Vietnam Sees Growth in Medical Tourism Sector
Vietnam’s healthcare sector is expanding rapidly, drawing interest from investors seeking to tap into the country’s growing medical tourism market.
Market size and growth trajectory
According to a report from the Ho Chi Minh City Department of Tourism, medical tourism now generates roughly US$2 billion a year. The same source estimates that about 300,000 foreign visitors come to Vietnam annually for medical examinations and treatments, with the city itself attracting roughly 40 percent of that flow.
Vietnam’s overall healthcare market was valued at US$16.2 billion in 2020, representing 6 percent of GDP. Projections from a market study show spending rising to US$20.3 billion by 2025 and US$33.8 billion in 2030, reflecting a compound annual growth rate of about 7.6 percent.
Dental care has become a particular draw, with international clinics offering English‑speaking dentists and prices far below those in the United States. Patients from the U.S., Australia and Europe often combine treatment with leisure travel, extending stays to explore the region.
Opportunities for foreign firms
Advanced medical technologies and specialized treatments are in rising demand as Vietnam’s infrastructure improves. Companies that provide cutting‑edge equipment, AI‑driven health platforms or niche services such as cardiac surgery may find receptive partners.
Collaboration with local hospitals—many of which have earned Joint Commission International (JCI) accreditation—can ease market entry. Joint ventures or supply agreements allow foreign firms to leverage existing networks while gaining insight into local regulatory practices. They can also explore company formation options to establish a presence in Vietnam.
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Beyond equipment, the tourism sector itself is aligning with healthcare providers. More than 50 establishments in Ho Chi Minh City—including hospitals, spas and travel agencies—have launched bundled medical‑tourism packages, offering patients a mix of treatment, accommodation and cultural experiences.
Challenges and constraints
Despite these positives, Vietnam remains less known than regional rivals such as Thailand or Singapore. Potential visitors often cite concerns about safety, hygiene, language barriers and legal protections.
A lack of a unified policy framework further complicates development. Regulatory uncertainty also extends to land use, investment incentives and certification standards, which can deter large‑scale projects. Journalists on the scene report that environmental considerations and capital constraints in resort‑linked tourism add another layer of risk.
Coordinated planning between health services, hotels and local authorities is needed to sustain growth without overburdening resources.
Investors should weigh these systemic issues against the potential returns.
They must consider the risks.
