Vietnam Surgical Instruments Market to grow with a CAGR of 8.74%.
Increasing healthcare infrastructure and a supportive regulatory
environment are the major drivers for the Vietnam Surgical Instruments Market.
According to TechSci Research report, “Vietnam Surgical Instruments Market
Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2018-2028”, Vietnam Surgical Instruments Market
has valued at USD 163.34 million in 2022
and is anticipated to witness an impressive growth in the forecast period with
a CAGR of 8.74% through 2028. This can
be due to collaborations and partnerships among leading companies with a
diverse approach to merge the expertise of individual companies and to
strengthen their position in the market.
The global aging population does play a role in driving the demand for
surgical instruments in the Vietnam Surgical Instruments Market, as it does in
many healthcare systems worldwide. Older individuals tend to have a higher
prevalence of chronic illnesses and age-related conditions that may require
surgical interventions. As the aging population grows, there is a greater
demand for surgical procedures, including orthopedic surgeries, cardiac
surgeries, and procedures related to the management of age-related conditions.
Aging is often associated with musculoskeletal issues such as osteoarthritis
and fractures. Orthopedic surgeries, including joint replacements and fracture
repairs, are more common among the elderly, leading to increased demand for
orthopedic surgical instruments. Cardiovascular diseases become more prevalent
with age. Surgical interventions like coronary artery bypass grafting (CABG)
and heart valve replacements are more frequently required in older patients,
driving the need for cardiovascular surgical instruments. Aging is a risk
factor for conditions like cataracts and glaucoma. Ophthalmic surgeries, such
as cataract extraction, are more common among the elderly, necessitating
specialized ophthalmic surgical instruments.
Browse over XX market data Figures and spread through 110 Pages and an in-depth TOC on "Vietnam Surgical Instruments Market”
The surgeons can offer pre-operation instructions, post-care guidelines,
and a checklist of things that need to be done before the procedure via mobile
apps. By doing this, healthcare practitioners may better utilize their
employees, procedure rooms, and patient care. Similar approaches are assisting
hospitals and ambulatory surgery centers in recovering from the loss they
sustained during the epidemic and generating income at a rate like that before
COVID. This has further aided in the market's ability to thrive.
In September 2018, Ho Chi Minh City welcomed the opening of the 13th
International Exhibition on Products and Supplies for Medical, Pharmaceutical,
Hospital and Rehabilitation (Pharmed and Healthcare Vietnam 2018), presenting
cutting-edge and high-tech medical equipment. Pharmed and Healthcare Vietnam
features 600 booths with a variety of pharmaceutical products, machinery for
making and packaging drugs, equipment for healthcare and rehabilitation,
surgical instruments, and products for beauty care, among other things, on a
10,000 sq. m. total display area.
Environmental concerns are a challenge for the Vietnam
Surgical Instruments Market, as sustainability and eco-friendliness gain
importance in healthcare and across various industries. There is increasing
pressure to develop surgical sutures that are biodegradable and environmentally
friendly. Traditional sutures, especially those made from synthetic materials,
may contribute to medical waste and environmental pollution when not properly
disposed of. Biodegradable sutures break down naturally over time, reducing
their environmental impact. Healthcare
providers and facilities are seeking ways to reduce medical waste, which
includes used sutures. Proper disposal and management of surgical instruments
are essential to minimize their impact on the environment. Environmentally
conscious practices are becoming a part of healthcare protocols. Suture manufacturers are exploring ways to reduce
the energy consumption and environmental impact of their manufacturing
processes. Energy-efficient production methods can contribute to a more
sustainable supply chain.
Vietnam Surgical Instruments Market segmentation
is based on Type, End User, and Region.
Based on Type, Vietnam Surgical Instruments Market is
segmented into Surgical Staplers, Handheld Instruments, Surgical Scopes,
Electrosurgical Devices, Others. Electrosurgical devices are medical
instruments used in surgical procedures to cut, coagulate, desiccate, or ablate
tissues using electrical energy. These devices play a crucial role in modern
surgery, allowing surgeons to perform precise and controlled tissue
manipulation and hemostasis (control of bleeding). Electrosurgical devices are
commonly used in various surgical specialties, including general surgery,
gynecology, urology, orthopedics, and more. Electrosurgical devices offer
precise tissue manipulation and minimal damage to adjacent structures. They are
highly effective for controlling bleeding during surgery. Electrosurgical
devices can be used in a wide range of surgical specialties, from cutting
through soft tissues to coagulating blood vessels. These devices are often used
in minimally invasive procedures, such as laparoscopy, endoscopy, and robotic
surgery. By coagulating blood vessels during surgery, they help reduce
intraoperative bleeding.
Based on Region, Central Vietnam dominated the
Vietnam Surgical Instruments Market. The region has a
relatively high volume of surgical procedures, driven by various factors
including the region's aging population, lifestyle-related health issues, and
advanced medical treatments. This high surgical caseload results in a
substantial demand for surgical sutures. The regional healthcare industry is at
the forefront of technological advancements and medical innovation. This
includes the adoption of advanced surgical techniques and minimally invasive
procedures, all of which require surgical sutures. The majority of Central Vietnam,
have access to health insurance, which facilitates healthcare utilization,
including surgical interventions. This insurance coverage plays a role in the
demand for surgical sutures.
Northern Vietnam region to fastest growth in the Vietnam Surgical
Instruments Market. The region has experienced a significant increase in
surgical volumes due to a growing population, changing demographics, and an
increase in the prevalence of chronic diseases. This has resulted in a higher
demand for surgical sutures across various medical specialties. The economic
growth and rising disposable incomes in several cities have led to increased
access to healthcare services. Patients are more likely to seek surgical
treatments when necessary, contributing to higher surgical procedure rates. Some
cities in the central Vietnam region have become popular destinations for
medical tourism. Patients from other countries travel to this region for
high-quality and cost-effective healthcare services, including surgeries. This
trend further fuels the demand for surgical sutures.
Some of the major companies operating in the Vietnam Surgical Instruments Market include:
- Medtronic Vietnam
- Johnson & Johnson Vietnam
- Fujifilm Vietnam Co, Ltd.
- B.Braun Vietnam Co., Ltd.
- Olympus Vietnam
- Mindray Vietnam
- KARL STORZ SE & Co. KG
- Sun Technology JSC
- Stryker Vietnam
- Smith &
Nephew Vietnam
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“Certain areas, particularly in Central
Vietnam, are projected to exert significant demand for Surgical instruments to
perform surgeries. The growth in the competitive landscape and the presence of
well-established companies in the market, committed to enhance the overall
wellbeing of people each year, are expected to contribute to a remarkable
growth of the Vietnam Surgical Instruments Market in the forecast period,"
said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based Global management consulting firm.
Vietnam Surgical Instruments Market -
Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented by
Type (Surgical Staplers, Handheld Instruments, Surgical Scopes, Electrosurgical
Devices, Others), By End User (Hospitals & Clinics, Ambulatory Care
Centers, Others), and By Region, Competition evaluated the future growth potential of
Vietnam Surgical Instruments Market and provides statistics & information
on market size, structure, and future market growth. The report intends to
provide innovative market intelligence and help decision makers take sound
investment decisions. Besides, the report also identifies and analyzes the
emerging trends along with essential drivers, challenges, and opportunities in Vietnam
Surgical Instruments Market.
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