Pharmaceutical industry – Step into the phase of stable growth
- According to IQVIA, the total pharmaceutical market size in Vietnam reached USD 8.5 billion (+6% YoY), with revenue from the ETC and OTC channels reached USD 3.4 billion (+18% YoY) and USD 5.1 billion (-1% YoY), respectively.
- In a favorable policy environment, we believe that the ETC channel will continue to be the primary growth driver for the pharmaceutical industry in 2024. The OTC channel is expected to experience stable growth in line with the overall industry growth rate.
- In the long term, Vietnam’s pharmaceutical industry will benefit from an aging population and increasing population expenditure on pharmaceuticals
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