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Learn more80 pages, Jan 2019
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In 2018, consumer health in Vietnam registered another strong performance, posting double-digit current value growth mainly as a result of factors such as increasing pollution, busier and more stressful lifestyles and rising consumer health awareness. According to the Ministry of Natural Resources and Environment, air pollution is becoming a serious problem in both Ho Chi Minh City and Hanoi due to exhaust fumes from more than seven million motorbikes and 600,000 cars.
Consumer health products attracted a great deal of attention from both consumers and manufacturers over the review period. In 2018, dietary supplements recorded double-digit current value growth thanks to a consumer belief that these products can help to improve their general long-term health.
In 2018, strong international manufacturers, such as Abbott Laboratories, Herbalife, GlaxoSmithKline, Sanofi and Bristol-Myers Squibb, continued to lead consumer health in Vietnam as a result of the good quality of their products, widespread distribution networks and strong relationships with chemists/pharmacies and drugstores/parapharmacies. However, with the exception of local companies such as Haugiang Pharmaceutical and Traphaco, which gained share thanks to their herbal/traditional remedies and strong marketing activities, most domestic manufacturers continued to struggle to compete with large international companies because of their limited financial resources.
In Vietnam, most consumers tend to buy medicines at a local chemist, largely out of habit, with these outlets being found in both urban and rural areas. In 2018, the pharmacy network increased dramatically, largely thanks to the strong growth of consumer health, a gradual improvement in the country’s economic performance and the rising standard of living.
Vietnam has recently become a member of various international organisations, particularly the Trans-Pacific Partnership and Asia-Pacific Economic Cooperation. In addition, according to a World Bank Report in December 2017, the Vietnamese economy is expected to continue to record strong GDP growth over the next three years.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Consumer Health industry in Vietnam with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Consumer Health industry in Vietnam, our research will save you time and money while empowering you to make informed, profitable decisions.
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This industry report originates from Passport, our Consumer Health market research database.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.