Cough, Cold and Allergy (Hay

Fever) Remedies in Vietnam

Euromonitor International
September 2021
COUGH, COLD AND ALLERGY (HAY FEVER) REMEDIES IN VIETNAM Passport i

LIST OF CONTENTS AND TABLES

KEY DATA FINDINGS.................................................................................................................. 1
2021 DEVELOPMENTS ............................................................................................................... 1
Cough, cold and allergy (hay fever) remedies performs well during the pandemic................... 1
Further developments in medicated confectionery in 2021 ....................................................... 1
International companies remain the most popular led by GSK Consumer Healthcare ............. 2
PROSPECTS AND OPPORTUNITIES......................................................................................... 2
Ongoing growth for cough, cold and allergy remedies despite market maturity and A larger
vaccinated population ............................................................................................................... 2
Ongoing popularity of herbal/traditional products over the forecast period ............................... 3
A gradual improvement in demand for paediatric cough, cold and allergy (hay fever) remedies3
CATEGORY DATA ....................................................................................................................... 3
Table 1 Sales of Cough, Cold and Allergy (Hay Fever) Remedies by
Category: Value 2016-2021 ......................................................................... 3
Table 2 Sales of Cough, Cold and Allergy (Hay Fever) Remedies by
Category: % Value Growth 2016-2021......................................................... 4
Table 3 NBO Company Shares of Cough, Cold and Allergy (Hay Fever)
Remedies: % Value 2017-2021 ................................................................... 4
Table 4 LBN Brand Shares of Cough, Cold and Allergy (Hay Fever)
Remedies: % Value 2018-2021 ................................................................... 5
Table 5 Forecast Sales of Cough, Cold and Allergy (Hay Fever) Remedies by
Category: Value 2021-2026 ......................................................................... 6
Table 6 Forecast Sales of Cough, Cold and Allergy (Hay Fever) Remedies by
Category: % Value Growth 2021-2026......................................................... 7

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COUGH, COLD AND ALLERGY (HAY FEVER) REMEDIES IN VIETNAM Passport 1

COUGH, COLD AND ALLERGY (HAY

FEVER) REMEDIES IN VIETNAM
KEY DATA FINDINGS
▪ The ongoing presence of COVID-19 in the country during 2021 continues to boost demand for
cough, cold and allergy (hay fever) remedies as consumers keep these products in stock at
home
▪ Cough, cold and allergy (hay fever) remedies sees 8% retail current value growth in 2021, to
reach VND1.7 trillion
▪ Cough remedies sees the highest current value growth in 2021, with an 11% increase to
reach VND172 billion
▪ GSK Consumer Healthcare extends its lead in cough, cold and allergy (hay fever) remedies in
2021, reaching a 16% retail value share
▪ In the forecast period cough, cold and allergy (hay fever) remedies is expected to see a retail
current value CAGR of 9% (5% constant value CAGR at 2021 prices), to reach VND2.7 trillion
in 2026

2021 DEVELOPMENTS

Cough, cold and allergy (hay fever) remedies performs well during the
pandemic
In 2021, cough, cold and allergy (hay fever) remedies witnessed a strong growth rate in both
value and volume sales due to the impact of COVID-19. Consumers believed that it was
necessary for them to keep these products at home in case government controls to stem the
infection were unsuccessful. However, as Vietnam has been thus far one of the most successful
countries in controlling the COVID-19 pandemic, the impact of these buying patterns is only
likely to last in the short term.
Cough remedies experienced the strongest growth in 2021. Vietnamese consumers tend to
prefer these products as they are efficacious while coughs are considered one of the primary
symptoms of COVID-19. Nevertheless, all categories are expected to see higher growth than in
the previous year, as consumers stock up in anticipation of shortages and new infections.

Further developments in medicated confectionery in 2021

During 2021, there was a notable increase in sales of medicated confectionery in Vietnam.
Moreover, a number of companies including Nam Duoc and Nam Ha Pharmaceutical JSC
launched new products named Bo Phe Nam Ha and Cao An Phe, respectively. Both of these
have been well received by consumers who appreciate their convenience and sweet taste, with
both products suitable for children.
Much of the demand for medicated confectionery has stemmed from rising air pollution in the
country which has been exacerbated by a lack of sustainable solutions to decrease air pollution
from the government. Demand for paediatric cough/cold remedies, medicated confectionery and
combination products in particular is predicted to continue rising due to worsening air quality as
a result.

