Government encouraging foreign investment in Vietnam healthcare
Tuesday, August 18, 2015
Vietnam’s healthcare market expenditure is expected to grow from $12.90 billion in 2014 to $27.48 billion in 2020 or a compound annual growth rate of 13.4 percent, according to research analyst firm Frost & Sullivan.
"The deployment of the universal health coverage scheme has escalated demand for healthcare services in Vietnam," said Frost & Sullivan Healthcare Research Analyst Philip Tay. "The program is swinging public health expenditure towards low-cost, centralized purchases, thus shifting preference to affordable generics over branded drugs, and basic medical devices instead of high-end technology."
The report noted that while the government favors local manufacturing, it is also working with global pharmaceutical players to create a solution that will benefit both parties and push the market ahead.
- Health Care