{"id":325,"date":"2026-05-13T11:52:24","date_gmt":"2026-05-13T04:52:24","guid":{"rendered":"https:\/\/minhphan.vn\/?p=325"},"modified":"2026-05-13T11:52:25","modified_gmt":"2026-05-13T04:52:25","slug":"200m-1-pharmacy","status":"publish","type":"post","link":"https:\/\/minhphan.vn\/en\/200m-1-nha-thuoc\/","title":{"rendered":"200m, 1 pharmacy!"},"content":{"rendered":"<p>This morning, while sipping coffee and scrolling through my phone, my eyes accidentally landed on a report on the Vietnamese pharmaceutical market for 2024-2025. When I read that Long Chau had surpassed 2,376 stores nationwide (I checked two weeks ago), I almost choked on my coffee. Turning to my friend sitting next to me, I blurted out, &quot;Wow, do you need to take medicine everywhere you go in our country these days? Pharmacies are popping up like coffee shops!&quot;\u201c<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/minhphan.vn\/wp-content\/uploads\/2026\/05\/image-20-1024x683.jpg\" alt=\"\" class=\"wp-image-326\" srcset=\"https:\/\/minhphan.vn\/wp-content\/uploads\/2026\/05\/image-20-1024x683.jpg 1024w, https:\/\/minhphan.vn\/wp-content\/uploads\/2026\/05\/image-20-300x200.jpg 300w, https:\/\/minhphan.vn\/wp-content\/uploads\/2026\/05\/image-20-768x512.jpg 768w, https:\/\/minhphan.vn\/wp-content\/uploads\/2026\/05\/image-20-18x12.jpg 18w, https:\/\/minhphan.vn\/wp-content\/uploads\/2026\/05\/image-20.jpg 1440w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>He laughed and said, &quot;Since you&#039;re doing the site planning, why don&#039;t you take out your toy map and take a look?&quot; So I pulled out the map and examined it. And honestly... it was even more surprising than the 2,376 stores I&#039;d seen earlier.<\/p>\n\n\n\n<p>On the map, the database of pharmacies covers the entire area, from the city center down to the districts and towns. It feels like opening Google Maps to find a Saigon coffee shop; wherever you zoom in, you see the logo. Meanwhile, according to our map statistics, the whole country currently has approximately 19,998 public and private medical facilities, including hospitals, health centers, commune health stations, and clinics.<\/p>\n\n\n\n<p>But interestingly, the major pharmacy chains don&#039;t surround the hospital as I had imagined. Around the hospital, most of the medication needs are met by the prescription pharmacy on the hospital grounds and the traditional pharmacy system that has been established for decades near the hospital entrance. This is an extremely competitive area with low profit margins; breaking into it is not easy at all.<\/p>\n\n\n\n<p>Instead of rushing into that red zone, the chains chose a different path. They targeted residential areas, major roads, and new urban areas, where people buy cold and flu medicine, headache medication, vitamins, milk for the elderly, pharmaceutical cosmetics, bandages, etc., as a daily routine. To put it humorously, pharmacies are now following the &quot;CVS model of the healthcare industry.&quot;.<\/p>\n\n\n\n<p>Looking at the broader market picture, it becomes clear why the race for pharmacy chains is so intense. According to IQVIA and BMI Research, the Vietnamese pharmaceutical market is estimated to reach approximately US$7.5\u20138 billion in 2024 and is projected to reach US$10 billion by 2026, with an annual growth rate of around 111 TP3T. While the hospital channel still accounts for the majority of revenue, the retail channel is growing rapidly thanks to the boom in modern pharmacy chains.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"669\" src=\"https:\/\/minhphan.vn\/wp-content\/uploads\/2026\/05\/image-21-1024x669.jpg\" alt=\"\" class=\"wp-image-327\" srcset=\"https:\/\/minhphan.vn\/wp-content\/uploads\/2026\/05\/image-21-1024x669.jpg 1024w, https:\/\/minhphan.vn\/wp-content\/uploads\/2026\/05\/image-21-300x196.jpg 300w, https:\/\/minhphan.vn\/wp-content\/uploads\/2026\/05\/image-21-768x502.jpg 768w, https:\/\/minhphan.vn\/wp-content\/uploads\/2026\/05\/image-21-1536x1004.jpg 1536w, https:\/\/minhphan.vn\/wp-content\/uploads\/2026\/05\/image-21-18x12.jpg 18w, https:\/\/minhphan.vn\/wp-content\/uploads\/2026\/05\/image-21.jpg 1920w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>The country currently has approximately 60,000 pharmacies (according to the Drug Administration Department - Ministry of Health), but the number of modern chain stores is only around 3,000\u20133,500, which accounts for only 5\u201361% of the market. This means the market is still very large, especially in provinces, districts, and towns \u2013 where people&#039;s incomes are increasing and the demand for healthcare is growing.