Digital Treatment & Care - Vietnam

Vietnam

The Digital Treatment & Care market in Vietnam is projected to reach a revenue of US$365.90m by 2024.
This market segment is expected to show an annual growth rate (CAGR 2024-2028) of 6.48%, resulting in a projected market volume of US$470.40m by 2028.
The user penetration rate is estimated to be 17.36% in 2024 and is expected to increase to 22.70% by 2028.
The average revenue per user (ARPU) is projected to be US$20.99.
In global comparison, in the United States will generate the highest revenue in this market segment, amounting to US$24,240.00m in 2024.
Vietnam's digital health market is witnessing a surge in demand for telemedicine services, revolutionizing the way patients access treatment and care.

Key regions: Japan, India, United States, Canada, Italy

Definition:

The Digital Treatment & Care market includes devices and apps that help users monitor and analyze lifestyle-related aspects and improve their overall health. It includes user and revenue trends for four categories: digital care management, connected Biosensors, and online pharmacies.

Structure:

The Digital Treatment & Care market is divided into four markets:

Connected Biosensors: Biosensors that collect information on a variety of health parameters and vital signs of an individual (blood pressure, temperature, blood glucose, weight) by reading or measuring this data and transmitting it via electrical signals.

Digital Care Management: Various apps that help users monitor/detect/analyze physical health conditions. Contraception and fertility apps provide users with guidelines on self-care, family planning, and birth control, raise their awareness, and offer monitoring functions. Medication checker apps provide users with useful dosage intake guidelines, drug interaction information, and personal medication records.

Online Pharmacies: Over-the-counter medicine that can be purchased without a medical prescription through online sales channels. The market comprises analgesics, cold and cough medication, digestives and intestinal remedies, skin treatment products, and vitamins and minerals.

Digital Therapeutics (DTx): Software-based therapeutic interventions that deliver evidence-based therapeutic content to patients to prevent, manage, or treat a medical condition. DTx can be used to treat a wide range of conditions, including chronic diseases, mental health disorders, and substance use disorders.

Additional Information:

The digital care management user base includes paying and non-paying customers. The revenue figures only include revenues generated from paid apps offering premium options and from in-app purchases; revenues from app downloads and advertising are not included. The data only reflects B2C revenues; B2B and C2C revenues are not covered.

Market

Region

Region comparison

Currency

Analyst Opinion

The Digital Treatment & Care market in Vietnam is experiencing rapid growth and development, driven by various factors in the healthcare industry.

Customer preferences: Vietnamese consumers are increasingly turning to digital solutions for their treatment and care needs, seeking convenience, accessibility, and efficiency. With the rise of smartphone usage and internet penetration in the country, there is a growing demand for digital healthcare services that can provide quick and easy access to information and resources.

Trends in the market: In Vietnam, there is a noticeable trend towards the adoption of digital contraception/fertility apps, medication checker apps, online pharmacies, and smart health devices such as thermometers, blood glucose meters, and blood pressure monitors. These digital tools offer users the ability to track their health data, receive personalized recommendations, and access healthcare services remotely. The popularity of social alarms is also on the rise as they provide a sense of security and emergency assistance for the elderly population in the country.

Local special circumstances: Vietnam has a large population with a significant portion residing in rural areas with limited access to traditional healthcare facilities. The adoption of digital treatment and care solutions is bridging this gap by providing virtual consultations, medication delivery services, and remote monitoring options. Additionally, the Vietnamese government is increasingly investing in digital health initiatives to improve healthcare accessibility and quality across the country, further driving the growth of the market.

Underlying macroeconomic factors: The growing middle-class population in Vietnam with higher disposable incomes is willing to spend on healthcare and wellness products and services, including digital treatment and care solutions. Furthermore, the increasing awareness about preventive healthcare measures and the importance of early diagnosis is encouraging individuals to proactively monitor their health using digital tools. Overall, the combination of favorable demographics, technological advancements, and supportive government policies is propelling the Digital Treatment & Care market in Vietnam towards a promising future.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on revenues and user data of relevant mobile applications and consumer electronics companies.

Modeling approach / Market size:

Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players, industry reports, third-party reports, and survey results from primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, population, internet penetration, smartphone penetration, consumer spending, and healthcare spending. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.