Vietnam's dental care market was valued at $6.595 Bn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 10.93% from 2022 to 2030 and will reach $15.122 Bn in 2030. One of the main reasons propelling the growth of this market demand for primary and postoperative care of higher quality is technological advancement. The market is segmented by services, dental clinics, and revenue. Some key players in this market are Nha Khoa Kim, Nha Khoa Paris Dental Group, Nha Khoa Dang Luu, Anna Dental Care, etc.
The Vietnam dental care market was valued at $6.595 Bn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 10.93% from 2022 to 2030 and will reach $15.122 Bn in 2030. Vietnam is a rapidly developing market with a growing economy, a young and rapidly urbanizing population, and increasing consumer purchasing power. As for GDP, Vietnam has been one of the fastest-growing economies in Southeast Asia over the past decade, with an average annual GDP growth rate of 6.8% between 2010 and 2020. The World Bank projects that Vietnam's GDP will grow by 6.5% in 2021, and 6.7% in 2022. This steady economic growth is expected to drive the expansion of the healthcare market in Vietnam, including the dental care market.
Dental services cover a wide range of medical operations such as fillings, crowns, extractions, and root canal therapy in addition to imaging techniques and pathological investigations to detect oral problems. Vietnam's healthcare industry is continuously growing, and government initiatives to develop the sector are beneficial to both the country's citizens and medical tourists looking for access to affordable treatment. The increase in periodontitis and tooth decay will have an impact on the growth of the dental services market. The industry will also expand as a result of an increase in demand for aesthetic and cosmetic dentistry.
Market Growth Drivers
The dental care market in Vietnam is expected to grow in the future, driven by factors such as increasing awareness of oral health, a rise in the middle class with higher disposable incomes, and the government's efforts to improve access to healthcare. The market is also being boosted by an influx of foreign investment and the development of new technologies and methods. Additionally, the dental tourism industry in Vietnam is also rapidly booming, as patients from other countries are drawn to the country's lower costs and high-quality services.
Change to Subscription-Based Coverage: Subscription dental services are an answer for both patients and dentists. Regular cleanings, x-rays, and even fillings or other procedures are all included in the yearly or monthly charge for these services. They may be affordable for patients while ensuring increased profits for dental offices. The market may expand as a result of this approach with increased per capita income and insurance coverage.
The development of various oral care products that improve the appearance of teeth, as well as the increased popularity of electric toothbrushes and replacement toothbrush heads, are all factors in the expansion of the oral care market in Vietnam. The advent of the e-commerce industry has made it possible for people to buy dental care items promptly and at competitive costs.
Thus, the market for dental care in Vietnam is expanding as a result of the rising trend of online shopping and the expansion of e-commerce channels. The demand for quality and branded oral care products is also rising as a result of strong marketing campaigns, increasing government attempts to raise public knowledge of oral hygiene, and other factors.
Despite the government's efforts to improve access to healthcare, many rural and remote areas of the country still lack adequate dental care facilities. This can make it difficult for people in these areas to access the care they need. There is a shortage of trained dental professionals in Vietnam, which can make it difficult for patients to find a qualified dentist. This is particularly true in rural and remote areas, where there may be few or no trained professionals. Many people in Vietnam have limited knowledge about oral health and the importance of regular dental check-ups. This can make it difficult to encourage people to take care of their teeth and seek out dental care when needed. Many people in Vietnam lack insurance coverage for dental care, which can make it difficult for them to afford the care they need. Many dental clinics in Vietnam still use outdated equipment and technology, which can limit the range of services they can offer and affect the quality of care.
In Vietnam, The Ministry of Health is in charge of establishing dental care policies and regulations as well as managing dental professional certification and training programs. By building and modernizing dental clinics and deploying mobile dental units, the Ministry of Health also aims to increase access to dental care, particularly in rural and remote areas. The implementation of telemedicine, artificial intelligence, and big data in the healthcare sector has received significant support from the government. Also encouraged to join our foreign investors. This tendency may continue and assist Vietnam in achieving its goal of "health for all" by making dental care more affordable and accessible, which would increase demand and spur growth.
Government initiatives to raise public awareness of the benefits of oral hygiene, provide generous incentives to tourists who seek dental care in Vietnam, and provide financial aid to those pursuing higher education in dentistry will change the market dynamics for dental services in Vietnam in the future.
1. Executive Summary
1.1 Service Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Healthcare Services Market in Country
1.6 Recent Developments in the Country
2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)
3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints
4. Competitive Landscape
4.1 Major Market Share
4.2 Key Company Profile (Check all Companies in the Summary Section)
126.96.36.199 Product Applications and Services
188.8.131.52 Recent Developments
184.108.40.206 Partnerships Ecosystem
220.127.116.11 Financials (Based on Availability)
5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Services
5.3 Reimbursement Process for Treatment
6. Methodology and Scope
By Service Type
By End Users
By Dental Clinics
Insights10 will provide you with the reports within 10 key parameters which are:
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”.
Stage I: Market Data Collection
Primary Interviews: We have developed a network of experts, freelancers, and researchers across countries through which we engage with local experts to gather key data points and assumptions about each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.
Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain a high level of accuracy and consistency. The market data is analyzed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, and market share as well as a segment-level analysis of the specific market. Our report includes precise, to-the-point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.
Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:
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.
Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. starting with the large overall market and segmenting different areas and the bottom-up approach i.e. starting with population and epidemiology and rolling up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.
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.
Data Triangulation & Validation:
Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases, and company-level averages, etc.
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)
Insights: Our reports deliver actionable insights backed with supporting facts and figures to assist you in achieving exemplary growth. Our in-depth analyses are interspersed with relevant insights and statistics to oﬀer an executive-level view of a given market. The description helps in correlating many minor factors affecting the market and their impact on the different segments within the market.
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.
We value your inquiry and offer free customization with every report to fulfil your exact research needs.
This report addresses