2016 –2026
VIETNAM HOSPITAL MARKET FORECAST & OPPORTUNITIES
www.techsciresearch.com MARKET INTELLIGENCE . CONSULTING
Scope of Report Product of Interest (POI): Hospital
A hospital is a health care institution providing patient treatment with specialized medical and nursing staff and medical equipment. The best-known type of hospital is the general hospital, which typically has an emergency department to treat urgent health problems ranging from fire and accident victims to a sudden illness. A district hospital typically is the major health care facility in its region, with many beds for intensive care and additional beds for patients who need long-term care.
Market Segmentation BED CAPACITY
OWNERSHIP •
Public
•
Up to 100 beds
•
Private
•
100-500 beds
•
Above 500 beds
TYPE REGION
General
•
Specialty
•
Northern
•
Multi- Speciality
•
Southern
•
Central
•
In-Patient Services
•
Out-Patient Services
Review Period
2016 – 2019
•
TYPE OF SERVICES
Year Range
Base Year
2020 Estimated Year
2021 Forecast Period
2022 – 2026
2
Table of Contents S. No. 1. 2.
Contents
Page No.
Product Overview (A brief description of the category and product inclusions considered under the scope of the study to give clear picture to the client about the product of interest.) Research Methodology (A detailed methodology on how we have derived the market related information and what are the measures that has been taken to validate the data.)
3.
Executive Summary
4.
Impact of COVID-19 on Vietnam Hospital Market
5.
Voice of Customer
6.
Vietnam Hospital Market Outlook, 2016-2026F (This chapter includes a brief overview of the product of interest market such as total market’s growth rate, expected growth rate, key growth levers, leading region, top grossing product types, etc. It includes more of a qualitative information about the market.) 6.1.
Market Size & Forecast 6.1.1.
6.2.
6.3.
By Value
Market Share & Forecast(This chapter would include the market size i.e., the revenue generated from the Vietnam hospital market in one year. In this case, the market size will be provided in value terms for historic period (2016-2019); current/base year (2020); estimated year (2021E); and forecast (2022-2026)) 6.2.1.
By Ownership (Public v/s Private)
6.2.2.
By Type (General, Specialty, Multi- Speciality)
6.2.3.
By Type of Services (In-Patient Services v/s Out-Patient Services)
6.2.4.
By Bed Capacity (Up to 100 beds, 100-500 beds, Above 500 beds)
6.2.5.
By Company (2020)
6.2.6.
By Region
Product Market Map
3
Table of Contents S. No. 7.
Contents Vietnam Public Hospital Market Outlook, 2016-2026F 7.1.
Market Size & Forecast 7.1.1.
7.2.
8.
Page No.
By Value
Market Share & Forecast 7.2.1.
By Type
7.2.2.
By Type of Services
7.2.3.
By Bed Capacity
Vietnam Private Hospital Market Outlook, 2016-2026F 8.1.
Market Size & Forecast 8.1.1.
8.2.
By Value
Market Share & Forecast 8.2.1.
By Type
8.2.2.
By Type of Services
8.2.3.
By Bed Capacity
4
Table of Contents S. No.
9.
Contents
Page No.
Market Dynamics (This chapter assesses the major demand drivers and restraints.) 9.1
Drivers
9.2
Challenge
10.
Market Trends & Developments (This section captures recent trends pertaining to manufacturing or consumption, market movements in terms of points of production and consumption, advancements and development)
11.
Policy & Regulatory Landscape
12.
Vietnam Economic Profile
13.
Competitive Landscape 13.1.
Competition Outlook
13.2.
Company Profiles (Leading Companies) 13.2.1.
Company Details
13.2.2.
Products & Services
13.2.3.
Financials (As Reported)
13.2.4.
Key Market Focus & Geographical Presence
13.2.5.
Recent Developments
13.2.6.
Key Management Personnel
14.
Strategic Recommendations (Based on the findings of the report strategic recommendations on how to enter and expand market share)
15.
About Us & Disclaimer
5
RESEARCH METHODOLOGY
Research Methodology
Market Profiling
In-depth secondary research was conducted to determine top players in the Vietnam hospital market, overall market size and segmental market size.
Formulating Questionnaire
In order to conduct industry experts’ interviews, TechSci formulated a detailed discussion guide.
Developing List of Respondents
Data Collection
Data Validation
Data obtained as a result of primary and secondary research was validated through rigorous triangulation.
TechSci conducted interviews with industry experts and industry players for data collection and verification.
List of industry players and industry specialists was developed.
