Vietnam Telemedicine Market Analysis

$3,000.00$7,500.00

  • Type: Service area
  • Published : February 2022
  • Region: Vietnam
  • Country: Other
  • Report ID : 5087

  • Format: PPT, PDF

Vietnam Telemedicine Market Analysis: Segmented by Component, Deployment mode, Type, Technology, Application, End-user – Growth, Market Size, Future Prospects & Competitive Analysis, 2020 – 2028

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Report Description of the Vietnam Telemedicine Market Analysis

Research Scope and Assumption

  • The report provides the market value for the base year 2020 and a yearly forecast up to 2028 in terms of revenue (USD billion)
  • The key industry dynamics, regulatory scenario, reimbursement scenario, major market trends, and drug markets are evaluated to understand their impacts on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis
  • We have used the combination of top-down and bottom-up approach for market sizing, analyzing key regional markets, dynamics, and trends for various solutions, services, and end uses
  • All market estimates and forecasts have been validated through primary interviews with the Key Industry Players (KIPs) and secondary analysis
  • Inflation has not been accounted for in order to estimate and forecast the market
  • Numbers may not add up due to rounding off

Reason to buy the report:

  • Facilitate decision-making based on strong current and forecast data for Vietnam Telemedicine Market Analysis
  • Develop strategies based on the latest regulatory framework
  • Strategically analyze micro-markets with respect to individual growth trends, future prospects, and their contribution to the market
  • Analyze competitive developments such as expansions, investments, mergers & acquisitions, new product developments, and research & developments in the Vietnam Telemedicine  Market  Analysis
  • Analyze the opportunities in the market for stakeholders and draw a competitive landscape for market leaders
  • To strategically profile key players and comprehensively analyze their market shares and core competencies
  • We have technically sound team which do a deep dive research and also provide strategy based consulting analysis

Vietnam Telemedicine Market Analysis Executive Summary

Vietnam telemedicine market has shown promising growth in historical years until 2019 and is expected to continue its growth in upcoming forecast years 2021 to 2028. Vietnam telemedicine market owes its growth to the factors like extensive research and technological advancements in the telemedicine services.

Market Size and Key Findings

The Vietnam Telemedicine Market Analysis size stood at around USD 16.1% billion in 2020 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of xx% during the forecast period.

The Vietnam telemedicine market is flourishing and projected to grow at a CAGR of 16.1% during the forecast period (2021-2028).

Market Dynamics

Market Growth Drivers Analysis

Lack of access to care and rising provider adoption of telemedicine, and surging consumer demand and patient acceptance is further driving the growth of the Vietnam telemedicine market in the upcoming five years. Additionally, rising population and their demand for the accessible healthcare services is further anticipated to drive the growth of the Vietnam telemedicine market in the next five years. Also, growing prevalence of chronic diseases and demand for efficient and effective treatment for the prevailing chronic diseases is further supporting the growth of the Vietnam telemedicine market in the future five years. Healthcare industry demands huge amount of investment through governmental and private investments, rising healthcare costs and technological innovations is also substantiating the growth of the Vietnam telemedicine market.

Market Restraints

Due to ill-equipment, insufficient numbers of doctors and health care professionals, and poor healthcare infrastructure, most rural people are required to travel long distance to access modern healthcare facilities mostly located in urban areas. To overcome this disparity in healthcare access, Telemedicine market can play a critical role. To introduce a new program, resource limitation is one of the major problems in developing countries. Although Telemedicine is started with high desire, it cannot reach its destination due to high costs, underdevelopment infrastructure, and lack of technical expertise.

Covid-19 Market Impact Analysis

The ongoing COVID-19-pandemic has created a growing demand for telemedicine in the country and has contributed to the growth of the Vietnam telemedicine market. The surging number of COVID-19 cases in the country strained the healthcare industry of the country and in the hour of need, telemedicine companies came forward. By August 2021, Vietnam was battling the fourth COVID-19 wave in the country and telemedicine startups like Docoscan offered free teleconsulting to ease the pressure on the healthcare system. Now, with the emergence of the highly transmissible Omicron variant, cases of COVID-19 are surging again and it is expected to contribute to the growth of the telemedicine market in Vietnam in the coming years.

Competitive Landscape

Key Players

Jio Health, eDoctor, Nhi Đồng 315, Med247, DOCOSAN, among others are some of the market shareholders that drive the future growth of the Vietnam telemedicine market. These market players hold larger shares of the market than the new market players. With the evolving technology, it is appropriate to say that the effective research and development of the technologically advanced instruments and methods to satisfy consumer demands would support the market growth and benefit the market players as well as the consumers.

Products in Pipeline

  • In August 2021, Vietnam announced the launch of a Telehealth platform connecting district-level healthcare facilities to make access to healthcare easier, especially during COVID-19. Prime Minister Pham Minh Chinh witnessed doctors of Cho Ray Hospital make telehealth connection with Can Gio Hospital in Ho Chi Minh City, Hau Nghia General Hospital in the southern province of Long An and Thuan An Hospital in the southern province of Binh Duong.

Notable Recent Deals

  • In late 2015, state-owned telecom operator Viettel introduced its telehealth solution to some Metropolitan hospitals in the northern part of Vietnam, offering critical diagnosis consultation and medical education research, but not including treatment.

Healthcare Policies and Regulatory Landscape

Policy changes and Reimbursement scenario

In late 2016, the Quang Ninh Department of Health had a great initiative to create a telehealth network that combined access to 24 hospitals and community healthcare centres to provide medical care to remote communities. Just a few months ago, National Hospital of Paediatrics in Hanoi has also rolled out its telehealth system. This Viettel solution is actually quite widely adopted in Vietnam and services have been extended to include remote patient monitoring.

