Industry Report

Vietnam: Opportunities in the digital health industry

Vietnam’s internet economy is booming and currently accounts for over 8% of the country’s GDP. Vietnam is emerging as the one of the fastest digitalising economy in the world, and is the third most-funded internet economy in South East Asia after Indonesia and Singapore.

Digital Health

Vietnam is a densely populated developing country that has emerged as one of the fastest-growing countries in the world. Economic growth reached 7% in 2019 in real terms. Due to the outbreak of the Covid-19, growth dropped but remained in positive territory in 2020 with 1.6%. Real GDP growth in Vietnam is expected to bounce back to 6.7% in 2021.

Today Vietnam ranks as the third most populous country in South East Asia, with close to 100 million people. Its population is young but rapidly ageing: the country’s life expectancy is forecasted to reach 78 years by 2030. 
Vietnam enjoys one of the highest health expenditures as a percentage of GDP in the region. Because of the country’s rapid economic development, healthcare spending per capita has grown at a remarkable pace. Vietnam’s healthcare system has a mixture of public and private elements, with the national public insurance scheme providing coverage to around 90% of the population. 

Challenges of the Vietnamese healthcare system

On the other hand, the current Vietnamese healthcare workforce is deemed insufficient to meet the needs of the population. Maldistribution of health workers between urban and remote areas is also a challenge, as most high-skilled doctors and nurses concentrate in provincial and central-level hospitals. In addition, overcrowding and high occupancy rates are serious problems in Vietnam’s public hospitals.
Learn more about the key players in the digital health industry in Vietnam and gain valuable insights into the market in our report.

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