Vietnam E-Pharmacy & Health E-Commerce Market

Vietnam E-Pharmacy & Health E-Commerce Market valued at USD 130 million, driven by digital health adoption, internet penetration at 79%, and rising demand for online medications and supplements.

The Vietnam E-Pharmacy & Health E-Commerce Market is valued at USD 130 million, based on a five-year historical analysis. This growth is primarily driven by the increasing adoption of digital health solutions, rising consumer demand for convenient access to medications, and the expansion of online healthcare services. The market has seen a significant shift towards e-commerce platforms, especially during the pandemic, which accelerated the trend of online shopping for health-related products. Key drivers include rapid digitalization, widespread internet penetration (with over 78 million internet users and a 79% penetration rate), and the expansion of mobile payment systems, all of which have made online health platforms more accessible and user-friendly.

Key cities such as Ho Chi Minh City and Hanoi dominate the market due to their large urban populations, higher disposable incomes, and better internet connectivity. These cities have robust infrastructure for logistics and delivery, making them ideal hubs for e-pharmacy services. Additionally, growing health awareness among consumers in these regions has further fueled demand for online health products and services. The market is also seeing increased purchases of vitamins, dietary supplements, herbal remedies, skincare, and hygiene essentials, reflecting a broader shift toward preventive and holistic healthcare.
In 2023, the Vietnamese government implemented regulations to enhance the safety and quality of e-pharmacy services. This includes the requirement for all online pharmacies to obtain a license from the Ministry of Health, ensuring compliance with national health standards. The regulation, under Circular No. 02/2023/TT-BYT issued by the Ministry of Health, mandates operational licensing, prescription verification for prescription drugs, and digital record-keeping for all transactions, aiming to protect consumers and promote the responsible use of medications in the digital marketplace.

Vietnam E-Pharmacy & Health E-Commerce Market Segmentation

By Type:

The market is segmented into various types of products, including Prescription Medications, Over-the-Counter (OTC) Products, Health Supplements, Personal Care & Beauty Products, Medical Devices & Equipment, Herbal & Traditional Medicines, Wellness & Preventive Care Products, and Others (e.g., Home Healthcare, Mother & Baby Care). Among these, Prescription Medications and Health Supplements are particularly prominent due to increasing health consciousness and the trend of self-medication. E-pharmacies are expanding their product range to include vitamins, dietary supplements, herbal remedies, and wellness products, reflecting consumer demand for preventive and holistic health solutions.

By End-User:

The end-user segmentation includes Individual Consumers, Healthcare Professionals, Hospitals and Clinics, and Corporate Clients.

Individual Consumers represent the largest segment, driven by the increasing trend of online shopping and the convenience of accessing health products from home. Healthcare Professionals and Hospitals also contribute significantly, as they increasingly rely on e-pharmacy services for patient care and medication management. The growing adoption of digital platforms by both consumers and healthcare providers is strengthening the end-user base.

Vietnam E-Pharmacy & Health E-Commerce Market Competitive Landscape

The Vietnam E-Pharmacy & Health E-Commerce Market is characterized by a dynamic mix of regional and international players. Leading participants such as Pharmacity, Long Chau Pharmacy (FPT Retail), An Khang Pharmacy (The Gioi Di Dong), Medigo, MyPharma, Jio Health, Hoan My Medical Corporation, DrugBank, TikiCare (Tiki.vn Health Vertical), Lazada Health, Shopee Health, An Phuoc Pharmacy, Phuoc An Pharmacy, Viettel Media (Viettel Solutions Health), Med247 contribute to innovation, geographic expansion, and service delivery in this space.

Vietnam E-Pharmacy & Health E-Commerce Market Industry Analysis

Growth Drivers

Increasing Internet Penetration:

Vietnam's internet penetration rate reached 75%, with approximately 77 million users accessing online services. This growth facilitates the expansion of e-pharmacy platforms, allowing consumers to easily access health products and services. The increasing availability of affordable smartphones and improved broadband infrastructure further supports this trend, enabling more individuals to engage in online health shopping, thus driving the e-pharmacy market forward.

Rising Health Awareness:

The Vietnamese population is increasingly prioritizing health, with healthcare spending projected to reach $18 billion. This shift is driven by a growing middle class and heightened awareness of health issues, leading to increased demand for health-related products. As consumers seek convenient access to medications and health services, e-pharmacies are well-positioned to meet this demand, contributing to market growth and innovation in health solutions.

Government Support for Digital Health Initiatives:

The Vietnamese government has allocated $1.2 billion to enhance digital health infrastructure. This investment aims to promote telemedicine and e-pharmacy services, ensuring regulatory frameworks support digital health solutions. By fostering an environment conducive to innovation, the government is encouraging the growth of e-pharmacies, which can leverage technology to improve service delivery and patient engagement in the healthcare sector.

Market Challenges

Regulatory Compliance Issues:

E-pharmacies in Vietnam face stringent regulatory requirements, including licensing and operational standards. As of now, only 30% of e-pharmacies comply with these regulations, leading to potential legal challenges and operational disruptions. The complex regulatory landscape can hinder market entry for new players and create barriers for existing businesses, impacting overall market growth and consumer trust in e-pharmacy services.

Trust and Security Concerns:

Consumer trust remains a significant challenge for e-pharmacies, with 60% of potential users expressing concerns about data security and product authenticity. Incidents of online fraud and counterfeit medications have increased, further exacerbating these fears. Building a secure and trustworthy online environment is crucial for e-pharmacies to attract and retain customers, as well as to foster long-term growth in the market.

Vietnam E-Pharmacy & Health E-Commerce Market Future Outlook

The future of Vietnam's e-pharmacy and health e-commerce market appears promising, driven by technological advancements and changing consumer behaviors. As digital health solutions become more integrated into everyday life, e-pharmacies are expected to enhance their service offerings, focusing on user experience and personalized care. Additionally, the collaboration between e-pharmacies and healthcare providers will likely expand, creating a more cohesive healthcare ecosystem that prioritizes patient engagement and accessibility in the coming years.

Market Opportunities

Expansion of Telehealth Services:

The telehealth sector in Vietnam is projected to grow significantly, with an estimated 12 million users. This presents a substantial opportunity for e-pharmacies to integrate telehealth services, offering consultations and prescriptions online, thereby enhancing customer convenience and expanding their service portfolio.

Growth in Mobile Health Applications:

The mobile health app market is expected to reach $400 million in Vietnam. E-pharmacies can capitalize on this trend by developing user-friendly applications that facilitate medication management, health tracking, and direct purchasing, thus improving customer engagement and loyalty in a competitive landscape.