Growing Healthcare Expenditure and Transition of Healthcare Facilities from Traditional to Digital Platforms to Drive the Health Tech Market in Vietnam: Ken Research
2022-07-21
GURUGRAM, India, July 21, 2022 /PRNewswire/ --
Vietnam is a heavy importer for medical products. 90% of the medical products are imported from the manufacturing countries like Japan, Germany, China, Singapore, etc.
COVID was the biggest driver and had a perfect positive impact on the growth rate of Vietnam's Health Tech market during which the market experienced broad investments.
In 2020, MOH has launched three dedicated schemes to Health IT that includes Smart Management, Smart Hospitals, Smart Medical Record management to be achieved by 2025, pushing the industry toward digitalization for efficient management.
Rising Healthcare Expenditure: Vietnam's growing healthcare expenditure is boosting the Health Tech Market as the country is currently undergoing economic and demographic transformations that provide great potential for its healthcare industry. Factors like increasing geriatric population, rising GDP and disposable income and disease prevalence to drive the country's Health Tech market. Moreover, changes in the society like fast-growing middle class and aging population creating opportunities for new players to enter the market.
Increased focus on Digital Health: Digital health is guided by several key policy & communications and digital regulations issued by the Ministry of Health like Industry 4.0, Digital Transformation in Healthcare Scheme until 2025 and others are driving the digital industry in Vietnam. Digitization is helping address challenges in Vietnam's Healthcare facilities including hospitals and clinics. Technological software integration in the hospital system has eased hospital management extensively in the country.
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Emergence of New Technologies: 5G is making robot-assisted telesurgery widespread which creates greater scope for healthcare centers to provide medical care in remote or under-served areas through new technologies. AI and Big Data applications are receiving strong support from the central government, driving digital healthcare infrastructure and will enable new R&D with accelerated investment incentives. Vietnam hospitals are in the early stage of going smart and are currently focusing on implementing of new technologies, including HIS, LIS, PACS and EMR.
Increased usage of Health IT Solutions: MoH's top priority is to optimize Vietnam's healthcare network easing the burden on large, national-level hospitals with overcrowding.
There is strong support from the government for improving existing hospitals infrastructure and integrate the IT system for administration. Enhances healthcare professionals' tasks to keep a track of patient's records easily and securely.
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
Prescribed Drugs
Non-Pharmaceutical Products and Medical Devices
By Oder Platform
Mobile Application
By Region
Northern Region
Online Consultation Market
By Type of Doctor
Specialized Doctor
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By Type of Specialization
Pediatrics
Family Doctor
Dermatologist
Others (include ENT Specialist, Cardiologist, Optometrist, Psychiatrist and more)
By Region
Northern Region
Health IT Solutions Market
By Type of Customization
Customized
Non- Customized
By Type of Product
Independent LIS
By Region
Northern Region
Key Target Audience
e-Pharmacy Companies
Health IT Solutions Companies
Retail Pharmacy Drug Stores
Time Period Captured in the Report:-
Historical Period: 2018-2021
Forecast Period: 2021-2026F
Companies Covered:
Long Chau
Medicare
Phano Pharmacy
eDoctor
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
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Philippines Health Tech Market had a slow growth initially. The slow growth corresponded to poor internet penetration and lack of technology awareness. Unorganized health tech infrastructure and a less tech-savvy population led to the accumulation of unharmonized healthcare data. The government faced a major difficulty when the healthcare challenges kept on increasing with the growing population. Increasing need and high government interest positively drove the Philippines health tech industry.
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KSA Fitness Equipment Market Outlook to 2026: Driven by the growing demand of advanced fitness equipment by fitness clubs and government initiative to launch women centric fitness centres
KSA fitness equipment market expanded with a CAGR of ~13.7% in between 2016 and 2021 with considerable expansion in commercial fitness centers in which popular fitness centers and women centric fitness club dominated the market. Government initiatives to launch women centric fitness centers in 2017 along with "Your Home, Your Gym" and "Quality of Life" campaign to improve physical conditions of people coupled with rising health concerns such as obesity, diabetes and cardiovascular diseases due to unhealthy lifestyle, inclination of consumers to undertake online fitness sessions to enjoy exercisingin the comfort of their homes and as per their convenience are the major determinant to drive the growth of fitness equipment industry. Surging demand of fitness equipment suitable for home/residential purposes post COVID-19 is also contributing in the growth of fitness equipment market.
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