Press Release

Vietnam Medical Devices Market to Grow Due to Technological Advancement until 2026

Surge in demand for technically advanced medical device is driving the growth of Vietnam Medical devices Market, in the forecast period, 2022-2026.

According to TechSci report on, “Vietnam Medical Devices Market By Type (Cardiovascular Devices, Diagnostic Imaging Equipment, In-vitro Diagnostic Devices, Ophthalmic Devices, Patient Monitoring 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) By End User (Hospitals & Clinics, Diagnostic Centers, Others) By Region, Competition Forecast & Opportunities, 2026”, Vietnam medical devices market has shown promising growth in historical years until 2019 and is expected to continue its growth in upcoming forecast years 2021 to 2026. Vietnam medical devices market owes its growth to the factors like rapidly increasing demands for the advanced medical devices for the development of the healthcare facilities in the country. Moreover, the consistent research and development of the medical devices by rapidly increasing number of market players is also driving the growth of the market in the next five years. Also, rising disposable income among the population and commercial sectors is influencing the growth of the Vietnam medical devices market in the forecast period, until 2026.


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The Vietnam medical devices market is segmented by type, end user, regional distribution, and competitional landscape. Based on type, segment is further differentiated into cardiovascular devices, diagnostic imaging equipment, in-vitro diagnostic devices, ophthalmic devices, diabetes care devices, dental care devices, surgical equipment, orthopedic devices, patient monitoring devices, nephrology & urology devices, ENT devices, aesthesia & respiratory devices, neurology devices, mobility-aid devices, and others. Cardiovascular devices are anticipated to hold the largest revenue shares of the market and asset its dominance over the market segment on the account of rapidly increasing instances of cardiovascular diseases. The surge in the demand for the diagnostic devices for the early and efficient procedures for diagnosis such that the early diagnosis can be achieved is further driving the growth of the Vietnam medical devices market in the next five years.


Based on end user, the market is further bifurcated into hospitals & clinics, diagnostic centers, and others. Hospitals & clinics are anticipated to hold the largest revenue shares of the market and dominate the market segment on the account of rapidly increasing number of hospitals & clinics. Surging demand from the patients and need of effective and efficient diagnosis in the hospitals is further substantiating the growth of the Vietnam medical devices market in the future forecast years, until 2026. Diagnostic centers are also expected to register significant growth rate in the upcoming five years on the account of surging demand for the outsourced diagnostic procedures. Moreover, surge in the demand of efficient and effective diagnostic procedure, along with the demand for early diagnosis for the diseases is driving the growth of the Vietnam medical devices market in the next five years.


A partial list of market player in the Vietnam medical devices market includes 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, among others. These market players hold larger shares of the market than the new market players. With the evolving technology, it is appropriate to say that the effective research and development of the technologically advanced medical devices and methods to satisfy consumer demands would support the market growth and benefit the market players as well as the consumers. New market players may focus on the research and development to provide medical devices and services that satisfies the consumer demand as well as benefits the market players in building their brand value. Advancement of the existent technology is a potential growth factor that would aid the market players in their brand establishment. Other competitive strategies include mergers & acquisitions and new product developments.


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“COVID-19 pandemic affected the healthcare industry worldwide; Vietnam suffered the numerous deaths including exponentially increasing number of patients and that influenced the healthcare industry. Surge in the demands for the technically advanced medical devices for the early diagnosis and efficient treatment drives the future growth of the Vietnam medical devices market. New market players are advised to invest and focus on the extended research and medical device development that is technically advanced as well as provides ease of usability among the medical practitioners, consumers, and doctors & surgeons. Collaborations with the hospitals, diagnostic labs, and other healthcare centers would aid their brand establishments,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm. Vietnam Medical Devices Market By Type (Cardiovascular Devices, Diagnostic Imaging Equipment, In-vitro Diagnostic Devices, Ophthalmic Devices, Patient Monitoring 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) By End User (Hospitals & Clinics, Diagnostic Centers, Others) By Region, Competition Forecast & Opportunities, 2026 has evaluated the future growth potential of Vietnam medical devices market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge 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 medical devices market.


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