end-user segmentation includes Individual Consumers, Healthcare Professionals, Hospitals and Clinics, and Corporate Clients.
Individual Consumers
represent the largest segment, driven by the increasing trend of online shopping and the convenience of accessing health products from home. Healthcare Professionals and Hospitals also contribute significantly, as they increasingly rely on e-pharmacy services for patient care and medication management. The growing adoption of digital platforms by both consumers and healthcare providers is strengthening the end-user base .
Vietnam E-Pharmacy & Health E-Commerce Market Competitive Landscape
The Vietnam E-Pharmacy & Health E-Commerce Market is characterized by a dynamic mix of regional and international players. Leading participants such as Pharmacity, Long Chau Pharmacy (FPT Retail), An Khang Pharmacy (The Gioi Di Dong), Medigo, MyPharma, Jio Health, Hoan My Medical Corporation, DrugBank, TikiCare (Tiki.vn Health Vertical), Lazada Health, Shopee Health, An Phuoc Pharmacy, Phuoc An Pharmacy, Viettel Media (Viettel Solutions Health), Med247 contribute to innovation, geographic expansion, and service delivery in this space.
Pharmacity
2011
Ho Chi Minh City, Vietnam
Long Chau Pharmacy (FPT Retail)
2017
Ho Chi Minh City, Vietnam
An Khang Pharmacy (The Gioi Di Dong)
2017
Ho Chi Minh City, Vietnam
Medigo
2019
Ho Chi Minh City, Vietnam
MyPharma
2018
Ho Chi Minh City, Vietnam
Company
Establishment Year
Headquarters
Group Size (Large, Medium, or Small as per industry convention)
Revenue Growth Rate (YoY %)
Gross Merchandise Value (GMV)
Customer Acquisition Cost (CAC)
Average Order Value (AOV)
Customer Retention Rate (%)
Vietnam E-Pharmacy & Health E-Commerce Market Industry Analysis
Growth Drivers
Increasing Internet Penetration:
Vietnam's internet penetration rate reached 75%, with approximately 77 million users accessing online services. This growth facilitates the expansion of e-pharmacy platforms, allowing consumers to easily access health products and services. The increasing availability of affordable smartphones and improved broadband infrastructure further supports this trend, enabling more individuals to engage in online health shopping, thus driving the e-pharmacy market forward.
Rising Health Awareness:
The Vietnamese population is increasingly prioritizing health, with healthcare spending projected to reach $18 billion. This shift is driven by a growing middle class and heightened awareness of health issues, leading to increased demand for health-related products. As consumers seek convenient access to medications and health services, e-pharmacies are well-positioned to meet this demand, contributing to market growth and innovation in health solutions.
Government Support for Digital Health Initiatives:
The Vietnamese government has allocated $1.2 billion to enhance digital health infrastructure. This investment aims to promote telemedicine and e-pharmacy services, ensuring regulatory frameworks support digital health solutions. By fostering an environment conducive to innovation, the government is encouraging the growth of e-pharmacies, which can leverage technology to improve service delivery and patient engagement in the healthcare sector.
Market Challenges
Regulatory Compliance Issues:
E-pharmacies in Vietnam face stringent regulatory requirements, including licensing and operational standards. As of now, only 30% of e-pharmacies comply with these regulations, leading to potential legal challenges and operational disruptions. The complex regulatory landscape can hinder market entry for new players and create barriers for existing businesses, impacting overall market growth and consumer trust in e-pharmacy services.
Trust and Security Concerns:
Consumer trust remains a significant challenge for e-pharmacies, with 60% of potential users expressing concerns about data security and product authenticity. Incidents of online fraud and counterfeit medications have increased, further exacerbating these fears. Building a secure and trustworthy online environment is crucial for e-pharmacies to attract and retain customers, as well as to foster long-term growth in the market.
Vietnam E-Pharmacy & Health E-Commerce Market Future Outlook
The future of Vietnam's e-pharmacy and health e-commerce market appears promising, driven by technological advancements and changing consumer behaviors. As digital health solutions become more integrated into everyday life, e-pharmacies are expected to enhance their service offerings, focusing on user experience and personalized care. Additionally, the collaboration between e-pharmacies and healthcare providers will likely expand, creating a more cohesive healthcare ecosystem that prioritizes patient engagement and accessibility in the coming years.