Primary Research
Data Collection
Data Filter & Analysis
Research & Intelligence
Actionable Insights
✓ Identiing Key Opinion Leaders ✓ Questionnaire Design ✓ In-depth Interviews
Business Solution
Primary Research ✓ ✓
LinkedIn TechSci Internal Database
Desk Research
Secondary Research ✓ ✓ ✓ ✓ ✓ ✓ ✓
Company Websites Company Annual Reports White Paper Study Financial Reports Investor Presentations Regulatory Body Associations, etc.
✓ Recent Developments ✓ Market Changing Aspects/Dynamics ✓ Government Policies ✓ Conclusion
Data Analysis
The data was scrutinized using MS-Excel, statistical tools and internal proprietary database to obtain qualitative and quantitative insights about the Vietnam hospital market.
Company Analysis ✓ Market Participants ✓ Key Strengths
Paid Types
✓ ✓
Factiva Hoovers
7
Research Methodology Baseline Methodology
Our dedicated team of industry experts has monitored and analyzed various aspects of Vietnam hospital market. The team has analyzed the outlook of various segments of this market, while considering the major influencing factors such as growing privatization across the hospitals is further driving the growth of the Vietnam hospitals market in the upcoming five years. The study includes market forecasting, which would enable our clients to take better decisions while planning their strategy to achieve sustainability in Vietnam hospital market.
Methodology Followed for Calculation of Market Size:
•
Market Size By Value: Market size, in terms of value, for the year 2020 was calculated based on information collected through exhaustive secondary research and primary surveys, with various key opinion leaders/stakeholders, such as hospital providers, channel partners, market influencers & End User, industry experts, and other industry participants.
•
The team interviewed more than 15 – 20 hospital providers, 45 – 50 channel partners, 80 – 100 End User, and 15 – 20 industry experts and other value chain stakeholders in Vietnam hospital market to obtain the overall market size for 2016-2020, which was validated by using Delphi technique. Taking standard deviation into consideration, the market size was averaged out, to arrive at the market size data during 2016-2020.
8
Research Methodology •
Respondents were asked about the current and future market growth rates, market shares by ownership, by type, by type of service, by bed capacity, by region and by company. Removing the outlier responses, the geometric mean of growth estimates and supplier wise revenue shares generated across various segments were considered, to arrive at the final revenue shares. Revenue shares generated across various segments were further triangulated from other stakeholders.
Methodology Followed for Calculation of Market Shares: •
Market shares shares by ownership, by type, by type of service, by bed capacity, by region and by company were calculated based on the responses received through primary surveys with industry experts, in which the respondents were asked about the market shares or revenue generated from various segments of Vietnam hospital market. The final shares were calculated by taking the geometric mean of the responses gathered from key opinion leaders after eliminating the outliers.
Methodology Followed for Forecasting: •
TechSci Research performed periodical checks on data collected through the surveys with logic checks and analyzed the survey results in SPSS/Tableau Software.
•
Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market. To forecast Vietnam hospital market, TechSci Research used various forecast techniques such as: ✓
Moving Average
✓
Time Series Analysis
✓
Regression Analysis
✓
Econometric and Judgmental Analysis
9
Research Methodology TechSci Research used its own forecast tool, which is based on the growth of various allied industries in respective regions. TechSci Research also used the impact analysis during short, medium and long term period to estimate the demand and to reach accurate market numbers. It should be noted that the figures compiled are only for the organized market including market share data.
Partial List of Companies Interviewed
Key Secondary Types
▪ Thai Nguyen International Hospital
▪ World Bank
▪ Franco-Vietnamese Hospital
▪ TechSci Research Proprietary Database & Knowledge
▪ Columbia Asia Vietnam ▪ Vinmec International Hospital (Vingroup Corporation)
Repository ▪ Company Annual Reports ▪ Industry Magazines
▪ Hoan My Da Nang Hospital
▪ Industry Reports
▪ Family Medical Practice Da Nang
▪ News Dailies
▪ Thai Binh Duong – Pacific Hospital
▪ Credible Paid Databases
▪ Hanoi French Hospital ▪ Trien An Private General Hospital ▪ Hong Ngoc Private General Hospital
10
