The import of pharmaceutical products to Viet Nam has shown a consistent growth from 2013 to 2023, with the value rising from $1.9992 billion to $3.8458 billion. The year-on-year variations have fluctuated, with significant increases like the 13.82% in 2015 and more modest growth in some years such as the 3.09% in 2018. A notable decline occurred in 2022 with a drop of 5.49%. However, 2023 saw a recovery with a 3.74% increase. The compound annual growth rate (CAGR) over the last five years stands at 4.24%.
Looking ahead, the forecasts suggest steady growth in the import value of pharmaceuticals to $4.516 billion by 2028. The predicted CAGR for the next five years is 2.41%, indicating a more moderate growth rate compared to the past decade, with a total forecast growth rate of 12.64% over the five years.
Future trends to watch for include potential market adjustments due to regulatory changes, shifts in global supply chains, and changes in the domestic healthcare needs of Viet Nam. Attention should also be paid to the potential impacts of technological advancements and emerging biotech products on the import market.
