Vietnam Vaccine Market Outlook to 2029

Vietnam Vaccine Market Overview

The Vietnam Vaccine Market is valued at USD 945 million, based on a five-year historical analysis. The market has shown consistent growth due to increased government funding under the Expanded Program on Immunization (EPI), rising private sector participation, and growing demand for life-course immunization across adult and geriatric populations. With higher awareness and income levels, the demand for paid vaccines outside EPI, such as HPV and influenza, has surged, supported by improved domestic production capacity and expanded public-private distribution networks.

The Vietnam Vaccine Market is geographically concentrated in regions like the Red River Delta and the North Central & Central Coast, driven by their large urban populations and medical infrastructure. These two regions collectively house over 5,600 healthcare facilities and account for 47% of Vietnams medical infrastructure. Major cities such as Hanoi, Hai Phong, and Da Nang act as immunization hubs due to high disease awareness, consistent public health outreach, and better access to routine and paid vaccination programs. The presence of medical universities, regulatory bodies, and supply chain readiness further reinforces their dominance in the national vaccine landscape.

The Vietnamese government has reinforced vaccine regulations under the Expanded Program on Immunization (EPI) by enhancing domestic capabilities. In 2023, the Ministry of Health committed to producing at least 20 types of vaccines through local manufacturers using 30 production technologies. Additionally, Vietnam maintains strict oversight through provincial CDCs and mandates licensing for all private and public vaccination centers, ensuring compliance with safety and quality norms across the ecosystem.

Vietnam Vaccine Market Segmentation

By Distribution Channel: Vietnam Vaccine Market is segmented by distribution channel into Public Sector and Private Sector. The public sector dominates due to the national EPI network covering all 63 provinces. Over 14,000 government-linked vaccination sites operate under CDC supervision. However, the private sector is rapidly expanding in urban areas, offering paid vaccines through hospitals and retail chains, meeting rising consumer demand for premium immunization services.

By Age Group: Vietnam Vaccine Market is segmented by age group into Pediatric, Adult, and Geriatric categories. Pediatric vaccines dominate due to high birth cohorts and mandatory early-life immunizations. Over 1.4 million births annually ensure strong recurring demand for BCG, DTP, and polio vaccines. School-based delivery programs and public campaigns further consolidate pediatric dominance, making this the most consistent segment across Vietnams immunization landscape.

Vietnam Vaccine Market Competitive Landscape

The Vietnam Vaccine market is dominated by globally established pharmaceutical companies and a few domestic leaders with state-backed advantages. Players such as MSD, GSK, and Sanofi hold leadership through their extensive vaccine portfolios, global regulatory certifications, and widespread distribution systems. Meanwhile, domestic manufacturer IVAC benefits from government support and public health programs, enhancing its local footprint. Together, these players ensure high coverage through efficient production capabilities and nationwide cold chain-enabled delivery frameworks.

Vietnam Vaccine Market Analysis

Growth Drivers

High Private Sector Involvement: Vietnams vaccine landscape is being reshaped by the emergence of over 2,660 private vaccination sites offering expanded services beyond EPI coverage. These private centers cater to rising consumer preferences for specialized vaccines, thereby broadening market access and improving immunization rates across various income segments.

Expanding Domestic Vaccine Production: The government aims to master 30 vaccine technologies and produce 20 of them domestically by 2030. This push is expected to reduce reliance on imports, stimulate local manufacturing, and meet both domestic and global standards strengthening Vietnams vaccine self-sufficiency.

Increase in Budget for EPI Program: Vietnam has significantly expanded its EPI program from 6 vaccines in 1985 to 14 by 2022. In 2024, the government allocated VND 424.5 Bn to purchase 11 types of vaccines. These initiatives indicate a consistent policy focus on immunization coverage.

Market Challenges

Urban-Rural Disparities in Healthcare Access: Vaccination efforts face a bottleneck in rural Vietnam due to limited access to healthcare professionals and high patient loads in urban hospitals. This disparity leads to lower vaccination rates in remote regions and deepens public health inequalities.

Lack of Cold Chain Facilities: Vietnams vaccine storage capacity particularly in rural areas lags behind demand. With only 16 months of storage coverage and a shortage of ~2,197 required refrigerators, cold chain constraints continue to affect vaccine distribution efficiency and lead to higher wastage.

Vietnam Vaccine Market Future Outlook

Over the next five years, the Vietnam Vaccine market is expected to grow steadily, driven by increasing private sector involvement, ongoing government support for EPI programs, and advancements in domestic vaccine production technologies. Expansion of life-course immunization programs, rising urbanization, and improved healthcare awareness will further fuel demand. Strategic collaborations, local R&D, and mRNA technology transfers are set to enhance vaccine accessibility, especially in underserved regions, ensuring broader national health coverage.

Market Opportunities

Rise in Paid Vaccination Outside EPI: Vietnam is witnessing increasing consumer interest in paid vaccines not included in the EPI. In 2022 alone, over 2,660 private vaccination facilities served rising demand for optional immunizations such as HPV, influenza, and shingles. This trend is amplified by rising income levels and urban health awareness, especially in Hanoi and Ho Chi Minh City. The shift provides long-term expansion for private retail and hospital-based vaccination programs.

Growth in Life-Course Immunization Programs: The Life-Course Immunization initiative is transforming adult vaccine coverage. Vietnams urbanization rate of 45.8%, paired with 4.6% of GDP allocated to healthcare spending in 2023 (GSO), is facilitating vaccine uptake across all age groups. Public and private centers are increasingly offering vaccines for seniors and middle-aged adults to prevent diseases such as hepatitis, pneumonia, and influenza, reflecting a major diversification of the immunization base.