Industry Brief Rising demand for specialty hospitals is driving the growth of Vietnam Hospitals Market, in the forecast period, 2021-2026. According to TechSci report on, “Vietnam Hospitals Market By Ownership (Public v/s Private) By Type (General, Specialty, Multi- Specialty) By Type of Services (In-Patient Services v/s Out-Patient Services) By Bed Capacity (Up to 100 beds, 100-500 beds, Above 500 beds) By Region, Competition Forecast & Opportunities, 2026”, Vietnam hospitals market has shown promising growth in historical years until 2019 and is expected to continue its growth in upcoming forecast years 2020 to 2026. Vietnam hospitals market owes its growth to the factors like rapidly evolving demographic changes and economic growth of the country. Decreasing mortality rate, increased fertility rate, along with the increased urbanization is driving the growth of the Vietnam hospitals market in the upcoming five years. Vietnam is among the most prominently growing healthcare sector in the Asia-Pacific region and is expected to keep this growth module for the upcoming five years. Migration pattern of the citizen of the country to other neighboring countries may put a mild restraint but advancing healthcare facilities in the Vietnam hospitals is anticipated to compensate the growth hindrance and aid the growth of the Vietnam hospitals market in the next five years. Additionally, government initiatives to replenish the public hospitals with latest technology medical equipment along with the advanced pharmaceutical products is anticipated to drive the growth of the Vietnam hospital market in the future five years. Vietnam has more than 1,100 public hospitals, leading to 31 beds per 10,000 people. Hanoi, and Ho Chi Minh City hospitals with their highest quality of healthcare accounts for almost 60% of the country’s patient population. Some of the hospitals are working with a efficiency of 200% capacity. The Vietnam hospital market is segmented on the basis of ownership, type, type of services, bed capacity, competitional landscape, and regional distribution. Based on type, the market is further differentiated among general, specialty, and multi-specialty hospitals. General hospitals are anticipated to hold the largest revenue shares of the market on the account of advancing healthcare sector in the country and thereby supporting the Vietnam hospital market in the upcoming five years. Moreover, rapidly increasing number of cardiovascular diseases, oncological patients, and neural degenerating issues is supporting the surging demand for specialty hospitals and aiding it to register significant growth in the future five years. Based on ownership, the market is further divided between public and private hospitals. Private hospitals are anticipated to hold the largest revenue shares of the market and assert its dominance over the market on the account of rapidly increasing privatization of the hospitals. The rapidly increasing number of private hospitals and inclination of the consumers toward the private hospitals is further supporting the growth of the sub-segment and thus drive the growth of the Vietnam hospitals market. Public hospitals or better known as government hospitals are anticipated to hold the significant shares of the market and show substantial growth in the future five years on the account of health insurance benefits from the government initiatives, affordable services, and availability of the government regulated medical procedures. A partial list of market player in the Vietnam hospitals market includes Thai Nguyen International Hospital, Franco-Vietnamese Hospital, Columbia Asia Vietnam, Vinmec International Hospital (Vingroup Corporation), Hoan My Da Nang Hospital, Family Medical Practice Da Nang, Thai Binh Duong – Pacific Hospital, Hanoi French Hospital, Trien An Private General Hospital, Hong Ngoc Private General Hospital, among others. These market players hold larger shares of the market than the new market players. With the evolving technology, it is appropriate to say that the effective research and development of the technologically advanced hospitals and methods to satisfy consumer demands would support the market growth and benefit the market players as well as the consumers. New market players may focus on the research and development to provide such infrastructure and services that satisfies the consumer demand as well as benefits the market players in building their brand value. Other competitive strategies include mergers & acquisitions and new product developments. “Healthcare sector in Vietnam is evolving and efficiently serving its citizen. The government is actively working to improve the healthcare facility for the patient in the provincial hospitals with methods like skill trainings, and doctor rotation programs. Infrastructure upgrades, reimbursement facilities and liberation of rules regarding private investment in healthcare facilities is further driving the growth of the healthcare sector and thus supporting the growth of the Vietnam hospitals market in the upcoming five years. New market players who are anticipating to enter the market must focus on the investment in research and development for hospitals & clinics, diagnostic labs, pharmaceutical and medical devices,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
11
Sample Data - Snapshot Vietnam Hospital Market Size, By Value (USD Million), 2016-2026F 5.00
7.00
6.00
2016
8.00
CAGR By Value
XX%
12.00
11.00
9.00
10.00
2020
2021E
15.00
14.00
13.00
CAGR By Value
2026F
YY%
Vietnam Public Hospital Market Share, By Type, By Value, 2016–2026F General 2026F 2025F 2024F 2023F 2022F 2021E 2020 2019 2018 2017 2016
Specialty
33% 33% 33% 33% 33% 33% 33% 33% 33% 33% 33%
Multi- Speciality 33% 33% 33% 33% 33% 33% 33% 33% 33% 33% 33%
34% 34% 34% 34% 34% 34% 34% 34% 34% 34% 34%
Vietnam Public Hospital Market Share, By Type of Services, By Value, 2016–2026F
Out-Patient Services In-Patient Services
50%
50%
50%
50%
50%
50%
50%
50%
50%
50%
50%
50%
50%
50%
50%
50%
50%
50%
50%
50%
50%
50%
2016
2017
2018
2019
2020
2021E
2022F
2023F
2024F
2025F
2026F
12
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Report Name: VIETNAM HOSPITAL MARKET FORECAST & OPPORTUNITIES 2016 –2026
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