Vietnam Medical Device Market Growth and Share, Rising Trends, CAGR Status, Revenue, Challenges, Future Opportunities and Forecast 2033: SPER Market Research
Any device that has been prescribed by a medical professional for use alone or in conjunction with other devices for medical treatments, such as the treatment of respiratory diseases, the treatment of lung diseases, the treatment of heart conditions, etc., is referred to as a medical device. Depending on the medical needs of the patients or professional advice, medical gadgets are employed in a variety of medical operations. Due to its low danger, class I medical devices are divided into three categories.
According to SPER market research, ‘Vietnam Medical Device Market Size- By Device Type, By End User – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Vietnam Medical Device Market is predicted to reach USD 4.22 billion by 2033 with a CAGR of 8.11%.
The medical device industry in Vietnam’s healthcare sector is one of the most technologically advanced. In order to aid in the early detection of ailments and hasten the pace of diagnosis and recovery timeframes, healthcare practitioners in Vietnam are concentrating on integrating cutting-edge technology medical devices. As healthcare resources in both public and private institutions improve, there will likely be an increase in the demand for medical equipment. These characteristics offer a wealth of fresh opportunities for Vietnamese medical device industry players.
Nevertheless, a lot of hospitals are out-of-date and regularly congested. Hospitals in big cities like Ho Chi Minh City and Hanoi frequently lack the funding necessary to provide care for both regional and local patients. Additionally, the majority of the medical equipment in Vietnam’s public hospitals needs to be replaced because it is outdated. There may be a lack of surgical and intensive care equipment in many hospitals. Furthermore, there is a shortage of trained medical personnel in many institutions. Medical professionals such as nurses and doctors put in long hours for meager pay. Throughout the forecast period, these challenges are anticipated to impede the expansion of the Vietnamese medical device market.
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Almost all areas of the global economy have been impacted by the COVID-19 epidemic. The medical device industry is not exempt from the consequences. The COVID-19 pandemic has increased demand for medical equipment, changing the forecast for the pharmaceutical business in 2021 from negative to positive. The largest pharmaceutical company in the nation, DHG Pharmaceutical Joint Stock Company, made a ton of money during COVID-19. Other notable companies saw an increase in profits when compared to the same time last year. While the pandemic undoubtedly benefited the medical device industry for a brief period of time, businesses may want to think about diversifying and sourcing raw materials from countries other than China and India in the event that a similar pandemic occurs again.
Furthermore, There is an increasing need for medical equipment in the northern region of Vietnam, which includes the capital city of Hanoi and the surrounding provinces. This is because there are more healthcare facilities in this area and a growing middle-class population. To address the demands of the populace, public hospitals, private clinics, and other healthcare facilities in this region are increasingly implementing advanced medical technology. A major location for medical device suppliers, the government’s dedication to enhancing healthcare services is fueling growth. Additionally, some of the market key players are Stryker Corporation Vietnam, USM Healthcare Medical Devices Factory Omron Healthcare Vietnam, B. Braun Vietnam Co., Japan Vietnam Medical Instrument JSC, Armephaco Joint Stock, Hoya Lens Vietnam Ltd.
Vietnam Medical Device Market Key Segments Covered
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2033. This report contains statistics on product type segment growth estimates and forecasts.
By Device Type: Based on the Device Type, Vietnam Medical Device Market is segmented as; Respiratory Devices, Cardiology Devices, Orthopedic Devices, Diagnostic Imaging Devices, Endoscopy Devices, Ophthalmology Devices.
By End Users: Based on the End Users, Vietnam Medical Device Market is segmented as; Hospitals, Clinics, Homecare Settings.
By Region: This research also includes data for Eastern Region, Western Region, Southern Region, Northern Region.
For More Information, refer to below link:-
Vietnam Medical Device Market Outlook
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