Market Opportunities
Expansion of Telehealth Services:
The telehealth sector in Vietnam is projected to grow significantly, with an estimated 12 million users. This presents a substantial opportunity for e-pharmacies to integrate telehealth services, offering consultations and prescriptions online, thereby enhancing customer convenience and expanding their service portfolio.
Growth in Mobile Health Applications:
The mobile health app market is expected to reach $400 million in Vietnam. E-pharmacies can capitalize on this trend by developing user-friendly applications that facilitate medication management, health tracking, and direct purchasing, thus improving customer engagement and loyalty in a competitive landscape.
Please Note: It will take 5-7 business days to complete the report upon order confirmation.
The Vietnam E-Pharmacy & Health E-Commerce Market is valued at USD 130 million, based on a five-year historical analysis. This growth is primarily driven by the increasing adoption of digital health solutions, rising consumer demand for convenient access to medications, and the expansion of online healthcare services. The market has seen a significant shift towards e-commerce platforms, especially during the pandemic, which accelerated the trend of online shopping for health-related products. Key drivers include rapid digitalization, widespread internet penetration (with over 78 million internet users and a 79% penetration rate), and the expansion of mobile payment systems, all of which have made online health platforms more accessible and user-friendly .
Key cities such as
Ho Chi Minh City
and
Hanoi
dominate the market due to their large urban populations, higher disposable incomes, and better internet connectivity. These cities have robust infrastructure for logistics and delivery, making them ideal hubs for e-pharmacy services. Additionally, growing health awareness among consumers in these regions has further fueled demand for online health products and services. The market is also seeing increased purchases of vitamins, dietary supplements, herbal remedies, skincare, and hygiene essentials, reflecting a broader shift toward preventive and holistic healthcare .
In 2023, the Vietnamese government implemented regulations to enhance the safety and quality of e-pharmacy services. This includes the requirement for all online pharmacies to obtain a license from the Ministry of Health, ensuring compliance with national health standards. The regulation, under
Circular No. 02/2023/TT-BYT issued by the Ministry of Health
, mandates operational licensing, prescription verification for prescription drugs, and digital record-keeping for all transactions, aiming to protect consumers and promote the responsible use of medications in the digital marketplace .
Vietnam E-Pharmacy & Health E-Commerce Market Segmentation
By Type:
The market is segmented into various types of products, including Prescription Medications, Over-the-Counter (OTC) Products, Health Supplements, Personal Care & Beauty Products, Medical Devices & Equipment, Herbal & Traditional Medicines, Wellness & Preventive Care Products, and Others (e.g., Home Healthcare, Mother & Baby Care). Among these,
Prescription Medications
and
Health Supplements
are particularly prominent due to increasing health consciousness and the trend of self-medication. E-pharmacies are expanding their product range to include vitamins, dietary supplements, herbal remedies, and wellness products, reflecting consumer demand for preventive and holistic health solutions .
By End-User:
The end-user segmentation includes Individual Consumers, Healthcare Professionals, Hospitals and Clinics, and Corporate Clients.
Individual Consumers
represent the largest segment, driven by the increasing trend of online shopping and the convenience of accessing health products from home. Healthcare Professionals and Hospitals also contribute significantly, as they increasingly rely on e-pharmacy services for patient care and medication management. The growing adoption of digital platforms by both consumers and healthcare providers is strengthening the end-user base .
Vietnam E-Pharmacy & Health E-Commerce Market Competitive Landscape
The Vietnam E-Pharmacy & Health E-Commerce Market is characterized by a dynamic mix of regional and international players. Leading participants such as Pharmacity, Long Chau Pharmacy (FPT Retail), An Khang Pharmacy (The Gioi Di Dong), Medigo, MyPharma, Jio Health, Hoan My Medical Corporation, DrugBank, TikiCare (Tiki.vn Health Vertical), Lazada Health, Shopee Health, An Phuoc Pharmacy, Phuoc An Pharmacy, Viettel Media (Viettel Solutions Health), Med247 contribute to innovation, geographic expansion, and service delivery in this space.
Pharmacity
2011
Ho Chi Minh City, Vietnam
Long Chau Pharmacy (FPT Retail)
2017
Ho Chi Minh City, Vietnam
An Khang Pharmacy (The Gioi Di Dong)
2017
Ho Chi Minh City, Vietnam
Medigo
2019
Ho Chi Minh City, Vietnam
MyPharma
2018
Ho Chi Minh City, Vietnam
Company
Establishment Year
Headquarters
Group Size (Large, Medium, or Small as per industry convention)
Revenue Growth Rate (YoY %)
Gross Merchandise Value (GMV)
Customer Acquisition Cost (CAC)
Average Order Value (AOV)
Customer Retention Rate (%)
Vietnam E-Pharmacy & Health E-Commerce Market Industry Analysis
Growth Drivers
Increasing Internet Penetration:
Vietnam's internet penetration rate reached 75%, with approximately 77 million users accessing online services. This growth facilitates the expansion of e-pharmacy platforms, allowing consumers to easily access health products and services. The increasing availability of affordable smartphones and improved broadband infrastructure further supports this trend, enabling more individuals to engage in online health shopping, thus driving the e-pharmacy market forward.
Rising Health Awareness:
The Vietnamese population is increasingly prioritizing health, with healthcare spending projected to reach $18 billion. This shift is driven by a growing middle class and heightened awareness of health issues, leading to increased demand for health-related products. As consumers seek convenient access to medications and health services, e-pharmacies are well-positioned to meet this demand, contributing to market growth and innovation in health solutions.
Government Support for Digital Health Initiatives:
The Vietnamese government has allocated $1.2 billion to enhance digital health infrastructure. This investment aims to promote telemedicine and e-pharmacy services, ensuring regulatory frameworks support digital health solutions. By fostering an environment conducive to innovation, the government is encouraging the growth of e-pharmacies, which can leverage technology to improve service delivery and patient engagement in the healthcare sector.
Market Challenges
Regulatory Compliance Issues:
E-pharmacies in Vietnam face stringent regulatory requirements, including licensing and operational standards. As of now, only 30% of e-pharmacies comply with these regulations, leading to potential legal challenges and operational disruptions. The complex regulatory landscape can hinder market entry for new players and create barriers for existing businesses, impacting overall market growth and consumer trust in e-pharmacy services.
Trust and Security Concerns:
Consumer trust remains a significant challenge for e-pharmacies, with 60% of potential users expressing concerns about data security and product authenticity. Incidents of online fraud and counterfeit medications have increased, further exacerbating these fears. Building a secure and trustworthy online environment is crucial for e-pharmacies to attract and retain customers, as well as to foster long-term growth in the market.
Vietnam E-Pharmacy & Health E-Commerce Market Future Outlook
The future of Vietnam's e-pharmacy and health e-commerce market appears promising, driven by technological advancements and changing consumer behaviors. As digital health solutions become more integrated into everyday life, e-pharmacies are expected to enhance their service offerings, focusing on user experience and personalized care. Additionally, the collaboration between e-pharmacies and healthcare providers will likely expand, creating a more cohesive healthcare ecosystem that prioritizes patient engagement and accessibility in the coming years.
Market Opportunities
Expansion of Telehealth Services:
The telehealth sector in Vietnam is projected to grow significantly, with an estimated 12 million users. This presents a substantial opportunity for e-pharmacies to integrate telehealth services, offering consultations and prescriptions online, thereby enhancing customer convenience and expanding their service portfolio.
Growth in Mobile Health Applications:
The mobile health app market is expected to reach $400 million in Vietnam. E-pharmacies can capitalize on this trend by developing user-friendly applications that facilitate medication management, health tracking, and direct purchasing, thus improving customer engagement and loyalty in a competitive landscape.
Please Note: It will take 5-7 business days to complete the report upon order confirmation.
