Hospitals

The Hospitals market in Vietnam is forecasted to achieve a revenue of US$9.91bn by the year 2024.
It is expected to exhibit a compound annual growth rate (CAGR 2024-2029) of 7.54%, leading to a market volume of US$14.25bn by 2029.
In a global context, United States is projected to generate the highest revenue in the Hospitals market, amounting to US$1.50tn in 2024.
When considering the population size, per person revenues of US$99.57 are anticipated in 2024.
Vietnam's hospitals are adopting advanced technology and expanding their facilities to meet the growing demand for quality healthcare services in the country.

Definition:
Hospitals are licensed facilities that provide a variety of medical and surgical services, some of which are also provided by other facilities. A distinguishing characteristic of hospitals is “inpatient care,” which refers to services where patients are admitted to a hospital to stay overnight for closer monitoring.

This market includes general hospitals, psychiatric hospitals, and specialist hospitals, which provide various services to patients, ranging from diagnostics, medical and surgical treatments, nursing and specialized accommodation to other medical services. Depending on the specific legal regulations, the medical services provided by hospitals can vary greatly from country to country. Long-term care facilities, ambulatory care providers, and medical retailers are excluded from this market.

Structure:
The Hospitals market is divided into three categories: Inpatient Care, Outpatient Care, and Other Hospital Services. Inpatient Care comprises all the medical and surgical services that are provided to patients who are admitted to a hospital for an overnight stay. Outpatient Care covers all medical and surgical services that are provided to patients without having to spend the night in a hospital. Other Hospital Services includes hospital services that are provided outside of a basic hospital setting, e.g., day-care, long-term care, and home-based care.

Additional information:
The shown KPIs include revenues, average revenue per capita, number of hospitals, density of hospitals, average revenue per hospital, number of hospital beds, density of hospital beds, and average revenue per hospital bed. Market values represent revenues paid to hospitals by the respective healthcare payers (including VAT, if applicable). Reported market revenues include spending by consumers (B2C), enterprises (B2B), and governments (B2G). Revenues are allocated to the country where the money is spent.

General hospitals, including community, county, and regional hospitals
Psychiatric hospitals
Specialist hospitals, such as maternity clinics and aesthetics clinics

Long-term care facilities
Ambulatory care providers, such as specialist practices and dental practices
Providers of ancillary medical services
Medical retailers and other providers of medical supplies

Vietnam, the Southeast Asian country known for its bustling cities, stunning landscapes, and delicious cuisine, is also experiencing significant growth in its hospitals market.

Customer preferences: As the Vietnamese population continues to grow and age, there is an increasing demand for healthcare services. This has led to a rise in the number of hospitals and medical facilities in the country, with many offering modern equipment and advanced medical treatments. Patients in Vietnam are also becoming more discerning, seeking out high-quality medical care and personalized services.

Trends in the market: One trend in the Vietnamese hospitals market is the growing popularity of medical tourism. Patients from neighboring countries such as Laos and Cambodia are traveling to Vietnam for medical treatments, attracted by the country's modern medical facilities and lower costs. Another trend is the increasing use of technology in healthcare, with hospitals investing in electronic medical records and telemedicine services.

Local special circumstances: Vietnam's hospitals market is heavily influenced by the country's public healthcare system, which provides free or low-cost healthcare services to the population. However, this system is often overstretched and underfunded, leading to long waiting times and a shortage of medical staff. As a result, many Vietnamese people are turning to private hospitals and clinics for faster and more personalized care.

Underlying macroeconomic factors: Vietnam's economy has been growing rapidly in recent years, with a focus on manufacturing and exports. This has led to an increase in disposable income for many Vietnamese people, allowing them to afford private healthcare services. In addition, the government has been investing in healthcare infrastructure and promoting the development of the healthcare industry, creating opportunities for both domestic and foreign investors.

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 forecasting 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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

The healthcare landscape in the United States is a complicated one. There are federal health insurance plans for low-income individuals namely Medicaid and CHIP (Children’s health insurance program) and Medicare for seniors and the disabled. Aside from these, people must buy private health insurance or be left uninsured because the U.S. is the only high-income country without universal healthcare coverage. Hospitals in the U.S., therefore, receive payment from multiple payers. Most revenue generated by U.S. hospitals comes from private insurance, self, or other payments. The complexity of this multi-payer system is instrumental to the U.S. having the highest administrative health costs per capita among wealthy nations.