Inpatient Care - Vietnam

Vietnam

The Inpatient Care market in Vietnam is forecasted to achieve a revenue of US$6.85bn in 2024.
This projection indicates that the market is expected to exhibit an annual growth rate (CAGR 2024-2029) of 6.17%.
As a result, the market volume is anticipated to reach US$9.24bn by 2029.
It is worth noting that when comparing globally, in the United States is projected to generate the highest revenue in the Inpatient Care market, with an estimated value of US$731.40bn in 2024.
Vietnam's inpatient care market is rapidly expanding due to increasing healthcare investments and a growing demand for quality medical services.

Key regions: India, Canada, Japan, United Kingdom, Germany

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Currency

Analyst Opinion

The Inpatient Care market in Vietnam is experiencing significant growth, driven by several factors.

Customer preferences: Vietnam's population is aging, and with that comes an increased demand for healthcare services. As people age, they are more likely to require medical attention, including inpatient care. Additionally, the rising middle class in Vietnam has more disposable income to spend on healthcare, leading to increased demand for high-quality inpatient care.

Trends in the market: One trend in the Inpatient Care market in Vietnam is the increasing popularity of private hospitals. Private hospitals in Vietnam are known for their high-quality facilities and services and are often preferred over public hospitals. Another trend is the adoption of new technology and medical equipment, allowing for more advanced and efficient care.

Local special circumstances: Vietnam has a unique healthcare system, with a mix of public and private hospitals. Public hospitals are often overcrowded and understaffed, leading to longer wait times and lower quality of care. This has led to the rise of private hospitals, which offer more personalized care and shorter wait times. Additionally, the Vietnamese government has made efforts to improve the quality of healthcare in the country, including investing in new medical facilities and equipment.

Underlying macroeconomic factors: Vietnam's economy has been growing rapidly in recent years, leading to increased spending on healthcare. The government has also made healthcare a priority, with a goal of achieving universal healthcare coverage by 2030. Additionally, Vietnam has a large and growing population, providing a large customer base for the Inpatient Care market.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on revenue received by hospitals from public or private sources, allocated to the country where the money is spent, including VAT if applicable.

Modeling approach / Market size:

Market sizes are determined by a bottom-up approach, based on a specific rationale for each market market. Next, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, public health spend, and GDP. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.