Vietnam Medical Devices Market, By Type (In-vitro Diagnostic Devices, Diagnostic Imaging Equipment, Cardiovascular Devices, Diabetes Care Devices, Surgical Equipment, Dental Care Devices, Ophthalmic Devices, Patient Monitoring Devices, Orthopedic Devices,

Vietnam Medical Devices Market, By Type (In-vitro Diagnostic Devices, Diagnostic Imaging Equipment, Cardiovascular Devices, Diabetes Care Devices, Surgical Equipment, Dental Care Devices, Ophthalmic Devices, Patient Monitoring Devices, Orthopedic Devices, Nephrology & Urology Devices, ENT Devices, Anesthesia & Respiratory Devices, Neurology Devices, Mobility-Aid Devices), By End User (Hospitals & Clinics, Diagnostic Centers, Others), By Region, Competition, Forecast & Opportunities, 2017-2027

Vietnam medical devices market stood at USD 1,832.49 million in 2021 and is expected to grow at a steady CAGR of 12.27% during the forecast period. This can be estimated to grow at a robust rate during the forecast years.

The Vietnam medical devices market is driven by an increase in the geriatric population of Vietnam. Additionally, one of the essential elements driving the growth of this market is increasing collaboration with countries such as South Korea, Germany, Italy, etc. 90% demand for medical devices in Vietnam is fulfilled through imports, and 10% of the supply through local markets. These reasons are expected to have a positive result on the market growth.

Furthermore, the large population of Vietnam, medical tourism, the government targeting expansion of health insurance coverage, and new public healthcare facilities are also responsible for the growth of the medical devices market in India.

The Rise in Aging Population

In Vietnam, the number of people who are getting older is rising while the birth rate is falling, which hastens the ageing process. In Asia Pacific, Vietnam has one of the fastest ageing populations. Because persons over 60 aged are more likely to contract diseases, the industry will be impacted by an ageing population. Medical gadgets are needed by doctors for disease diagnosis and treatment.

Increase in Medical Tourism

Vietnam holds great opportunities in medical tourism development. Vietnam’s political stability, affordability of healthcare, and relatively high quality of medicines are driving the growth of medical tourism in Vietnam, and this will boost the growth of the market. As medical tourism is increasing, the number of professionals and hospitals is also increasing, and this will increase the demand for medical devices for diagnosis and treatment.

The Rise in Chronic Diseases

The elderly population is increasing as well as the prevalence of the chronic disease. This has increased the number of deaths. To prevent this, the government of Vietnam is opening more hospitals that require medical devices to diagnose severe diseases.

Market Segmentation

The Vietnam medical devices market is segmented based on type, end user, region, and company. Based on type, the market can be fragmented into Cardiovascular Devices, Diagnostic Imaging Equipment, In-vitro Diagnostic Devices, Ophthalmic Devices, Diabetes Care Devices, Dental Care Devices, Surgical Equipment, Orthopedic Devices, Nephrology & Urology Devices, ENT Devices, Anesthesia & Respiratory Devices, Neurology Devices, Mobility-Aid Devices, Others. Based on end user, the market is split into Hospitals & Clinics, Diagnostic Centers, Others.

Company Profiles

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 are among the major market players in Vietnam that lead the market growth of the Vietnam medical devices market.

Report Scope:

In this report, Vietnam medical devices market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Vietnam Medical Devices Market, By Type:

• In-vitro Diagnostic Devices
• Diagnostic Imaging Equipment
• Cardiovascular Devices
• Diabetes Care Devices
• Surgical Equipment
• Dental Care Devices
• Opthalmic Devices
• Patient Monitoring Devices
• Orthopedic Devices
• Nephrology & Urology Devices
• ENT Devices
• Anesthesia & Respiratory Devices
• Neurology Devices
• Mobility-Aid Devices
• Others

Vietnam Medical Devices Market, By End User:

• Hospitals & Clinics
• Diagnostic Centers
• Others

Vietnam Medical Devices Market, By Region:

• Southern
• Central
• Northern

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Vietnam medical devices market.

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