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