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Top 10 health care companies in Vietnam

Top 10 health care companies in Vietnam

Monday 25, 07 2022
According to the Vietnam Country Report 2022 by VietnamCredit, Vietnam’s healthcare industry is also among the most potential sectors and worth investing in 2022 and in the future.

Industry overview

In 2021, despite the complexities of the pandemic, the Department of Health promptly launched plans and implemented the most flexible and safest adaptation activities. As a result, previous years’ targets were effectively put in force by the sector: for example, the percentage of people participating in health insurance reached 91%; the rate of children under 5 years old suffering from stunting and malnutrition decreased to 14.0%; the proportion of the population with electronic health record management was 95%; achieving 27.5 hospital beds/10,000 people; a ratio of 11 doctors/10,000 people; planned bed occupancy of provincial hospitals of 111.5% (-5.6%), with district level hospitals at 110.7% (-9.0%) over the same period.

Department of Health

Moreover, from a country with a very low vaccination rate, Vietnam has risen to become one of the top six countries with the highest vaccination coverage in the world. By the end of 2021, the vaccine coverage rate for people aged 18 years and older was 100%, 1 dose was 100%, 2 doses was 95%; within the age 12-17 cohort 1 dose was 92% and 2 doses was 76%. The number of hospital admissions, severe cases, and deaths decreased markedly throughout the year.

VIETNAM COUNTRY REPORT 2022

In conjunction, listed companies in the healthcare industry found improvement in their business results in 2021. Specifically, the 2021 financial statements of DHG Pharmaceutical Joint-stock Company (DHG) recorded an increase of 5.12% in net profit, reaching over VND 776 billion. Similarly, Cuu Long Pharmaceutical Joint Stock Company (DCL) also recorded VND 87.8 billion of profit after tax in 2021, up 27.43% compared to 2020. Some companies achieved good profit growth: Traphaco Joint Stock Company (TRA) grew by 22.70%, and BinhDinh Pharmaceutical and Medical Equipment Company (DBD) rose by 16.40% compared to 2020.

health sector

In 2022, the health sector will focus on developing a fair, qualitative, effective, and sustainable health system that can adapt to the "new normal" period, contributing to improving health,  and longevity as well as improving the quality of life of Vietnamese people. Further goals include the rate of the population participating in health insurance to reach 92%; achieving 9.4 doctors per 10,000 people; 29.5 hospital beds per 10,000 people; and the continuation of COVID-19 mitigation.

Top 10 largest healthcare companies

The majority of largest players in Vietnam's healthcare industry, according to Vietnam Country Report 2022, are well-established pharmaceutical companies and public/private hospitals with a long history of operation.

In particular, coming out top is FPT Digital Retail Joint Stock Company, a subsidiary of FPT Corporation. This business was established in 2012, and is the owner of the drugstore chain named Long Chau.

Vietnam's healthcare industry

Starting from the acquisition of Long Chau pharmacy in Ho Chi Minh City with 4 stores at the end of 2017, FPT Retail has quickly built and developed a strong system, and had officially opened 600 pharmacies nationwide as of in April 2022. Especially in 1Q2022, the new opening speed was 200 pharmacies/quarter, which may take its competitors a decade to complete.

The revenue of this company in 2021 was VND 14,661,417,032,222 with 8,281 employees.

Next in the list of the 10 largest healthcare enterprises in Vietnam is University Medical Center with a revenue of VND 4,944,580,343,033 in 2021, followed by DHG Pharmaceutical Joint Stock Company (VND 3,755,619,311,324), Vinmec International General Hospital Joint Stock Company (revenue VND 2,816,679,241,131), Saigon Pharmaceutical Company Limited (revenue VND 2,709,538,793,611), …

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VIETNAM COUNTRY REPORT 2022

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