Vietnam Surgical Robotics Market Assessment, By Component Type [System, Accessories, Services], By Surgery Type [Gynaecology, Urology, Neurosurgery, Orthopaedic, General Surgery, Others], By End-user [Hospitals, Ambulatory Surgical Centres], By Region, Op

Vietnam Surgical Robotics Market Assessment, By Component Type [System, Accessories, Services], By Surgery Type [Gynaecology, Urology, Neurosurgery, Orthopaedic, General Surgery, Others], By End-user [Hospitals, Ambulatory Surgical Centres], By Region, Opportunities and Forecast, 2016-2030F

Vietnam surgical robotics market is expected to witness a CAGR of 13.4% during the forecast period between, 2023-2030F, from USD 101.2 million in 2022, to USD 276.7 million in 2030. Vietnam is a rapidly developing country in Southeast Asia, especially in healthcare sector. In recent years, surgical robotics technology has become increasingly popular in Vietnam, with the growing number of hospitals and clinics adopting this technology to improve patient outcomes. Surgical robotics is a form of minimally invasive surgery that uses robotic systems to perform surgical procedures with greater precision and control than traditional surgical methods. Robotic surgery has many advantages, including reduced pain and scarring, shorter recovery times, and improved surgical outcomes.

In Vietnam, surgical robotics technology is in its early stage with rapid market growth. The major Vietnam surgical robotics market players include Intuitive Surgical, Medtronic, and Stryker. The demand for surgical robotics technology in Vietnam is being driven by several factors, including an increasing number of surgeries being performed, growing aging population, rising healthcare spending, and shortage of skilled surgeons. As Vietnam continue to modernize its healthcare system, the adoption of surgical robotics technology is expected to continue to grow, providing new opportunities for companies in the field. With the potential to improve patient outcomes and reduce healthcare costs, surgical robotics technology will likely play an increasingly important role in the future of healthcare in Vietnam.

For example, in August 2023, THINK Surgical and Curexo joined forces to form a development and distribution partnership. Their longstanding history of development collaboration led to Curexo distributing THINK's TSolution One platform in Korea and Vietnam. Under this new agreement, the companies will continue working together to incorporate existing THINK technology and newly developed innovations into Curexo's CUVIS-Joint orthopaedic surgical robot platform. The primary objective of this collaboration is to bolster the capabilities of the orthopaedic surgical robot, potentially revolutionizing the field of orthopaedic surgery and ultimately providing significant benefits to patients in need of advanced and precise surgical interventions. This strategic partnership represents a significant step towards advancing medical technology and improving patient outcomes in the realm of orthopaedic care.

Usage of Mixed Reality for Remote Training

Mixed Reality (MR) technologies are emerging as a promising tool for remote training in the Vietnam surgical robotics market. MR technologies, which blend virtual and real-world environments, can provide immersive and interactive training experiences for surgeons and other healthcare professionals. By using MR, surgeons can remotely simulate surgeries, practice procedures, and interact with virtual patients, without physically being in the same location. It can be especially valuable in Vietnam, where some areas may have limited specialized training and education access. MR technologies can reduce the need for travel and in-person training, which can be costly and time-consuming. As MR technologies continue to improve and become more widely available, they can potentially revolutionize surgical training in Vietnam, improving patient outcomes and increasing access to high-quality surgical care.

Development of New Surgical Applications

Vietnam surgical robotics market is witnessing a surge in the development of new surgical applications, signifying a transformative era in medical technology. Advancements in robotic systems, combined with cutting-edge software and artificial intelligence, are driving the creation of innovative solutions for various medical specialties. Surgeons can have access to robotic platforms that enable complex procedures with enhanced precision and reduced invasiveness, resulting in improved patient outcomes and shorter recovery times. Additionally, these advancements have opened doors to novel applications in previously challenging surgical areas, such as neurosurgery, cardiovascular surgery, and minimally invasive procedures.

