Vietnam Digital Health Market Analysis Report 2022 to 2030

Vietnam Digital Health Market Analysis

$ 3999

Vietnam's Digital Health market is projected to grow from $xxBn in 2022 to $xxBn by 2030, registering a CAGR of xx% during the forecast period of 2022-30. The market will be driven by government support and the increasing use of technology in healthcare. The market is segmented by solution, by deployment & by end-use. Some of the major players include Jio Health, eDoctor & Thuocsi.

ID: IN10VNDH005 CATEGORY: Digital Health GEOGRAPHY: Vietnam AUTHOR: Vidhi Upadhyay

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Vietnam Digital Health Market Executive Summary

Vietnam's Digital Health market is projected to grow from $xxBn in 2022 to $xxBn by 2030, registering a CAGR of xx% during the forecast period of 2022-30. The current healthcare expenditure per capita of Vietnam saw a rise from $163.15 in 2018 to $180.72 in 2019 according to the World Health Organization Global Health Expenditure database. Healthcare expense in Vietnam rose from $16.1Bn in 2017 to $20Bn in 2021 and is expected to continue to rise in the future.

Telemedicine, which allows for remote consultations between doctors and patients, is one of the key focus areas for digital health in Vietnam. This is especially important in Vietnam, where doctors are fewer in number, particularly in rural regions. This opens the door for telemedicine to bridge the gap and improve access to healthcare. The Vietnam digital health market is classified into four major categories: health information technology, telemedicine, consumer health electronics, and healthcare big data & AI-based goods and services. These areas are currently in the initial stages of development.

The internet has become an essential aspect of Vietnamese people's lives, as evidenced by the country's increased internet penetration rate (66% of the entire population as of 2019). This has set the framework for digital development throughout all sectors of the country's socio-economic system.

vietnam digital health market analysis

Market Dynamics

Market Growth Drivers

The government's strategic plan for promoting EHRs, digitising patient data in hospitals, and establishing smart hospitals, Initiatives by the government to advance the national digital transformation programme, increasing cost and effectiveness competition among public and private health service providers both locally and regionally have said to boost the growth of digital health market in Vietnam. Moreover, increasing demand for affordable access to healthcare services driven by the ageing population, higher health awareness amongst the population, prevalence of chronic diseases and higher demand for premium quality care will supposedly drive the market in the future.

Market Restraints

Financial constraints to advancing technological infrastructure such as software required for hospital management are expensive. All the healthcare professionals would require training to be able to adopt the new digital healthcare systems which could be a potential hurdle for the practitioners in the remote regions of the country. Other concerns could include data privacy and cyber security laws for patient data protection.

Competitive Landscape

Key Players

Jio Health (VNM): The platform enables users to access a range of healthcare services such as online medicine delivery services, home care services, booking remote consultation services with doctors, booking of lab tests, and much more
eDoctor (VNM): They have launched a mobile app to aid remote consultation to patients with the practitioners. It also has a forum where people may ask doctors questions about a variety of medical conditions
Thuocsi BuyMed (VNM): It is a marketplace that connects pharmacists with pharmaceutical manufacturers and distributors
Med247 (VNM): They are an online pharmacy, doctor consultation & appointment booking platform
Medlink (VNM): They offer pharmaceutical inventory management software. The programme includes functions such as being linked to the national pharmacy GPP standard, retail pharmacy, and pharmacy chain management via online and multi-platform
WeFit (VNM): They provide an app for fitness and training centre discovery and booking app in Vietnam. Users may search for and book classes in areas such as gym, yoga, Zumba, boxing, and belly dance

Healthcare Policies and Regulatory Landscape

The National Strategy for e-Health Development: The goal of this strategy is to promote and expand the use of digital health technology in order to improve healthcare quality and availability.

In collaboration with Vietnam Social Security (VSS), the Ministry Of Health (MOH) has linked 99.5% of Vietnam's medical facilities to the VSS medical supervision system.

Reimbursement Scenario

The Vietnam Social Security (VSS) programme, run by the Vietnamese government, compensates for a portion of the expenses of healthcare services, including some digital health services. Telemedicine consultations, for example, are covered under the VSS programme, and the government encourages the adoption of e-prescriptions and electronic medical records by reimbursing the cost of the technology and training. However, reimbursement for digital health services is currently restricted and inadequate, owing to a lack of legislation and rules for digital health service reimbursement.

1. Executive Summary
1.1 Digital Health Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Digital Health Policy 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)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Digital Health Market Segmentation

The Digital Health Market is segmented as mentioned below:

By Solution (Revenue, USD Billion):

Software
Services

By Deployment (Revenue, USD Billion):

Cloud-based
On-premises

By End-use (Revenue, USD Billion):

Diagnostic Centres
Healthcare Payers
Healthcare Research Centres
Hospitals & Clinics
Nursing Care Centres
Others

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.