Report

The Vietnam vaccine market was valued at USD 3.59 Billion in 2024, driven by the advancements in vaccine technology and robust government initiatives in the region. The market is anticipated to grow at a CAGR of 9.60% during the forecast period of 2025-2034, with the values likely to reach USD 8.98 Billion by 2034.

Vietnam Vaccine Market Overview

The vaccine market in Vietnam is experiencing significant growth driven by the rising demand for immunization against infectious diseases. With a rapidly growing population and increasing public awareness about the importance of vaccination, the market is projected to expand steadily in the coming years. Moreover, global pharmaceutical companies like Pfizer, Sanofi, GlaxoSmithKline, and Merck are significantly contributing to the market by providing a wide range of vaccines and investing in local manufacturing.

Vietnam Vaccine Market Growth Drivers

Rising Infectious Disease Incidence to Boost Market Growth

The rising incidence of infectious diseases like dengue, influenza, hepatitis, HPV, and Rotavirus is a key factor driving the vaccine market in Vietnam. In 2023, the WHO reported over 500,000 dengue cases and 750 deaths across the Western Pacific Region, including Vietnam. As of October 3, 2024, Vietnam had confirmed 76,838 cases of dengue and 12 deaths in that year. With the increasing disease burden and a growing focus on expanding vaccination coverage, the demand for vaccines in Vietnam is expected to rise significantly in the coming years.

Vietnam Vaccine Market Trends

The market is witnessing several trends and developments to improve the current scenario. Some of the notable trends are as follows:

Increasing Awareness Initiatives to Expand Vaccination Coverage

In March 2025, the "Protect Your Baby from the First Steps" campaign was launched by UNICEF Vietnam and the Ministry of Health. This initiative indicates the growing focus on vaccination in Vietnam's healthcare sector, which is expected to boost the Vietnam vaccine market demand. The campaign raises awareness about the Rota vaccine, which prevents severe diarrhea caused by the Rotavirus, a major cause of hospitalization and child mortality in the country.

Increasing Regulatory Approvals

In September 2024, Vietnam's Ministry of Health approved Takeda's dengue vaccine, marking the first approval for a dengue vaccine in the country. Such regulatory approvals are anticipated to elevate the Vietnam vaccine market value in the forecast period. Moreover, this market trend not only supports the expansion of vaccine access but also encourages investment in vaccine research and development in the region.

Vietnam Vaccine Market Segmentation

The market report offers a detailed analysis of the market based on the following segments:

Market Breakup by Product Type

- Multivalent Vaccines
- Monovalent Vaccines

Market Breakup by Type

- Subunit Vaccines
??- Recombinant vaccines
??- Conjugate Vaccines
??- Toxoid vaccines

- Inactivated
- Live Attenuated
- mRNA vaccines
- Viral vector vaccines

Market Breakup by Route of Administration

- Oral
- Parenteral
- Nasal

Market Breakup by Disease Indication

- Viral Diseases
??- Hepatitis
??- Influenza
??- HPV
??- MMR
??- Rotavirus
??- Herpes Zoster
??- Covid-19
??- Others

- Bacterial Vaccines
??- Meningococcal Diseases
??- Pneumococcal diseases
??- DPT
??- Others

- Cancer Vaccines
- Allergy Vaccines

Market Breakup by Age

- Pediatric
- Adult

Market Breakup by End User

- Hospital Pharmacies
- Retail Pharmacies
- Government Suppliers
- Others

Vietnam Vaccine Market Share

Segmentation Based on Product Type to Witness Substantial Growth

Based on the product type, the market is segmented into multivalent and monovalent vaccines. The multivalent vaccine segment holds a substantial market share due to its broad coverage against multiple strains or types of diseases in a single dose. These vaccines are usually favored for large-scale immunization programs, such as those for diphtheria, tetanus, pertussis, and HPV. Additionally, multivalent vaccines are cost-effective and more efficient, especially in countries like Vietnam, where there is a focus on reaching large populations with limited resources.

Vietnam Vaccine Market Analysis by Region

In Vietnam, the market dynamics vary significantly across different regions, influenced by factors like population density, healthcare infrastructure, and disease prevalence. Hanoi (northern Vietnam) has well-established medical facilities and a high level of awareness about vaccinations. The region benefits from government initiatives and also reports a higher adoption of newer vaccines. Ho Chi Minh City (southern Vietnam) also holds a high market value as it serves as a critical hub for vaccine research and development, attracting multinational pharmaceutical companies.

Leading Players in the Vietnam Vaccine Market

The key features of the market report comprise patent analysis, clinical trials analysis, funding and investment analysis, and strategic initiatives by the leading players. The major companies in the market are as follows:

GlaxoSmithKline plc

GlaxoSmithKline (GSK) is a global healthcare company specializing in vaccines, medicines, and consumer health products. In Vietnam, GSK has made substantial contributions through investments in healthcare infrastructure, such as building a state-of-the-art warehouse for better vaccine storage and distribution. The company also focuses on bringing innovative vaccines to the country, thereby significantly contributing to the Vietnam vaccine market growth.

Merck & Co.

Merck & Co. is a leading healthcare company, particularly known for its vaccines and therapies in oncology, infectious diseases, and more. Merck offers vaccines for diseases like HPV, hepatitis, and influenza in Vietnam. The company works closely with local health authorities to promote disease prevention and vaccination efforts.

Sanofi

Sanofi, a multinational pharmaceutical company, focuses on the research and development of vaccines, medicines, and therapies for various health conditions. Sanofi is a key player in the Vietnam vaccine market, partnering with local entities like VNVC to produce vaccines domestically. The company provides a wide range of vaccines for preventable diseases, and its initiatives aim to improve accessibility and reduce vaccine costs across the country.

Pfizer Inc.

Pfizer Inc. is a global biopharmaceutical company, offering a wide range of innovative medicines and vaccines. In Vietnam, Pfizer is widely known for supplying millions of vaccine doses during the COVID-19 pandemic in partnership with BioNTech. Beyond COVID-19, Pfizer continues to collaborate with local partners like Vietnam Vaccine Joint Stock Company (VNVC) to improve public health, raise awareness, and ensure a steady vaccine supply.

Other key players in the market include AstraZeneca plc and Johnson & Johnson Services, Inc.

Key Questions Answered in the Vietnam Vaccine Market Report

- What was the Vietnam vaccine market value in 2024?
- What is the Vietnam vaccine market forecast outlook for 2025-2034?
- What is the market segmentation based on product type?
- What is the market segmentation based on type?
- What is the market breakup based on the route of administration?
- What is the market breakup by disease indication?
- What is the market breakup by age?
- What is the market breakup by end user?
- What major factors aid the Vietnam vaccine market demand?
- How has the market performed so far and how is it anticipated to perform in the coming years?
- What are the major drivers, opportunities, and restraints in the market?
- What are the major trends influencing the market?
- Who are the key players involved in the Vietnam vaccine market?
- What are the current unmet needs and challenges in the market?
- How are partnerships, collaborations, mergers, and acquisitions among the key market players shaping the market dynamics?