Vietnam Hospital Market to Grow at 5.92% CAGR through 2029
Public-private
partnerships and investment opportunities is expected to drive the Vietnam Hospital
Market growth in the forecast period, 2025-2029.
According to
TechSci Research report, “Vietnam Hospital Market –Industry Size, Share,
Trends, Competition, Forecast & Opportunities, 2019-2029F”, the Vietnam Hospital Market stood
at USD 8310.31 Million in
2023 and is anticipated to project steady growth in the forecast period with a
CAGR of 5.92% through
2029.
The Vietnam
Hospital Market presents a dynamic and rapidly evolving landscape characterized
by significant growth, transformation, and emerging trends. With a population
of over 97 million people and a robust economy experiencing steady growth,
Vietnam's healthcare sector is witnessing a surge in demand for hospital
services, driven by various factors ranging from demographic shifts to
technological advancements and changing consumer preferences.
One of the key
drivers of growth in the Vietnam Hospital Market is the country's demographic
profile, characterized by a youthful population with a growing middle class and
an increasingly aging demographic. Vietnam's aging population, combined with
lifestyle changes and rising income levels, is leading to a higher prevalence
of chronic diseases and age-related health conditions, driving demand for
hospital care and medical treatments. The country's urbanization trend, with a
significant portion of the population migrating to urban areas in search of
better opportunities and access to healthcare services, is contributing to the
concentration of healthcare demand in major cities and urban centers.
Technological
advancements and innovations are reshaping the Vietnam Hospital Market,
revolutionizing the way healthcare services are delivered and accessed. From
telemedicine and digital health solutions to robotic surgery and precision
medicine, hospitals in Vietnam are embracing cutting-edge technologies to
improve patient care, enhance operational efficiency, and expand service
offerings. The COVID-19 pandemic has accelerated the adoption of telehealth and
remote monitoring solutions, driving the integration of digital health into
traditional healthcare delivery models and paving the way for a more connected
and patient-centric approach to healthcare.
Vietnam's
hospital market is witnessing a growing emphasis on quality improvement,
patient safety, and accreditation standards, as hospitals strive to enhance the
quality of care and meet international benchmarks. Accreditation programs such
as Joint Commission International (JCI) accreditation are becoming increasingly
important for hospitals seeking to demonstrate their commitment to quality and
safety standards, attract medical tourists, and compete in the healthcare market.
In addition to
domestic demand, Vietnam's hospital market is also benefiting from the growing
medical tourism industry, with the country emerging as a popular destination
for international patients seeking high-quality and affordable healthcare
services. With its competitive pricing, proximity to key markets in Asia, and
reputation for quality healthcare, Vietnam is attracting medical tourists from neighboring
countries such as Cambodia, Laos, and Myanmar, as well as from further afield,
including Europe, Australia, and the United States.
Government
initiatives aimed at promoting healthcare access, improving healthcare
infrastructure, and enhancing healthcare quality are driving investment and
growth in the Vietnam Hospital Market. The government's commitment to universal
health coverage, as outlined in the Vietnam Health Strategy and the National
Strategy for Healthcare Development, is driving reforms to expand health
insurance coverage, strengthen primary healthcare services, and improve
healthcare delivery across the country. Public-private partnerships (PPPs) are
playing an increasingly important role in healthcare infrastructure
development, with the government partnering with private sector companies to
build and operate hospitals, medical centers, and specialty clinics.
The Vietnam
Hospital Market presents a dynamic and promising landscape, driven by
demographic changes, technological innovations, government initiatives, and the
growing demand for high-quality healthcare services. As the country continues
to invest in healthcare infrastructure, expand access to healthcare services,
and embrace digital health solutions, the Vietnam Hospital Market is poised for
sustained growth and transformation, offering opportunities for investors,
healthcare providers, and patients alike.
Browse over XX
market data Figures spread through XX Pages and an in-depth TOC on "Vietnam Hospital Market”
The Vietnam Hospital
Market is segmented into ownership, type, type of services, bed capacity, regional
distribution, and company.
Based on type of
services, in-patient services currently dominate over out-patient services.
