Vietnam Telemedicine Market Analysis

Vietnam Telemedicine Market Analysis


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Vietnam's Telemedicine market was valued at $304 Mn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of XX% from 2022 to 2030 and will XX Mn in 2030. One of the main reasons propelling the growth of this market is the advent of advanced technologies and government initiatives. The market is segmented by end-user, product type, and Delivery mode. Some key players in this market are Viettel group, Vietnam Posts and Telecommunications Group (VNPT), FPT Group, Doctor Anywhere, BuyMed.

ID: IN10VNDH010 CATEGORY: Digital Health GEOGRAPHY: Vietnam AUTHOR: Nandini Shah

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Vietnam Telemedicine Market Executive Summary

Vietnam's Telemedicine market was valued at $304 Mn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of XX% from 2022 to 2030 and will XX Mn in 2030. According to the 2019 Revision of the World Population Prospects, Vietnam has the eighth-highest population in Asia and is the third-most populous nation in Southeast Asia with a GDP of 413.8 Bn, after Indonesia and the Philippines. According to the World Bank, Vietnam's population is rapidly getting older.

Market Dynamics

Market Growth Drivers Analysis

Launching geriatric care services can be made easier for businesses by integrating AI, machine learning, and Big Data. Therefore, it is anticipated that over the projection period, there will be a strong demand for new and cutting-edge technologies like remote patient monitoring and remote diagnosis, which will in turn fuel the expansion of the Vietnam telemedicine market. Additionally, it is anticipated that the government's increased investment in the country's healthcare infrastructure will open up the profit potential for the expansion of the telemedicine sector in Vietnam.

In the past three decades, Vietnam has experienced major demographic changes, with a decrease in the number of children under the age of 15 and an increase in those between the ages of 15 and 64. Since there is only one dependent for every two employed persons, Viet Nam is currently in a golden period of population structure.

Vietnamese millennials have made a substantial economic contribution recently, and it is anticipated that they will work hard to push the nation toward development in the years to come. Throughout the forecast period, the age range of 15 to 64 is expected to stimulate demand for consumer healthcare electronics, opening up possibilities for the expansion of the Vietnam telemedicine market. This age range also represents a favourable demographic for the adoption of cutting-edge science and technology.

Market Restraints

Non-eligible or non-listed healthcare providers may conduct incorrect coding and billing for false claims, or they might use physicians’ names and accounts to collect payments from insurance companies. Many consumers do not share confidential health details due to security and trust issues.

Competitive Landscape

Key Players

  • Viettel Group
  • Vietnam Posts and Telecommunications Group (VNPT)
  • FPT Group
  • Doctor Anywhere
  • BuyMed
  • VieVie Healthcare
  • JioHealth
  • Med247
  • eDoctor
  • MyDoc

Healthcare Policies and Regulatory Landscape

Sumitomo Corporation, a Japanese trading company, announced in September 2021 that it intends to invest tens of millions of dollars in Insmart, one of the fastest-growing managed-care companies in Vietnam, to further expand the latter's services, which will now also include telemedicine, medication counseling, and drug shipping.

Vietnam announced the opening of a Telehealth platform in August 2021 to link district-level medical facilities and facilitate access to care, particularly during COVID-19. Doctors from Cho Ray Hospital connected via telehealth 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 in front of Prime Minister Pham Minh Chinh.

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

Vietnam Telemedicine Market Segmentation

Component

  • Product
    • Hardware
    • Software
    • Others
  • Services
    • Tele-consulting
    • Tele-monitoring
    • Tele-education

Modality

The industry is driven by three concepts, which include real-time (synchronous), store and forward (asynchronous), and others comprising remote patient monitoring, etc.

  • Store and forward
  • Real-time
  • Others

Application

  • Teleradiology
  • Telepsychiatry
  • Telepathology
  • Teledermatology
  • Telecardiology
  • Others

Delivery Mode

  • Web/Mobile
  • Audio/Text-based
  • Visualized
  • Call centers

Facility

  • Tele-hospital
  • Tele-home

End-user

  • Providers
  • Payers
  • Patients
  • 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.

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Last updated on: 06 June 2023
Updated by: Dhruv Joshi

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