Tapping into a $23 Billion Market
Vietnam is entering a new era where digital technology is becoming a key driver of growth across various sectors — with healthcare being one of the most crucial. With a population exceeding 100 million, the country is experiencing a significant shift in public awareness around health, marked by a growing demand for preventive, personalized, and convenient healthcare services.
According to a report by Vietnam Report, Vietnam’s healthcare market is expected to reach $23.3 billion by 2025, drawing increasing attention from international investment funds, particularly in the field of primary healthcare.
At the very beginning of 2025, Cercano Management and GGV Capital jointly invested $2.5 million in FDcare during its Series A funding round. This investment enables FDcare to expand its service reach and improve access to high-quality primary care solutions for both individuals and businesses across the country.
“Healthcare is not just about treating illnesses — more importantly, it’s about creating a continuous, personalized medical experience that helps people maintain better long-term health,” said Phan Quynh Hoa, CEO of FDcare.
Driving Forces Behind Vietnam’s Healthcare Market
According to Hoa, several key factors will drive the future growth of Vietnam’s healthcare sector, including an aging population, rising rates of chronic diseases, improved health awareness, and the increasing adoption of advanced technologies.
Citing data from the General Statistics Office of Vietnam, Hoa noted that the elderly population in Vietnam is projected to reach 18% by 2030. This demographic trend will create significant demand for comprehensive primary care services that can effectively manage chronic illnesses and improve quality of life.
Additionally, more Vietnamese are proactively seeking out reliable and high-quality health information and services. This growing awareness is fueling the development of preventive and proactive care models.
Emerging technologies such as telehealth, artificial intelligence (AI), and the Internet of Things (IoT) are revolutionizing healthcare delivery, making services more accessible and convenient. Coupled with rising income levels, people are increasingly willing to pay for high-quality, personalized care — presenting a major opportunity for startups like FDcare.
Building a Comprehensive Healthcare Ecosystem
Originally launched as HeliCare, FDcare pioneered a comprehensive primary care model, integrating services from health screening and personalized consultation to chronic disease management and end-of-life care.
“FDcare aims to be the first and long-term touchpoint in everyone’s healthcare journey — reliable, high-quality, and always available,” said CEO Phan Quynh Hoa.
The new capital will allow FDcare to rapidly expand its nationwide clinic network starting in 2025. Simultaneously, the company will focus on enhancing the healthcare experience for both individual and corporate clients through targeted service offerings.
FDcare is developing a corporate health solutions ecosystem, which includes periodic wellness checkups, expert-led seminars, mental health care services, corporate doctor programs, and premium healthcare packages.
In parallel, FDcare will offer premium, personalized medical services for individuals and families — delivering private, specialized healthcare experiences.
According to Hoa, this expansion marks a step toward redefining access to healthcare in Vietnam. FDcare’s goal is to provide high-quality, customer-centric, comprehensive healthcare solutions that serve both individuals and organizations.
Investors Cercano Management and GGV Capital expressed confidence in Vietnam’s growing primary care market and believe FDcare is on the right track in building a customer-first, integrated healthcare ecosystem.
Previously, FDcare had secured investment from Bert Kwan, Managing Director of Center Back Capital, as well as AiViet Venture led by founder Dinh Thi Hoa, along with several individual investors.
Source: The Leader
