Vietnam Connected Healthcare Market Analysis

Vietnam Connected Healthcare Market Analysis

$ 3999

The Vietnam-connected healthcare market is projected to grow from $331.8 Mn in 2022 to $2486.65 Mn by 2030, registering a CAGR of 28.63% during the forecast period of 2022 - 2030. The main factors driving the growth would be government support, improved healthcare infrastructure, rising healthcare spending and growing demand for remote healthcare. The market is segmented by type, function and by application. Some of the major players include Viettel Group, eDoctor, Med247, Samsung, IBM and GE Healthcare.

ID: IN10VNHS004 CATEGORY: Healthcare Services GEOGRAPHY: Vietnam AUTHOR: Neha Davda

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Vietnam Connected Healthcare Market Executive Summary

The Vietnam-connected healthcare market is projected to grow from $331.8 Mn in 2022 to $2486.65 Mn by 2030, registering a CAGR of 28.63% during the forecast period of 2022 - 2030. In 2019, Vietnam's healthcare spending as a percentage of GDP increased from 5.03% to 5.25%. The current economic and demographic developments in Vietnam give enormous possibilities for the country's healthcare business.

Connected healthcare solutions enable healthcare professionals to deliver healthcare services remotely, improve disease surveillance and public health management, and increase the quality and efficiency of healthcare services.

In Vietnam, digital technology is altering healthcare. Vietnam hospitals are in the early stages of becoming smart, with an emphasis on incorporating modern technologies like HIS, LIS, PACS, and EMR. Telemedicine, artificial intelligence, and robotic applications are among the other technologies. The COVID-19 pandemic has spurred the growth of Vietnam's connected healthcare sector, as the government has supported the adoption of telemedicine and other digital health solutions to reduce infection risk and assure healthcare service continuity. The pandemic has also emphasised the significance of digital health solutions in increasing the efficiency and efficacy of healthcare services and tackling the issues of Vietnam's healthcare system.

Vietnam Connected Healthcare Market

Market Dynamics

Market Growth Drivers

The Vietnam-connected healthcare market is expected to be driven by factors such as:

  1. Government support- The Vietnamese government has actively promoted the use of digital technologies in the healthcare business, including the use of electronic medical records and telemedicine services
  2. Improved healthcare infrastructure- The Vietnamese government has made significant investments in strengthening the country's healthcare infrastructure, including the construction of new hospitals and medical institutions. This is projected to lay a solid basis for the connected healthcare market's growth
  3. Rising healthcare spending- Vietnam's healthcare spending has continually increased, owing to an ageing population, the incidence of chronic diseases, and growing public awareness of the value of healthcare. As a result, there is an increased desire for novel healthcare solutions, such as those offered by connected technologies
  4. Growing demand for remote healthcare- The COVID-19 pandemic has increased the move towards remote healthcare in Vietnam, as patients seek to avoid overcrowded hospitals and clinics. This has increased demand for telemedicine and other connected healthcare technologies, which are expected to remain popular in the post-pandemic age

Market Restraints

The following factors are expected to limit the growth of the connected healthcare market in Vietnam:

  1. Regulatory challenges- In Vietnam, there are still certain regulatory hurdles to overcome, particularly in the areas of data privacy and security. This can make implementing connected healthcare solutions that rely on sensitive patient data more complex
  2. Limited awareness- While awareness of connected healthcare solutions is expanding, a sizable segment of the population is still unfamiliar with this technology. This has the potential to limit adoption rates and delay market expansion
  3. Limited internet connectivity- Despite significant smartphone penetration, internet access in some places in Vietnam might be limited. This can make it challenging to supply connected healthcare services consistently, especially in rural locations

Competitive Landscape

Key Players

  • Viettel Group (VNM)- Viettel, a major provider of telecommunications services, has diversified into the healthcare industry. It provides a variety of online healthcare services, such as telemedicine and remote health monitoring
  • eDoctor (VNM)- eDoctor is a mobile health platform that gives patients access to a variety of healthcare services, including telemedicine, health coaching, and prescription management
  • Med247 (VNM)- Med247 is a healthcare company that runs a 24/7 network of clinics throughout Vietnam. It provides a selection of online healthcare services, such as telemedicine, health tracking, and medication delivery
  • Samsung- Samsung has introduced a number of connected healthcare solutions, such as telemedicine platforms and devices for remote patient monitoring
  • IBM- A variety of healthcare solutions, including connected healthcare, are provided by IBM Watson Health. It has introduced a number of products in Vietnam, such as telemedicine platforms and health information systems
  • GE Healthcare- A variety of connected healthcare solutions are provided by GE Healthcare, including telemedicine, remote patient monitoring, and diagnostic imaging equipment

