Vietnam’s Private Healthcare Sector: A Strategic Growth Market for Institutional Investors

Vietnam’s healthcare system is at a pivotal juncture. While public hospitals continue to dominate in volume, they are increasingly strained as operating at 200% of intended capacity in major urban centers such as Hanoi and Ho Chi Minh City. This structural overload has led to rising demand for private healthcare services, particularly among Vietnam’s expanding middle class and aging population. 

Vietnam’s Private Healthcare Sector: A Strategic Growth Market for Institutional Investors 

Vietnam’s healthcare system is at a pivotal juncture. While public hospitals continue to dominate in volume, they are increasingly strained as operating at 200% of intended capacity in major urban centers such as Hanoi and Ho Chi Minh City. This structural overload has led to rising demand for private healthcare services, particularly among Vietnam’s expanding middle class and aging population. 

According to the Vietnam Private Healthcare Sector Preview, developed by FiinResearch, a division of FiinGroup, the private healthcare market is projected to grow at a compound annual growth rate (CAGR) of 7.5% from 2025 to 2030. 

Key Market Drivers and Policy Support 

• Government-led sector restructuring: In February 2024, Decision 201/QD-TTg outlined a national healthcare network planning to 2050, targeting 15% of hospital beds in private facilities by 2030. 

• Rising disposable income: GDP per capita is expected to reach US$7,500 by 2030, with average disposable income increasing by 56% over the same period. 

• Demographic transition: Vietnam is entering a fast-aging phase, intensifying the need for long-term care and specialized services. 

• Outbound medical spending: Vietnamese citizens spend approximately US$2 billion per year seeking medical treatment abroad, indicating unmet demand for high-quality local services. 

• Healthcare digitization and innovation: Hospital Information Systems (HIS), Electronic Health Records (EHRs), and telemedicine are accelerating in adoption. 

Investment Highlights and Sector Opportunities 

The private healthcare sector has attracted a wave of new investments and M&A transactions, with a focus on upgrading key hospitals to international standards and expanding private hospital capacity. Areas with particularly high potential include: 

• Private hospitals and specialty clinics, particularly in oncology and diagnostics 

• Medical tourism, driven by cost-competitive services and regional demand 

• Digital healthcare infrastructure, especially HIS and telemedicine platforms 

• Medical devices and pharmaceuticals, with imports valued at US$1.7 billion and US$4.4 billion respectively in 2024 

FiinResearch: Supporting Informed Capital Allocation 

As a part of FiinGroup, FiinResearch has established itself as a leading provider of industry intelligence, commercial due diligence, and customized market advisory for both domestic and international investors. Our services include: 

• Sector-specific market studies and growth forecasts 

• Investment target screening and market entry strategy (M&A, JV, FDI) 

• Regulatory and policy analysis tailored to investor needs 

• Comprehensive commercial due diligence for strategic transactions 

📥 To explore the full sector insights and strategic recommendations, download the report HERE
📧 research.support@fiingroup.vn 
📞 +84 (24) 3562 6962 

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