Vietnam Healthcare Market by Industry Type
(Hospitals & Clinics, Diagnostic Labs, Pharmaceutical and Medical
Devices)-Outlook to 2022” provides a comprehensive analysis of the healthcare
market in Vietnam. The report covers Vietnam
Healthcare Market size, market segmentation by hospitals &
clinics, diagnostic labs, pharmaceutical and medical devices. The report also
covers market in different aspects such as healthcare scenario in Vietnam,
government and private spending on healthcare, cross comparison of healthcare
sector of Vietnam with other Asia Pacific countries, mergers, acquisitions and
funding in healthcare sector, investment model for setting up a hospital,
snapshots of daycare centers and polyclinics, investment model for setting up a
diagnostic laboratory, government regulations for launching a new drug, role of
IT companies in Vietnam healthcare sector and comparative analysis of major
players in each section. The report provides detailed overview on future
outlook & projections with analyst recommendations for the industry.
Market
Potential
The healthcare sector in Vietnam has witnessed
unprecedented growth in recent years. The country’s basic health indicators
have improved and are better than other countries in the region with similar or
higher per capita income. The overall healthcare market has increased from USD
~ billion in 2012 to USD ~ billion in 2017 and witnessed a growth rate of ~%
during the period 2012-2017. However with the overall growth and development in
the country it has been difficult to sustain the progress made in the
healthcare sector due some existing and new challenges. It is still difficult
for a significant percentage of the population to access proper healthcare
facilities. Major health issues in Vietnam arise from dietary problems. There
has been a significant rise in cerebrovascular diseases, heart diseases, lung
and liver cancer, tuberculosis, HIV/AIDS, diabetes, respiratory diseases and
road accidents. There is a huge gap in health status of different regions in
the country. The country has been developing its healthcare infrastructure
including hospitals, diagnostic labs, clinics and the pharmaceutical sector. In
addition to all these factors, fast rising and ageing population in the country
further adds to the advantages for Vietnam healthcare market.
Medical
Devices Market
The medical devices industry is largely import
driven in Vietnam. The medical devices market in Vietnam witnessed a moderate
growth rate. The medical devices market contributed a share of around ~% (USD ~
billion) of the total healthcare market in Vietnam in 2017. The CAGR for the
medical devices market during 2012-2017 was ~%.The overall healthcare market of
the country is witnessing substantial growth, however the medical devices
market in the country has lagged behind. Most of the hospitals, clinics and
diagnostic labs are government owned. The government has invested heavily for
the up gradation of the healthcare system in the country but the medical
devices at most of the hospitals are old. With the decentralization of the
healthcare sector, more hospitals are coming up and the existing ones are being
upgraded. There is a huge opportunity in front of medical device companies to capitalize
and expand into the Vietnamese market. The market has been majorly dominated by
diagnostic imaging products, contributing ~% (USD ~ million) while consumable
equipment contributed around ~% (USD ~ million) to the overall medical devices
market. The large percentage of the medical devices was also contributed by
orthopedic appliances & implants.
Pharmaceuticals
Market
Vietnam has one of the fastest growing
pharmaceutical markets in Asia. One of the main reasons for this is the
significantly high population of the country which is entering the ageing stage
at a very fast pace. With the growth of the economy the average income of the
middle class has also increased and so has the demand for pharmaceutical
products. The overall size of the pharmaceutical market has increased with a
CAGR of ~% from USD ~ billion in 2012 to USD ~% in 2017. The government through
its policies has tried to address the increasing demand of pharmaceutical
products in the country, however there is a huge room for growth. Similar to
the medical device market, the pharmaceutical market in Vietnam is also highly
dependent on imports. Around ~% of the total pharma products consumed in the
country are imported. Increasing rate and prevalence of lung and liver cancer,
TB, HIV, respiratory, cerebrovascular and heart diseases among the growing
population of the country has created high demand for generic and patented
drugs. The pharmaceutical companies in the country mainly manufacture generic
drugs by importing raw material from other countries. In context of therapeutic
drugs, majority of the demand is to treat diabetes, respiratory and
cardiovascular diseases. However to develop the domestic pharmaceutical sector
the government has initiated efforts to streamline the Foreign Direct Investment
(FDI) into the industry. Foreign companies cannot directly enter the Vietnamese
market; instead they need to partner with an indigenous company to distribute
their products. The biggest pharmaceutical firms in the country are Hau Giang
Pharmacy, Traphaco, Domesco, IMEXPHARM, and OPC.
Hospitals
Market
Vietnam is in the phase of experiencing a
structural change in hospital industry. Currently the country is dominated by
the presence of government run hospitals and commune health stations. There are
around ~ hospitals and ~ commune health clinics in the country out of which ~%
are run by the government. However, in 2014 the government announced the plan
to deregulate the hospital in order to support the already overburdened public
hospitals in the country. Since liberalization a number of private hospital
have already come up in the country and more are in the process. Many foreign
investors and firms already have or are in the process of acquiring stocks in
the hospitals. The number of inpatients and outpatients has increased at a CAGR
of ~% and ~% respectively during 2012-2017. The overall revenue of the hospital
market in Vietnam has increased with a CAGR of ~% from USD ~ billion in 2012 to
USD ~ in 2017. The government has also eased the regulation for the employment
of foreign doctors and medical staff in the country. A large percentage of
hospitals, clinics and medical staff is concentrated in urban area and cities.
This presents an opportunity for private investors and companies to expand
their health services into the rural areas of the country.
Diagnostic
Laboratories Market
Owing to government policies, the healthcare
sector in the country is gradually getting decentralized. With this
decentralization the number of hospitals & clinics is increasing and so is
the overall standard of healthcare services. To cater to this demand there is a
vital requirement for affective and faster diagnostic laboratories. The overall
market for diagnostic laboratories has increased from USD ~ million in 2012 to
USD ~ million in 2017 with a CAGR of ~% during this period. The market is
dominated by public hospital labs which contribute around ~% (USD ~ million) to
the overall diagnostic laboratories market. The rise in average income of the
middle class in Vietnam coupled with increasing prevalence of chronic diseases
is a major factor which has led to the growth of diagnostic laboratories. These
laboratories are actively engaged in providing imaging and pathology tests.
Pathology tests contributed approximately ~% of the total revenue, while
imaging tests contributed around ~% in 2017.
Key Topics
Covered in the Report:
Vietnam Healthcare Market Size
Single Specialty and Multispecialty Hospitals
in Vietnam
Private Hospital Revenue Vietnam
Market share of Major Hospitals in Vietnam
Diagnostics Laboratories in Vietnam
Revenue of Laboratories by Type of Test in
Vietnam
Vietnam Medical Devices Market Size
Vietnam Orthopedic Appliances Market Demand
Dental Devices Revenue Vietnam
Medical and Electro-diagnostics Apparatus Market
Vietnam
General Medical Instruments Consumption in
Vietnam
Medical Consumables Market in Vietnam
Vietnam Ophthalmic Instruments Market
Consumption
Vietnam Respiratory Devices Market
Vietnam Imaging Devices Market Outlook
Market Share of Major Players in Vietnam
Medical Devices Market
Vietnam Pharmaceuticals Market Size
Vietnam Pharmaceuticals Market Segmentation
Market Share of Major Payers in Pharmaceutical
Market
Vietnam Clinic and Health Center Market Size
Comparative Analysis of Major Diagnostic Labs
in Vietnam
For more
information on the research report, refer to below link:
Related
Reports by Ken Research
Contact:
Ken Research
Ankur Gupta, Head Marketing &
Communications
+91-124-4230204
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