Vietnam Dental Care Market Analysis

Vietnam Dental Care Market Executive Summary

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 Dynamics

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.

Market Restraints

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.

Competitive Landscape

Key Players

• Nha Khoa Kim
• Nha Khoa Paris Dental Group
• Nha Khoa Dang Luu
• Anna Dental Care
• Nha Khoa parkway
• Nha Khoa Lan Anh
• SaiGon BH Dental Clinic
• Westway Dental Clinic
• Viet Duc International Dental Clinic
• Serenity International Dental Centre
• Camtu Dental
• Westcoast International Dental Clinic
• The East Rose Dental
• Elite Dental Group

Healthcare Policies and Regulatory Landscape

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.