How To Take Your Business To The Next Level With Vietnamese Healthcare Translation Services?
Vietnamese healthcare translation services are a crucial step to reach your Vietnamese audience efficiently.
According to Fitch Solutions, Vietnam’s healthcare spending in 2019 was US$17 billion, or 6.6 percent of its GDP. Healthcare spending is expected to reach US$23 billion in 2022, with a compound annual growth rate (CAGR) of 10.7%. Expectedly, the healthcare business has been one of Vietnam’s fastest-growing and most promising sectors.
In this post, we will show you things about Vietnamese healthcare translation services to take your business to the next level.
Table of Contents
- Reasons to Invest in the Healthcare Industry in Vietnam
- 1. Good Results in Basic Care
- 2. More Challenges, Greater Demand
- 3. Master Plans to Impulse Modernization of Vietnamese Healthcare
- 4. New Opportunities in Healthcare Using Vietnamese Healthcare Translation Services
- Tips for Your Vietnamese Healthcare Translation Services
- Choose your Right Vietnamese Healthcare Translation Services
Reasons to Invest in the Healthcare Industry in Vietnam
1. Good Results in Basic Care
Vietnam remains a poor country, ranked 135th in the world in terms of GDP per capita in 2013 (according to World Bank data). However, when compared to its Southeast Asian competitors, Vietnam has a good overall quality of care, particularly basic primary care.
As a result, the country surpasses most of its Southeast Asian competitors on indicators such as life expectancy and adult mortality, and its newborn mortality rate is similarly low. Despite having almost 2 and 3 times higher levels of disposable income per capita, Vietnam has an overall performance on these indicators comparable to Thailand and superior to Indonesia.
At first sight, statistics on the healthcare business in Vietnam appear to show that the country is doing fairly well in this field, especially when compared to other countries in the region.
However, the statistics obscure the fact that Vietnam’s healthcare system faces significant issues, including overcrowding in hospitals and poor care quality.
2. More Challenges, Greater Demand
While the country’s hospital network, which includes branch, provincial, and national facilities, provides a high number of beds per inhabitant, it has yet to address the issue of high bed occupancy, with Vietnam continuing to surpass the WHO’s recommended occupancy rate of 80 percent.
While nearly all Vietnamese public hospitals are overcrowded or have extremely high occupancy rates, the problem is particularly acute in national-level hospitals in major cities. The majority of Vietnamese patients believe that the quality of medical equipment and medical staff in province-level hospitals is still inferior to that of national-level hospitals.
The outdated medical equipment and the limited access to the latest drugs in Vietnamese public hospitals are commonly cited as the major challenges to improving the quality of care in Vietnam.
As a result, the demand for medical equipment will be high in Vietnam in the future. Therefore, it is a must for your business to use Vietnamese healthcare translation services.
3. Master Plans to Impulse Modernization of Vietnamese Healthcare
The Vietnamese government has established a comprehensive roadmap through 2020 to enhance all main sectors of the country’s healthcare system, aware of the enormous challenges the country has been experiencing.
Since 2012, several master plans have been released, addressing significant issues such as public health insurance, hospital services, and drug access. The hospital master plan outlines a 2020 action plan to address issues such as high bed occupancy rates, among other things.
The major aim is to strengthen the healthcare network and relieve pressure on large national-level hospitals, with strong support for the establishment of new private hospitals and the improvement of existing ones. The Ministry of Health has also released a national health insurance plan in connection with this master plan.
By 2021, the latter has set a national goal of reaching 80% of the population covered. Such a lofty goal adds to the pressure to reform and modernize the healthcare system, particularly its backbone — public hospitals.
4. New Opportunities in Healthcare Using Vietnamese Healthcare Translation Services
In the next few years, Vietnam’s determination to reform its healthcare system should provide lots of business prospects. The first area in which Vietnam will need to improve is its hospital network.
Modernizing hospitals will necessitate a large amount of investment and finance, which Vietnam will not be able to fulfill through traditional sources alone.
The master plan makes it clear that the administration wants to see new privately funded hospitals and clinics built.
According to a public report in June 2014, the market for medical equipment has become one of the faster-growing markets in Vietnam for U.S. manufacturers, due to the pressing need for new medical devices in hospitals. The markets for medical equipment and drugs are expected to achieve double-digit growth over the next few years.
Modernizing the Vietnamese healthcare system will necessitate improved access to new technology and pharmaceuticals, as well as a simplification of the existing regulatory environment and bidding procedures.
This could open up exciting economic opportunities, not only for exporters but also for foreign corporations looking to establish domestic manufacturing operations in the medium to long term. That is the goal of the pharmaceutical master plan, which has set a lofty goal of significantly increasing local production.
Ultimately, rising healthcare spending, along with the need for modernization of the Vietnamese healthcare system and national development ambitions, should keep the healthcare market growing strongly in the future years. The Vietnamese healthcare system is at a crossroads. To enter the Vietnamese market, you should use Vietnamese healthcare translation services.
Tips for Your Vietnamese Healthcare Translation Services
When it comes to localizing your material into Vietnamese using Vietnamese healthcare translation services, there are plenty of local requirements and nuances you should keep in mind to produce high-quality Vietnamese translations that appeal to local consumers.
The following is a list of Vietnamese localization details and regional specifics to be aware of:
- The Vietnamese language uses a large number of personal pronouns. When speaking with your target audiences, you should seek a Vietnamese localization specialist to help you choose suitable pronouns.
- When translating information into Vietnamese, you should be aware of the possibility of word expansion.
- Be aware of the diversity in regional writing styles in Vietnam. Expect substantial differences in spelling and vocabulary.
- The Vietnamese capitalization system is complicated and should be handled with caution.
- If you want to connect with your audience through social media, Facebook is the place to start. Facebook is the most popular social media site in Vietnam, with a massive user community. In reality, Vietnam was ranked sixth among the countries with the most Facebook users as of July 2019. You may see more Vietnamese localization facts here.
The efficiency with which you can produce translations and localizations is influenced by your organization’s corporate culture. To manage that complexity, you must consider the budget.
Vietnamese healthcare translation services are not as straightforward, quick, or easy as sending files and waiting for the job to be translated. Numerous questions arise, making the procedure more difficult than standard translation.
Choose your Right Vietnamese Healthcare Translation Services
Being a native speaker of a target language isn’t enough for GTE Localize. It’s just one factor in what has become one of our industry’s most difficult recruitment, testing, and certification processes.
Our professionals in translation, localization, and subject matter have proven to be trustworthy in the industry for your Vietnamese healthcare translation services.
Besides Vietnamese healthcare translation services, we also offer many other useful translation services that you may need.