On September 13, Mr. Son Phan – Project Sales Manager of Source of Asia participated in Vietnam BeautyCare Expo, featuring global businesses from Korea, China, Singapore, Europe, and India. Therefore, the event featured a wide range of healthcare and pharmaceutical products, including advanced medical equipment and consumer-focused solutions. Consequently, it highlighted the latest technological advancements and innovations in the healthcare sector.
Insights into Vietnam’s healthcare market 2024
A significant highlight was Mr. Sha’s market report on Vietnam’s healthcare sector. Consequently, his presentation emphasized Vietnam’s rapid growth and expanding opportunities within the healthcare market. Therefore, understanding these local trends is crucial for businesses looking to invest or expand in the region.
Navigating regulatory frameworks in Vietnam’s healthcare industry
Vietnam’s health supplement sector is regulated by a robust framework designed to ensure product safety and quality. Key regulations include:
- Circular No. 24/2019/TT-BYT: Regulates food additives.
- Circular No. 18/2019/TT-BYT: Guides Good Manufacturing Practices.
- Circular 43/2014/TT-BYT: Governs the management of functional foods.
- Circular No. 17/2011/TT-BYT: Issuing provisions on radioactive contamination.
- Circular No. 10/2021/TT-BYT: Lists substances banned in health protection foods.
- Food Safety Law 2010 and Decree No. 15/2018/ND-CP: Outline general food safety requirements.
- Decision 46/2007/QD-BYT: Regulation on maximum limit of biological and chemical pollution in food.
- QCVN 8-1:2011/BYT, QCVN 8-2:2011/BYT, and QCVN 8-3:2012/BYT: Set limits for mycotoxins, heavy metals, and microbiological contaminants in food.
These standards ensure that health supplements meet high safety and quality benchmarks, crucial for a market influenced by a rising middle class that demands high-quality products. Learn more about investment opportunities for foreigners in Vietnam health market.
Importance of local market insights
Our mission at the expo was to gather valuable local insights to better serve our clients. Consequently, we aim to provide comprehensive reports that reflect the latest market trends and innovations. Therefore, staying informed about local developments is essential for making strategic business decisions in the evolving healthcare market.
We are “here to get you there”, don’t hesitate to connect with us to discover more about local market insights!
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