The Vietnam health insurance market was valued at USD 1.92 Billion in 2024, driven by rising government initiatives, expanding insurance coverage, and increased investment in healthcare services across the region. The market is anticipated to grow at a CAGR of 6.90% during the forecast period of 2025-2034 to achieve a value of USD 3.74 Billion by 2034.

Key Market Trends and Insights

• Based on market share by coverage, term insurance is expected to lead in the forecast period.
• For the market segmentation by distribution channel, direct sales are expected to witness a CAGR of 8.1% during the forecast period.
• Public providers are estimated to hold a notable market share in the coming years.

Market Size and Forecast

• Market Size (2024): USD 1.92 Billion
• Projected Market Size (2034): USD 3.74 Billion
• CAGR (2025-2034): 6.90%

The Vietnam Health Insurance market was valued at USD 11.23 Billion in 2024 and is expected to grow to USD 19.67 Billion by 2030 with a CAGR of 8.23%.

In 2023, Prudential had a new business premium income market share of almost ** percent, followed by Daiichi with a **** percent market share. Meanwhile, the Vietnamese state-owned enterprise Bao Viet Life ranked third with around ** percent of the total market share. In that year, the penetration rate of life insurance was at *** percent in the country.Bao Viet HoldingsBao Viet Holdings is among the prominent insurance companies in Vietnam. The state-owned firm has various subsidiaries including Bao Viet Insurance, Bao Viet Life, Bao Viet Fund, Bao Viet Securities, Bao Viet Bank, and Bao Viet Investment. In 2023, non-life gross written insurance premiums of Bao Viet amounted to over **** trillion Vietnamese dong, while life gross written insurance premiums reached about **** trillion Vietnamese dong.Life insurance in VietnamThe number of new life insurance policies has seen double-digit growth in recent years. In 2023, life gross written insurance premiums recorded about *** trillion Vietnamese dong. Life insurance categories include investment-linked policies, endowment insurance, term life insurance, annuity insurance, healthcare insurance, pension insurance, and whole life insurance. The market leaders for life insurance business based on insurance premiums were Bao Viet Life, Manulife, Prudential, and Dai-ichi.

In Vietnam Automation Sensors Market, was valued at approximately USD 10.11 billion in 2022 and is projected to reach USD 12.45 billion by 2029, registering a Compound Annual Growth Rate (CAGR) of 8.65% during the forecast period.

In 2022, health insurance accounted for approximately **** percent of the gross premiums of non-life insurance sector in Vietnam. This was followed by automobile insurance, and property and casualty insurance, with around **** percent and **** percent of the gross premiums of non-life insurance market, respectively.

Vietnam digital health insurance platforms market is valued at USD 1.2 billion, driven by digital adoption, rising healthcare costs, and government initiatives for better access.

The Vietnam travel insurance market was estimated to attain a value of USD 112.77 Million in 2024 and is projected to expand at a CAGR of around 17.30% through 2034. A significant factor driving the Vietnam travel insurance market is the rising demand from digital nomads seeking motorbike accident coverage. As remote workers tour the country via scooters, policies with explicit "Adventure Sports" or motorbike protection, coupled with direct billing at top private hospitals, are gaining strong traction. This in turn is greatly contributing to the Vietnam travel insurance market growth, thus propelling the market to attain USD 556.13 Million by 2034.

Another factor pushing demand in the Vietnam travel insurance market is the rise in policies covering natural disaster-related trip cancellations and evacuations. In Q4 2024, insurers introduced specialized products after Typhoon Yagi caused over USD 80 million in damage, prompting PVI Insurance and others to develop add-ons for storm and flood disruptions. This trend reflects growing traveller concern and insurer innovation, offering protection not only for medical emergencies but also for weather-induced itinerary changes, thus addressing real risks in a typhoon-prone destination.

In December 2024, Tune Protect and AirAsia launched the AirAsia Comprehensive Travel PLUS insurance in Vietnam, featuring cashless hospital admissions for travellers departing Vietnam at no extra cost, and access to 7,500+ global hospitals. This game-changing feature significantly enhances traveller confidence by eliminating upfront medical expenses abroad and simplifying claims through in-app coordination with medical providers, tailored to the needs of international tourists and digital nomads., thus boosting the growth of the Vietnam travel insurance market. It signals a broader shift in Vietnam's travel insurance market towards frictionless healthcare support, embedding real-time assistance directly into travel experiences.

The Vietnam life insurance market was valued at USD 6.58 Billion in 2024. The industry is expected to grow at a CAGR of 6.30% during the forecast period of 2025-2034. Increasing urbanization has led to the surging demands for life insurance policies with consumers increasingly seeking financial security, retirement planning, and health protection amid increasing living expenses and lifestyle-related risks. In turn, all these factors have resulted in the market attaining a valuation of USD 12.12 Billion by 2034.

