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Vietnam Healthcare Market on the Basis of Revenue is expected to Reach USD 18 Billion by 2022: Ken Research

01-24-2020 11:01 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Ken Research

Vietnam Healthcare Market on the Basis of Revenue is expected

o The total number of public and private hospitals is likely to exceed 1,890 by 2022 as compared to over 1,530 in 2017 as investments in establishing healthcare facilities continues to witness an upward trend.
o Rising need for screening of infectious diseases and establishment of hospitals and clinics and up gradation of existing lab services to foster clinical laboratory market. Emphasis on providing quality healthcare services in rural areas and clinical test outsourcing to independent labs provides lucrative opportunities.
o The pharmaceutical market is anticipated to witness rise in demand for oncology and anti-infective drugs. Health supplements are expected to remain as the fastest growing therapeutic drug segment in the near future.
o Growing investment in public and private health care sector will driven the market for medical devices, with ophthalmic equipments, anesthesia instruments, dialysis equipments, endoscope equipments and medical furniture to register heightened demand.

Vietnam healthcare market has shown healthy growth during 2012-2017 at a CAGR of 10.8% driven by rise in healthcare expenditure and incline in Universal Health Coverage (UHC) in the country. The UHC brought over 81.7% of the Vietnamese population under Health Insurance by 2017. Furthermore, rise in number of health care facilities and consumption of generic drugs aided in market growth during the last five years.

Vietnam Hospital market recorded growth at a CAGR of 7.8% during 2012-2017, driven by government's investment in private health care sector and liberal foreign investment policies. Private clinics are known to be operating at only 50 to 60% of their capacity, or even as low as 20% in certain areas in Vietnam as compared to almost 120-160% bed occupancy rate in public hospitals. Major private hospitals in Vietnam included Vietnam France general Hospital, Hoan My Private General Hospital, Phu Tho Private General Hospital, Trien An Private General Hospital and Hong Ngoc Private General Hospital.

Clinical laboratories market was driven by rise in incidence and prevalence of communicable and non-communicable disease in the country. The market witnessed a decline in growth during 2016 due to low hospital budget allocated towards laboratories and slow economic growth of the country; however, bounced back in 2017. During the period 2012-2017, clinical laboratory market grew at a CAGR of 12.2%. Public hospital labs are the largest segment in terms of volume of tests conducted as well as revenue. They are preferred due to high quality standards and cheaper associated cost. Medic Lab, VietLife and Hoan My were some of the largest independent clinic chains to be operating in Vietnam.

The pharmaceutical market recorded growth at a CAGR of 14.4% during 2012-2017, driven by rise in self-medicating culture and OTC drug sales. About 90% of the active pharmaceutical ingredients (APIs) are imported by domestic companies. The country is increasingly turning towards use of locally produced generics. Sanofi, Hua Giang Pharmaceutical, GlaxoSmithKline, Traphaco, AstraZeneca, Pyempharco Novatis are some of the leading players in Vietnam Pharmaceutical Market. Number of domestic drug manufacturers is expected to rise to 230 by 2022. Nutritional and metabolism health supplements especially for skin care, anti-aging, eye health and digestive health was the largest selling therapeutic drug segment. The number of health supplement products recorded in the market was over 7,000, doubling from 2011. Foreign players are more active in non-herbal segment whereas domestic companies are better positioned in herbal supplement segment.

About 90% of all medical devices sold in Vietnam were imported. Local producers are limited in number and have only been able to supply basic medical supplies such as consumables, hospital beds and rubber health products. The medical devices market recorded growth at a CAGR of 7.8% during the period 2012-2017 driven by liberal imports and surge in Orthopedic and Prosthetic medical equipments. Public hospitals, clinics and health centers were the largest purchasers of medical equipments and preferred advanced medical devices.

According to the report by Ken Research titled "Vietnam Healthcare Market Outlook to 2022 - by Hospitals & Clinics, Clinical Laboratories, Pharmaceutical and Medical Device Segment", rising public and private expenditure on healthcare facilities and increased emphasis on domestic production of generic drugs and medical devices will the overall market.

