Vietnam Hospital Market to grow at a CAGR of 6.20% and reach USD 11228.11 million by 2028.
Special discounts and packages
offered by numerous Vietnamese Hospitals are expected to drive the growth of
the Vietnam Hospital Market in the forecast period.
According to TechSci Research
report, “Vietnam Hospital Market –Industry Size, Share, Trends,
Opportunity, and Forecast, 2018-2028F”, Vietnam Hospital market is
anticipated to grow at a CAGR of 6.20% and reach USD11228.11 million by 2028. This
can be ascribed to the increasing investment in healthcare infrastructure in
Vietnam. The number of hospital facilities and diagnostic laboratories will
rise as Vietnam's healthcare system improves nationwide. The infrastructure of
the current hospitals is also being upgraded by the Vietnamese government. The
cost of healthcare is also rising steadily in Vietnam. In 2019, it accounted
for around 6.6% of the nation's GDP, and in the years to come, this percentage
is anticipated to rise. In turn, this will open up new prospects for the
expansion of the hospital market. In addition, the government has also been
encouraging public-private partnerships in the healthcare sector. Private
investment can help improve the quality of healthcare services, bring in new
technology, and increase access to healthcare services in underserved areas.
Also, the Vietnamese government has been expanding health insurance coverage,
which has helped increase access to healthcare services for low-income
individuals. This has led to an increased demand for healthcare services and a need
for healthcare infrastructure to support it.
The healthcare industry in
Vietnam has been growing rapidly in recent years, but it still faces a number
of challenges. For example, there is a shortage of healthcare professionals in
Vietnam, particularly in rural areas. This shortage can lead to overworked
healthcare professionals and a lack of access to healthcare services for
patients. Moreover, the healthcare sector in Vietnam receives insufficient
funding, which limits its ability to provide quality healthcare services. The
government has been increasing investment in healthcare infrastructure, but
more funding is needed to support the growing demand for healthcare services.
The healthcare industry in Vietnam is also known for its corruption and bureaucracy,
which can limit access to quality healthcare services. This can make it
difficult for healthcare professionals to provide the best care for their
patients, hence hampering the overall growth of Vietnam Hospital market.
Browse over 20 market data
Figures spread through 84 Pages and an
in-depth TOC on "Vietnam Hospital Market”
Vietnam Hospital Market can be
segmented by ownership, type, type of services, bed capacity and by region.
Based on Ownership, the Vietnam
Hospital market can be divided into Public and Private. The public segment
dominated the market in 2022 with an overall share of 80.51% and is expected to
dominate the market during the forecast period. It supports the growth of
public hospitals segment, because public hospitals are typically more
affordable than private hospitals, making them the preferred choice for many
Vietnamese citizens who cannot afford private healthcare services. Public
hospitals are more widely available throughout Vietnam, especially in rural
areas. In these areas, private healthcare services may not be available or may
be too expensive for many people. Despite the dominance of public hospitals in
the healthcare industry in Vietnam, the private sector is growing rapidly. This
is due to increasing demand for higher quality, more specialized healthcare
services, as well as a growing middle class that is able to afford private
healthcare services.
Based on Type of Services, the
Vietnam Hospital market can be further segmented into In-Patient Services and
Out-Patient Services. The in-patient services segment dominated the market in
2022 with an overall market share of 59.52% and is expected to maintain its
dominance throughout the forecast period. This is so because Vietnam has a
growing elderly population, with an estimated 11% of the population being over
the age of 65. As people age, they are more likely to require in-patient
healthcare services, such as hospitalization, surgery, and rehabilitation.
Furthermore, the prevalence of chronic diseases is increasing in Vietnam, which
requires ongoing medical treatment and care. Patients with chronic diseases
often require hospitalization for monitoring, medication, and other medical
interventions. This is expected to drive the demand for in-patient services in
Vietnam. However, it is important to note that outpatient services, such as
clinics and diagnostic centers, will also play an important role in meeting the
healthcare needs of the Vietnamese population.
Major companies operating in
Vietnam Hospital Market are:
- Hoan My da Nang Hospital
- Vinmec International Hospital (Vingroup
Corporation) Limited
- Franco-Vietnamese Hospital
- Medlatec Hospital
- Tam Duc Cardiology Hospital JSC (TTD)
- Thu Cuc International General Hospital
- Family Medical Practice da Nang
- HONG NGOC HOSPITAL
- Phuong Dong General Hospital
- COLUMBIA ASIA (Hong Leong Group)
- Hanoi French Hospital
- Bệnh viện Chợ Rẫy (Cho Ray Hospital)
- Hoan My Medical Corporation (Hoan My Health
System)
- Danang Family Hospital
- Tam Anh Hospital System
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“Vietnam's healthcare sector has
been growing rapidly over the past few years, and the country is now poised to
become one of the fastest-growing healthcare markets in the world. The hospital
market, in particular, is expected to experience significant growth in the
coming years, with new trends emerging that will shape the future of the
industry. Digital healthcare technologies are also becoming increasingly
important in Vietnam's healthcare sector, as they can improve patient outcomes
and reduce healthcare costs. Many hospitals are now adopting electronic health
records (EHRs), telemedicine, and other digital technologies to improve the
efficiency of their operations and provide better care to patients. Moreover,
hospitals are now offering more preventive health services, such as health
screenings, vaccinations, and wellness programs.” said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“Vietnam
Hospital Market By Ownership (Public v/s Private), By Type
(General, Multispecialty, Specialty), By Type of Services (In-Patient Services
v/s Out-Patient Services), By Bed Capacity (Above 500 beds, 100-500 beds, Up to
100 beds), By Region, Competition, Forecast & Opportunities,
2018-2028F”, 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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