The objective of HealthTech is to use technology to improve healthcare. It entails using computers and other gadgets to help doctors treat patients and monitor their health. You’ve probably heard of telemedicine, which includes speaking with a doctor through video call rather than physically visiting a hospital. Wearable devices can also tell you how many steps you took or how well you slept. HealthTech also encompasses the use of artificial intelligence to help doctors diagnose and treat patients.
According to SPER market research, ‘Vietnam HealthTech Market Size By Product, By Order Split, By Order Platform, By Mode of Consultation, By Payment Type – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Vietnam HealthTech Market is predicted to reach USD XX billion by 2033 with a CAGR of XX%.
Several significant factors that have created an environment receptive to technological advancements in the healthcare sector are driving the growth drivers of the Vietnam HealthTech market. To begin, increasing internet penetration and smartphone use across the country have laid the framework for HealthTech solutions to reach a wider audience. The government’s initiatives to promote digitalization and healthcare modernization, which supports the use of technology into healthcare services, bolster this trend. Second, an expanding middle-class population demands more accessible, convenient, and personalized healthcare services, which HealthTech platforms may provide through telemedicine, online appointment scheduling, and health monitoring apps.
The Vietnamese HealthTech sector faces a number of obstacles. Maintaining data privacy and cybersecurity is a crucial obligation in the context of digital healthcare. Integrating contemporary technology into traditional healthcare systems creates technological challenges that require expenditures in interoperability and infrastructure development. Furthermore, despite increasing smartphone use, there are geographic variations in internet availability that limit the reach of HealthTech solutions, particularly in distant and underprivileged areas.
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The COVID-19 pandemic has had a significant impact on the Vietnamese HealthTech business, altering the delivery of healthcare services and hastening the adoption of digital technologies. Demand for telemedicine and remote treatment solutions has increased as a result of the virus’s social isolation and strain on traditional healthcare systems. As consumers sought alternatives to in-person visits and healthcare practitioners relied on virtual consultations to ensure continuity of service, telemedicine platforms grew in popularity. This measure addressed not only immediate health concerns, but also the potential of telemedicine to increase healthcare access, particularly in distant and underprivileged places.
Furthermore, Many diverse trends and dynamics appear across different geographic areas in the regional analysis of Vietnam’s HealthTech market. HealthTech adoption is particularly strong in urban centers such as Ho Chi Minh City and Hanoi, where digital connectivity is widespread and the middle-class population is concentrated. These regions have a larger demand for virtual healthcare services, such as telemedicine platforms and health monitoring apps, due to the convenience and time savings they provide to the digitally aware metropolitan population. Additionally Some of the market key players are Doctor Anywhere, eDoctor, FPT, Long Chau, Med247, Medicare, Phano Pharmacy, Pharmacity, Viettel Solutions, Others.
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Sara Lopes, Business Consultant – USA
SPER Market Research