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.
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 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.
Key Players
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
Component
Modality
The industry is driven by three concepts, which include real-time (synchronous), store and forward (asynchronous), and others comprising remote patient monitoring, etc.
Application
Delivery Mode
Facility
End-user
Methodology for Database Creation
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Combining Secondary and Primary Research
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