Showing posts with label Vietnam Digital Health Industry. Show all posts
Showing posts with label Vietnam Digital Health Industry. Show all posts

Thursday, July 21, 2022

Advancing Technologies, Investment Incentives and Government Initiatives driving the Health Tech Market in Vietnam: Ken Research

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Vietnam’s medical device industry is one of the most promising sectors for foreign investment due to the country’s economic development and rising demand for adequate medical care and equipment.

Impact of Digital Technologies: In the last few years healthcare facilities in Vietnam have made significant progress towards improving and transitioning from conventional to digital technologies. Major socio-economic & demographic trends are driving changes in healthcare demand in Vietnam. Digital transformation is making an impact on Vietnam’s pharmaceutical industry, with more than 80% of total pharmacies in Vietnam, have successfully connected to a national electronic database.

Future Trends: The Health Tech Market in Vietnam is expected to grow owing to the growth in country’s population along with increase in technological advancements. The Ministry of Science and Technology, which has been vocal about prioritizing support for startup companies and businesses which focus on blockchain, through the ‘Support Innovative Startup Ecosystem in Vietnam until 2025’ National Programs and Industry 4.0 will push the market.


Increasing Digitalization:  The digital revolution in the country is likely to drive the overall market growth as more hospitals and healthcare organizations start using Health Information Technology to achieve Industry 4.0 initiative, given by the Ministry of Planning and Investment (MPI), to transform the country into a digital society by the next decade. AI and Big Data Apps are receiving strong support from the government, driving digital healthcare infrastructure and will enable new R&D with accelerated investment incentives.

Strong End User Demand: Covid 19 has accelerated e-platforms with increased internet penetration and mobile application users of e-commerce which will continue to be a trend due to convenience. High prevalence of non-communicable diseases in the country and increase in the number of hospitals, the Health Tech market is anticipated to grow in the near future.

The report titled “Vietnam Health Tech Market Outlook to 2026- Driven by Increase in Internet Penetration and Mobile Applications along with Technology Advancement in the country provides an exhaustive analysis of the Health Tech market in Vietnam. The market is expected to grow at a double digit positive CAGR owing to the increase in internet penetration rate and increased spending on healthcare due to high disease prevalence are driving the market in Vietnam. The Health Tech market GTV in Vietnam is expected to grow over the next few years due to the high demand for digital products in the country.

Key Segments Covered in the report: -

e-Pharmacy Market

By Oder Split

By Order Split

OTC Drugs

Prescribed Drugs

Non-Pharmaceutical Products and Medical Devices

By Oder Platform

Mobile Application

Web Browser

By Region

Northern Region

Central Region

Southern Region

Online Consultation Market

By Type of Doctor

General Practitioner

Specialized Doctor

By Type of Specialization

Pediatrics

Family Doctor

Dermatologist

Others (include ENT Specialist, Cardiologist, Optometrist, Psychiatrist and more)

By Region

Northern Region

Central Region

Southern Region

Health IT Solutions Market

By Type of Customization

Customized

Non- Customized

By Type of Product

HIS/LIS

Independent LIS

PMS

CMS

By Region

Northern Region

Central Region

Southern Region

Key Target Audience

Healthcare Industry

Pharmaceutical Industry

e-Pharmacy Companies

Online Consultation Companies

Health IT Solutions Companies

Hospitals & Clinics

Retail Pharmacy Drug Stores

Time Period Captured in the Report:

Historical Period: 2018-2021

Forecast Period: 2021-2026F

Companies Covered:

Pharmacity

Long Chau

Medicare

Phano Pharmacy

eDoctor

Med247

Doctor Anywhere

FPT

VNPT

Viettel Solutions

Key Topics Covered in the Report

Executive Summary of Health Tech Market in Vietnam

Vietnam Country and Healthcare Sector Overview

Vietnam Health Tech Market Overview

Major Challenges in Health Tech Market

Comprehensive Analysis on e-Pharmacy, Online Consultation and Health IT Solutions Markets (Market Size, 2018-2026F; Market Shares; Future Trends)

Major Regulations for e-Pharmacy, Online Consultation and Health IT Solutions Markets in Vietnam

Emerging Technologies in Health Tech Market

Strengths and Weaknesses of Major Health Tech Players in Vietnam

Competitive Landscape in e-Pharmacy, Online Consultation and Health IT Solutions Markets

