Vietnam Clinical Laboratories Market Outlook to 2027F Driven by Private Hospitals driving the future of Healthcare and Clinical Tests in Vietnam

Vietnam Clinical Laboratories Market Outlook to 2027F Driven by Private Hospitals driving the future of Healthcare and Clinical Tests in Vietnam

The report provides a comprehensive analysis of the potential of Clinical Laboratories Market in Vietnam. The report covers an overview and genesis of the industry, market size in terms of revenue.

Its market segmentations include by types of labs, by independent labs, by private hospitals, by end-users, by payor, by type of tests, by region and by age; growth enablers and drivers; challenges and bottlenecks; trends driving adoption trends; regulatory framework; end-user analysis, industry analysis, competitive landscape including competition scenario and market shares of major players. The report concludes with future market projections of each market segmentation and analyst recommendations.

Market Overview:

According to Ken Research estimates, the Vietnam Clinical Laboratories Market expanded at a CAGR of 24.2% in between 2017 and 2022 on the basis of revenue generated. The market faced rapid growth in the year of 2020 owing to Covid and reflected high growth in 2022 too but the growth is expected to normalize in the coming years. Vietnam Clinical Laboratories Market is estimated to grow at a positive CAGR of 10.4% in between 2023E and 2027E. The Private Health Insurance market is set to grow in double digits which in turn would benefit Private Healthcare and boost the bottom-line.

The Clinical Laboratories Market in the Vietnam has seen emergence of more than 20-30 players over the past 5 years.

Most healthcare facilities in the industry are concentrated in two cities, Ho Chi Minh and Hanoi owing to the higher per capita income, higher population and center for commerce and industrial growth.

Medic-Lab and Diag Laboratories are market leaders for Independent Lab Chains and Hoan My and FV Hospital for Private Hospitals.

Key Trends by Market Segment:

By End-User: The contribution through doctor referrals is low as the firms have to share revenue when entering into such agreements with the doctor. Walk-Ins hold the most contribution at ~229.32 million USD as most of the patients taking any treatment are Walk-Ins for the Hospitals as well as for the Independent Labs.

By Type of Private Hospital Labs: Private Hospitals are not generally looking to tie-up with third parties for clinical laboratory facilities as a major share of their revenues in hospitals is driven by the diagnostic tests. They may partner with the independent clinical labs for certain camps or any particular tests for which they do not have the equipment.

By Type of Tests: Pathology Tests contribute slightly higher to the Revenue as Blood Tests are easily conducted and usually required for diagnosis of most diseases. The Radiology tests are, however, highly priced as compared to Pathology and make up a heavy chunk of the Revenue.

Competitive Landscape

The competitive rivalry is medium among the competitors. There are Private Hospitals and Independent Labs in the market. Hoan My Medical Corporation, Diag Laboratories and Medic-Lab dominated the Clinical Laboratories Market in Vietnam in 2022P.

Future Outlook

The Clinical Laboratories companies can expand into other geographies in the Vietnam, like Hoi An and Da Nang, which can be developed for healthcare. Customer Experience can be key as the market is still fresh and a lot more players can enter.

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