For more information on the research report, refer to below link:
https://www.kenresearch.com/healthcare/general-healthcare/vietnam-healthcare-market-report/142714-91.html

Key Topics Covered in the Report:
o Vietnam Healthcare Market Size by Hospitals & Clinics, Clinical Laboratories, Pharmaceutical and Medical Device
o Vietnam Hospital Market Size
o Market Segmentation
o By Single and Multispecialty Hospitals
o By Public and Private Hospitals
o By Region
o By Outpatients and Inpatients
o Comparative Analysis of Major Hospitals in Vietnam
o Hoan My Group
o Phu Tho General Hospital
o Franco-Vietnamese Hospital
o Hanoi French Hospital
o Trien An Private General Hospital
o Hong Ngoc Private General Hospital

o Vietnam Hospitals Future Outlook and Projections by Revenue
o Vietnam Clinical Laboratory Market Size
o Vietnam Clinical Laboratory Market Segmentation
o By Type of Laboratory (Independent Clinical Lab, Hospital Labs and Physician Office Labs)
? By Public and Private Hospital Labs
o By Type of Tests (Lab test, X-ray, Ultrasound, CT Scan)
o Investment Model for Setting up a Diagnostic Laboratory
o Comparative Analysis of Major Independent Diagnostics Labs in Vietnam
o Medic Lab
o VietLife
o Hoan My
o Vietnam Clinical Laboratory Market Future Outlook and Projections
o By Type of Laboratory (Independent Clinical Lab, Hospital Labs and Physician Office Labs)
o Vietnam Pharmaceutical Market Size
o Vietnam Pharmaceutical Market Segmentation
o By Therapeutic Segments (Metabolism and Nutritional Medicine, Cardiovascular, CNS, System Infection, Oncology, Respiratory, Musculoskeletal and Others)
o By Generic and Patented Drug
o By OTC and Prescription Drugs
o Comparative Analysis of Major Players in Vietnam Pharmaceutical Market
o DHG Pharma
o Traphaco
o Pymepharco
o Ha Tay Pharmaceutical
o Mekophar
o Domesco
o Imexpharm
o OPC Pharmaceuticals
o Vietnam Pharmaceutical Market - Trade Scenario
o Vietnam Pharmaceutical Market Future Outlook and Projections
o By Therapeutic Segments (Metabolism and Nutritional Medicine, Cardiovascular, CNS, System Infection, Oncology, Respiratory, Musculoskeletal and Others)
o By Generic and Patent Drugs
o By OTC and Prescription Drugs
o Vietnam Medical Devices Market Size
o Vietnam Medical Devices Market Segmentation
o By Application (Orthopedic and Prosthetic Applications, Diagnostic Imaging Equipment, Paraclinical Equipment, Emergency Medical Equipment, Operation Room Equipment and Others)
o By Material (Textile Products, Electronic Products, Plastic Products, Rubber Products and Others)
o By Equipments (Consumables, Diagnostic Imaging, Dental Products, Orthopedic and prosthetics, Patient Aids and Others)
o By End User (Public hospitals, Local Private hospitals, Foreign Owned Hospitals and Medical Education, Research Institution and Others)
o Comparative Analysis of Major Players in Vietnam Medical Devices Market
o Major Domestic Companies
? Japan Vietnam Medical
? Danameco
? Armephaco
o Major Domestic Companies
? GE Healthcare, Vietnam
? Terumo BCT
? Philips, Vietnam
o Vietnam Medical Devices Market Future Outlook and Projections
o By Equipments (Consumables, Diagnostic Imaging, Dental Products, Orthopedic and prosthetics, Patient Aids and Others)
o Vietnam Healthcare Market Future Outlook and Projections

Related Reports by Ken Research:
https://www.kenresearch.com/healthcare/diagnostics/vietnam-diagnostic-lab-market/143767-91.html

https://www.kenresearch.ae/healthcare/pharmaceuticals/vietnam-pharmaceutical-market/143605-91.html

https://www.kenresearch.com/healthcare/medical-devices/vietnam-medical-devices-market/143604-91.html

Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249

Ken Research is a Global aggregator and publisher of Market intelligence, equity and economy reports. We provides business intelligence and operational advisory in 300+ verticals underscoring disruptive technologies, emerging business models with precedent analysis and success case studies.

Ken Research Pvt. Ltd.,
Unit 14, Tower B3, Spaze I Tech Business Park, Sohna Road, sector 49 Gurgaon, Haryana - 122001, India

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