The Vietnam Medical Devices Market size is estimated to grow at a CAGR of around 9% during the forecast period, i.e., 2024-30.
Key Findings of the Study: Vietnam Medical Devices Market
Vietnam Medical Devices Market Driver: Increasing Occurrence of Chronic Diseases
The occurrence of several preventable chronic diseases, such as diabetes, cardiovascular diseases (CVDs), etc., across Vietnam, has successfully boosted the overall medical devices market in the country. For instance, as mentioned by the International Diabetes Federation (IDF), there were around 3,994,100 people with diabetes in Vietnam in 2021, and the number is expected to increase to 4,961,600 and 6,015,300 by 2030 and 2045, respectively. As a result, the demand for insulin pumps, glucose monitoring devices, and other diabetes care devices has increased in Vietnam.
Additionally, the increasing incidence rates of various types of cancer like breast cancer, prostate cancer, etc., in the country is also anticipated to drive the demand for medical devices in Vietnam. For instance, according to the Global Cancer Observatory, the new cancer incidence rate in Vietnam in 2022 was roughly 180,000 and could reach about 292, 000 in 2045. Consequently, the demand for different medical devices such as Computed Tomography (CT), Magnetic Resonance Imaging (MRI), etc., employed for the diagnosis and treatment of cancer would increase, driving the growth of the Vietnam Medical Devices Market.
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Scope of the Report and Vietnam Medical Devices Market Segmentation
By Device Type
-Diagnostic Devices
-Monitoring Devices
-Drug Delivery Devices
-Bio Implants and Stimulation Devices
-Surgical Devices
-Treatment Equipment
-Others (Anaesthesia Devices, Mobility Aid Devices, etc.)
- The Diagnostic Devices segment of the Vietnam Medical Devices Market is anticipated to grow with a significant market share over the forecast period.
By Therapeutic Application
-Gastrointestinal Surgery
-Cardiology
-Respiratory
-General Surgery
-Orthopedics
-Dental
-Nephrology & Urology
-Neurology
-Ophthalmology
-Ear-Nose-Throat (ENT)
-Others (Dermatology, Gynecology, etc.)
By End User
-Hospitals
-Specialty Centers & Clinics
-Diagnostic Centres
-Others (Research Organisations, Homecare, etc.)
Top leading companies in the Vietnam Medical Devices Market includes:
Terumo Corporation, USM HEALTHCARE, Nihon Kohden Corporation, Medtronic plc, Stryker, Abbott Laboratories, Koninklijke Philips N.V., Boston Scientific Corporation, Becton Dickinson and Company, GE Healthcare, Others
Vietnam Medical Devices Market Development
- 2023: Nihon Kohden Corporation announced that the company will establish a new sub-subsidiary, a wholly owned subsidiary of Nihon Kohden Singapore (NKS), one of Nihon Kohden’s sales subsidiaries, aiming to apply for registration of medical devices smoothly and expand its sales in Vietnam.
For more detailed information about the Vietnam Medical Devices market report, click here – https://www.marknteladvisors.com/research-library/vietnam-medical-devices-market.html
Geographical analysis:
North
South
Central
- North America hold the highest market share in the Global Vietnam Medical Devices Market due to its robust Vietnam Medical Devices culture, as Vietnam Medical Devicess are a customary food item in many households.
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