Paediatric consumer health is expected to see a strong increase in its current value growth rate in 2020 compared with earlier years of the review period, with this mainly being due to the arrival of COVID-19 in the country. Due to the pandemic, in the first half of the year the demand for paediatric consumer health products increased strongly, as parents purchased such products to have at home to make sure they had enough supplies to take them through the national lockdown.
Within paediatric consumer health, paediatric acetaminophen is expected to remain the biggest category in value terms in 2020. It is also set to see the strongest current value growth rate in this year, as acetaminophen is believed to be the best analgesic to deal with the symptoms of COVID-19.
In 2020, international players are set to continue to dominate paediatric consumer health. Amongst these, Laboratoires UPSA and Sanofi-Aventis Vietnam are the two strongest companies, and are expected to be the only ones to hold double-digit value shares in 2020.
After stockpiling due to COVID-19 is expected to lead to a higher current value growth rate for paediatric consumer health in 2020, the growth rate is expected to return to more normal levels in 2021, as consumers return to their usual purchasing patterns. Although a slowing rate of growth is expected over the forecast period, mainly due to increasing maturity, increases are still expected to remain in the double-digits, with the forecast period current value CAGR only expected to be slightly lower than the review period CAGR.
According to The General Department of Population and Family Planning, whilst there were only five provinces with low birth rates (below 2.1 children per woman) in Vietnam 10 years ago, this number had increased to 21 provinces by the end of 2019.
In the review period, local brands paid strong attention to expanding their distribution networks and running marketing activities via both online and offline channels in order to increase their brand reputation and sales amongst Vietnamese consumers. For example, in 2020 Hapacol from Haugiang Pharmaceutical advertised its products and shared tips about how to keep children healthy and reduce a fever at home during the period of COVID-19 lockdown and social distancing.
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Understand the latest market trends and future growth opportunities for the Paediatric consumer health industry in Vietnam with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
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This report originates from Passport, our Paediatric consumer health research and analysis database.
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