1. Report Description of the Vietnam Connected Healthcare Market
1.1 Research Scope and Assumption
1.2 Objective of the study
1.3 Research Methodology
1.4 Reason to buy the report

2. Vietnam Connected Healthcare Market Executive Summary
2.1 Vietnam Connected Healthcare Market – Industry Snapshot & key buying criteria, 2022-2030
2.2 Market Size, Growth Prospects, and Key findings

3. Market Dynamics of Vietnam Connected Healthcare Market
3.1 Market Growth Drivers Analysis
3.2 Market Restrains Analysis

4. Vietnam Connected Healthcare Market Segmentation

4.1 By Type
4.1.1 mHealth services
4.1.2 mHealth Devices
4.1.3 E- Prescription

4.2 By Function Type
4.2.1 Remote patient monitoring
4.2.2 Clinical monitoring
4.2.3 Telemedicine
4.2.4 Others (Assisted Living)

4.3 By Application Type
4.3.1 Diagnosis and Treatment
4.3.2 Monitoring Application
4.3.3 Wellness and Prevention
4.3.4 Healthcare management
4.3.5 Others 

4.4 By End-user
4.4.1 Hospitals and Clinics
4.4.2 Home monitoring

5. Vietnam Connected Healthcare Market Share
5.1 Market Analysis, Insights, and Forecast – By Revenue

6. Competitive Landscape
6.1 Major Top Market Players

7. Key Company Profiles

7.1 Company 1
7.1.1 Overview
7.1.2 Financial Performance
7.1.3 Product & Services
7.1.4 Strategic initiatives

7.2 Company 2
7.2.1 Overview
7.2.2 Financial Performance
7.2.3 Product & Services
7.2.4 Strategic initiatives

7.3 Company 3
7.3.1 Overview
7.3.2 Financial Performance
7.3.3 Product & Services
7.3.4 Strategic initiatives

7.4 Company 4
7.4.1 Overview
7.4.2 Financial Performance
7.4.3 Product & Services
7.4.4 Strategic initiatives

7.5 Company 5
7.5.1 Overview
7.5.2 Financial Performance
7.5.3 Product & Services
7.5.4 Strategic initiatives     

8. Healthcare Policies and Regulatory Landscape
8.1 Healthcare Policies in Vietnam
8.2 Regulatory Framework in Vietnam
8.3 Pricing & Reimbursement Scenario in Vietnam Connected Healthcare Market

9. Factors Driving Future Growth
9.1 New Trends and Development Vietnam Connected Healthcare Market
9.2 Future Opportunities

10. Strategic Recommendations

Connected Healthcare Market Segmentation

By Type (Revenue, USD Billion):

Based on the Type the market is segmented into mHealth services, mHealth Devices, and E- Prescription

  • MHealth services
  • mHealth Devices
  • E- Prescription

By FunctionType (Revenue, USD Billion):

  • Remote patient monitoring
  • Clinical monitoring
  • Telemedicine
  • Others (Assisted Living)

By Application Type (Revenue, USD Billion):

  • Diagnosis and Treatment
  • Monitoring Application
  • Wellness and Prevention
  • Healthcare management
  • Others

Insights10 will provide you with the reports within 10 key parameters which are:

  1. Market Overview
  2. Market Growth Drivers & Restraints
  3. Epidemiology of Disease Type
  4. Market Segmentation
  5. Market Share
  6. Competitive Landscape
  7. Key Company Profiles
  8. Healthcare Policies & Regulatory Framework
  9. Reimbursement Scenario
  10. Factors Driving Future Growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.


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Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameters and micro indicators. The macro parameters include changes in government policies, demand and supply of the market, government intervention programs, and major market share. The micro indicators are GDP growth, market size, market volume, etc. We also understand nuances specific to each country like the US, Canada, India, Germany, etc., and have worked across 60+ countries and hence not only understand global trends but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

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The top-down approach is mainly used for new product forecasting and the bottom-up approach is used for demand estimation of any product for different countries summed up to form the total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and  Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.

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We make sure to finalize the numbers in alignment with the market research. Firstly, our internal experts ensure thorough validation and checking to ensure accurate and precise analysis and then validation is also done using a multiple-data analysis model. Two-level validation is done and entails the finalization of the report scope and the way of representation pattern.



Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analyzed and synthesized. The second series of interviews are done if necessary to check and validate. The future opportunities are analyzed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results is then, interpreted by considering the following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing the regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue/volume
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Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current, and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumption.

The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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Last updated on: 17 March 2023

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