The continued development of new surgical applications is poised to revolutionize healthcare in Vietnam, offering medical professionals an array of tools to elevate the standard of care and optimize patient experiences. For example, the Head of Urology Department at Vinmec Central Park International General Hospital mentioned kidney cancer as a significant threat with escalating mortality rates. As surgical intervention remains the primary treatment for this disease, the groundbreaking advancement in robot-assisted laparoscopic surgery for kidney cancer, can exhibit high efficacy in enhancing patient outcomes.

For example, in 2023, Vietnamese scientists successfully developed an intelligent humanoid robot, marking a significant achievement in robotics and artificial intelligence. The creation showcases Vietnam's progress in cutting-edge technology and its potential to contribute to various industries, including healthcare, education, and customer service. The intelligent humanoid robot is equipped with advanced capabilities, including speech recognition, natural language processing, and human-like movements, making it a promising step towards integrating AI-driven robotics in various sectors.

Flexible Financing for Acquiring Robotics Surgery Technology

Flexible financing options are an important consideration for hospitals and clinics in Vietnam looking to acquire surgical robotics technology. The high cost of these systems can be a barrier to adoption, particularly for smaller or less well-funded facilities. To overcome, the manufacturers and suppliers of surgical robotics systems are offered financing options, such as lease-to-own arrangements or installment plans, to make the technology more accessible to healthcare providers. These financing options can help hospitals and clinics to manage the upfront costs of acquiring surgical robotics technology, while spreading the payments in long run. Additionally, it can help to reduce the risk of investment for healthcare providers, allowing them to test the technology before committing to a full purchase. As the demand for surgical robotics technology in Vietnam grows, flexible financing options will likely become increasingly important, providing new opportunities for hospitals and clinics to improve patient outcomes and reduce healthcare costs.

Impact of COVID-19

The COVID-19 pandemic had both, positive and negative impact on the surgical robotics business in Vietnam. Positively, the pandemic highlighted the need of new medical technologies, including surgical robots, to improve treatments for patients and lowering infection risk. As a result, to fulfil the needs of the pandemic, certain healthcare facilities in Vietnam increased their deployment of surgical robot technology. The pandemic, however, disrupted the supply chain for surgical robotic devices and associated equipment, causing delays in shipping and setting of new equipment. Additionally, the financial impact of the pandemic has resulted in budget constraints for hospitals and clinics, which may limit their ability to invest in new surgical robotics technology. Despite these challenges, the long-term outlook for the Vietnam surgical robotics market remained positive, as the adoption of advanced medical technology was a priority for the country's healthcare sector. As the pandemic subsided, the demand for surgical robotics is further expected to rebound, providing new opportunities for growth and innovation in the market.

Key Player Landscape and Outlook

Vietnam surgical robotics market is a rapidly growing and competitive industry, with several key players competing for their market share. The major players in the market include Intuitive Surgical, Medtronic, and Stryker, and others. These companies offer a range of surgical robotics systems and related equipment, including robotic surgical and imaging systems and surgical instruments. In addition to these established players, there are several emerging companies in the Vietnam surgical robotics market, including local startups and international companies are looking to expand their presence in the region. As the market continue to grow, competition is expected to increase, driving the innovation and improvements in technology and cost-effectiveness.

Looking ahead, the outlook for the Vietnam surgical robotics market is positive, with increasing demand for advanced medical technology and growing number of surgeries being performed. However, the market faces challenges, including regulatory hurdles and financial constraints for hospitals and clinics. For example, in 2023, Vietnamese scientists invented a robot arm, designed for 3D printing in the human body. The cutting-edge technology opens up unprecedented possibilities for medical procedures, enabling surgeons to perform intricate surgeries with precision and accuracy. The robot arm's ability to navigate and create intricate structures inside the body can revolutionize the field of medicine, offering new ways to treat complex conditions and improve patient outcomes.