Vietnam Diagnostic Labs Market Introduction and Overview
According to SPER Market Research, the Vietnam Diagnostic Labs Market is estimated to reach USD 2647.8 million by 2033 with a CAGR of 7.14%.
The report includes an in-depth analysis of the Vietnam Diagnostic Labs Market, including market size and trends, product mix, applications, and supplier analysis. A diagnostic lab is a facility that performs screening or diagnostic tests on blood or other potentially infectious materials. These labs provide five common diagnostic services: hematology, histopathology, microbiology, urinalysis, and blood banking. The diagnostician's main duty is to identify the cause of an ailment.
- FunBrain, a health tech business based in Vietnam, deployed AI models to over 100 hospitals in February 2023 to detect problems and shorten diagnosis times using NVIDIA DGX SuperPOD and NVIDIA Clara.
- Siemens Healthineers and S.I.S Hospital, a pioneering private healthcare hospital in Vietnam, will cooperate in December 2023 to introduce NAEOTOM Alpha, the world's first FDA-approved Photon-Counting CT Scanner, to the Vietnamese healthcare landscape. The advent of this technology represents a significant advancement in diagnostic imaging since it improves diagnostic precision and provides extensive power to make better clinical judgments.
Market Opportunities and Challenges
Opportunities-
Disease Prevalence Is Rising
Vietnam has two burdens of sickness, just like many other developing nations. On the one hand, infectious diseases like HIV/AIDS, TB, and dengue fever continue to plague it. These illnesses provide a serious health risk and need ongoing care and funding to adequately address. However, there is a concerning increase in non-communicable diseases like diabetes, cancer, and heart disease in Vietnam. Lifestyle changes, urbanization, aging populations, and greater exposure to risk factors like tobacco use, poor diets, and physical inactivity are some of the reasons contributing to the rising prevalence of these diseases. Due to the tremendous strain these health issues have placed on Vietnam's healthcare system, sophisticated diagnostic facilities must be developed and put into place for early identification.
Challenges- To guarantee the highest standards in healthcare delivery, Vietnam has made substantial reforms to its healthcare regulatory framework in recent years. The government has put in place a number of strict rules designed to raise the standard of healthcare services, improve patient safety, and promote industry openness. These rules address a variety of healthcare topics, such as patient data management, diagnostic techniques, and medical devices. The rules for the nation's medical device manufacturing, importation, and use are laid out in this extensive order. Additionally, it delineates the functions and obligations of medical device management agencies and organizations, guaranteeing rigorous adherence to quality standards.
Market Competitive Landscape
The Vietnam diagnostic labs market is dominated by Lab Group International Vietnam Co. Ltd, Medic Medical Diagnostic Center, Medical Laboratory and Technology Co. Ltd, Chemedic Test Center, HI-Medic Laboratory Co., Ltd, Vietnam Lab Testing Center (Labo TH Việt Nam), Hoan My Medical Corporation, Vietlife Medicine Joint Stock Company, Plus Diagnostics (d+), and Medlab Vietnam, among others. These organizations use a variety of techniques to increase their market share, including mergers and acquisitions, partnerships, joint ventures, licensing agreements, and new product releases.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Provider Type, By Test Type, By End User.
|
| Regions covered | North Vietnam, South Vietnam, East Vietnam, West Vietnam.
|
| Companies Covered | Medical Laboratory and Technology Co. Ltd, Medic Medical Diagnostic Center, Lab Group International Vietnam Co. Ltd, HI-Medic Laboratory Co., Ltd, Chemedic Test Center, Vietnam Lab Testing Center, Vietlife Medicine Joint Stock Company, Hoan My Medical Corporation, Plus Diagnostics (d+), Medlab Vietnam. |
COVID-19 Impact on Vietnam Diagnostic Labs Market
There were certain negative effects of COVID-19 on the expansion of the Vietnamese diagnostic labs market. On the one hand, the market's extraordinary growth was caused by an increase in COVID-19 infection tests. In order to fulfill the increasing demand for diagnostic laboratories across the nation, a number of diagnostic clinics started offering home sample collecting services. However, fewer people visited hospitals as the risks of COVID-19 contamination increased, which hampered the market's growth by significantly lowering the number of diagnostic tests and treatments accessible for various ailments. Nonetheless, the Vietnamese government increased healthcare spending following the COVID-19 pandemic, which is likely to drive the market for diagnostic labs.
By Provider Type Insights
The Vietnam diagnostic labs market is divided into hospital-based and freestanding segments depending on the type of provider. The market share of the hospital-based segment is larger. Hospital-based laboratories have a competitive edge since they do more tests than other kinds of laboratories. The availability of various government regulations and insurance policies also has a significant impact on the level of competition between independent and hospital-based labs. However, because they conduct a number of pathological tests at a lower cost, the standalone sector is also anticipated to rise at a greater CAGR over the course of the projection period.