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International companies remain the most popular led by GSK Consumer

Healthcare
In the review period, international players continued to dominate cough, cold and allergy (hay
fever) remedies, led by GSK Consumer Healthcare and Sanofi-Aventis Vietnam, which are the
only players to hold double-digit value shares in 2021. Despite the higher prices of their brands,
consumers are still willing to spend on foreign brand names due to stronger belief in the quality
of these brands than local products. However, local players such as Haugiang Pharmaceutical,
Traphaco and Nam Ha Pharmaceutical have started to gain a better reputation in the market
thanks to huge efforts to launch new products and run marketing activities and campaigns.
Moreover, they have also paid strong attention to expanding their distribution networks and
running marketing activities via both online and offline channels in order to improve their brand
reputation amongst Vietnamese consumers. For example, Haugiang Pharmaceutical has
advertised its brands on television and also ran workshops to teach consumers about keeping
safe during the pandemic. Nevertheless, in 2021, GSK Consumer Healthcare with its popular
combination brand Panadol Cold & Flu, maintained its leading position in cough, cold and
allergy (hay fever) remedies in value terms. This is due to its strong brand reputation, wide
distribution network and good relationship with chemists/pharmacies and
drugstores/parapharmacies. The company is also present with the brands Zyrtec in
antihistamines/allergy remedies, Otrivin in decongestants and Sinecod in cough remedies. Over
the review period, the company advertised its products on various websites, including health
blogs, due to the strong increase in the number of internet users in Vietnam. This is expected to
help increase its value share in 2021, as consumers turn to well-known brands in the pandemic.

PROSPECTS AND OPPORTUNITIES

Ongoing growth for cough, cold and allergy remedies despite market
maturity and A larger vaccinated population
Similar to analgesics, the demand for cough, cold and allergy (hay fever) remedies is
expected to slow down gradually over the forecast period as the market matures and mass
vaccination gathers momentum from 2022. However, the category is still expected to experience
healthy growth as it is likely to take years before the pandemic is fully controlled. Moreover, one
of the main drivers of growth in the forecast period is expected to be the worsening air quality in
the country. Ho Chi Minh City and Hanoi in particular are affected by pollution from exhaust
fumes from cars, buses, lorries and motorbikes. In the last few years, air pollution became very
serious in Vietnam, according to the Ministry of Natural Resources and the Environment. This
negatively affected the health of Vietnamese consumers and led to various health problems,
including irritation of the eyes, throat and nose. Air pollution is a particular concern for babies
and young children, who have not yet developed strong immune systems. Respiratory diseases
are also amongst the five most prevalent diseases in adults in Vietnam.
Although all categories are expected to see current value and volume growth in the forecast
period, it is the largest, combination products – cough, cold and allergy (hay fever) remedies
and cough remedies that are expected to continue seeing the strongest increases. These
products are considered to be convenient, and effective against a range of symptoms. However,
demand for paediatric cough/cold remedies, medicated confectionery and combination products
in particular is predicted to keep increasing due directly to the worsening air quality.

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COUGH, COLD AND ALLERGY (HAY FEVER) REMEDIES IN VIETNAM Passport 3

Ongoing popularity of herbal/traditional products over the forecast

period
Over the review period, herbal/traditional cough, cold and allergy (hay fever) remedies
continued to receive considerable attention from Vietnamese consumers. Although sales are
rising from a low base, consumers believe that these products are safe and have fewer side
effects. This is a trend that is being seen not only in Vietnam, but also elsewhere in Southeast
Asia and all over the world. This growing demand is helping industry players to achieve above-
average growth such as domestic company Nam Ha Pharmaceutical (Naphaco), which has
gained traction and increased its value share in cough, cold and allergy (hay fever) remedies on
the strength of its herbal/traditional remedy Bo Phe Chi Khai Lo, which has a strong position in
cough remedies in 2021. As a result of consumers’ rising interest in herbal/traditional products,
more players are likely to launch such products over the forecast period.
More companies are expected to respond to the rising demand by developing and launching
their own herbal/traditional products with new ingredients or new formats to attract more
customers. For example: Nam Ha Pharmaceutical JSC with its key herbal/traditional cough
remedy Ich Nhi is one of few pharmaceutical companies to have achieved double-digit growth in
its revenue in 2020 and 2021. Over the forecast period, this trend is set to develop further as will
the syrup format and herbal/traditional medicated confectionery.

A gradual improvement in demand for paediatric cough, cold and allergy

(hay fever) remedies
Over the forecast period, paediatric cough, cold and allergy (hay fever) remedies will record a
healthy growth rate in both value and volume sales due to a gradual increase in the number of
newborn babies. Moreover, the birth rate is expected to grow slightly in the future as fewer
people moved to foreign countries due to the COVID-19 pandemic in 2020 and 2021. As a
result, companies are expected to launch more new products for children in the future.

