Technological advancements in medical sector are driving the growth of the Vietnam In-vitro diagnostics Market, in the forecast period, 2023-2027F.
According to TechSci Research report on, “Vietnam In-Vitro Diagnostics Market – By Region, Competition Forecast & Opportunities, 2027”, Vietnam in-vitro diagnostics market is anticipated to grow with an impressive CAGR in the forecast period, 2023-2027 on the account of increasing demand for the in-vitro serological tests. Increasing demand for the early diagnosis to provide best patient care and efficient treatment along with the finding actual cause of the disease further drives the growth of the Vietnam in-vitro diagnostics market in the upcoming five years.
Increasing cases of chronic diseases like cardiovascular diseases, renal diseases, chronic respiratory diseases, etc. is further supporting the growth of the Vietnam in-vitro diagnostics market in the next five years. Increasing cases of neurological diseases are also responsible for the growth of the Vietnam in-vitro diagnostics market in the future five years.
Demands for serological tests for the increasing instances of pregnancy along with the increasing cases of diabetes is also increasing demand for the advanced kits for the in-home blood sugar analysis and thus aiding the growth of the Vietnam in-vitro diagnostics market in the forecast years, until 2027.
The higher geriatric population and increasing number of elder populations being susceptible to the chronic as well as infectious diseases has upsurged the requirements for the regular checkups and increased serological tests and has thus aided the growth of the Vietnam in-vitro diagnostics market in the forecast period.
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The Vietnam in-vitro diagnostics market is segmented by product & services, technique, application, end user, competitional landscape, and regional distribution. Based on product & services, the market is further bifurcated into reagents, instruments, and software & services.
Reagents are anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on the grounds of increasing demands for the in-vitro diagnostics. Surge in the number is also due to rising concerns among the population regarding their health. Concerned people are actively investing in maintaining their health and undergo regular checkups to keep monitoring their health.
On the basis of technique, the market is again segmented into immunodiagnostics, hematology, molecular diagnostics, tissue diagnostics, clinical chemistry, and others. Immunodiagnostics are anticipated to hold the largest revenue shares of the market and dominate the market on the increasing demand for the regular health checkups.
Higher prevalence of routine blood and serological analysis and increased concerns regarding health and higher awareness among the population regarding maintaining health are also driving the growth of the Vietnam in-vitro diagnostics market in the next five years.
Advancing technology, and penetration of global market players are aiding the growth of molecular diagnostics. Increasing demand for identification of the infectious microbes and their treatment is further supporting the growth of the Vietnam in-vitro diagnostic market in the future five years.
Based on application, the market is fragmented into infectious diseases, cancer, cardiac diseases, immune system disorders, nephrological diseases, and others. Cancer is anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years due to increasing cases of cancer among the population.
Increasing demand for the early diagnosis of the cancer and analysis of the stage of cancer in the patient further supports the higher prevalence and the growth of the Vietnam in-vitro diagnostics market in the forecast years, until 2027.
A partial list of major market players of the Vietnam in-vitro diagnostics market includes:
- Roche Vietnam
- Abbott Laboratories Vietnam
- BD Vietnam Co. Ltd
- Thermo Fischer Scientific (NI VINA)
- Siemens Healthineers Vietnam
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“Hospitals & clinics are anticipated to hold the largest revenue shares of the market due to increasing demand for the early diagnosis of the gastrointestinal diseases and increasing population of the country. Increasing patient burden is also responsible for the growth of the segment in the upcoming five years. Moreover, regular patient visits when they are suffering from chronic conditions, or pregnant females are also aiding to the growth of the sub segment along with the growth of the Vietnam in-vitro diagnostics market in the next five years. Diagnostic centers are also anticipated to hold significant shares due to surging demands for decreasing the patient burden on the hospitals. New market players may invest financially in technological advancement and modern product manufacturing to support their brand establishment,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global 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, 2027” 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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