Vietnam Elderly Care Market 2025-2033

Overview
The Vietnam Elderly Care Market is entering a phase of rapid structural growth as demographic change, rising household incomes, and evolving social preferences increase demand for formalized eldercare services. Aging population dynamics, expanding middle-class affordability, and nascent long-term care policy frameworks are driving expansion across home-based care, assisted living, nursing homes, and specialised medical geriatric services. Digital health, telecare, and integrated caregiver platforms are emerging as differentiators for scale and quality in a market transitioning from informal family care toward mixed public–private provision.
According to Phoenix’s Demand Forecast Engine, the Vietnam elderly care market is projected to grow from USD 940.0 million in 2025 to approximately USD 1,790.3 million by 2033, registering a CAGR of 8.1%. In 2024, Ho Chi Minh City & Hanoi metropolitan areas represented the largest share (combined ~48.6%), while Tier-2/3 provincial cities (Da Nang, Can Tho, Hai Phong) are forecast to be the fastest-growing markets with an approximate CAGR of 9.3% during the forecast period.

Key Drivers of Market Growth

1. Rapid Population Aging & Rising Longevity
   Vietnam’s demographic shift toward a larger 65+ population is the primary structural driver. Increased life expectancy and lower fertility rates are creating sustained demand for long-term care, chronic disease management, and assisted living solutions. Phoenix’s Demographic Module projects a notable increase in absolute elder population across both urban and rural provinces through 2033.

2. Income Growth, Urbanisation & Willingness to Pay
   Rising disposable incomes, expanding middle-class households, and higher female labor force participation reduce informal family-care capacity and increase willingness to pay for professional eldercare services. Phoenix’s Sentiment Analyzer Tool signals growing consumer openness to paid homecare, respite services, and private assisted living among urban families.

3. Policy Attention, Insurance Pilots & Private Investment
   Government initiatives to strengthen social care frameworks, pilot long-term care insurance schemes, and public–private partnership encouragement are catalysing institutional investment. International operators and local healthcare groups are forming joint ventures and greenfield projects to capture demand. Phoenix’s Event Detection Engine records increased licensing and investment activity in eldercare facilities since 2022.

Market Segmentation

By Service Type

• Home Healthcare & ADL (Activities of Daily Living) Support

• Assisted Living & Senior Living Communities

• Nursing Homes / Long-Term Care Facilities

• Daycare & Adult Day Services

• Hospice & Palliative Care

• Rehabilitation & Geriatric Medical Services

By Ownership / Provider Type

• Private For-Profit Providers

• Non-Profit / NGO Providers

• Public / Government-Operated Facilities

• Hybrid / PPP Models

By Payer

• Out-of-Pocket (Private Households)

• Private Health / LTC Insurance (Growing)

• Government / Social Welfare Programs

• Employer-Sponsored Care Benefits

By Distribution Channel

• Institutional (On-site Facilities)

• Homecare Agencies & Franchises

• Telecare & Digital Care Platforms

• Community & Volunteer Networks

Region-Level Insights (Vietnam)

Southern Vietnam (Ho Chi Minh City Metropolitan) – CAGR (2025–2033): 7.9% (Largest Combined Share)

• HCMC leads in facility density, clinical geriatric capacity, and private investment. Premium assisted-living and integrated medical-residential developments are concentrated here, driven by higher incomes and international operator presence.

Northern Vietnam (Hanoi & Red River Delta)

• Hanoi mirrors HCMC in demand but shows stronger public-sector programmes and pilot social care schemes. Suburban Hanoi and surrounding provinces are attractive for greenfield assisted-living investments due to lower land costs.

Central Vietnam (Da Nang, Hue) – CAGR (2025–2033): 9.1% (Fastest Growing Sub-Region)

• Tier-2 coastal cities are fast adopters of organized eldercare as retirees and returning migrants prefer mid-sized urban centers with improving healthcare access. Phoenix’s Construction Activity Mapping System notes an uptick in mid-scale facility projects in Da Nang and nearby provinces.

Rural & Mekong Delta Regions

• Growth is slower but notable for homecare demand and NGO/community programs. Limited facility penetration and affordability constraints keep institutional adoption moderate, but homecare franchises and telecare services are expanding to bridge gaps.

Leading Companies & Providers in the Market
Based on Phoenix’s Event Detection Engine and regional intelligence, notable participants and influencers in Vietnam’s elderly care ecosystem include:

• Vinmec / Vingroup (Integrated healthcare & senior living initiatives)

• Hoan My Medical Group (clinical & rehabilitation services)

• FPT Healthcare (digital care & telemedicine platforms)

• Local specialist operators and franchised homecare agencies

• International senior-living developers partnering via JV models
  These actors are pursuing blended models (clinical + residential), partnerships with insurers, and digital care capabilities (remote monitoring, tele-geriatrics) to scale service delivery and quality.

Strategic Intelligence and AI-Backed Insights

• Phoenix Demand Forecast Engine modeled Vietnam’s elderly care growth using demographic projections, per-household care expenditure, and urbanisation rates.

• Construction Activity Mapping System identified over 120 active or planned eldercare facility and assisted-living projects at various development stages across Vietnam, with concentration in HCMC, Hanoi, and Da Nang.

• Sentiment Analyzer Tool highlights increasing family willingness to outsource non-medical caregiving and rising preference for medically integrated assisted-living options.

• Automated Porter’s Five Forces analysis suggests moderate supplier power (clinical staffing constraints) and medium buyer power (price sensitivity among middle income households), with barriers to entry rising for full-service institutional models due to regulatory and staffing requirements.

Forecast Snapshot: 2025–2033

Why the Vietnam Elderly Care Market Remains Critical

• Structural demographic shifts make eldercare a long-term, non-cyclical growth opportunity for investors and operators.

• Formalized care reduces burden on families and supports labour force participation, with socioeconomic benefits.

• The market provides levers for public policy to address ageing (insurance pilots, subsidies, regulation), attracting donor and development finance interest.

• Digital telecare and homecare models are cost-effective pathways to widen access in lower-penetration provinces.

• Professionalization of caregiving (training, credentialing) will be a key barrier and competitive moat for quality providers.

Final Takeaway
The Vietnam Elderly Care Market is transitioning rapidly from predominantly family-based caregiving toward a diversified ecosystem of homecare providers, medically integrated assisted-living, and facility-based long-term care. Investors and operators that combine clinical capability, scalable homecare platforms, and partnerships with insurers or government programmes will capture the largest value pools.
At Phoenix Research, our AI-driven tools map demographic inflection points, facility pipeline dynamics, and payer-landscape shifts—helping stakeholders design go-to-market strategies, prioritise regional roll-outs, and plan workforce and clinical investments to lead Vietnam’s eldercare transformation.