Drug and medical service costs in Vietnam rose by 0.31 percent in February, driven by higher medical service fees and increased demand for medications, according to the Vietnam’s Consumer Price Index. The medical services price index increased by 0.36 percent following the implementation of new service pricing under Circular No. 21/2024/TT-BYT, issued by the Ministry of Health.
Seasonal changes in the north contributed to a rise in flu and respiratory illnesses, increasing demand for essential medications. Vitamin and mineral drug prices rose by 0.21 percent, respiratory drugs increased by 0.17 percent, pain relievers and antipyretics were up by 0.1 percent, and gastrointestinal drug prices increased by 0.04 percent, according to Vietnam’s General Office of Statistics.
In general, drug and medical service costs in Vietnam vary depending on the type of healthcare facility, the quality of care, and whether the treatment is sought in public or private hospitals. Overall, healthcare costs in Vietnam remain relatively affordable compared to many Western countries, though prices have been rising due to increased demand, inflation, and improvements in medical technology.
Public hospitals offer lower-cost medical services, with fees regulated by the government. However, these facilities often experience overcrowding, leading some patients to seek treatment in private hospitals, where costs are significantly higher. Private healthcare facilities provide faster service, modern equipment, and more personalized care, but consultation and treatment fees can be expensive, especially for complex procedures.
The cost of prescription drugs depends on whether they are locally produced or imported. Locally manufactured generic medicines are generally affordable, while imported brand-name drugs, particularly those for chronic conditions and specialized treatments, can be costly. Pharmacies across the country sell both prescription and over-the-counter medications, but prices may vary between locations.
Health insurance helps reduce medical expenses, with the government offering social health insurance for citizens and private insurance options available for additional coverage. Despite this, out-of-pocket healthcare spending remains high, especially for those who prefer private medical services or require specialized treatments.
That said, drug and medical service costs in Vietnam are generally affordable but vary based on the type of facility and treatment. While public healthcare remains cost-effective, private hospitals and imported medicines can be expensive, making health insurance an important factor in managing medical expenses.
See also: Healthcare Industry in Vietnam