The Global Vietnam Telemedicine Market report, published by Report Ocean, presents a comprehensive analysis of the product’s/service industry, examining both historical patterns and future prospects from 2023 to 2031. This report serves as a valuable reference for businesses seeking to formulate effective strategies for the coming years, offering insights into the performance of organizations and the overall market in the previous year.
Vietnam Telemedicine Market Slated to Amass Considerable RevenueProjected to Grow at a CAGR of 16.1% during 2022-2028
Vietnam telemedicine market is exhibiting impressive growth due to the growing geriatric population and investment from the government in the development of advanced healthcare infrastructure in the country. Additionally, Vietnams golden population structure is also pushing the market forward
Download Free Sample of This Strategic Report: https://reportocean.com/industry-verticals/sample-request?report_id=MR448
A study, recently conducted by the strategic consulting and market research firm, Report Ocean, revealed that the Vietnam telemedicine market is flourishing and projected to grow at a CAGR of 16.1% during the forecast period (2022-2028). The telemedicine market in Vietnam is growing owing to the growing adoption of Artificial Intelligence, Machine Learning, and other advanced technologies. Furthermore, the growing geriatric population, and increasing internet and smartphone penetration in the country are also propelling the market forward. Additionally, increasing investment from the government to develop & reinforce the healthcare infrastructure of the country is expected to create lucrative opportunities for the growth of the telemedicine market in Vietnam.
Vietnams Growing Geriatric Population propelling Vietnam Telemedicine Market Forward
Vietnam is the 8th most populous country in Asia and the 3rd most populous in Southeast Asia, after Indonesia and the Philippines, according to the 2019 Revision of the World Population Prospects. The World Bank reports that Vietnam is on brink of an aging population. In 2015, Vietnam became an aging society, and the World Bank estimates it will be an aged society by 2035, making it one of the fastest aging countries in the world.
As Vietnam’s aging population grows more rapidly than its birth rate, Vietnam’s healthcare facilities will be strained and the demand for healthcare services will rise across the country. The integration of AI, machine learning, and Big Data can help companies launch geriatric care services. Thus, new and advanced technologies, such as remote patient monitoring and remote diagnosis are expected to be in high demand during the forecast period, thereby driving the growth of the Vietnam telemedicine market.
Golden population structure of Vietnam is expected to present opportunity for the growth of the Vietnam telemedicine market
Vietnam has undergone significant demographic changes in the last three decades, with a drop in people under the age of 15 years while an increase in people aged 15-64 years. Therefore, Viet Nam is currently experiencing a golden age of population structure, which means there is only one dependent out of every two employed people.
Vietnamese millennials have contributed significantly to the country’s economic growth in recent years, and they are expected to push toward becoming a developed country in the coming years. The age group of 15-64 years represents a favorable demographic for the adoption of innovative science and technology and is expected to stimulate demand for consumer healthcare electronics throughout the forecast period, creating opportunities for growth of the Vietnam telemedicine market.
Services Segment Hold the Largest Share in the Vietnam Telemedicine Market
Based on components, the Vietnam telemedicine market is segmented into software, services, and hardware. In 2021, the services segment dominated the market and held the largest share owing to the surging demand for telemedicine services. Due to the lockdown and travel restrictions, people were unable to see doctors face-to-face, and services, such as telepathology, telecardiology, teleradiology, tele-dermatology, telepsychiatry, and others witnessed high demand, supporting the dominant share of the services segment in the Vietnam telemedicine market.
Request To Download Sample of This Strategic Report:- https://reportocean.com/industry-verticals/sample-request?report_id=MR448
Impact of COVID-19 on the Vietnam Telemedicine Market
The ongoing COVID-19-pandemic has created a growing demand for telemedicine in the country and has contributed to the growth of the Vietnam telemedicine market. The surging number of COVID-19 cases in the country strained the healthcare industry of the country and in the hour of need, telemedicine companies came forward. By August 2021, Vietnam was battling the fourth COVID-19 wave in the country and telemedicine startups like Docoscan offered free teleconsulting to ease the pressure on the healthcare system. Now, with the emergence of the highly transmissible Omicron variant, cases of COVID-19 are surging again and it is expected to contribute to the growth of the telemedicine market in Vietnam in the coming years.
