Executive Summary

Oct 2019
PROSPECTS
Demand for standard eye remains as high as ever, but allergic reactions to air pollution results in higher growth for allergy eye care in 2018 and 2019

Standard eye care is the largest category within eye care, and it posted the fastest value growth over the review period. However, in 2018 and 2019 its strong value growth was slower than that of allergy air care due to exacerbated allergic reactions to air pollution in Vietnam.

Increasing number of allergic reactions requiring allergy eye care is largely attributed to air pollution on top of seasonal pollination

While allergy eye care is a far smaller category than standard eye care, its value growth exceeded that of standard eye care for the second consecutive year in 2019. Much of the increased demand for allergy eye care can be attributed to Vietnam’s high increase in traffic congestion, stirring up dust mites, rising air pollution distributing all kinds of airborne toxins and seasonal increases in airborne pollen – all of which release histamine and can cause allergic reactions presenting in itchy, watering, red and swollen eyes.

As contributing factors are not expected to change, eye care is set to see stronger growth over the forecast period

Value sales of both standard and allergic eye care are expected to post-double digit current value CAGRs over the 2019-2024 forecast period, as the environmental conditions affecting eye health in the country are not expected to abate and lifestyle trends that include extended use of the internet are expected to continue as well as increase. Vietnam’s Ministry of Communication said it aims to increase the percentage of internet users in Vietnam to 80-90% of the total population by the end of 2020.

COMPETITIVE LANDSCAPE
Rohto-Mentholatum maintains is lead in eye care with wide and strong advertising

In 2019, Rohto-Mentholatum Vietnam maintained its position as leading player within eye care in 2019. Over the review period, the company was dynamic in both marketing and expanding distribution in order to improve its value sales.

With so many strong advantages, international brands attract the most consumers despite their higher prices

International brands continue to hold the largest combined share of eye care value sales in the country, accounting for more than three quarters of the total value sales in 2019. Rohto-Mentholatum Vietnam and Pfizer Vietnam are the strongest brand names within this category.

Lacking expertise and financial resources, local players are unable to gain traction in eye care

Within eye care, as they do in the majority of consumer healthcare categories, smaller and especially domestic players continue struggling to compete with international players and brands. They do not have the expertise or the financial resources to develop or promote competitive products and their distribution networks are not nearly as wide.

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Eye Care in Vietnam

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Overview

Discover the latest market trends and uncover sources of future market growth for the Eye Care 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 Eye Care industry in Vietnam, our research will save you time and money while empowering you to make informed, profitable decisions.

The Eye Care in Vietnam market research report includes:

  • Analysis of key supply-side and demand trends
  • Detailed segmentation of international and local products
  • Historic volumes and values, company and brand market shares
  • Five year forecasts of market trends and market growth  
  • Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

  • What is the market size of Eye Care in Vietnam?
  • What are the major brands in Vietnam?
  • How are population trends affecting eye care product sales?

Why buy this report?

  • 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

This industry report originates from Passport, our Consumer Health market research database.

Eye Care in Vietnam - Category analysis

HEADLINES

PROSPECTS

Demand for standard eye remains as high as ever, but allergic reactions to air pollution results in higher growth for allergy eye care in 2018 and 2019
Increasing number of allergic reactions requiring allergy eye care is largely attributed to air pollution on top of seasonal pollination
As contributing factors are not expected to change, eye care is set to see stronger growth over the forecast period

COMPETITIVE LANDSCAPE

Rohto-Mentholatum maintains is lead in eye care with wide and strong advertising
With so many strong advantages, international brands attract the most consumers despite their higher prices
Lacking expertise and financial resources, local players are unable to gain traction in eye care

CATEGORY DATA

Table 1 Sales of Eye Care by Category: Value 2014-2019
Table 2 Sales of Eye Care by Category: % Value Growth 2014-2019
Table 3 NBO Company Shares of Eye Care: % Value 2015-2019
Table 4 LBN Brand Shares of Eye Care: % Value 2016-2019
Table 5 Forecast Sales of Eye Care by Category: Value 2019-2024
Table 6 Forecast Sales of Eye Care by Category: % Value Growth 2019-2024

Consumer Health in Vietnam - Industry Overview

EXECUTIVE SUMMARY

Strong economy and stronger demand boost value growth of consumer healthcare in Vietnam by higher double digits in 2019
Newly adopted government regulations, restrictions and inspections disrupts the stability of dietary supplements
Domestic players stand out among the many leading international players due to their command of herbal/traditional products, the largest healthcare category
In thriving economy with widening distribution, all channels perform well, with direct selling and internet retailing largely generating the highest growth
Driven by recurring and ongoing factors, consumer healthcare is set to post higher value growth over the forecast period

MARKET INDICATORS

Table 7 Consumer Expenditure on Health Goods and Medical Services: Value 2014-2019
Table 8 Life Expectancy at Birth 2014-2019

MARKET DATA

Table 9 Sales of Consumer Health by Category: Value 2014-2019
Table 10 Sales of Consumer Health by Category: % Value Growth 2014-2019
Table 11 NBO Company Shares of Consumer Health: % Value 2015-2019
Table 12 LBN Brand Shares of Consumer Health: % Value 2016-2019
Table 13 Distribution of Consumer Health by Format: % Value 2014-2019
Table 14 Distribution of Consumer Health by Format and Category: % Value 2019
Table 15 Forecast Sales of Consumer Health by Category: Value 2019-2024
Table 16 Forecast Sales of Consumer Health by Category: % Value Growth 2019-2024

APPENDIX

OTC registration and classification
Vitamins and dietary supplements registration and classification
Self-medication/self-care and preventive medicine
Switches

DEFINITIONS

SOURCES

Summary 1 Research Sources