(Dan Tri) – Amid rising demand for healthcare, European pharmaceutical company – STADA Group is accelerating its market expansion strategy, delivering a broad range of high-quality healthcare products adhering to GMP-EU and GMP-WHO standards to Vietnamese consumers.

STADA Pymepharco accelerates Market Coverage

According to BMI Research, Vietnam’s healthcare sector revenue in 2023 increased by 25% in 2022 compared to 2021, reaching USD 6.6 billion – significantly higher than the USD 4.7 billion in 2019. SSI Research expects the sector to maintain stable annual growth at 8%, with revenue projected to reach USD 7.2 billion in 2023.

Post-pandemic, consumers have shown a stronger interest in protecting their health, through effective, high-quality food supplements. At the same time, there is growing demand for over-the-counter (OTC) medicines for prevention and treatment through trusted pharmacy channels. According to the Vietnam Association of Functional Foods, the proportion of adults over 18 using health supplements has reached 58.5% of the population, with a national target of reaching 85% by 2027 – focused on helping consumers “understand, act, and use properly” when it comes to functional food and supplements.

To meet this surge in demand, STADA Pymepharco – a member of STADA Group, Europe’s fourth-largest pharmaceutical company with over 125 years of global experience – is rapidly expanding in the Vietnamese market. With over 30 years of local experience and strong manufacturing capabilities, STADA Pymepharco operates two GMP-EU certified production sites in Phu Yen, one of which also meets GMP-WHO standards.

Over the past two decades, Vietnam’s health supplement market has exploded, from just 60 products imported by 15 companies in 2000 to nearly 6,800 products by over 3,600 enterprises in 2018. However, according to the Vietnam Directorate of Market Surveillance, up to 60% of online advertisements are misleading, featuring false claims, or unclear origin. Nielsen’s 2019 study ranked Vietnam among the top countries globally in terms of health consciousness. In this crowded market filled with various range of products, quality has become a top priority for consumers and a key factor for their purchasing decisions.

Recognizing this shift, STADA Pymepharco, it is accelerating efforts the distribution of high-quality product portfolio through both OTC and Consumer Healthcare (CHC) channels. Rather than simply focusing on widespread availability, the company prioritizes quality and reliability, forging partnerships with reputable and trusted partners to ensure Vietnamese consumers have greater access to reliable and effective healthcare solutions.

Exclusive Distribution Partnership with GIGAMED

With the goal of bringing high-quality healthcare products closer to Vietnamese consumers, STADA Pymepharco recently signed a strategic partnership with GIGAMED. STADA Pymepharco’s representative emphasized the shared vision of both companies – placing public health and safety and at the heart of their business strategies. GIGAMED has been appointed exclusive distributor and sales partner of STADA Pymepharco in Vietnam’s retail market, thanks to its nationwide presence and wide distribution network across all 63 provinces, extensive experience, alongside partnership with reputable pharmacy chains.

 

Signing ceremony between STADA Pymepharco and GIGAMED

Moreover, Mr. Christos Gallis – Vice President of STADA Group – commenced GIGAMED’s certifications in Good Distribution Practices (GDP) and Good Storage Practices (GSP). He emphasized that GIGAMED had successfully met a wide range of stringe criteria in compliance and capabilities to become one of STADA Group and STADA Pymepharco’s strategic partners in Vietnam.

“This partnership with GIGAMED will enable STADA to capture new opportunities and accelerate the growth of our Consumer Healthcare business in Vietnam’s retail market – one of the Group’s top strategic priorities”, Mr. Christos Gallis added.

The partnership between STADA Pymepharco and GIGAMED marks a significant step forward in market access strategies, coverage management, and delivering greater added value to consumers. The synergy and shared strategic vision between two like-minded companies is expected to elevate Vietnam’s OTC and CHC sectors to new standards, by offering more EU-standard healthcare products. STADA’s product portfolio – both locally manufactured and imported from Europe – is now not only serving domestic needs but also being exported to 120 countries worldwide.

Source: Dan Tri Newspaper

Tien Thinh