Market Overview
Market Size & Forecast
By Value (USD Million)
Market Share & Forecast, 2018-2028
By Component
Services
Software
Hardware
By Type
Tele-Hospitals
mHealth
Tele-Homes
By Technology
Store & Forward
Real Time
Others
By Application
Tele-Psychiatry
General Consultations
Tele-Radiology
Tele-Pathology
Others
By End-User
Payer
Provider
Patients
By Region
Central
Northern
Southern
Vietnam Telemedicine Market- Competitive Landscape
Some of the key players in the Vietnam telemedicine market include Viettel Group, Vietnam Posts and Telecommunications Group (VNPT), FPT Group, Doctor Anywhere, BuyMed, VieVie Healthcare, JioHealth, Med247, eDoctor, MyDoc, and others prominent players.
The increasing government investment in developing the healthcare infrastructure in the country and initiatives to implement advanced technologies, such as AI, machine learning, Big Data, and others in the healthcare industry, are driving stiff competition within the market. Furthermore, the Vietnamese government is collaborating with foreign companies to invest in the countrys healthcare sector, which has increased competition in the market.
Recent Developments
In September 2021, Japanese trading house, Sumitomo Corporation, reported that it plans to invest tens of millions of dollars in Insmart, one of the regions’ fastest-growing managed-care providers to further expand the latters services to include telemedicine, along with medication counselling and drug shipping.
In August 2021, Vietnam announced the launch of a Telehealth platform connecting district-level healthcare facilities to make access to healthcare easier, especially during COVID-19. Prime Minister Pham Minh Chinh witnessed doctors of Cho Ray Hospital make telehealth connection with Can Gio Hospital in Ho Chi Minh City, Hau Nghia General Hospital in the southern province of Long An and Thuan An Hospital in the southern province of Binh Duong.
You Can Browse The Sample Report here:- https://reportocean.com/industry-verticals/sample-request?report_id=MR448
Some of the Key Questions Answered in this Report:
What are the key market trends and market dynamics?
Who are the major players in the market and what is their market share?
What is the competitive landscape like in the market?
What are the major drivers and restraints affecting the market?
What are the growth opportunities in the market?
What are the regional and local market conditions and consumer behavior?
What is the market size and growth forecast for different regions and countries?
What is the impact of government regulations and policies on the market?
Reasons to Buy:
Informed decision-making: Market research reports provide valuable insights into industry trends, customer behavior, and competitor analysis. This information can help businesses make informed decisions about product development, pricing, and marketing strategies.
Competitive advantage: By identifying market gaps and opportunities, market research reports can provide a competitive advantage that can help businesses differentiate themselves from their competitors and gain a larger share of the market.
Industry expertise: Market research reports are prepared by industry experts who have a deep understanding of the market and its dynamics. These reports provide an unbiased and objective view of the industry, which can be invaluable for businesses that want to gain a deeper understanding of the market.
Saves time and money: Conducting market research can be time-consuming and expensive. By purchasing a market research report, businesses can save time and money by accessing a comprehensive and detailed analysis of the market.
Risk management : Market research reports can help businesses manage risks associated with market entry, product development, and expansion. By providing a detailed analysis of the market and its trends, businesses can make informed decisions that minimize risks and maximize returns.
Request full Report– https://reportocean.com/industry-verticals/sample-request?report_id=MR448
About Report Ocean:
We are the best market research reports provider in the industry. Report Ocean believes in providing quality reports to clients to meet the top line and bottom line goals which will boost your market share in today’s competitive environment. Report Ocean is a ‘one-stop solution’ for individuals, organizations, and industries that are looking for innovative market research reports.
Get in Touch with Us:
Report Ocean:
Email:sales@reportocean.com
Address: 500 N Michigan Ave, Suite 600, Chicago, Illinois 60611 – UNITED STATES
Tel:+1 888 212 3539 (US – TOLL FREE)
Website:https://www.reportocean.com