Vietnam Dental Services Market [2027]: Navigating Opportunities and ChallengesPosted by Kumar on June 5th, 2024 The Vietnam dental services market is witnessing substantial growth and is projected to continue its upward trajectory through 2027. As highlighted by TechSci Research in their report, "Vietnam Dental Services Market - By Region, Competition Forecast & Opportunities, 2027," the market is anticipated to register an impressive compound annual growth rate (CAGR) due to several factors. These include the burgeoning oral care industry, high production of dental care products, and increasing awareness about the importance of oral hygiene. Vietnam’s rapid economic development, urbanization, and rising consumer purchasing power are pivotal drivers of this growth. The nation has seen significant GDP growth, averaging 6.8% annually between 2010 and 2020, and continued economic expansion is expected to bolster the healthcare sector, including dental services. Browse over XX market data Figures spread through 70 Pages and an in-depth TOC on "Vietnam Dental Services Market" Recent Trends and Drivers Economic Growth and Urbanization Vietnam is one of the fastest-growing economies in Southeast Asia, with the World Bank projecting a GDP growth of 6.5% in 2021 and 6.7% in 2022. This robust economic performance is fueling the expansion of the healthcare market, including dental services. A growing middle class with increased disposable income is driving demand for better healthcare services, including dental care. Rising Prevalence of Dental Issues According to the TeethJaw-Face Hospital, over 90% of Vietnamese people experienced dental problems in 2018, with 85% of children suffering from tooth decay. The prevalence of dental caries in the general population is 67%, while periodontal disease affects 72%. Such high incidences of dental issues underscore the need for improved dental care services and infrastructure. Government Initiatives and Awareness Campaigns The Vietnamese government has been proactive in addressing dental health issues through various awareness campaigns. Despite the low dentist-to-population ratio, with one dentist for every 25,000 people, efforts are being made to train more dental professionals to meet the growing demand. Government initiatives are crucial in spreading awareness about oral hygiene and the importance of regular dental check-ups. Medical Tourism Vietnam is becoming an attractive destination for medical tourism, particularly for dental services. The affordability of dental procedures compared to neighboring countries attracts a significant number of foreign patients. This influx not only boosts the local economy but also drives improvements in the quality and availability of dental services. Detailed Market Segmentation By Service The Vietnam dental services market is segmented into prosthodontics, endodontics, cosmetic dentistry, periodontics, and others.
By Market Structure The market is categorized into organized and unorganized dental clinics.
By Patient Type The market serves various patient types, from children to adults and the elderly. Increasing instances of dental infections and a lack of dental care among adults and the geriatric population are key factors driving market growth. Competitive Analysis The Vietnam dental services market is highly competitive, with numerous players striving to capture market share. Major market players include:
These players are investing in advanced technologies, expanding their service offerings, and enhancing their presence to cater to the growing demand for dental services. Market Challenges Dental Workforce Shortage Vietnam faces a significant shortage of dental professionals, with a dentist-to-population ratio of 1:25,000. This shortage hampers the ability to provide adequate dental care, particularly in rural and underserved areas. Training and retaining more dental professionals is crucial for addressing this gap. High Prevalence of Dental Diseases The high prevalence of dental diseases such as caries and periodontal issues poses a significant challenge. Preventive care and early intervention are essential to reduce the burden of these diseases. Public health campaigns focusing on oral hygiene can play a pivotal role in this regard. Economic Disparities Economic disparities in Vietnam mean that access to dental care is uneven. While urban areas have better access to dental services, rural and mountainous regions still struggle with inadequate healthcare infrastructure. Addressing these disparities requires targeted efforts to improve healthcare access in underserved areas. Recent Developments
Benefits of the Research Report The research report on the Vietnam dental services market offers numerous benefits:
The Vietnam dental services market presents significant growth opportunities, driven by economic development, rising awareness of oral health, and increasing consumer purchasing power. However, challenges such as workforce shortages, high disease prevalence, and economic disparities must be addressed to ensure equitable access to dental care across the country. The competitive landscape is evolving, with major players expanding their presence and investing in advanced technologies to cater to the growing demand. The market's future looks promising, with continued government support, rising medical tourism, and a focus on preventive care likely to drive sustained growth. By staying abreast of market trends, investing in workforce development, and leveraging technological advancements, stakeholders in the Vietnam dental services market can capitalize on the opportunities and navigate the challenges to achieve long-term success. Customers can also request for 10% free customization on this report. “Growing dental health awareness and affordable dental services in the county are major factors responsible for the growth of the Vietnam dental services market in the upcoming five years. Vietnam’s dental tourism might grow by 250% in recent future due to increasing investments from multiple market players and capitalizing the lucrative market. Increasing imports of the dental equipment and tools would support the market growth with higher success rates if the dental services performed. Cosmetic dentistry is also a budding scope of dental service that is driving the potential market growth. New market players may focus on collaborated imports of the advanced technological equipment and providing better dental service that guarantees better healing and recovery thereby aiding their brand establishment in the market,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm. “Vietnam Dental Services Market By Service (Prosthodontics {Porcelain Veneers, Crowns, Fixing Bridges, Others}, Endodontics {Treatment of Dental Pulp, Root Canal Treatment}, Cosmetic Dentistry {Cosmetic Teeth Whitening, Cosmetic Teeth Shaping & Teeth Bonding, Carbon Post, Others}, Periodontics {Gum Graft Surgery, Laser Treatment, Others}, Others), By Market Structure (Organized Dental Clinics v/s Unorganized Dental Clinics), By Patient Type (Inbound v/s Outbound), By Region, Competition Forecast & Opportunities, 2027” has evaluated the future growth potential of Vietnam dental services market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Vietnam dental services market. Read Blog- The Growing Diagnostics Lab Market in India: An In-Depth Analysis Like it? Share it! More by this author |