Vietnam Medical Devices Market Size, Share and Forecast Analysis to 2030

Future of Executive Summary Vietnam Medical Devices Market: Key Dynamics, Size & Share Analysis

Vietnam Medical Devices Market is estimated to grow at a CAGR of around 9% during the forecast period, i.e., 2024-30. The market growth has been credited to the rising geriatric population, as with increasing age the risk for multiple diseases, including cancer, orthopedic, cardiovascular, neurological, and others increases enormously. Hence, owing to that the demand for various medical devices such as those required for monitoring chronic conditions, assistive devices for daily living, mobility aids, etc., has increased across the country. For instance, the population of Vietnam, aged around 60 and above is projected to increase to more than 25% by 2050, up from 11.9% in 2019 as stated by the United Nations.

Top Market Challenges Impacting the Vietnam Medical Devices Market Growth

Affordability Issues Arising from Vietnam’s Heavy Reliance on Imported Medical Devices – Vietnam is heavily reliant on imported medical devices since local production cannot meet demands for required medical devices. This is further evident from the fact that over 90% of medical equipment and supplies were imported to Vietnam in 2023, as the International Trade Administration mentioned. While the import of medical devices provides access to a wide array of advanced and specialized medical devices, it also poses challenges that can hinder the growth and stability of the overall Vietnam Medical Devices Market.

Understanding the Core Segments in the Vietnam Medical Devices Market

Vietnam Medical Devices Market Size, Share & Industry Trends Analysis- By Device Type (Diagnostic Devices, Monitoring Devices, Drug Delivery Devices, Bio Implants and Stimulation Devices, Surgical Devices, Treatment Equipment, Others), By Therapeutic Application (Gastrointestinal Surgery, Cardiology, Respiratory, General Surgery, Orthopedics, Dental, Nephrology & Urology, Neurology, Ophthalmology, Ear-Nose-Throat [ENT], Others), By End User Hospitals, Specialty Centers & Clinics, Diagnostic Centres) and Others.

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Geographical Analysis of the Vietnam Medical Devices Market

By Region

North
South
Central

Who Dominates the Vietnam Medical Devices Market Insights on Key Industry Players?

Companies are strengthening their presence in the consumer electronics market by adopting strategies such as forming strategic alliances, leveraging AI, entering partnerships, pursuing mergers and acquisitions, expanding into new regions, and introducing innovative products and services.d

Terumo Corporation
USM Healthcare
Nihon Kohden Corporation
Medtronic plc
Stryker
Abbott Laboratories
Koninklijke Philips N.V.
Boston Scientific Corporation
Becton Dickinson and Company
GE Healthcare and others.

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