Table of Contents
80 Pages
- 1. Vietnam E-Pharmacy & Health E-Commerce Market Overview
- 1.1. Definition and Scope
- 1.2. Market Taxonomy
- 1.3. Market Growth Rate
- 1.4. Market Segmentation Overview
- 2. Vietnam E-Pharmacy & Health E-Commerce Market Size (in USD Bn), 2019–2024
- 2.1. Historical Market Size
- 2.2. Year-on-Year Growth Analysis
- 2.3. Key Market Developments and Milestones
- 3. Vietnam E-Pharmacy & Health E-Commerce Market Analysis
- 3.1. Growth Drivers
- 3.1.1 Increasing Internet Penetration
- 3.1.2 Rising Health Awareness
- 3.1.3 Convenience of Online Shopping
- 3.1.4 Government Support for Digital Health Initiatives
- 3.2. Restraints
- 3.2.1 Regulatory Compliance Issues
- 3.2.2 Trust and Security Concerns
- 3.2.3 Competition from Traditional Pharmacies
- 3.2.4 Limited Consumer Awareness of E-Pharmacy Services
- 3.3. Opportunities
- 3.3.1 Expansion of Telehealth Services
- 3.3.2 Growth in Mobile Health Applications
- 3.3.3 Partnerships with Healthcare Providers
- 3.3.4 Development of Personalized Medicine Solutions
- 3.4. Trends
- 3.4.1 Increased Use of AI in Health Services
- 3.4.2 Shift Towards Preventive Healthcare
- 3.4.3 Rise of Subscription-Based Health Services
- 3.4.4 Integration of E-Commerce with Social Media Platforms
- 3.5. Government Regulation
- 3.5.1 Licensing Requirements for E-Pharmacies
- 3.5.2 Data Protection Regulations
- 3.5.3 Pricing Controls on Pharmaceuticals
- 3.5.4 Guidelines for Online Prescription Services
- 3.6. SWOT Analysis
- 3.7. Stakeholder Ecosystem
- 3.8. Competition Ecosystem
- 4. Vietnam E-Pharmacy & Health E-Commerce Market Segmentation, 2024
- 4.1. By Product Type (in Value %)
- 4.1.1 Prescription Medications
- 4.1.2 Over-the-Counter (OTC) Products
- 4.1.3 Health Supplements
- 4.1.4 Personal Care & Beauty Products
- 4.1.5 Others
- 4.2. By End-User (in Value %)
- 4.2.1 Individual Consumers
- 4.2.2 Healthcare Professionals
- 4.2.3 Hospitals and Clinics
- 4.2.4 Corporate Clients
- 4.3. By Sales Channel (in Value %)
- 4.3.1 Direct-to-Consumer (D2C) Platforms
- 4.3.2 Third-Party Marketplaces
- 4.3.3 Mobile Applications
- 4.3.4 Social Commerce (via Social Media)
- 4.4. By Distribution Mode (in Value %)
- 4.4.1 Home Delivery
- 4.4.2 Click and Collect
- 4.4.3 Pharmacy Pickup
- 4.5. By Price Range (in Value %)
- 4.5.1 Budget
- 4.5.2 Mid-Range
- 4.5.3 Premium
- 4.6. By Region (in Value %)
- 4.6.1 Northern Vietnam
- 4.6.2 Southern Vietnam
- 4.6.3 Central Vietnam
- 4.6.4 Mekong Delta
- 4.6.5 Highlands
- 4.6.6 Urban Areas
- 4.6.7 Rural Areas
- 5. Vietnam E-Pharmacy & Health E-Commerce Market Cross Comparison
- 5.1. Detailed Profiles of Major Companies
- 5.1.1 Pharmacity
- 5.1.2 Long Chau Pharmacy (FPT Retail)
- 5.1.3 An Khang Pharmacy (The Gioi Di Dong)
- 5.1.4 Medigo
- 5.1.5 MyPharma
- 5.2. Cross Comparison Parameters
- 5.2.1 Revenue
- 5.2.2 Market Share
- 5.2.3 Customer Acquisition Cost (CAC)
- 5.2.4 Average Order Value (AOV)
- 5.2.5 Customer Retention Rate (%)
- 6. Vietnam E-Pharmacy & Health E-Commerce Market Regulatory Framework
- 6.1. Compliance Requirements and Audits
- 6.2. Certification Processes
- 6.3. Licensing Standards
- 7. Vietnam E-Pharmacy & Health E-Commerce Market Future Size (in USD Bn), 2025–2030
- 7.1. Future Market Size Projections
- 7.2. Key Factors Driving Future Market Growth
- 8. Vietnam E-Pharmacy & Health E-Commerce Market Future Segmentation, 2030
- 8.1. By Product Type (in Value %)
- 8.2. By End-User (in Value %)
- 8.3. By Sales Channel (in Value %)
- 8.4. By Distribution Mode (in Value %)
- 8.5. By Price Range (in Value %)
- 8.6. By Region (in Value %)
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