Skip to main content
  1. Market Insights
  2. Health
  3. Pharmacies
  4. OTC Products

Cold & Cough Remedies (Pharmacies) - Vietnam

Vietnam
  • Revenue in the Cold & Cough Remedies market is projected to reach US$113.80m in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 10.02%, resulting in a market volume of US$183.40m by 2029.
  • In global comparison, most revenue will be generated China (US$7.83bn in 2024).
  • In relation to total population figures, per person revenues of US$1.14 are generated in 2024.

Definition:
The Cold and Cough market encompasses a range of over-the-counter (OTC) products sold through pharmacies. These products include both natural and synthetic agents designed to alleviate symptoms related to cough, cold, sore throat, expectorants, and flu-like infections. The market includes various forms of medication such as pills, syrups, lozenges, sprays, ointments, and granulates for both external and internal usage. However, the market excludes prescription medicines, products contrary to state regulations, or those not explicitly designed for cold or cough relief, such as painkillers. Some of the leading products in this market include nose sprays, Mucosolvan syrup, Grippostad C, Sinupret forte, Gelomyrtol, Dolo-Dobendan, Aspirin Complex, Bepanthen nose and eye cream, ACC Akut, Neo-Angin, Vick Vaporup, and Isla Moos. This market exclusively covers product sales through pharmacies.

Additional Information:
The Cold and Cough market comprises revenues, average revenue per capita and average revenue per pharmacy. Revenues include VAT. The market only displays B2C revenues, hence B2B and B2G revenues are not included.
For more information on the data displayed, use the info button next to the boxes.

In-Scope

  • Natural and synthetic agents
  • In the form of pills, syrups, creams, lozenges, sprays and granulate
  • Expectorants and remedies to relieve cough

Out-Of-Scope

  • Prescription medicines
  • Homeopathic remedies
  • Painkillers
  • Candy
OTC Products: market data & analysis - Cover

Market Insights report

OTC Products: market data & analysis

Study Details

    Revenue

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Jun 2024

    Source: Statista Market Insights

    Most recent update: Jun 2024

    Source: Statista Market Insights

    Most recent update: Jun 2024

    Source: Statista Market Insights

    Analyst Opinion

    The Cold & Cough Remedies (Pharmacies) market in Vietnam is experiencing significant growth and development.

    Customer preferences:
    Vietnamese customers are increasingly concerned about their health and well-being, leading to a growing demand for cold and cough remedies. This can be attributed to the rising awareness of the importance of maintaining a healthy lifestyle and the desire to prevent and treat common illnesses. Additionally, the increasing urbanization and changing lifestyles in Vietnam have resulted in higher exposure to environmental pollutants and stress, which can weaken the immune system and make individuals more susceptible to colds and coughs. As a result, there is a greater need for effective remedies to alleviate symptoms and promote recovery.

    Trends in the market:
    One of the key trends in the Cold & Cough Remedies market in Vietnam is the shift towards natural and herbal remedies. Vietnamese consumers are becoming more conscious of the potential side effects of conventional medicines and are seeking alternative options that are perceived to be safer and more sustainable. This has led to a growing demand for natural ingredients such as ginger, honey, and herbal extracts in cold and cough remedies. Manufacturers are responding to this trend by introducing products that are formulated with natural ingredients and promoting their benefits through marketing campaigns. Another trend in the market is the increasing availability and accessibility of cold and cough remedies in pharmacies. Pharmacies play a crucial role in the healthcare system in Vietnam, and they are expanding their product offerings to cater to the growing demand for over-the-counter remedies. This includes a wider range of cold and cough remedies, including tablets, syrups, and lozenges. Pharmacies are also investing in staff training to provide better advice and recommendations to customers, further driving the growth of the market.

    Local special circumstances:
    Vietnam has a tropical climate, which can contribute to the prevalence of colds and coughs throughout the year. The high humidity and temperature create an environment that is conducive to the growth and spread of viruses and bacteria. This, coupled with the crowded living conditions in urban areas, increases the likelihood of individuals contracting respiratory illnesses. As a result, the demand for cold and cough remedies remains consistently high in Vietnam.

    Underlying macroeconomic factors:
    Vietnam's economy has been growing steadily in recent years, resulting in an increase in disposable income and improved living standards. This has led to a higher willingness to spend on healthcare products, including cold and cough remedies. Furthermore, the government's focus on healthcare infrastructure development and efforts to improve access to healthcare services have also contributed to the growth of the Cold & Cough Remedies market in Vietnam. The expansion of the healthcare system, including the establishment of more pharmacies and the provision of universal healthcare coverage, has made cold and cough remedies more accessible to the general population.

    Global Comparison

    Most recent update: Jun 2024

    Source: Statista Market Insights

    Methodology

    Data coverage:

    The data encompasses B2C enterprises. Figures are based on offline and online spending by consumers, including VAT. Not included are B2B and B2G sales, or other pharmaceutical sales through hospitals or retail stores such as supermarkets.

    Modeling approach:

    Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market market. As a basis for evaluating markets, we use industry associations, third-party studies and reports and survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per country, consumer healthcare spending, GDP and internet penetration. This data helps us estimate the market size for each country individually.

    Forecasts:

    In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. For forecasting digital trends such as the online-pharmacy sales share we use exponential trend smoothing and the s-curve method. The main drivers are healthcare expenditure per country and consumer healthcare spending.

    Additional notes:

    The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. GCS data is reweighted for representativeness.

    Health

    Access more Market Insights on Health topics with our featured report

    OTC Products: market data & analysis - BackgroundOTC Products: market data & analysis - Cover

    Explore more high-quality data on related topic

    Pharma e-commerce – statistics & facts

    The global online pharmacy sector was estimated at 32 billion U.S. dollars by the end of 2023. In the United States, forecasts indicate that this figure would reach approximately 5.7 billion, solidifying its position as one of the largest online pharmacy markets. However, China dominates the pharma e-commerce industry worldwide, generating nearly 8.5 billion dollars in revenue. With China at the forefront, it is no wonder digital pharmacies make up the fastest-growing segment in the Asian digital health market.
    More data on the topic

    Contact

    Get in touch with us. We are happy to help.