It is a good initiative and good timing for the Vietnamese government to promote this digital transformation in the healthcare sector.

1. Report Description of the Vietnam Telemedicine Market Analysis
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 Telemedicine Market Analysis Executive Summary
2.1 Vietnam Telemedicine Market Analysis – Industry Snapshot & key buying criteria, 2020-2028
2.2 Market Size, Growth Prospects and Key findings
3. Market Dynamics of Vietnam Telemedicine Market Analysis
3.1 Market Growth Drivers Analysis
3.1.1 Rising provider adoption of telemedicine
3.1.2 Surging consumer demand
3.2 Market Restraints Analysis
3.2.1 Ill-equipment
3.2.2 Insufficient numbers of doctors
3.3 Covid-19 Market Impact Analysis
4. Vietnam Telemedicine Market Segmentation
4.1 By Component:
4.1.1 Services
4.1.2 Software
4.1.3 Hardware
4.2 By Deployment Mode:
4.2.1 Cloud
4.2.2 On-Premises
4.3 By Type:
4.3.1 Telehospital
4.3.2 Telehomes
4.3.3 Mhealth (Mobile Health)
4.4 By Technology:
4.4.1 Store & Forward
4.4.2 Real Time
4.4.3 Others
4.5 By Application:
4.5.1 Tele-Psychiatry
4.5.2 General Consultations
4.5.3 Tele-Radiology
4.5.4 Tele-Pathology
4.5.5 Others
4.6 By End-User:
4.6.1 Payer
4.6.2 Provider
4.6.3 Patients
5. Vietnam Telemedicine Market Share
5.1 Market Analysis, Insights and Forecast – By Revenue
6. Competitive Landscape
6.1 Major Top Market Players
6.2 Products in Pipeline
6.3 R&D Initiatives Telemedicine Market
6.4 Notable recent deals in Telemedicine Market
6.4.1 Joint Ventures
6.4.2 Partnerships
6.4.3 Mergers & Acquisitions
6.4.4 Strategic divestments
7. Key Company Profiles
7.1 Jio Health Company overview
Product & Services, Strategies & Financials
7.2 eDoctor Company overview
Product & Services, Strategies & Financials
7.3 Nhi Đồng 315 Company overview
Product & Services, Strategies & Financials
7.4 AMD Global Telemedicine Inc. Company overview
Product & Services, Strategies & Financials
7.5 Med247 Company overview
Product & Services, Strategies & Financials
7.6 Docosan Company overview
Product & Services, Strategies & Financials
8. Healthcare Policies and Regulatory Landscape
8.1 Policy changes and Reimbursement scenario
8.2 Government Initiatives / Intervention programs
9. Factors Driving Future Growth
9.1 New Trends and Development of Telemedicine market
9.2 Future Opportunities
10. Strategic Recommendations

Vietnam Telemedicine Market Analysis Segmentation

By Component:

The Vietnam telemedicine market is segmented by component, deployment mode, type, technology, application, end user, regional distribution, and competitive landscape. Based on component, the market is further fragmented into services, software, and hardware. Services are anticipated to hold the largest revenue shares of the market and dominate the market segment on the account of surging demand for the telemedicine services.

By Deployment mode:

Based on deployment mode, the market is further segmented on the into on-premises, cloud. On-premises deployment method is expected to register maximum revenue shares in the future five years on the account of factors like direct access to care delivery. The on-premises care can be through telephonic (mobile) or visualized care (internet video calling) giving procedures. These methods are cost effective, easier to access and more personal and comforts the patient in having assured of the care provisions through professionals.

By Type:

Based on type, the market is further bifurcated into tele-hospitals, mHealth, and tele-homes. Tele-homes are anticipated to hold the largest revenue shares of the market and assert its dominance over the market segment in the upcoming five years on the account of rapidly increasing chronic diseases. Tele-home care is a very impressive method and an innovative way to provide patient care post-op and pre-op monitoring, and telecommunications. These factors are further aiding the growth of the Vietnam telemedicine market in the next five years.

By Technology:

By technology it is based on Store & Forward, Real Time and Others

By Application:

By application it is segmented into services like telepathology, telecardiology, teleradiology, tele-dermatology, telepsychiatry, and other services have gained popularity and demand from the population and thus driving the growth of the Vietnam telemedicine market in the next five years.

By End-User:

Based on end-user, it is segmented into payer, patients and Provider.

Research Methodology

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

  1. Market overview
  2. Market growth drivers & restraints
  3. Epidemiology or 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 develop reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

Our analysis methodology involves three critical stages:

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 around 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 the high level of accuracy and consistency. The market data is analysed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, market share as well as 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:

  • Statistical Databases
  • Company Websites/Annual Reports
  • Trade Publications
  • Online Databases
  • Published Research Reports
  • Whitepapers
  • Press Releases of Key Market Players

Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameter and micro indicators. The macro parameters includes changes in government policies, demand and supply of the market, government intervention programs and major market share. The micro indicators GDP growth, market size, market volume etc. We also understand nuances specific to each country like US, Canada, India, Germany, etc. and have worked across 60+ countries and hence no 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. start with large overall market and segment different areas and bottom-up approach i.e. start with population and epidemiology and roll up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach mainly used for new product forecasting and bottom-up approach is used for demand estimation of any product for different countries summed up to form 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 North America, Europe, Asia-Pacific, and Africa for the period of 2020 to 2028. 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 the company level averages etc.

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

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analysed and synthesized. A second series of interviews are done if necessary to check and validate. The future opportunities are analysed 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 are then, interpreted by considering following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue / volume
  • Analyzing current needs and determining penetration to estimate market

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

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