Dublin, June 07, 2023 (GLOBE NEWSWIRE) -- The "Vietnam Hospital Market Segmented By Ownership (Public v/s Private), By Type (General, Multispecialty, Specialty), By Type of Services (In-Patient Services v/s Out-Patient Services), By Bed Capacity, By Region & Competition, Forecast & Opportunities, 2018-2028F" report has been added to ResearchAndMarkets.com's offering.
Vietnam Hospital market is anticipated to witness a growth of steady CAGR of 6.20% and reach USD 11228.11 million by 2028
The hospital market in Vietnam has witnessed significant growth over the past few years, owing to several factors that have contributed to the proliferation of the healthcare industry in the country.
Chronic diseases in Vietnam are considered a major reason behind such growth. Due to the rise in patients requiring treatment and diagnosis, the prevalence of chronic and infectious diseases such as cancer, cardiovascular disease, gastrointestinal disorders, renal disorders, and urological difficulties have greatly enhanced Vietnam's hospital industry.
The hospital market in Vietnam is expected to continue growing at a rapid pace, driven by factors such as increasing demand for healthcare services, government support, rising income levels, medical tourism, increasing investment in healthcare infrastructure, and the rising prevalence of chronic diseases.
With a favorable business environment and supportive government policies, the hospital market in Vietnam presents a significant opportunity for investors and healthcare providers.
Increasing Demand for Healthcare Services
As Vietnam's economy continues to grow and the population ages, the demand for healthcare services has increased significantly. The growing middle class is becoming more health-conscious, leading to an increase in demand for healthcare services. Additionally, the country's healthcare infrastructure is expanding, resulting in better access to healthcare services.
Various factors that have led to the increasing demand for healthcare services in Vietnam
Aging population: Vietnam's population is aging rapidly, with the number of people aged 60 and above expected to increase from 12.5 million in 2020 to 25 million by 2050. This demographic shift has led to an increase in demand for healthcare services, particularly for chronic diseases that are more prevalent among older adults.
Increasing urbanization: Vietnam is rapidly urbanizing, with the proportion of the population living in urban areas expected to increase from 35% in 2020 to 50% by 2030. Urbanization is associated with lifestyle changes, such as a shift towards more sedentary jobs, which has contributed to an increase in chronic diseases such as obesity, diabetes, and hypertension.
Lifestyle changes: Vietnamese people are increasingly adopting a more Westernized lifestyle, which includes a diet high in fat and sugar, along with a sedentary lifestyle. This has led to an increase in chronic diseases such as obesity, diabetes, and hypertension, which require ongoing care and treatment.
Government Initiatives for Healthcare Industry in Vietnam
Vietnam's government has been actively promoting the development of its healthcare industry in recent years. The government has recognized the importance of a robust healthcare system in improving the country's overall well-being and supporting its growing economy.
The several initiatives that the Vietnamese government has implemented to support the healthcare industry in the country, such as Healthcare financing, public-private partnerships, development of healthcare infrastructure, and promotion of preventive healthcare, among others, are further expected to create lucrative opportunities for the growth of Vietnam Hospital Market in the coming years.
Increasing Medical Tourism in Vietnam
Vietnam has emerged as one of the leading medical tourism destinations in Southeast Asia. The country's healthcare industry has been growing rapidly, thanks to its government's initiatives to improve healthcare infrastructure and promote medical tourism. The reasons behind the increasing popularity of medical tourism in Vietnam are:
High-quality healthcare services: Vietnam's healthcare industry has made significant strides in recent years, with the country's medical facilities and services now on par with those of developed countries. Vietnamese hospitals are equipped with state-of-the-art medical equipment, and the country's healthcare professionals are highly trained and skilled. This has led to an increasing number of patients from other countries coming to Vietnam for medical treatment.
Competitive landscape
Company Profiles: Detailed analysis of the major companies present in the Vietnam Hospital Market.
- Hoan My da Nang Hospital
- Vinmec International Hospital (Vingroup Corporation) Limited
- Franco-Vietnamese Hospital
- Medlatec Hospital
- Tam Duc Cardiology Hospital JSC (TTD)
- Thu Cuc International General Hospital
- Family Medical Practice da Nang
- HONG NGOC HOSPITAL
- Phuong Dong General Hospital
- COLUMBIA ASIA (Hong Leong Group)
- Hanoi French Hospital
- Benh vien Cho Ray
Market Dynamics
Drivers
- Growing Healthcare Infrastructure
- Special Discounts and Packages
- Universal Health Coverage
Challenges
- Overburden on Public Healthcare Facilities
- Regulatory Barriers
- Limited Public-Private Partnerships
Market Trends & Developments
- Telemedicine and Digital Health
- Smart Hospital
- 3D Printing in Hospitals
Report Scope:
Vietnam Hospital Market, By Ownership:
- Public
- Private
Vietnam Hospital Market, By Type:
- General
- Multispecialty
- Specialty
Vietnam Hospital Market, By Type of Services:
- In-Patient Services
- Out-Patient Services
Vietnam Hospital Market, By Bed Capacity:
- Above 500 beds
- 100-500 beds
- Up to 100 beds
Vietnam Hospital Market, By Region:
- Southern Vietnam
- Northern Vietnam
- Central Vietnam
For more information about this report visit https://www.researchandmarkets.com/r/sfizdk
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