CATEGORY DATA
Table 1 Sales of Cough, Cold and Allergy (Hay Fever) Remedies by Category: Value
2016-2021

VND billion
2016 2017 2018 2019 2020 2021

- Antihistamines/ 243.7 263.6 285.4 309.7 324.5 334.8

Allergy Remedies
(Systemic)
- Paediatric Cough, 148.2 160.1 173.7 190.5 200.0 214.0
Cold and Allergy Remedies
-- Paediatric Allergy - - - - - -
Remedies
-- Paediatric Cough/ 148.2 160.1 173.7 190.5 200.0 214.0
Cold Remedies
- Combination Products - 451.7 500.5 545.6 588.1 624.6 683.9
Cough, Cold and Allergy
(Hay Fever) Remedies
- Cough Remedies 107.1 115.4 125.2 137.4 155.2 172.3
-- Nasal Sprays 31.1 33.6 36.3 39.6 42.0 44.9
-- Oral Decongestants - - - - - -
-- Inhalant Decongestants - - - - - -
-- Decongestant Rubs - - - - - -

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COUGH, COLD AND ALLERGY (HAY FEVER) REMEDIES IN VIETNAM Passport 4

-- Nasal Decongestant 27.4 29.5 32.0 34.7 36.8 39.3

Drops
-- Nasal Decongestant - - - - - -
Plasters
- Decongestants 58.5 63.1 68.3 74.3 78.8 84.3
- Medicated Confectionery 29.0 31.6 34.8 38.6 43.0 48.1
- Pharyngeal Preparations 166.3 177.6 190.0 204.3 212.4 225.2
Cough, Cold and Allergy 1,204.6 1,312.0 1,423.1 1,542.9 1,638.5 1,762.7
(Hay Fever) Remedies
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources
Note: 2021 data is provisional and based on part-year estimates

Table 2 Sales of Cough, Cold and Allergy (Hay Fever) Remedies by Category: % Value
Growth 2016-2021

% current value growth

2020/21 2016-21 CAGR 2016/21 Total

- Antihistamines/Allergy Remedies 3.2 6.6 37.4

(Systemic)
- Paediatric Cough, Cold and Allergy 7.0 7.6 44.4
Remedies
-- Paediatric Allergy Remedies - - -
-- Paediatric Cough/Cold Remedies 7.0 7.6 44.4
- Combination Products - Cough, Cold 9.5 8.6 51.4
and Allergy (Hay Fever) Remedies
- Cough Remedies 11.0 10.0 60.9
-- Nasal Sprays 7.0 7.6 44.3
-- Oral Decongestants - - -
-- Inhalant Decongestants - - -
-- Decongestant Rubs - - -
-- Nasal Decongestant Drops 7.0 7.5 43.5
-- Nasal Decongestant Plasters - - -
- Decongestants 7.0 7.6 44.0
- Medicated Confectionery 12.0 10.7 65.9
- Pharyngeal Preparations 6.0 6.3 35.4
Cough, Cold and Allergy (Hay Fever) 7.6 7.9 46.3
Remedies
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources
Note: 2021 data is provisional and based on part-year estimates

Table 3 NBO Company Shares of Cough, Cold and Allergy (Hay Fever) Remedies: %
Value 2017-2021

% retail value rsp

Company 2017 2018 2019 2020 2021

GSK Consumer Healthcare 3.6 3.6 14.0 15.2 15.6

Sanofi-Aventis Vietnam 13.3 12.8 12.0 12.2 12.2
Co Ltd
Reckitt Benckiser Group 9.3 9.4 9.4 9.2 9.1
Plc (RB)
United Pharma (Vietnam) 7.7 7.8 7.8 8.5 8.8
Inc
Haugiang Pharmaceutical 7.6 7.9 8.0 7.8 7.7

