Under the deal signed in Ho Chi Minh City on Wednesday, Biocodex will strengthen supply of its portfolio through Pharmacity’s rapidly expanding retail network.

In a release on Friday, Pharmacity said that in recent years, Vietnamese people have gradually become more interested in overall health, not only in terms of treatment but also in prevention, maintenance, and improvement of quality of life.

The role of the immune system, digestive health, and proactive care are emphasized. Many people are willing to invest in products with transparent origin and good ingredients, based on scientific research and produced according to international standards, the company noted.

Products from Europe, including France, are getting more attention thanks to their clear inspection process and "patient-centered" development orientation. The need for digestive support for young children, immune enhancement, cyclical women's health care, and chronic pain control in the elderly is opening up development space for specialized health care solutions, it added.

Biocodex, founded 70 years ago in France, specializes in microbiota-based treatments and consumer health products, while Pharmacity, established in 2011, operates one of Vietnam’s largest modern pharmacy chains, with 991 stores as of end-September.

Vietnam’s pharmaceutical market has grown from $2.7 billion in 2015 to an estimated $7 billion in 2025, and is projected to reach $10 billion in 2026. The country currently hosts over 238 drug manufacturing plants meeting WHO-GMP (good manufacturing practice) standards, 17 EU-GMP-certified facilities, more than 5,000 wholesale outlets, and over 62,000 retail drugstores, according to the Drug Administration of Vietnam, under the Ministry of Health.

Experts say Vietnam's over 100 million population and rapidly rising healthcare spending - which has surged 8.7 times over the past 30 years - have turned the country into an increasingly attractive destination for global pharmaceutical companies.

The $10 billion market projection for 2026 offers significant opportunities for international investors and drugmakers looking to enter or expand in Vietnam.

Under its national strategy for pharmaceutical sector development to 2030 with a vision to 2045, the country aims to elevate its drug industry to be on par with advanced peers in the region, while ensuring affordable access to medicines for its population.