Vietnam Pharmaceutical Consulting

Although Vietnam’s healthcare industry is still developing, its pharmaceutical market is worth more than $950 million. With a population of about 90 million people, Vietnam currently has the fastest growing healthcare market in South East Asia. PBM has worked on various Vietnamese pharmaceutical consulting projects. PBM’s Vietnam pharmaceutical consultants have helped international companies with Vietnamese market research, establishing local manufacturing facilities and finding local drug distributors.

Currently, there are more than 200 pharmaceutical companies registered in Vietnam. These companies mainly make generic drugs. The Vietnamese government has been supporting the import of generic drugs to reduce the public’s medical costs. With the strong competition in generic drugs, international companies will need to devise an efficient sales strategy to compete in the Vietnamese drug market. The most effective way to do this is to work with experienced drug consultants who understand Vietnam’s pharmaceutical market.

As a developing country, Vietnam still has shortage of medical practitioners and qualified pharmacists. Intellectual property is also not well-developed, leading to an increase in counterfeit products. Counterfeit products are a major issue for international pharmaceutical companies, since their reputation in the Vietnamese healthcare market could be hurt by similar-looking drugs that have very low quality. Development of intellectual property laws is still at an early stage in Vietnam. The lack of IP protection has deterred many international companies from setting up pharmaceutical research and development facilities in the country.

To succeed in Vietnam, international companies need to know its latest pharmaceutical regulations. Pharmaceutical products are regulated by Vietnam’s Ministry of Health. This is done through the Drug Administration of Vietnam (DAV), which is responsible for the control of drug production, distribution and circulation of pharmaceutical products in the country.

PBM’s Vietnam pharmaceutical consultants are dedicated professionals who offer expert advice for international companies looking to expand into the Vietnamese drug market. With years of experience, each of our Vietnam drug consultants has the industry insight to help you succeed.

Please contact us for further inquiries about PBM’s medical consultant services or, view PBM’s publications for more information on Vietnam’s healthcare market.