Forecast Period | 2025-2029 |
Market Size (2023) | USD 110.57 Million |
Market Size (2029) | USD 153.68 Million |
CAGR (2024-2029) | 5.60% |
Fastest Growing Segment | Services |
Largest Market | Southern Vietnam |
Market Overview
Vietnam Home Healthcare Market was valued at USD 110.57 Million in 2023 and is anticipated to project steady growth in the forecast period with a CAGR of 5.60% through 2029. Home Healthcare has emerged
as a game-changer in the field of healthcare, transforming the way diseases are
diagnosed and managed. The Vietnam's home healthcare market has experienced
significant growth and transformation in recent years, due to the rising
population due to which, there is a growing demand for personalized healthcare
services delivered in the comfort of patients' homes. The Vietnam Home Healthcare Market is witnessing a surge in demand for personalized healthcare services delivered directly to patients' homes. This demand is propelled by several key factors.
Vietnam's aging population and the increasing prevalence of chronic diseases are key drivers behind the growing demand for home healthcare services. As the population ages, there's a rising requirement for long-term care and support services, spurring the adoption of home-based healthcare solutions. Urbanization and shifting lifestyles also play a significant role in driving the demand for home healthcare services. Urban residents, particularly in major cities like Ho Chi Minh City and Hanoi, seek healthcare options that align with their fast-paced lifestyles. Also, the COVID-19 pandemic has hastened the uptake of telehealth and remote monitoring solutions, further stimulating growth in the home healthcare market.
Key Market Drivers
Growing Geriatric Population Drives Vietnam
Home Healthcare Market
As the proportion of the elderly population is
increasing, Vietnam's demographics are changing significantly. The demand for
home health care services in the country has increased as a result of this increase
in the number of older people. With an increasing emphasis on aging in place
and a desire for personalized care, the Vietnam Home Care Services Market is
propelling. Long life expectancies have been achieved due to advances in health
care, improved living conditions and lifestyle changes, provided in the home
healthcare services. According to the World Bank, Population ages 65 and above
is reported to be 9% of the total population in 2020.This demographic shift is
causing a higher prevalence of chronic diseases and age-related conditions,
necessitating specialized care and support for older adults. An overwhelming
majority of seniors express a desire to age in place, which refers to the
ability to live independently and comfortably in one's own home as they age.
Home healthcare services enable individuals to maintain their independence and
receive care tailored to their specific needs without relocating to assisted
living facilities or nursing homes. This preference for aging in place is a key
driver of the Vietnam home healthcare market. Home healthcare services provide
several advantages over institutionalized care. In particular, taking care of
the home provides a sense of familiarity, comfort and emotion wellbeing for the
elderly people. Their overall quality of life is improved when they are
surrounded by their personal possessions and maintain a social connection
within the community. In addition, home health services provide individualized
care plans to meet the specific needs of individuals. Caregivers can aid with
activities of daily living (ADLs), medication management, mobility support, and
other essential services. By tailoring the care to the specific needs of everyone,
home healthcare providers can enhance the overall well-being and health
outcomes of the elderly population and hence augmenting the growth of Vietnam
Home Healthcare Market. Recognizing the importance of home healthcare in
supporting the aging population, the Vietnam government has implemented various
initiatives to promote and improve these services. In addition, to increase the
availability of home healthcare services, the government is promoting
cooperation between governments and industry. Home Care service providers have
been incentivized to provide quality care and achieve good patient outcomes because
of the introduction of Outcome Based Performance Frameworks and commissioning
outcome frameworks, which lead to growth in Vietnam's home healthcare market.
Rising Incidence of
Target Diseases Propel Vietnam Home Healthcare Market
The Vietnam is witnessing a significant increase in
the incidence of target diseases, particularly dementia and Alzheimer's, along
with a surge in orthopedic conditions. The increasing demand for home health
services in this country is due to these health challenges. This change has
been caused by the aging population, demographic changes and advances in health
care. This trend was driven by an ageing population and the development of
medical technology. According to the Alzheimer's Society, there are around
660000 people living with dementia in Vietnam, with resultant dementia
expenditure of US$ 960 million. Specialized treatment and support, which can be
effectively delivered through home healthcare services, is often needed by
patients as their condition progresses. Orthopedic conditions, including
fractures, joint replacements, and musculoskeletal disorders, are also on the
rise in the Vietnam. Factors such as sedentary lifestyles, obesity, and an
aging population contribute to the prevalence of these diseases. Patients often
need rehabilitation and physical therapy to recover their mobility and function
following orthopedic surgery or injury. Home healthcare services have a vital
role to play in providing personalized care and facilitating recovery within
the comfort of patients' homes. Many individuals prefer receiving healthcare
services in the familiar surroundings of their own homes. Home healthcare
offers patients the opportunity to maintain their independence, dignity, and a
sense of normalcy while receiving necessary medical care. Home
healthcare services are often more cost-effective than hospital or long-term
care facility stays. By avoiding hospital readmissions and reducing the strain
on healthcare resources, home healthcare contributes to overall healthcare cost
savings, hence augmenting the growth of Vietnam Home Healthcare Market.
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Key Market Challenges
Infrastructure and Access
Infrastructure and access issues significantly
impede the growth of the home healthcare market in Vietnam. The country's
healthcare infrastructure is often inadequate to support widespread home
healthcare services, particularly in rural and remote areas where healthcare
facilities are scarce. Limited access to transportation further compounds the
problem, making it challenging for patients to receive timely care at home.