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JSC
Merck & Co Inc 5.8 5.9 6.2 6.1 5.9
Thai Nakorn Patana Co Ltd 2.8 2.9 2.9 3.3 3.4
OPC Pharmaceutical JSC 3.9 3.9 3.9 3.4 3.3
Boehringer Ingelheim 3.3 3.1 3.1 3.1 3.1
Pharma GmbH & Co KG
Nam Ha Pharmaceutical 2.4 2.5 2.6 2.7 2.9
JSC (Naphaco)
OPV Pharmaceutical JSC 3.5 3.5 3.4 2.9 2.8
Pfizer Vietnam Co Ltd 2.6 2.5 2.4 2.2 2.2
Pharbaco - Central 1.3 1.3 1.3 1.3 1.3
Pharmaceutical JSC No 1
Perfetti Van Melle 0.7 0.7 0.7 0.7 0.8
Vietnam Ltd
Lofthouse of Fleetwood 0.6 0.6 0.7 0.7 0.7
Ltd
UPSA, Laboratoires - - 0.5 0.4 0.4
FT Pharma 0.2 0.2 0.2 0.2 0.2
Pharmaceutical JSC
Bouchara-Recordati SAS, 0.2 0.2 0.2 0.2 0.2
Laboratories
Pharmaceutical & 0.1 0.1 0.1 0.1 0.1
Medicinal Public Co
Merck Sharp & Dohme 0.2 0.2 0.2 0.1 -
(Asia) Corp
Pharmascience Inc 2.5 2.1 1.4 - -
GlaxoSmithKline Plc 9.7 9.9 - - -
Bristol-Myers Squibb Co 0.5 0.5 - - -
Servier SA 0.2 0.1 - - -
Novartis AG - - - - -
Others 18.0 18.4 19.1 19.6 19.5
Total 100.0 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 4 LBN Brand Shares of Cough, Cold and Allergy (Hay Fever) Remedies: % Value
2018-2021

% retail value rsp

Brand (GBO) Company (NBO) 2018 2019 2020 2021

Panadol GSK Consumer Healthcare - 10.2 11.5 12.0

(GlaxoSmithKline Plc)
Hapacol Cold & Flu Haugiang Pharmaceutical - 7.9 7.7 7.6
(Taisho JSC
Pharmaceutical
Holdings Co Ltd)
Decolgen (United United Pharma (Vietnam) 6.3 6.4 7.0 7.3
Laboratories Inc) Inc
Strepsils Reckitt Benckiser Group 7.3 7.4 7.3 7.3
Plc (RB)
Toplexil (Sanofi) Sanofi-Aventis Vietnam 4.5 4.4 4.5 4.5
Co Ltd
Clarityne (Bayer AG) Merck & Co Inc 4.5 4.7 4.6 4.4
Tiffy Thai Nakorn Patana Co Ltd 2.9 2.9 3.3 3.4
Acemuc (Sanofi) Sanofi-Aventis Vietnam 2.9 2.9 3.0 3.1
Co Ltd
Ameflu OPV Pharmaceutical JSC 3.4 3.3 2.9 2.8
Phenergan (Sanofi) Sanofi-Aventis Vietnam 2.7 2.5 2.5 2.5

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Co Ltd
Bisolvon (Sanofi) Boehringer Ingelheim 2.3 2.3 2.4 2.4
Pharma GmbH & Co KG
Rhinassin OPC Pharmaceutical JSC 2.8 2.7 2.3 2.2
Benadryl (Johnson & Pfizer Vietnam Co Ltd 2.3 2.2 2.2 2.2
Johnson Inc)
Zyrtec GSK Consumer Healthcare 2.0 2.0 2.0 1.9
(GlaxoSmithKline Plc)
Tussils Reckitt Benckiser Group 2.1 2.0 1.9 1.8
Plc (RB)
Otrivin GSK Consumer Healthcare 1.4 1.5 1.6 1.6
(GlaxoSmithKline Plc)
Theralene (Sanofi) Sanofi-Aventis Vietnam 1.5 1.6 1.6 1.6
Co Ltd
Atussin Syrup United Pharma (Vietnam) 1.4 1.4 1.5 1.5
(United Inc
Laboratories Inc)
Coldi Nam Ha Pharmaceutical 1.4 1.4 1.4 1.5
JSC (Naphaco)
Clarinase (Bayer AG) Merck & Co Inc 1.4 1.5 1.5 1.4
Bo Phe Chi Khai Lo Nam Ha Pharmaceutical 1.1 1.2 1.3 1.4
JSC (Naphaco)
Otilin Pharbaco - Central 1.3 1.3 1.3 1.3
Pharmaceutical JSC No 1
Golia (Perfetti Van Perfetti Van Melle 0.7 0.7 0.7 0.8
Melle Group) Vietnam Ltd
Lysopaine (Sanofi) Boehringer Ingelheim 0.8 0.8 0.7 0.7
Pharma GmbH & Co KG
HoAstex OPC Pharmaceutical JSC 0.8 0.7 0.7 0.7
Fisherman's Friend Lofthouse of Fleetwood Ltd 0.6 0.7 0.7 0.7
Rhinathiol (Sanofi) Sanofi-Aventis Vietnam 0.6 0.6 0.6 0.6
Co Ltd
Mucomyst (Taisho UPSA, Laboratoires - 0.5 0.4 0.4
Pharmaceutical
Holdings Co Ltd)
Siro Ho OPC OPC Pharmaceutical JSC 0.4 0.4 0.3 0.3
Neodexa Nasal Drops FT Pharma 0.2 0.2 0.2 0.2
Pharmaceutical JSC
Mucitux (Bayer AG) Merck Sharp & Dohme 0.2 0.2 0.1 -
(Asia) Corp
Sinecod GSK Consumer Healthcare 0.2 0.2 0.1 -
(GlaxoSmithKline Plc)
Rhumenol Pharmascience Inc 2.1 1.4 - -
Pivalone (Johnson & Pfizer Vietnam Co Ltd 0.2 0.2 - -
Johnson Inc)
Panadol GlaxoSmithKline Plc 9.9 - - -
Hapacol Cold & Flu Haugiang Pharmaceutical 7.7 - - -
JSC
Telfast (Sanofi) Sanofi-Aventis Vietnam 0.6 - - -
Co Ltd
Mucomyst Bristol-Myers Squibb Co 0.5 - - -
Others Others 19.1 19.6 20.0 19.9
Total Total 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 5 Forecast Sales of Cough, Cold and Allergy (Hay Fever) Remedies by Category:
Value 2021-2026