Emerging Opportunities in Health Tech Market in Vietnam

Analyst Recommendations

For More Info on the Research Report, Click on the below link: -

Future Outlook of Vietnam Health Tech Market

Related Reports by Ken Research: -

Philippines Health Tech Market Outlook to 2025- By Service Type (E-Pharmacy, Online Consultation and Healthcare IT Solutions) and By Region (Manila, Central Luzon, Mindanao/Davao, and Others

Indonesia Health Tech Market Outlook to 2025-Lack of Medical Staff and Protective Gear to Lean on Healthcare Startups in Indonesia

Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
Support@kenresearch.com

+91-9015378249

Vietnam Health Tech Market Outlook to 2026: Ken Research

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The report titled Vietnam Health Tech Market Outlook to 2026- Driven by Increase in Internet Penetration and Mobile Applications along with Technology Advancement in the country provides an exhaustive analysis of the Health Tech market in Vietnam. The report covers overview and genesis of the industry, product wise market size; market segmentations; analysis on e-Pharmacies, Online Consultancies, Health IT Solutions; trends and developments, issues and challenges and comparative landscape including competition scenario; market shares of major companies, cross comparison and opportunities in Vietnam. The report concludes with future market projections of each product segmentation and Analyst recommendations for future investment opportunities to drive the Health Tech market and Strategies to tap the opportunities.

Vietnam Health Tech Market Overview

Vietnam Health Tech market has grown at an increasing growth rate over the period 2018-2021, supported by the increase in geriatric population in the country along with growing internet penetration and use of e-platforms. Further improvements in advanced healthcare technology will generate greater demand for Health Tech products in Vietnam. Factors such as high disease prevalence, shifting from traditional practices to digital, technological novelties, growing healthcare expenditure and improving quality of healthcare services will drive the Health Tech Market in Vietnam in the coming years.

Vietnam e-Pharmacy Market Overview and Segmentations

COVID was the biggest driver for the growth rate in Vietnam’s e-Pharmacy market which led to a massive change from traditional purchasing to e-Pharmacy platforms. Due to strict lockdowns during COVID 19, people preferred to purchase medical products on e-platforms to avoid contact with the virus which led to an increase in the sales volume of e-Pharmacies.

Vietnam Health Tech Market 

The competition was observed to be unorganized and moderately fragmented in e-Pharmacy with Pharmacity and Long Chau contributing the maximum market share. Key competitive parameters include price, business model, delivery options, availability of brands and retail partners. The market is majorly dominated by e-Pharmacy compared to the other two markets.

A shift of unorganized business to organized players, rapid technological advancements with increased use of internet and e-commerce platforms, is likely for e-Pharmacy Market Size to grow at CAGR 29.5% from 2021-2026F, benefiting large no of organized players and consumers at a win-win situation.

By Order Split: The market is dominated by OTC Drugs it’s a common practice in Vietnam for people to buy non-prescribed medicine.

By Order Platform: The market is conquered by Web Browser. Growing internet penetration, increasing LTE infrastructure adoption, and rising subscription in social media are some of the key factors driving the growth of the market.

By Region: Market is concentrated in the Southern Region as most of the retail pharmacies and drug stores are clustered in this region.

Vietnam Online Consultation Market Overview and Segmentations

Players of Online Consulting have entered the healthcare market with the advent of the outbreak of pandemic bringing ease, convenience and to maintain better management of personal health. Online Consulting sector has been snowballing over the last two years especially in the urban due to access of good technology and infra-advancement and is to gradually tap the rural and remote areas.

The competition was observed to be unorganized and moderately fragmented with top players eDoctor, Med247 and DoctorAnywhere contributing the maximum market share. Key competitive parameters include fees, subscription, mode of consultation, cancellation and rescheduling and type of doctors and their availability.

With rapid technological spreads and e-platforms, it is prospective for Online consultation Market Size to grow at a double digit CAGR from 2021-2026F. Increased investment from the government to develop & reinforcing the healthcare infrastructure of the country is expected to create lucrative opportunities for the growth of the telemedicine market in Vietnam.

