Vietnam Medical Tourism Market

Market Overview:

Vietnam medical tourism market size is projected to exhibit a growth rate (CAGR) of 23.23% during 2024-2032. The rising prevalence of chronic diseases such as cancer, diabetes, and autoimmune disorders, continuous investments in healthcare infrastructure, and the improving flexibility of the visa policies of Vietnam represent some of the key factors driving the market.

Medical tourism refers to the practice of individuals traveling to other countries to seek medical treatment, often at a lower cost or with better access to specialized healthcare services. It encompasses a wide range of medical procedures and treatments, including but not limited to surgeries, dental care, cosmetic enhancements, and wellness therapies. It often offers competitive pricing, making high-quality medical care accessible to a broader spectrum of patients. It allows individuals to explore different cultures and languages when seeking medical treatment abroad, which can influence their choices and experiences. It enables patients to access specialized medical expertise and advanced treatments that may not be available locally. It helps improve the economic growth of the destination country by generating revenue through healthcare services, accommodations, and ancillary businesses catering to tourists. Moreover, medical tourism extends to wellness programs, spa treatments, and health check-ups for individuals looking to improve their overall well-being.

Vietnam Medical Tourism Market Trends:

The strategic location of the country in Southeast Asia makes it easily accessible to patients from neighboring countries. This geographical advantage is contributing to the rising influx of medical tourists seeking quality healthcare services within the reach of short flights. Additionally, the visa policies of Vietnam are becoming more flexible, facilitating easier entry for international patients. Along with this, the strong presence of world-class medical facilities equipped with state-of-the-art technology and highly trained medical professionals is strengthening the growth of the market. Apart from this, the healthcare sector in Vietnam is embracing a patient-centric approach, focusing on providing personalized care and an exceptional patient experience. Patients visiting the country are often greeted with warm hospitality and comprehensive support, including assistance with travel arrangements, accommodation, and language interpretation. This commitment to patient satisfaction enhances the overall medical tourism experience. Furthermore, Vietnam is continuously investing in cutting-edge medical technologies and equipment, keeping pace with global advancements in healthcare. The availability of advanced diagnostics and treatment options is a significant factor attracting medical tourists seeking the latest medical innovations and minimally invasive procedures. Moreover, the governing authorities of the country are actively supporting the medical tourism sector. They are introducing policies to streamline medical tourism processes, improving infrastructure, and facilitating international collaborations to create a conducive environment for the growth of the industry. Besides this, they are also undertaking several initiatives to enhance healthcare infrastructure and services, facilitating the market growth. In addition, the growing number of individuals sharing successful treatment stories is further solidifying the reputation of the country as a trustworthy and reliable medical tourism destination.

Vietnam Medical Tourism Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on treatment type.

Treatment Type Insights:

• Cosmetic Treatment
• Dental Treatment
• Cardiovascular Treatment
• Orthopaedic Treatment
• Bariatric Surgery
• Fertility Treatment
• Ophthalmic Treatment
• Others
   

The report has provided a detailed breakup and analysis of the market based on the treatment type. This includes cosmetic treatment, dental treatment, cardiovascular treatment, orthopedic treatment, bariatric surgery, fertility treatment, ophthalmic treatment, and others.

Regional Insights:

• Northern Vietnam
• Central Vietnam
• Southern Vietnam
   

The report has also provided a comprehensive analysis of all the major regional markets, which include Northern Vietnam, Central Vietnam, and Southern Vietnam.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Vietnam Medical Tourism Market Report Coverage:

Key Questions Answered in This Report:

• How has the Vietnam medical tourism market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the Vietnam medical tourism market?
• What is the breakup of the Vietnam medical tourism market on the basis of treatment type?
• What are the various stages in the value chain of the Vietnam medical tourism market? 
• What are the key driving factors and challenges in the Vietnam medical tourism?
• What is the structure of the Vietnam medical tourism market and who are the key players?
• What is the degree of competition in the Vietnam medical tourism market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Vietnam medical tourism market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Vietnam medical tourism market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Vietnam medical tourism industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.