<\/p>\n\n\n\n<p>In this market, LC is currently the sole player. According to FPT Retail&#039;s report, LC has surpassed 2,300 stores and is one of the few chains with significant profits, continuing to expand rapidly. Pharmacity, on the other hand, is downsizing to around 900+ stores to focus on optimizing the efficiency of each sales point. An Khang, owned by The Gioi Dien Dong, is also undergoing a major restructuring, reducing its number of stores to around 300+ from over 500 previously. Several new chains are also entering the market, especially in the Mekong Delta and Southern Vietnam.<\/p>\n\n\n\n<p>Another major boost comes from the amended Pharmacy Law, effective from July 1, 2025. The new law allows the sale of over-the-counter medications via e-commerce, provided there is a physical pharmacy, and officially recognizes the pharmacy chain model as a distinct business type. In short, from 2025 onwards, pharmacies will not only sell at the counter but also through apps, websites, and home delivery \u2013 truly an omnichannel approach for the pharmaceutical industry. Looking at the map and the data, I realize that the pharmacy chain game in Vietnam isn&#039;t really about &quot;whoever opens more wins,&quot; but rather about who understands the market better and chooses the right benchmark.<\/p>\n\n\n\n<p>The first lesson is: don&#039;t be fooled by the crowded hospital and think opening a pharmacy nearby is a sure thing. This area already has prescription pharmacies within the hospital and a whole ecosystem of traditional pharmacies that have been established for decades. The chain wasn&#039;t foolish enough to jump headfirst into that outdated battleground. They chose to go to residential areas, where the need to buy medicine, vitamins, milk, and pharmaceutical cosmetics occurs daily as a routine.<\/p>\n\n\n\n<p>The second lesson is that the pharmacy model is no longer just a drugstore, but a convenient health retail model. Over-the-counter medications are only a part of the business; the majority of profit margins lie in dietary supplements, vitamins, cosmeceuticals, and personal care products. Anyone who builds a store model that aligns with consumer behavior will naturally attract customers, just like going to a mini-supermarket.<\/p>\n\n\n\n<p>The third lesson is that the chain store race is essentially a race for systems. From choosing locations, store design, operations, technology, to online and offline sales. Opening quickly without a standard model will only make things more difficult. Opening slowly but surely, with each store profitable, is the foundation for long-term success.<\/p>\n\n\n\n<p>And the final lesson: the market is still very large. There are 60,000 pharmacies, but the chain only accounts for about 5-61% of them. This means the game has only just begun, and it&#039;s no surprise that the big players are gradually taking a bite out of the pie.<\/p>\n\n\n\n<p>This reminds me of something my former boss said 10 years ago: &quot;In about 10 years, convenience stores will replace grocery stores,&quot; and now it&#039;s happening. I think the pharmacy market will be the same.<\/p>\n\n\n\n<p>Minh Phan \u2013 Site Plus | Choosing the right location.<\/p>","protected":false},"excerpt":{"rendered":"<p>S\u00e1ng nay ng\u1ed3i u\u1ed1ng c\u00e0 ph\u00ea, tay l\u01b0\u1edbt \u0111i\u1ec7n tho\u1ea1i, m\u1eaft v\u00f4 t\u00ecnh d\u00ednh v\u00e0o m\u1ed9t b\u00e1o c\u00e1o th\u1ecb tr\u01b0\u1eddng d\u01b0\u1ee3c ph\u1ea9m Vi\u1ec7t Nam 2024\u20132025. \u0110\u1ecdc t\u1edbi \u0111o\u1ea1n Long Ch\u00e2u \u0111\u00e3 v\u01b0\u1ee3t m\u1ed1c 2.376 c\u1eeda h\u00e0ng (m\u00ecnh coi c\u00e1ch \u0111\u00e2y 2 tu\u1ea7n) tr\u00ean to\u00e0n qu\u1ed1c, m\u00ecnh su\u00fdt s\u1eb7c c\u00e0 ph\u00ea. Quay sang \u00f4ng b\u1ea1n ng\u1ed3i [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":327,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[6,5],"tags":[],"class_list":["post-325","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-phan-tich","category-tu-duy-chien-luoc"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.0 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>200m 1 nh\u00e0 thu\u1ed1c! - MinhPhan.Vn<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/minhphan.vn\/en\/200m-1-pharmacy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"200m 1 nh\u00e0 thu\u1ed1c!\" \/>\n<meta property=\"og:description\" content=\"S\u00e1ng nay ng\u1ed3i u\u1ed1ng c\u00e0 ph\u00ea, tay l\u01b0\u1edbt \u0111i\u1ec7n tho\u1ea1i, m\u1eaft v\u00f4 t\u00ecnh d\u00ednh v\u00e0o m\u1ed9t b\u00e1o c\u00e1o th\u1ecb tr\u01b0\u1eddng d\u01b0\u1ee3c ph\u1ea9m Vi\u1ec7t Nam 2024\u20132025. \u0110\u1ecdc t\u1edbi \u0111o\u1ea1n Long Ch\u00e2u \u0111\u00e3 v\u01b0\u1ee3t m\u1ed1c 2.376 c\u1eeda h\u00e0ng (m\u00ecnh coi c\u00e1ch \u0111\u00e2y 2 tu\u1ea7n) tr\u00ean to\u00e0n qu\u1ed1c, m\u00ecnh su\u00fdt s\u1eb7c c\u00e0 ph\u00ea. 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