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 aswellasbenefitsthemarketplayersinbuildingtheirbrand 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