Vietnam Diagnostic Imaging Market, By Type (X-Ray Imaging Solutions, Ultrasound Systems, MRI Systems, CT Scanners, Nuclear Imaging Solutions, Mammography, Others), By Mobility (Portable v/s Standalone), By Source (Domestic v/s Import), By Application (Cardiology, Oncology, Neurology, Orthopedics, Gastroenterology, Gynecology, Others), By End User (Hospitals & Clinics, Diagnostic Centers, Ambulatory Care Centers, Others), By Region, Competition Forecast & Opportunities, 2027
Vietnam diagnostic imaging market is anticipated to register growth with an impressive CAGR in the forecast period, 2023-2027, on the account of increasing demand for the early diagnosis of diseases and increased focus on the identification of infectious diseases. Evolving healthcare industry and increasing investment in the diagnostic sector and pharma sector are anticipated to drive the growth of the Vietnam diagnostic imaging market in the upcoming five years.
Diagnostic imaging is a collection of various techniques and utilization of medical devices and procedures to visualize the insides of the human body. Diagnostic imaging as its name describes is an imaging technique to diagnose the illness or disorders in the patient. Various types of diagnostic imaging include magnetic resonance imaging (MRI), x-ray computed tomography scans (CT – Scan), positron emission tomography/CT (PET/CT), ultrasound imaging, x-ray imaging, etc. The basic principle is to use light, sound, or magnetic fields to create an image on detectors and interpret it to understand the abnormalities and thus diagnose the ailment to provide necessary treatment.
Vietnam Healthcare Industry Growth
The influence of Vietnam healthcare industry growth is visible in the medical device sector. High government investment and increasing private investment from foreign bodies further drive the growth of the Vietnam diagnostic imaging market in the upcoming five years. In 2019, Vietnam government had total healthcare expenses of approximately USD17 billion, which was 6.6% of the country’s GDP. Further increase in investment is anticipated in medical device manufacturing that would lead to the growth of the market.
Vietnam medical device supply is majorly dependent on imports from multinational companies outside the country. The lack of resources and advanced technologies with the local companies has given better prospects for the global giants to enter the market and support the growing demands from the consumers for effective and early diagnosis.
Growing Population Drives Market Growth
Demand from the consumers and common population for efficient healthcare services and the increasing burden of the patient suffering from various diseases also substantiate the growth of the Vietnam diagnostic imaging market in the next five years. The geriatric population of the country is rapidly increasing and their susceptibility toward infectious diseases, chronic illnesses, and neurological disorders is very high. Thus, the demand for efficient diagnostic imaging equipment and tools has increased that leads to the growth of the market.
The government also supports the growth of the healthcare system with insurance schemes for patients. In the year, 2019 85.75 million people in the country had health insurance plans which further increased in 2020, to reach 86.88 million. That makes approximately 90% of the population insured for health-related consequences.
Market Segmentation
The Vietnam diagnostic imaging market is segmented by type, mobility, source, application, end user, competitional landscape, and regional distribution. Based on type, the market is bifurcated into x-ray imaging solutions, ultrasound systems, MRI systems, CT scanners, nuclear imaging solutions, mammography, and others. The market segment by mobility is differentiated between portable and standalone. Based on the source, the market is further divided between domestic and import. The application-based market is segmented into cardiology, oncology, neurology, orthopedics, gastroenterology, gynecology, and others. Based on end users, the market is fragmented into hospitals & clinics, diagnostic centers, ambulatory care centers, and others. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among Northern region, Central region, and the Southern region.
Company Profile
GE Healthcare, Philips Healthcare Vietnam, Siemens Healthineers Vietnam, Canon Medical Systems Vietnam, Neusoft Medical Systems Vietnam, Canon Medical Systems Vietnam, AppTech Medical, Inc., FUJIFILM VIETNAM Co., Ltd., Shimadzu Vietnam Co., Ltd., IDS Medical Systems Vietnam Ltd. (idsMED Vietnam), among others is a partial list of major market players of the companies responsible for the growth of Vietnam diagnostic imaging market.
Report Scope:
In this report, Vietnam diagnostic imaging market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
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