Surge in demand for technically advanced medical device is driving the growth of Vietnam Medical devices Market, in the forecast period, 2023-2027.
Vietnam Medical Devices Market is anticipated to grow at a significant rate during the forecast period. The market growth can be attributed to the surging demands for medical devices from the healthcare industry and the rising need for the effective and efficient diagnosis, treatment, and monitoring procedures. Besides, high investments in the development of medical technologies and increasing R&D initiatives by key players involved in the Vietnam medical devices market are adding to the market growth.
Most pharmaceutical and biotechnological companies are focusing on developing new medical technologies to accommodate the growing needs of patients, aiding the growth of the Vietnam medical devices market. Favorable policies by regulatory authorities of the country for the approval of medical devices and rising incidences of chronic disorders such as diabetes, hypertension, cardiovascular diseases, etc., are propelling the growth of the Vietnam medical devices market.
The rise in the number of inpatient admissions and surgical and diagnostic procedures also contributes to the growth of the Vietnam medical devices market during the forecast period. The presence of adequate and favorable reimbursement policies, well-developed healthcare infrastructure, and advanced medical technologies are some of the other factors fueling the growth of the Vietnam medical devices market. The high acquisition cost of medical devices and subsequent maintenance costs could restrain the growth of the Vietnam medical devices market in the forecast period.
Browse over XX market data Figures spread through 70 Pages and an in-depth TOC on "Vietnam Medical devices Market"
The Vietnam medical devices market is segmented by type, end-user, regional distribution, and competitional landscape. The type segment is further divided into cardiovascular devices, diagnostic imaging equipment, in-vitro diagnostic devices, ophthalmic devices, diabetes care devices, dental care devices, surgical equipment, orthopedic devices, patient monitoring devices, nephrology & urology devices, ENT devices, anesthesia & respiratory devices, neurology devices, mobility-aid devices, and others.
Amongst type category, the in-vitro diagnostics (IVD) segment is anticipated to dominate the Vietnam medical devices market owing to the increasing uptake of real-time diagnostic tests and growing requirement for the precise diagnosis of chronic and infectious diseases.
Leading players in the Vietnam medical devices market include Stryker Corporation Vietnam, USM Healthcare Medical Devices Factory JSC, Medical Devices and Biomaterial Plant Joint Stock Company, Getz Healthcare (Vietnam), Omron Healthcare Vietnam, B. Braun Vietnam Co., Ltd., Hoya Lens Vietnam Ltd., Japan Vietnam Medical Instrument JSC, Armephaco Joint Stock Company, Terumo Vietnam Medical Equipment Co., Ltd, GE Healthcare Vietnam, etc.
Years considered for this report:
Historical Years: 2017-2020
Base Year: 2021
Estimated Year: 2022
Forecast Period: 2023–2027
Objective of the Study:
To analyze the historical growth of the market size of Vietnam medical devices market from 2017 to 2020.
To estimate and forecast the market size of Vietnam medical devices market from 2021 to 2027 and growth rate until 2027.
To classify and forecast Vietnam medical devices market based on type, end user, competitional landscape, and regional distribution.
To identify dominant region or segment in the Vietnam medical devices market.
To identify drivers and challenges for Vietnam medical devices market.
To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Vietnam medical devices market.
To identify and analyze the profile of leading players operating in Vietnam medical devices market.
To identify key sustainable strategies adopted by market players in Vietnam medical devices market.
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TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of medical devices, suppliers, and service providers across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies.
While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufactures which could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufactures, distribution channels and presence of all major players across the country.
TechSci Research calculated the market size of Vietnam medical devices market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Press Release: https://www.techsciresearch.com/news/6347-vietnam-medical-devices-market-to-grow-due-to-technological-advancement-until-2026.html
Key Target Audience:
Medical devices, service provider, infrastructure producers, end users, and other stakeholders
Distributors and suppliers of the products and other stakeholders
Organizations, forums, and alliances related to medical devices
Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as medical devices, suppliers, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Company Profiles: Detailed analysis of the major companies present in Vietnam medical devices market.
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
Detailed analysis and profiling of additional market players (up to five).