Press Release

Vietnam In-Vitro Diagnostics Market to Grow with a CAGR of 4.60% through 2029

Increasing incidence of chronic diseases and Rapid advancements in diagnostic technologies is expected to drive the Vietnam In-Vitro Diagnostics Market growth in the forecast period, 2025-2029

 

According to TechSci Research report, “Vietnam In-Vitro Diagnostics Market – By Region, Competition, Forecast & Opportunities, 2029F”, the Vietnam In-Vitro Diagnostics Market stood at USD 336.07 Million in 2023 and is anticipated to grow with a CAGR of 4.60% through 2029. The surge in chronic diseases like diabetes, cardiovascular issues, and cancer within Vietnam has sparked a need for precise and early diagnostic solutions. Particularly, the expanding elderly demographic is more susceptible to these ailments, intensifying the demand for reliable IVD tests.

Government endeavors and healthcare policies are actively enhancing healthcare infrastructure and services. Notable investments in healthcare facilities and initiatives promoting early disease detection significantly fortify the IVD market. The rapid progression of diagnostic technologies, encompassing molecular diagnostics, point-of-care testing, and automated instruments, has transformed the IVD sector. These advancements deliver swifter, more accurate, and cost-effective diagnostic solutions, catering to both urban and rural populations.

Heightened healthcare expenditure, propelled by both government and private sector contributions, drives demand for advanced diagnostic tools and expands the IVD market. Moreover, the burgeoning middle class, boasting higher disposable incomes, further fuels this trend by seeking superior healthcare services. The emergence of private healthcare providers, equipped with cutting-edge diagnostic technologies and offering specialized services, contributes significantly to market growth. These entities attract a substantial patient base seeking high-quality healthcare solutions.

                                                                                             

Browse over XX market data Figures spread through XX Pages and an in-depth TOC on "Vietnam In-Vitro Diagnostics Market

 

The Vietnam In-Vitro Diagnostics Market is segmented into product & service, technique, application, end user, regional distribution, and company.

Based on application, the Infectious Diseases segment has emerged as the predominant market leader, Vietnam grapples with a notable burden of infectious diseases spanning viral, bacterial, and parasitic origins. A range of ailments including hepatitis, dengue fever, tuberculosis, and HIV/AIDS prevail throughout the nation, particularly in densely populated urban zones and rural regions. The prevalence of such infections underscores the imperative for robust diagnostic measures to swiftly identify and manage outbreaks effectively. Infectious diseases in Vietnam present substantive public health concerns, necessitating swift detection and containment strategies to forestall widespread transmission. Accurate and timely diagnosis assumes paramount importance in discerning infected individuals, instigating quarantine measures, and instituting appropriate treatment protocols. Diagnostic tests for infectious diseases play a pivotal role in managing outbreaks, aiding healthcare authorities in tracking pathogen spread and implementing targeted interventions.

Routine screening and surveillance programs for infectious diseases form integral pillars of Vietnam's healthcare apparatus. These initiatives are geared toward identifying asymptomatic carriers, screening high-risk cohorts, and monitoring disease prevalence over time. Diagnostic tests for infectious diseases are standard in antenatal care, blood transfusion screening, sexually transmitted infection (STI) clinics, and various healthcare settings to forestall disease transmission. Infectious disease diagnostics are instrumental in supporting preventive healthcare endeavors by facilitating early detection and treatment initiation. Vaccination programs, notably for diseases like hepatitis B and HPV, hinge on diagnostic tests to gauge individuals' immune status and ascertain vaccination efficacy. Additionally, screening for infectious diseases in travelers, migrants, and healthcare workers aids in averting pathogen importation and propagation within the community.

 

Major companies operating in Vietnam In-vitro Diagnostics Market are:

  • F. Hoffmann-La Roche Ltd
  • Abbott Laboratories GmbH
  • Siemens Vietnam
  • Thermo Fisher Scientific Inc
  • Natera, Inc.
  • Agilent Technologies, Inc
  • BD Vietnam Co. Ltd

 

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“Vietnam In-vitro Diagnostics Market demonstrates immense potential for growth and development, driven by factors such as increasing incidence of chronic and infectious diseases, government initiatives to improve healthcare infrastructure, technological advancements in diagnostic technologies, rising healthcare expenditure, and the emergence of private healthcare providers. With a concerted focus on innovation, collaboration, and regulatory compliance, the market is poised to meet the evolving healthcare needs of the Vietnamese population while contributing to improved patient outcomes and overall public health.,” said Mr. Karan Chechi, Research Director of TechSci Research, a research-based management consulting firm.

Vietnam In-Vitro Diagnostics Market, By Product & Service (Reagents, Instruments, Software & Services), By Technique (Immunodiagnostics, Hematology, Molecular Diagnostics, Tissue Diagnostics, Clinical Chemistry, Others), By Application (Infectious Diseases, Cancer, Cardiac Diseases, Immune System Disorders, Nephrological Diseases, Others), By End User (Hospitals & Clinics, Diagnostic Laboratories, Others), By Region, Competition Forecast & Opportunities, 2019-2029F”, has evaluated the future growth potential of Vietnam In-Vitro Diagnostics 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 In-Vitro Diagnostics Market.

 

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