Request for Sample Report: - https://www.kenresearch.com/sample-report.php?Frmdetails=NTc0NDI5

By Type of Doctor: The market is dominated by General Practitioner as most people prefer going to a general doctor first to diagnose their health issue. Most of the online consultation players maintain fee for consultation which is usually a same charge for both specialized and general practitioners.

By Type of Specialization: Pediatric online consultations constitute majority of the total consultations in 2021 with hand-face-mouth disease being the most treated disease amongst the children of Vietnam.

By Region: The market is concentrated in the Northern Region due to its prevalence of most common diseases. Hanoi city had the highest covid cases recorded which compelled people to use online consultation to avoid overcrowded hospitals.

Vietnam Health IT Solutions Market Overview and Segmentations

The Health IT Solutions in Vietnam has grown with CAGR 4.5% from 2018 to 2021 due to integration of digital health systems in hospitals for easy administration

The competition in Health IT Solutions was identified to be moderately concentrated with three major dominating players in the market, namely: FPT, VNPT and Viettel Solutions. Key competitive parameters include price, type of product, customization, after sale service, ease of expansion, technology advancement, service offerings, etc.

With the government regulatory decisions and frameworks focusing to digitalize the entire healthcare system, it is likely for the Health IT market to grow at CAGR 5.9% from 2022-2026F, the country’s hospitals will grow smart improving their operational efficiency and medical outcomes in the near future

By Type of Customization: The market is conquered by Customized products due to ease and convenience in accordance to the end user.

By Type of Product: Market is dominated by HIS/LIS where 100% of public hospitals in Vietnam have installed HIS/LIS

By Region: The market is concentrated in the Northern Region as it attracted large national conglomerates to enter the market, making it a high-quality medical hub.

Key Segments Covered in the report: -

e-Pharmacy Market

By Oder Split

By Order Split

OTC Drugs

Prescribed Drugs

Non-Pharmaceutical Products and Medical Devices

By Oder Platform

Mobile Application

Web Browser

By Region

Northern Region

Central Region

Southern Region

Online Consultation Market

By Type of Doctor

General Practitioner

Specialized Doctor

By Type of Specialization

Pediatrics

Family Doctor

Dermatologist

Others (include ENT Specialist, Cardiologist, Optometrist, Psychiatrist and more)

By Region

Northern Region

Central Region

Southern Region

Health IT Solutions Market

By Type of Customization

Customized

Non- Customized

By Type of Product

HIS/LIS

Independent LIS

PMS

CMS

By Region

Northern Region

Central Region

Southern Region

Key Target Audience

Healthcare Industry

Pharmaceutical Industry

e-Pharmacy Companies

Online Consultation Companies

Health IT Solutions Companies

Hospitals & Clinics

Retail Pharmacy Drug Stores

Time Period Captured in the Report:

Historical Period: 2018-2021

Forecast Period: 2021-2026F

Companies Covered:

Pharmacity

Long Chau

Medicare

Phano Pharmacy

eDoctor

Med247

Doctor Anywhere

FPT

VNPT

Viettel Solutions

Key Topics Covered in the Report

Executive Summary of Health Tech Market in Vietnam

Vietnam Country and Healthcare Sector Overview

Vietnam Health Tech Market Overview

Major Challenges in Health Tech Market

Comprehensive Analysis on e-Pharmacy, Online Consultation and Health IT Solutions Markets (Market Size, 2018-2026F; Market Shares; Future Trends)

Major Regulations for e-Pharmacy, Online Consultation and Health IT Solutions Markets in Vietnam

Emerging Technologies in Health Tech Market

Strengths and Weaknesses of Major Health Tech Players in Vietnam

Competitive Landscape in e-Pharmacy, Online Consultation and Health IT Solutions Markets

Emerging Opportunities in Health Tech Market in Vietnam

Analyst Recommendations

For More Info on the Research Report, Click on the below link: -

Future Outlook of Vietnam Health Tech Market

Related Reports by Ken Research: -

Philippines Health Tech Market Outlook to 2025- By Service Type (E-Pharmacy, Online Consultation and Healthcare IT Solutions) and By Region (Manila, Central Luzon, Mindanao/Davao, and Others

Indonesia Health Tech Market Outlook to 2025-Lack of Medical Staff and Protective Gear to Lean on Healthcare Startups in Indonesia

Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
Support@kenresearch.com

+91-9015378249