Additionally, inadequate road networks and infrastructure in certain regions
hinder the mobility of healthcare providers, exacerbating the difficulties of
reaching patients in need. Without sufficient infrastructure and access, the
expansion of home healthcare services is hampered, leaving many patients
underserved and unable to access the care they require, particularly those
living in rural and remote areas.
Lack of Awareness and Education
The lack of awareness and education presents a
significant barrier to the growth of the home healthcare market in Vietnam.
Many individuals and families may not be aware of the availability and benefits
of home healthcare services, resulting in underutilization of these valuable
resources. Misconceptions and cultural beliefs about healthcare may
further hinder acceptance and adoption. Without adequate education campaigns
and outreach efforts to inform the public about the role of home healthcare in
managing chronic conditions, facilitating rehabilitation, and improving overall
quality of life, the demand for such services remains low.
Key Market Trends
Technological Advancements
Technological advancements are poised to
significantly influence the growth of the home healthcare market in Vietnam in
the coming years. Innovations such as telemedicine platforms, remote monitoring
devices, wearable health sensors, and mobile health applications have the potential
to revolutionize the delivery of healthcare services in the home setting. These
technologies enable remote consultations with healthcare providers, real-time
monitoring of vital signs and health metrics, medication management, and
personalized care planning, enhancing the accessibility, convenience, and
quality of home healthcare services. Also, digital health solutions can
facilitate care coordination among multidisciplinary healthcare teams, improve
patient engagement and adherence to treatment plans, and empower individuals to
take a more active role in managing their health. As awareness of these
technological solutions grows and infrastructure supporting digital health
adoption improves, the integration of technology into home healthcare delivery
is expected to accelerate, driving market growth, and improving healthcare
outcomes for patients across Vietnam.
Segmental Insights
Component Insights
Based on the category of Component, Services segment dominate the Vietnam Home Healthcare Market. The service segment in the home health care market encompasses a broad spectrum of professional healthcare services, including nursing care, physical therapy, occupational therapy, and medical consultations. These services deliver valuable expertise and specialized care to patients within the comfort of their homes, addressing their unique healthcare needs and enhancing overall well-being.
Providers in the home health care market develop customized care plans tailored to meet each patient's individual needs and preferences. These personalized plans consider factors such as the patient's medical condition, treatment objectives, lifestyle, and family support system, ensuring comprehensive and efficient care delivery. Home-based healthcare services offer patients the convenience and comfort of receiving medical care in familiar surroundings. This eliminates the need for frequent hospital visits or extended stays, allowing patients to maintain their independence and quality of life while managing their health conditions.
Compared to traditional hospital-based care, home health care services often present cost-effective solutions for patients, healthcare providers, and payers. By reducing hospital admissions, readmissions, and unnecessary medical procedures, home health care services help decrease overall healthcare expenses while optimizing resource utilization and efficiency. Providers in the home health care market also offer patient education and support to promote self-management and empower patients to take charge of their health. Through educational initiatives, counseling sessions, and ongoing support, patients acquire valuable knowledge and skills to effectively manage their medical conditions, adhere to treatment plans, and make informed healthcare decisions.
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Regional Insights
Southern Vietnam dominated the home healthcare
market in Vietnam due to several key factors. The region is home to
major urban centers such as Ho Chi Minh City, which have higher population
densities and greater demand for healthcare services. Urbanization in southern
Vietnam has led to lifestyle changes, increased prevalence of chronic diseases,
and greater awareness of healthcare options, driving demand for home-based care
solutions. Additionally, the healthcare infrastructure in southern Vietnam is
more developed compared to other regions, with better access to medical
facilities, skilled healthcare professionals, and technological resources. The southern region benefits from a more robust economy and higher
levels of disposable income, allowing residents to afford home healthcare
services and related products. As a result, southern Vietnam has emerged as the
primary hub for home healthcare services, with providers and investors focusing
their efforts on meeting the growing demand in this dynamic and prosperous
region.
Key Market Players
- 3M Company
- Bayer AG
- Abbott Laboratories Inc.
- GE HealthCare Technologies Inc.
- Johnson & Johnson
Services, Inc.
- Vietnam Home Health Care
|
By
Component
|
By
Indication
|
By
Region
|
|
|
- Cardiovascular
Disorder & Hypertension
- Diabetes
& Kidney Disorders
- Neurological
& Mental Disorders
- Respiratory
Disease & COPD
- Maternal
Disorders
- Mobility
Disorders
- Cancer
- Wound
Care
- Others
|
- Southern
Vietnam
- Northern
Vietnam
- Central
Vietnam
|
Report Scope:
In this report, the Vietnam Home Healthcare Market has
been segmented into the following categories, in addition to the industry
trends which have also been detailed below:
- Vietnam
Home Healthcare Market, By Component:
- Vietnam
Home Healthcare Market, By Indication:
- Cardiovascular Disorder & Hypertension
- Diabetes & Kidney Disorder
- Neurological & Mental Disorder
- Respiratory Disease & COPD
- Maternal Disorder
- Mobility Disorder
- Cancer
- Wound Care
- Others
- Vietnam
Home Healthcare Market, By Region:
- Northern
- Southern
- Central
Competitive Landscape
Company Profiles: Detailed analysis of the major companies presents
in the Vietnam Home Healthcare Market.
Available Customizations:
Vietnam Home Healthcare Market report with
the given market data, TechSci Research offers customizations according to a
company's specific needs. The following customization options are available for
the report:
Company Information
- Detailed analysis and
profiling of additional market players (up to five).
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