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COUGH, COLD AND ALLERGY (HAY FEVER) REMEDIES IN VIETNAM Passport 7

VND billion
2021 2022 2023 2024 2025 2026

- Antihistamines/ 334.8 343.0 352.9 364.8 378.8 395.2

Allergy Remedies
(Systemic)
- Paediatric Cough, 214.0 223.4 233.8 246.1 260.3 275.9
Cold and Allergy Remedies
-- Paediatric Allergy - - - - - -
Remedies
-- Paediatric Cough/ 214.0 223.4 233.8 246.1 260.3 275.9
Cold Remedies
- Combination Products - 683.9 730.3 772.6 809.7 845.5 878.0
Cough, Cold and Allergy
(Hay Fever) Remedies
- Cough Remedies 172.3 184.5 196.1 207.4 218.9 230.7
-- Nasal Sprays 44.9 46.9 49.1 51.7 54.6 57.9
-- Oral Decongestants - - - - - -
-- Inhalant Decongestants - - - - - -
-- Decongestant Rubs - - - - - -
-- Nasal Decongestant 39.3 41.1 43.0 45.3 47.9 50.9
Drops
-- Nasal Decongestant - - - - - -
Plasters
- Decongestants 84.3 87.9 92.1 97.0 102.6 108.8
- Medicated Confectionery 48.1 52.3 56.9 62.0 67.6 73.7
- Pharyngeal Preparations 225.2 232.8 241.9 253.5 266.9 281.7
Cough, Cold and Allergy 1,762.7 1,854.3 1,946.3 2,040.4 2,140.5 2,244.1
(Hay Fever) Remedies
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources
Note: 2021 data is provisional and based on part-year estimates

Table 6 Forecast Sales of Cough, Cold and Allergy (Hay Fever) Remedies by Category:
% Value Growth 2021-2026

% constant value growth

2021/2022 2021-26 CAGR 2021/26 Total

- Antihistamines/Allergy Remedies 2.4 3.4 18.0

(Systemic)
- Paediatric Cough, Cold and Allergy 4.4 5.2 28.9
Remedies
-- Paediatric Allergy Remedies - - -
-- Paediatric Cough/Cold Remedies 4.4 5.2 28.9
- Combination Products - Cough, Cold 6.8 5.1 28.4
and Allergy (Hay Fever) Remedies
- Cough Remedies 7.1 6.0 33.9
-- Nasal Sprays 4.4 5.2 28.9
-- Oral Decongestants - - -
-- Inhalant Decongestants - - -
-- Decongestant Rubs - - -
-- Nasal Decongestant Drops 4.4 5.3 29.4
-- Nasal Decongestant Plasters - - -
- Decongestants 4.4 5.2 29.1
- Medicated Confectionery 8.7 8.9 53.2
- Pharyngeal Preparations 3.4 4.6 25.1
Cough, Cold and Allergy (Hay Fever) 5.2 4.9 27.3
Remedies

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Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources
Note: 2021 data is provisional and based on part-year estimates

© Euromonitor International