Vietnam E-Pharmacy Market to Grow Due to Technological Advancement until 2026 | TechSci Research
E-commerce popularity is driving the growth of Vietnam E-Pharmacy Market, in the forecast period, 2022-2026.
Increasing product innovations and technological advancements in the healthcare industry and their availability on the online platforms for the consumer purchases is further driving the growth of the Vietnam e-pharmacy market in the upcoming five years. Moreover, the availability of the solutions, services and products to fulfill the consumer demands and increasing prevalence of chronic diseases is further supporting the growth of the Vietnam e-pharmacy market in the next five years.
Also, surging demand for the improved patient care and patient management is substantiating the growth of the Vietnam e-pharmacy market in the future five years. Additionally, growing telemedicine network in the country is also actively influencing the consumer’s preference toward e-pharmacy thus aiding the growth of the Vietnam e-pharmacy market in the forecast years.
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The Vietnam e-pharmacy market is segmented by product type, therapy area, operating platform, competitional landscape, and regional distribution. Based on therapy area, the market is also segmented into vitamins, cold & flu, dermatology, weight loss, and others. Cold & flu drugs are anticipated to hold the largest revenue shares of the market and assert the dominance over the market segment in the upcoming five years on the account of increased pulmonary diseases and increased breathing problems.
Moreover, recent pandemic situation aided the growth of the market segment as well as the growth of the Vietnam e-pharmacy market in the next five years. Also, vitamins are anticipated to register significant growth in the upcoming five years on the account of rising concerns among the consumers regarding health. Vitamins are often administered as supplements and thus supporting the growth of the sub-segment as well as the growth of the Vietnam e-pharmacy market in the future five years.
Medcare Services and Investment co., TNHH Buymed, Long Chau & Phano Pharmacy, Jio Health, Med247, Vietskin (Gia Han Medical Services Joint Stock Company), Pharmacity, among others are some of the market shareholders that drive the future growth of the Vietnam e-pharmacy market. These market players hold larger shares of the market than the new market players.
With the evolving technology, it is appropriate to say that the effective research and development of the technologically advanced instruments and methods to satisfy consumer demands would support the market growth and benefit the market players as well as the consumers. New market players may focus on the research and development to provide such products and services that satisfies the consumer demand as well as benefits the market players in building their brand value. Other competitive strategies include mergers & acquisitions and new product developments.
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“Vietnam healthcare industry is expanding and demand for advanced technology, innovative idea, and product development is anticipated to support the growth of the Vietnam e-pharmacy market in the future five years. Adoption of e-pharmacy has improved accessibility toward drugs and other pharmaceutical products, the factor is also anticipated to aid the future growth of Vietnam e-pharmacy market in the next five years. New market players may focus on the research and development of the better raw material for the e-pharmacy manufacturing. Technological advancements are going to support their brand establishment and expand the market in future five years. Initiatives by the government and regulations & policies in support of e-pharmacy services is anticipated to further drive the market growth in the upcoming five years. Existent market player may focus on various pricing of the products and added schemes during purchases such that it influences purchase pattern of the consumers,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Vietnam E-Pharmacy Market By Product Type (Prescription Medicines v/s Over-The-Counter Medicines), By Therapy Area (Vitamins, Cold & Flu, Dermatology, Weight Loss, Others), By Operating Platform (Apps v/s Websites), By Region, Competition Forecast & Opportunities, 2026” has evaluated the future growth potential of Vietnam e-pharmacy 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 e-pharmacy market.
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