This dominance is primarily driven by the country's demographic trends,
healthcare infrastructure, and disease burden. With a growing aging population
and an increasing prevalence of chronic diseases, there is a higher demand for
in-patient services, which often involve hospitalization and intensive medical
care. In-patient services encompass a wide range of healthcare interventions,
including surgeries, treatments for acute illnesses, and management of complex
medical conditions, necessitating hospital admission and round-the-clock
medical supervision. The availability of advanced medical technologies,
specialized facilities, and skilled healthcare professionals in hospitals
further contributes to the preference for in-patient services among patients
seeking comprehensive and specialized medical care. However, out-patient
services also play a crucial role in the healthcare ecosystem, particularly for
routine medical consultations, preventive care, and follow-up visits, catering
to the diverse healthcare needs of the population.
Based on region, the Central region emerges as the second dominant
region in the Vietnam Hospital Market, wielding considerable influence and
contributing significantly to the country's healthcare landscape. Comprising
provinces such as Da Nang, Hue, and Quang Nam, the Central region serves as a
vital healthcare hub, catering to the healthcare needs of a diverse and sizable
population. Several factors underpin the prominence of the Central region in
the healthcare sector. The Central region boasts a cluster of well-established
hospitals, medical centers, and specialty clinics equipped with modern
facilities and staffed by highly trained healthcare professionals. These
healthcare institutions offer a wide array of medical services, including
specialized treatments, surgical procedures, and diagnostic services, meeting
the healthcare needs of both urban and rural communities in the region.
The Central
region benefits from strategic geographic positioning and connectivity, serving
as a key transit point and healthcare destination for patients from neighboring
provinces and regions. Improved transportation infrastructure, including
highways, railways, and airports, facilitates the accessibility and mobility of
patients seeking healthcare services in the Central region, further bolstering
its status as a healthcare hub. The Central region is home to several renowned
medical universities, research institutions, and teaching hospitals, fostering
a culture of medical excellence, innovation, and knowledge exchange.
Collaborations between academia, industry, and government in the Central region
drive advancements in medical research, clinical practice, and healthcare
delivery, enhancing the quality of care and expanding the scope of healthcare
services available to patients.
Major companies
operating in Vietnam Hospital Market are:
- Hoan My Medical Corporation
- Family General Hospital
- Tam Anh General Hospital Joint Stock Company
- Vinmec Health System
- Franco-Vietnamese Hospital
- Medlatec Group
- Tam Duc Heart Hospital (HCMC)
- Thu Cuc International General Hospital
- Family Medical Practice Vietnam
- Hong Ngoc Hospital Company Limited
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“In the
foreseeable future, the Vietnam Hospital Market is poised for robust growth and
transformation, driven by a convergence of demographic shifts, technological
advancements, and evolving consumer preferences. With Vietnam's population
experiencing demographic transitions, including an aging population and rising
middle-class incomes, there will be an increased demand for healthcare
services, particularly specialized care and medical treatments. Advancements in
medical technology and digital health solutions will revolutionize healthcare
delivery, enhancing patient care, operational efficiency, and accessibility.
The emergence of medical tourism as a significant growth driver will further
fuel investment in healthcare infrastructure and service quality, positioning
Vietnam as a leading destination for medical travelers. Government initiatives
aimed at expanding health insurance coverage, promoting public-private
partnerships, and strengthening regulatory frameworks will create a conducive
environment for investment and innovation in the healthcare sector. Overall,
the future of the Vietnam Hospital Market is bright, with ample opportunities
for growth, innovation, and improved healthcare outcomes", said Mr. Karan
Chechi, Research Director of TechSci Research, a research-based management
consulting firm.
“Vietnam Hospital Market By Ownership (Public and Private), By Type (General, Multispecialty, Specialty), By Type of Services (In-Patient Services and Out-Patient Services), By Bed Capacity (Above 500 beds, 100-500 beds, up to 100 beds), By Region, Competition, Forecast and Opportunities, 2019-2029F”, has evaluated the future growth potential of Vietnam
Hospital Market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Vietnam Hospital Market.
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