Pharmaceutical market to record 25pct annual growth

Vietnam’s pharmaceutical market will continue to see high annual growth of 25 percent/year, reaching some $2 billion in 2012, this will be the compelling factors attracting foreign investors to pour capital into this market, according to Vietnam Pharmaceutical Management Department.

During the year 2009, the total amount of money spent on medicines was estimated at nearly $1.7 billion, up 18.9 percent year-on-year, averaging $19.17 per capita, rising $3.32 per person over the previous year and up $13.7 per person from 2001, reported general Statistic Office (GSO).

According to Vietnam Pharmaceutical Management Department, total costs for pharmaceutical will reach over $2 billion in 2012 and the figure will continue to increase.

Spending on pharmaceutical increased because people are now caring more and more about health, of which the demand on functional foods is growing nearly 30 percent.

TBKTSG

Tags: Vietnam Pharmaceutical industry

Posted by VBN on Jun 1 2010. Filed under Health & Drugs. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry