Vietnam Medical Devices Market Share, Size and Future Projections 2024-2030FY

Vietnam Medical Devices Market Overview and Insights:

Vietnam Medical Devices Market research is an ongoing process. Consistent monitoring and evaluating of market dynamics to stay informed and adapt your strategies accordingly. As a market research and consulting firm, we offer market research reports that focus on major parameters including Target Market Identification, Customer Needs and Preferences, Thorough Competitor Analysis, Market Size & Market Analysis, and other major factors. At the end, we do provide meaningful insights and actionable recommendations that inform decision-making and strategy development.

What is the Future Market Size of the Vietnam Medical Devices Industry and its Yearly Growth Rate?

The Vietnam Medical Devices Market is estimated to grow at a CAGR of around 9% during the forecast period, i.e., 2024-30. The market growth has been credited to the rising geriatric population, as with increasing age the risk for multiple diseases, including cancer, orthopedic, cardiovascular, neurological, and others increases enormously. Hence, owing to that the demand for various medical devices such as those required for monitoring chronic conditions, assistive devices for daily living, mobility aids, etc., has increased across the country. For instance, the population of Vietnam, aged around 60 and above is projected to increase to more than 25% by 2050, up from 11.9% in 2019 as stated by the United Nations.

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Who are the Main Competitors Driving the Vietnam Medical Devices Market Forward?

The prominent players essentially operating in the Vietnam Medical Devices Market are as follows:

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

What are the key Drivers Defining the Vietnam Medical Devices Market Size?

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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What is the Segmentation of the Vietnam Medical Devices Market?

The Vietnam Medical Devices market covered in this report is segmented –

By Device Type
- Diagnostic Devices- Market Size & Forecast 2019-2030, USD Million
- Monitoring Devices- Market Size & Forecast 2019-2030, USD Million
- Drug Delivery Devices- Market Size & Forecast 2019-2030, USD Million
- Bio Implants and Stimulation Devices- Market Size & Forecast 2019-2030, USD Million
- Surgical Devices- Market Size & Forecast 2019-2030, USD Million
- Treatment Equipment- Market Size & Forecast 2019-2030, USD Million
- Others (Anaesthesia Devices, Mobility Aid Devices, etc.)- Market Size & Forecast 2019-2030, USD Million

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- Market Size & Forecast 2019-2030, USD Million
- Cardiology- Market Size & Forecast 2019-2030, USD Million
- Respiratory- Market Size & Forecast 2019-2030, USD Million
- General Surgery- Market Size & Forecast 2019-2030, USD Million
- Orthopedics- Market Size & Forecast 2019-2030, USD Million
- Dental- Market Size & Forecast 2019-2030, USD Million
- Nephrology & Urology- Market Size & Forecast 2019-2030, USD Million
- Neurology- Market Size & Forecast 2019-2030, USD Million
- Ophthalmology- Market Size & Forecast 2019-2030, USD Million
- Ear-Nose-Throat (ENT) – Market Size & Forecast 2019-2030, USD Million
- Others (Dermatology, Gynecology, etc.)- Market Size & Forecast 2019-2030, USD Million
By End User
- Hospitals- Market Size & Forecast 2019-2030, USD Million
- Specialty Centers & Clinics- Market Size & Forecast 2019-2030, USD Million
- Diagnostic Centres- Market Size & Forecast 2019-2030, USD Million
- Others (Research Organisations, Homecare, etc.)- Market Size & Forecast 2019-2030, USD Million
By Region
- North
- South
- Central

Key Questions Answered in the Research Report

What is the predicted Vietnam Medical Devices market size and growth rate for the years 2024-30?
What challenges are restricting the growth of the Vietnam Medical Devices market?
Which segment accounted for the largest market share in the Vietnam Medical Devices market?
Which prominent companies are leading growth in the Vietnam Medical Devices market?
In what formats does Markntel Advisors deliver the concerned report descriptions?
How long does it take for customers to receive the reports provided by Markntel Advisors?
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