In 2023, health insurance recorded the highest value of gross premiums of non-life insurance in Vietnam, reaching over **** trillion Vietnamese dong (VND). In that year, the gross premiums for automobile insurance in the country amounted to around **** trillion VND, following by fire and explosion insurance with over *** trillion VND value of gross premiums. Automobile insurance in Vietnam In 2022, Vietnam experienced a significant surge in vehicle sales. As a result, the country is expected to see a consistent annual growth in the number of cars in use per 1,000 inhabitants. For car owners in Vietnam, civil liability insurance is compulsory. This insurance bears liability for any third party that suffered from damage caused by the insured car. In addition to that, car owners can voluntarily take out comprehensive car insurance which covers physical damage to the car. Non-life insurance in Vietnam The gross written premiums of the non-life insurance segment in the country amounted to over ** trillion VND in 2023. The market leaders, also referred to as the “big 5” of non-life insurance, included PVI, Bao Viet, PTI, Bao Minh, and Pjico. Compared to the previous year, business interruption insurance, fire and explosion insurance, health insurance, guarantee insurance, credit and financial risk insurance, hull and P&I insurance, cargo insurance, as well as automobile insurance had the highest growth rates within the non-life insurance sector.

Vietnam Fintech Market size was valued at USD 21.5 Billion in 2024 and is projected to reach USD 70.4 Billion by 2032, growing at a CAGR of 16% during the forecast period 2025 to 2032. Vietnam Fintech Market: Definition/Overview

Fintech in Vietnam is the integration of technology into financial services to improve efficiency, accessibility, and security. It includes a variety of digital solutions, such as mobile payments, digital banking, peer-to-peer (P2P) financing, blockchain-based transactions, and rob o-advisory services. The growing use of e-wallets, online payment gateways, and alternative financing platforms has altered financial transactions, making them more frictionless and inclusive, especially for the unbanked population.

Vietnam's fintech is expected to grow rapidly, owing to rising internet penetration, government backing for cashless payments, and rising consumer demand for digital financial services.

GlobalData, the industry analysis specialist, has released its latest report: “CountryFocus: Healthcare, Regulatory and Reimbursement Landscape – Vietnam”. It is an essential source of information on and analysis of the healthcare, regulatory and reimbursement landscape in Vietnam, identifying key trends in the healthcare market and providing insights into the demographic, regulatory, reimbursement landscape and healthcare infrastructure. Most importantly, the report provides valuable insights into the trends and segmentation of the pharmaceutical and medical devices market, using data and information sourced from proprietary databases, secondary research and in-house analysis by GlobalData’s team of industry experts. In 2015, Vietnam’s population stood at 92 million, an increase from 85 million in 2008 due to the high birth rate and low mortality rate. The country’s pharmaceutical market was estimated to have been worth $3.5 billion in 2015 and is expected to reach $6.6 billion by 2020 at a projected Compound Annual Growth Rate (CAGR) of 13.8%. The medical device market was estimated at approximately $295m in 2015 and is expected to grow at a CAGR of 11.3% to $505m by 2020. The positive trends in Vietnam’s healthcare market can primarily be attributed to: Increasing coverage of healthcare insurance Government initiatives to improve healthcare facilities Read More

The Vietnam revenue cycle management market size is projected to exhibit a growth rate (CAGR) of 8.3% during 2025-2033. The increasing digital transformation in the healthcare industry, the rising medical tourism in the country, and the growing promotion of health insurance coverage by governing authorities represent some of the key factors driving the market.

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2025-2033. Our report has categorized the market based on type, component, deployment mode, and end user.

Comprehensive dataset of 1 Health insurance agencies in District 4, Ho Chi Minh City, Vietnam as of August, 2025. Includes verified contact information (email, phone), geocoded addresses, customer ratings, reviews, business categories, and operational details. Perfect for market research, lead generation, competitive analysis, and business intelligence. Download a complimentary sample to evaluate data quality and completeness.

Comprehensive dataset of 1 Health insurance agencies in Yên Hưng, Quảng Ninh, Vietnam as of August, 2025. Includes verified contact information (email, phone), geocoded addresses, customer ratings, reviews, business categories, and operational details. Perfect for market research, lead generation, competitive analysis, and business intelligence. Download a complimentary sample to evaluate data quality and completeness.

Comprehensive dataset of 1 Health insurance agencies in Lộc Bình District, Lạng Sơn, Vietnam as of August, 2025. Includes verified contact information (email, phone), geocoded addresses, customer ratings, reviews, business categories, and operational details. Perfect for market research, lead generation, competitive analysis, and business intelligence. Download a complimentary sample to evaluate data quality and completeness.