Higher demand for affordable medicine is driving the growth of the Vietnam Over The Counter (OTC) drugs Market, in the forecast period, 2023-2027F.
According to TechSci report on, “Vietnam Over The Counter (OTC) Drugs Market – By Region, Competition Forecast & Opportunities, 2027” Vietnam over the counter (OTC) drugs market is anticipated to grow with an impressive CAGR in the forecast period, 2023-2027 on the account of rapidly increasing manufacturing and production of pharmaceutical product in the country. Further, the increasing demand for affordable pharmaceutical products and surging demands for the effective treatment for the diseases, when the branded drugs are not flooding in the market, and population with weak financial status are all anticipated to drive the growth of the Vietnam over the counter (OTC) drugs market in the upcoming five years. Moreover, growing prevalence of self-medication for the sedentary diseases, and lifestyle diseases are majorly responsible for the increasing demands for the over the counter (OTC) drugs and thus support the growth of the Vietnam over the counter (OTC) drugs market in the next five years. Rising concerns among the youth population regarding their health, influences from the social norms for following beauty standards, urge for decreasing weight, have increased consumption for food supplements thus also aiding to the growth of the Vietnam over the counter (OTC) drugs market in the future five years. Moreover, sudden increase in the demand for the OTC drugs were also due to the recent pandemic situation. The consumption of painkillers, cold & flu medicines, and fever reducers increased multiple folds. Demand for the over the counter drugs increased during these times through online pharmaceutical channels too, thus ultimately aiding the growth of the Vietnam over the counter (OTC) drugs market in the future five years.
Browse over XX market data Figures spread through70 Pages and an in-depth TOC on “Vietnam Over the counter (OTC) drugs Market”
https://www.techsciresearch.com/report/vietnam-over-the-counter-otc-drugs-market/9518.html
The Vietnam over the counter (OTC) drugs market is segmented by product, route of administration, dosage forms, distribution channel, competitional landscape, and regional distribution. Based on product, the market is further segmented into cough, cold and flu; vitamins, mineral, and supplements (VMS); analgesics; gastrointestinal products; dermatology products; and others. Cough, cold and flu drugs are anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on the grounds of increasing tendencies of self-prescription among the population. Moreover, COVID-19 also plays a vital role in the upsurged demands for cough, cold and flu medicines, thereby supporting the growth of the Vietnam over the counter (OTC) drugs market in the future five years. Vitamins, minerals, and supplements (VMS) drugs are expected to hold significant shares of the market in the next five years since the number of health conscious population is increasing. Surge in the demand for health supplements and nutrient enriched tablets to support the dieting trends in the younger population further supports the growth of the Vietnam over the counter (OTC) drugs market in the forecast years.
The market is also fragmented on the basis of route of administration of the drugs into oral, topical, and parenteral. Oral route of administration is much preferred, and thus tablets, and capsules are higher in demand. Administration of the drugs through oral pathway is much easier and even monitoring the dosage of the same is also feasible. Thus, oral segment is anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years.
A partial list of major market players of the Vietnam over the counter (OTC) drugs market includes
· Sanofi-Aventis Vietnam Company
· GlaxoSmithKline Vietnam
· Reckitt Benckiser Vietnam
· Imexpharm Pharmaceutical Joint Stock Company
· DHG Pharmaceutical Joint Stock Company
· Traphaco Joint Stock Company
· Binh Dinh Pharmaceutical and Medical Equipment Joint Stock Company
· Vimedimex Medi-Pharma Joint Stock Company
· Vietnam Pharmaceutical Corporation
· Ha Tay Pharmaceutical Joint Stock Company
Download Sample Report@ https://www.techsciresearch.com/sample-report.aspx?cid=9518
Customers can also request for 10% free customization on this report.
“Increasing demands for the over the counter (OTC) drugs to overcome lifestyle diseases like diabetes, and infectious diseases like anti-inflammatory diseases, are actively driving the growth of the Vietnam over the counter (OTC) drug market in the upcoming five years. Although, the country do not have extended research sector and new drug development capabilities, the increasing demands for the self-prescribed drugs and vitamins, & supplements and recent pandemic situation has further enhanced the growth of the market in the next five years,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Vietnam Over The Counter (OTC) Drugs Market By Product (Cough, Cold and Flu; Vitamins, Mineral, and Supplements (VMS); Analgesics; Gastrointestinal Products; Dermatology Products; Others), By Route of Administration (Oral, Topical, Parenteral), By Dosage Form (Tablets, Capsules, Liquids & Solution, Creams/Lotions/Ointments, Others), By Distribution Channel (Retail Pharmacy, Hospital Pharmacy, E-Pharmacy), By Region, Competition Forecast & Opportunities, 2027” has evaluated the future growth potential of Vietnam over the counter (OTC) drugs market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Vietnam over the counter (OTC) drugs market.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]
Website: https://www.techsciresearch.com