Vietnam’s dental market to reach USD2.4bn

Vietnam: The dental services market in Vietnam is projected to reach USD 2.4bn in 2026 due to rising awareness of dental services, changes in lifestyle and diet.

According to Ken Research, the estimated market growth will also be influenced by the rise in periodontitis and teeth decay. Rising demands for aesthetic and cosmetic dentistry will further fuel the growth.

Subscription-based dental services

The research also noted a shift towards subscription-based dental services. Dental practices here are known to offer an annualized or monthly rate that covers professional teeth cleaning, x-rays, regular fillings or treatments.

These subscription plans, the research claims, can be cost-effective for patients while guaranteeing more revenue for dental practices. This revenue model is also gaining traction, thanks to rising per capita income and the prevalence of insurance cover.

Government initiatives

Another push for Vietnam’s growing dental care providers comes from strong government-led initiatives. Among them are short, medium and long-term initiatives, including: Oral care awareness programs, dental tourism, study grants to those pursuing dentistry in higher education.

Despite a lull tourism season plagued by the ongoing pandemic, the Vietnam National Administration of Tourism (VNAT) have set the ambitious target of welcoming 5 million foreign tourists this year. In the first half of 2022, Vietnam received 602,000 foreign tourists, recording an impressive 582% from the same period last year when COVID-19 restrictions were still being enforced.

Digital healthcare

According to Vietnamese health authorities, by the end of 2022, more than 90% of Vietnamese people will have electronic health records, used in medical examination and treatment and health monitoring activities, gradually replacing paper medical records. It was one of the goals set out in the Action Plan for 2022, issued by the National Committee for Digital Transformation in Decision in March.

As part of the government’s push for digital healthcare, the health departments are also promoting and providing support for Telemedicine, AI and Big Data adoption among healthcare providers.

The report “Vietnam Dental Services Market Outlook to 2026F – Driven by Rising Dental Awareness, Dental Tourism, Lower Dental Services Cost and Government’s Strong Initiatives in Healthcare System” by Ken Research provides an analysis of the potential of the Dental Services Industry in Vietnam.

According to the report, the Vietnam Dental Services Market is expected to grow at a CAGR of 6.0% over the forecasted period 2021-2026F.