The Vietnam health insurance market was valued at USD 2.05 Billion in 2025, 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 2026-2035 to achieve a value of USD 4.00 Billion by 2035.
Base Year
Historical Period
Forecast Period
Vietnam's health insurance sector is projected to grow steadily, driven by increasing digital access, consumer awareness, and rising demand for insurance underwriting, making policies more personalized and inclusive.
Public-private partnerships and modern tech integration are driving evolution in Vietnam’s health insurance market, emphasizing policy portability to improve customer experience and expand access across urban and rural areas.
Growing healthcare expenses and preventive care focus are accelerating demand for coverage, supported by strong claims management systems, streamlining reimbursements and boosting user trust in digital health insurance.
Compound Annual Growth Rate
6.9%
Value in USD Billion
2026-2035
*this image is indicative*
The market is witnessing steady growth driven by government reforms, increased healthcare investments, and rising consumer awareness. Policies aiming for universal coverage, coupled with improved benefit structures, are encouraging greater public participation. At the same time, the market is embracing innovation through digital platforms, making insurance more accessible and efficient. The growing demand for trusted online health insurance is a key trend, as consumers seek convenience and faster services. These developments are collectively shaping a more inclusive and tech-driven health insurance ecosystem across Vietnam.
Rise in Government Initiatives to Drive Market Growth
Increasing government programs, aimed at providing better quality of life to the people is expected to be a growth driver in the market. For instance, in March 2025, Vietnam Social Security reported that over 94.2% of the population (around 95.5 million people), were covered by health insurance, nearing universal coverage. The upcoming amendments to the Health Insurance Law, effective July 2025, will enhance benefits, simplify medical access nationwide, and increase funding allocation for treatments. These improvements, combined with expanded financial support for vulnerable groups, are expected to boost public participation and drive strong market growth. This aligns with the rising demand for affordable health insurance plans.
Increasing Investment in Healthcare to Bolster the Vietnam Health Insurance Market Value
A rise in investments is expected to be a growth driver in the market. For instance, in June 2025, InsuranceAsia reported that Vietnam’s health insurance fund spent over USD 6 billion on patient care in 2024, reflecting a strong commitment to improving healthcare services nationwide. This significant investment supports better access to medical treatments and reduces out-of-pocket expenses for patients, encouraging more people to enroll in health insurance. As a result, demand for reliable health insurance coverage is rising, driving rapid growth and increased trust in the market.
Some of the notable trends include increased adoption of digital insurance solutions, strategic acquisitions, expanded cancer screening coverage, and growing focus on personalized and tech-driven health insurance services.
Expanded Coverage for Early Disease Detection and Care Propelling the Vietnam Health Insurance Sector
In January 2025, Vietnam’s Ministry of Health proposed including common cancer screenings, such as breast and cervical cancer, under health insurance coverage. The Ministry stressed balancing expanded benefits with fund sustainability to prevent misuse. This move highlights a growing attention to early cancer detection and affordable treatment options. As awareness of cancer prevention rises, demand for the best cancer insurance coverage is expected to increase, fueling market growth by improving patient outcomes and lowering long-term healthcare expenses.
Strategic Acquisitions to Accelerate Vietnam Health Insurance Market Demand
In March 2025, Chubb Limited announced the acquisition of Liberty Mutual’s insurance businesses in Vietnam, including Liberty Insurance. This acquisition significantly expands Chubb’s presence with 56 branches, 2,600 brokers and agents, and 26 finance partners. Together, they generated approximately USD 275 million in net premiums in 2024. This strategic move strengthens Chubb’s position to capitalize on the growing demand for comprehensive health insurance solutions and private health insurance policies in Vietnam’s expanding market.
Increasing Collaborations to Accelerate the Vietnam Health Insurance Market Growth
In June 2025, TechNode reported that AIFT and Shin Kong Life formed a strategic partnership to enter Vietnam’s digital insurance sector. This collaboration focuses on leveraging advanced technology to provide more accessible and efficient insurance products to customers. It highlights the growing adoption of digital insurance solutions, addressing the rising demand for convenient, technology-driven health coverage. This partnership is expected to accelerate the modernization of Vietnam’s health insurance industry, making insurance services more user-friendly and expanding market reach across the country.
Term Insurance to Lead the Market Segmentation by Coverage
Term Insurance is expected to lead the market segment due to its affordability and flexibility, making it a popular choice among consumers seeking cost-effective protection. As more individuals become aware of financial planning and risk management, demand for term insurance grows, driving overall market expansion. For example, in the first quarter of 2025, Vietnam’s life insurance sector showed signs of recovery, with term insurance accounting for over 30 percent of new contracts, an increase of nearly 20% year on year, according to the Insurance Association of Vietnam . Other segments include Life Insurance, which offers long-term benefits and savings options but generally at higher costs. The rising interest in term life insurance supports steady growth in the market, driven by growing searches for risk management solutions.
The key features of the market report comprise strategic initiatives by the leading players. The major healthcare companies in the market are as follows:
Founded in 1965 and based in Hanoi, Bao Viet Insurance Corporation is one of the most established insurance providers in Vietnam. It offers a wide range of life and general insurance services to individuals and businesses. With a strong nationwide presence, the company plays a major role in increasing insurance accessibility. Bao Viet’s commitment to expanding private health insurance options contributes significantly to Vietnam’s growing demand for personalized coverage and positions it as a major player in the country’s health insurance landscape.
This company is a part of the Japanese Dai-ichi Life Group, began operations in Vietnam in 2007. Headquartered in Ho Chi Minh City, it provides various life and health insurance solutions. Known for its customer-first approach and community-focused initiatives, Dai-ichi continues to expand its reach through a growing network of agents and digital services. The company’s efforts to promote cost-effective health insurance plans are helping bridge the gap in coverage for middle-income and underserved segments across Vietnam.
It is part of AIA Group, one of Asia’s largest life insurance companies. It started operations in Vietnam in 2000 and offers products across life, health, and savings insurance. Headquartered in Ho Chi Minh City, it has built a strong distribution network including agents, bancassurance partners, and digital platforms. AIA focuses on wellness and long-term protection, contributing to the rising adoption of reliable individual health insurance among Vietnam’s younger, urban population looking for flexible and tech-enabled solutions.
It is a member of UK-based Prudential plc, has operated in Vietnam since 1995. It provides a wide range of life and health insurance services tailored to different customer needs. Headquartered in Ho Chi Minh City, it is known for integrating technology with service delivery and promoting financial literacy. By offering comprehensive insurance coverage, Prudential is meeting the rising expectations of Vietnam’s growing middle class, while supporting market expansion through education and digital transformation.
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Other key players include Chubb Insurance Vietnam Company Limited, Hanwha Health Insurance Vietnam Co., Ltd., and Cathay Health Insurance.
"Vietnam Health Insurance Market Report and Forecast 2026-2035" offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
Market Breakup by Provider
Market Breakup by Coverage
Market Breakup by Mode of Demographics
Market Breakup by Mode
Market Breakup by End User
Market Breakup by Distribution Channel
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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| REPORT FEATURES | DETAILS |
| Base Year | 2025 |
| Historical Period | 2019-2025 |
| Forecast Period | 2026-2035 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Provider |
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| Breakup by Coverage |
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| Breakup by Demographics |
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| Breakup by Mode |
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| Breakup by End User |
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| Breakup by Distribution Channel |
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| Market Dynamics |
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| Supplier Landscape |
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