Key Target Audience:
- Public and Private Hospitals
- Specialty Clinics
- Primary Healthcare Centers
- Physicians and Specialists
- Pathologists and Radiologists
- Medical Technologists and Lab Staff
- Patients with Chronic Conditions
- Elderly Population
- Corporate Wellness Programs
- Occupational Health Providers
- Health Insurance Companies
- Public Health Programs
- Regulatory Bodies
- Research Organizations
- Academic Institutions
Our in-depth analysis of the Vietnam Diagnostic Labs Market includes the following segments:
| By Provider Type: | Hospital-BasedStand Alone |
| By Test Type: | RadiologyPathology |
| By End User: | ReferralsWalk-insCorporate Clients |
Key Topics Covered in the Report:
- Vietnam Diagnostic Labs Market Size (FY’2024-FY’2033)
- Overview of Vietnam Diagnostic Labs Market
- Segmentation of Vietnam Diagnostic Labs Market By Provider Type (Hospital-based, Stand Alone)
- Segmentation of Vietnam Diagnostic Labs Market By Test Type (Radiology, Pathology)
- Segmentation of Vietnam Diagnostic Labs Market By End User (Referrals, Walk-ins, Corporate Clients)
- Statistical Snap of Vietnam Diagnostic Labs Market
- Expansion Analysis of Vietnam Diagnostic Labs Market
- Problems and Obstacles in Vietnam Diagnostic Labs Market
- Competitive Landscape in the Vietnam Diagnostic Labs Market
- Impact of COVID-19 and Demonetization on Vietnam Diagnostic Labs Market
- Details on Current Investment in Vietnam Diagnostic Labs Market
- Competitive Analysis of Vietnam Diagnostic Labs Market
- Prominent Players in the Vietnam Diagnostic Labs Market
- SWOT Analysis of Vietnam Diagnostic Labs Market
- Vietnam Diagnostic Labs Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPERs internal database
2.1.4. Premium insight from KOLs
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Vietnam Diagnostic Labs Market.
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTERs Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Vietnam Diagnostic Labs Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Vietnam Diagnostic Labs Market
7. Vietnam Diagnostic Labs Market, By Provider Type (USD Million) 2020-2033
7.1. Vietnam Diagnostic Labs Market Size, Share and Forecast, By Provider Type, 2020-2026
7.2. Vietnam Diagnostic Labs Market Size, Share and Forecast, By Provider Type, 2027-2033
7.3. Hospital-Based
7.4. Stand Alone
8. Vietnam Diagnostic Labs Market, By Test Type (USD Million) 2020-2033
8.1. Vietnam Diagnostic Labs Market Size, Share and Forecast, By Test Type, 2020-2026
8.2. Vietnam Diagnostic Labs Market Size, Share and Forecast, By Test Type, 2027-2033
8.3. Radiology
8.4. Pathology
9. Vietnam Diagnostic Labs Market, By End User (USD Million) 2020-2033
9.1. Vietnam Diagnostic Labs Market Size, Share and Forecast, By End User, 2020-2026
9.2. Vietnam Diagnostic Labs Market Size, Share and Forecast, By End User, 2027-2033
9.3. Referrals
9.4. Walk-ins
9.5. Corporate Clients
10. Vietnam Diagnostic Labs Market Forecast, 2020-2033 (USD Million)
10.1. Vietnam Diagnostic Labs Market Size and Market Share
11. Vietnam Diagnostic Labs Market, By Region, 2020-2033 (USD Million)
11.1. Vietnam Diagnostic Labs Market Size and Market Share By Region (2020-2026)
11.2. Vietnam Diagnostic Labs Market Size and Market Share By Region (2027-2033)
11.3. North Vietnam
11.4. South Vietnam
11.5. East Vietnam
11.6. West Vietnam
12. Company Profile
12.1. Medical Laboratory and Technology Co. Ltd
12.1.1. Company details
12.1.2. Financial outlook
12.1.3. Product summary
12.1.4. Recent developments
12.2. Medic Medical Diagnostic Center
12.2.1. Company details
12.2.2. Financial outlook
12.2.3. Product summary
12.2.4. Recent developments
12.3. Lab Group International Vietnam Co. Ltd
12.3.1. Company details
12.3.2. Financial outlook
12.3.3. Product summary
12.3.4. Recent developments
12.4. HI-Medic Laboratory Co., Ltd
12.4.1. Company details
12.4.2. Financial outlook
12.4.3. Product summary
12.4.4. Recent developments
12.5. Chemedic Test Center
12.5.1. Company details
12.5.2. Financial outlook
12.5.3. Product summary
12.5.4. Recent developments
12.6. Vietnam Lab Testing Center
12.6.1. Company details
12.6.2. Financial outlook
12.6.3. Product summary
12.6.4. Recent developments
12.7. Vietlife Medicine Joint Stock Company
12.7.1. Company details
12.7.2. Financial outlook
12.7.3. Product summary
12.7.4. Recent developments
12.8. Hoan My Medical Corporation
12.8.1. Company details
12.8.2. Financial outlook
12.8.3. Product summary
12.8.4. Recent developments
12.9. Plus Diagnostics (d+)
12.9.1. Company details
12.9.2. Financial outlook
12.9.3. Product summary
12.9.4. Recent developments
12.10. Medlab Vietnam
12.10.1. Company details
12.10.2. Financial outlook
12.10.3. Product summary
12.10.4. Recent developments
12.11. Others
13 Conclusion
14 List of Abbreviations
15 Reference Links