On the 1st International Health Informatics Conference towards Smart Hospital on October 16th in Ho Chi Minh City, ASHAVI just published the Vietnam Healthcare Research, which given an overview and facts of Healthcare in Vietnam.
Vietnam Healthcare at the glance
Vietnam is one of the fastest developing countries in pharma industry in ASIA. Vietnam healthcare market is valued USD17.4 billion in 2018. The per capita healthcare spending USD170 in 2017 and expected to increase more than double i.e. USD 400 in 2027.
Thanks to the changes in Government policies and development in the domestic regulations of imported drugs, Vietnam’s pharmaceutical sector has grown significantly in the last decade. The revenue had an estimated USD5.9 billion in 2018 and expecting to grow average 14% per year.
- More than 180 manufacturers in 2017
- More than 57,000 pharmacies in 2017
- About 1,670 Hospital include Public and Private Sector
The regulations on advertising and clinical trials can still create obstacles for sellers, looking to break into the market, with the right information Vietnam offers many opportunities for potential suppliers. Besides, the prospect of Vietnam healthcare industry is on the way up. In 2017, healthcare expenditure accounted for 7.5% of the GDP and Compound annual growth rate (CAGR) is about 12.5% (2017 –2021).
Public & Private Healthcare overview
The number of public and private healthcare increased through years but still not meet the real demand.
In 2018, as per GSO, the number of beds in 1,000 people is 28 beds, this number is considered very low in compares to other countries in SE region. In a recent publication , 14 million Vietnamese were searching for health tourism program outside, leading to pay millions USD to take treatment abroad. This shows the current infrastructure of Vietnamese in healthcare system is not enough.
Patients wish to enjoy the private healthcare service in public hospitals.
New approach patients in the Digital 4.0
Thanks to the internet and its advantages, patients increase their expectation and willing to pay high for better healthcare. Nowadays, patient can use many ways to approach:
Email Marketing. Cheap and fast way to re-contact the existing patients
Call Centre/ Telehealth. Provide initial advice on healthcare for patient
Messages/ SMS. Patient care via message and SMS
Patient Mobile application. The new way to connect patients with hospital and healthcare services
Social media. Spreading the news trend in healthcare to approach clients
Web/ Internet. Provide sufficient information for patient to search when needed.
So, there are some key Market Drivers and Trends:
- Fierce competition pushing all time pressure on pricing of medicines and healthcare services
- Income level going up, willing to pay more to get better service/ product, growing middle class segment & urbanization. Private sector participation increasing.
- Consumers are proactively looking for information, Knowledgeable and to self – diagnosis for some common diseases based on perception.
- Changing working and living environment, diseases are getting younger (specially: Cardio, Cancer, Metabolic diseases, etc.)
On October 16th, ASHAVI is one of the sponsors of International Informatics Conference towards smart Hospital in Ho Chi Minh City, in which we have chance to communication with many Doctors and Ministry of Health members to understand more about reality in Healthcare. We understand the Vietnam Healthcare at the present and know what are the key points of Healthcare growth in the future.
If you’re still looking for a solution to understand your patient, do not hesitate contact to ASHAVI – A Strategic Consultancy for Insights, Technologies & Experts. We help to connect brands, services & information with Patients via Research & Technology.
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