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The report titled “Vietnam Healthcare Technology Market Outlook to 2026 – Driven by Increasing Internet and Mobile Application Penetration as well as Technological Advancement in the Country” provides an exhaustive analysis of the market health technologies in Vietnam. The report covers industry overview and genesis, market size by product; market segmentation ; analysis of electronic pharmacies, online consultations and health IT solutions; trends and developments, issues and challenges, and comparative landscape, including the competition scenario; major companies market shares, 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 healthcare technology market and strategies to exploit the opportunities.

Overview of the health technology market in Vietnam

Vietnam health technology market grew at an increasing growth rate over the period 2018-2021, supported by increasing geriatric population in the country along with increasing internet penetration and usage electronic platforms. Further improvements in advanced health technologies will generate greater demand for Health Tech products in Vietnam. Factors such as high prevalence of diseases, shift from traditional practices to digital and technological novelties, increasing healthcare expenditures and improving quality of healthcare services will drive the Vietnam healthcare technology market in coming years.

Overview and segmentations of the e-pharmacy market in Vietnam

COVID has been the main driver for the growth rate of the Vietnamese e-pharmacy market, which has led to a massive shift from traditional shopping to e-pharmacy platforms. Due to strict lockdowns during COVID 19, people preferred to purchase medical products from electronic platforms to avoid contact with the virus, which led to increased sales volume of online pharmacies.

The competition has been observed to be disorganized and moderately fragmented in online pharmacy, with pharmacy and Long Chau contributing maximum market share. Key competitive metrics include price, business model, delivery options, brand availability, and trading partners. The market is mostly dominated by online pharmacies compared to the other two markets.

A shift from unorganized businesses to organized players, rapid technological advancements with increased use of internet and e-commerce platforms, is likely to grow the e-pharmacy market size at a CAGR of 29.5% from 2021 to 2026F, benefiting a large number of actors and organized consumers in a win-win situation.

In order of distribution: the market is dominated by over-the-counter drugs. It is a common practice in Vietnam for people to buy drugs without a prescription.

By ordering platform: the market is conquered by the web browser. Growing internet penetration, rising adoption of LTE infrastructure, and rising social media subscriptions are some of the key factors driving the growth of the market.

By Region: The market is concentrated in the South region, as most of the retail pharmacies and pharmacies are clustered in this region.

Overview and segmentations of the online consultation market in Vietnam

Online consultation players have entered the healthcare market with the advent of the pandemic outbreak bringing ease, convenience and maintaining better personal health management. The online consulting industry has snowballed in the past two years, especially in urban areas due to access to good technology and infra-advancement, and must gradually tap into rural areas and distant.

The competition has been observed to be disorganized and moderately fragmented with major players eDoctor, Med247 and DoctorAnywhere contributing maximum market share. The main competitive parameters include fees, subscription, mode of consultation, cancellation and postponement, type of doctors and their availability.

With rapid technological spreads and electronic platforms, the online consultation market size is likely to grow at a double digit CAGR from 2021 to 2026F. Increasing government investment to develop and strengthen the country’s healthcare infrastructure is expected to create lucrative opportunities for the growth of the telemedicine market in Vietnam.

By Type of Physician: The market is dominated by GPs as most people prefer to see a GP first to diagnose their medical condition. Most online consultation players maintain consultation fees which are generally the same for specialists and general practitioners.

By type of specialization: Online pediatric consultations constitute the majority of total consultations in 2021, with hand-face-mouth disease being the most treated disease among children in Vietnam.

By Region: The market is concentrated in the North region owing to its prevalence of the most common diseases. Hanoi city has recorded the highest covid cases, forcing people to use online consultation to avoid overcrowded hospitals.

Vietnam healthcare IT solutions market overview and segmentations

Healthcare IT solutions in Vietnam grew with a CAGR of 4.5% from 2018 to 2021 due to the integration of digital healthcare systems in hospitals for easy administration

The competition in healthcare IT solutions has been identified as moderately concentrated with three major players dominating the market namely: FPT, VNPT and Viettel Solutions. The main competitive parameters include price, product type, customization, after-sales service, ease of expansion, technological advancement, service offerings, etc.

With government decisions and regulatory frameworks focused on digitizing the entire healthcare system, the healthcare IT market is likely to grow at a CAGR of 5.9% from 2022-2026F, The country’s hospitals will grow smarter by improving their operational efficiency and medical outcomes in the near future. coming.