Diagnostic Imaging Devices - Vietnam

The projected revenue in the Diagnostic Imaging Devices market market in Vietnam is expected to reach US$176.30m by 2024.
It is anticipated that the revenue will demonstrate an annual growth rate (CAGR 2024-2029) of 7.11%, leading to a market volume of US$248.50m by 2029.
In comparison to other countries worldwide, the United States is expected to generate the highest revenue of US$11.93bn in 2024.
Vietnam's diagnostic imaging device market is experiencing rapid growth due to increasing healthcare investment and a rising demand for advanced medical technology.

Definition:
The market covers diagnostic imaging devices such as X-ray systems, ultrasound systems, computed tomography scanners, Magnetic resonance imaging (MRT) systems, and related components.

Additional information:
Market values represent revenues paid to primary vendors at manufacturer price level either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G). Revenues are allocated to the country where the money is spent.

Company examples: Siemens Healthineers, General Electric, Philips, Fujifilm Holdings. Further information on the key players can be found in the Market Shares boxes.

X-ray systems
Computed tomography (CT) scanners
Magnetic resonance imaging (MRT) systems
Positron emission tomography (PET) scanners

Non-imaging diagnostics
In vitro diagnostics (IVD)

The Diagnostic Imaging Devices market in Vietnam is experiencing significant growth, driven by customer preferences for advanced medical technology and the increasing demand for healthcare services. Customer preferences in the Diagnostic Imaging Devices market in Vietnam are shifting towards more advanced and sophisticated imaging devices. This is due to the growing awareness among healthcare professionals and patients about the benefits of early and accurate diagnosis. Customers are increasingly seeking imaging devices that offer high-resolution images, faster scanning times, and improved diagnostic capabilities. Additionally, there is a growing demand for portable and mobile imaging devices, especially in rural areas where access to healthcare facilities is limited. Trends in the market include the adoption of digital imaging technology, which allows for faster and more efficient image processing and analysis. This trend is driven by the need to improve productivity and reduce waiting times for patients. There is also a growing demand for 3D and 4D imaging devices, which provide more detailed and comprehensive images for diagnosis and treatment planning. Furthermore, there is an increasing focus on the integration of imaging devices with other healthcare systems, such as electronic health records, to improve workflow and patient care. Local special circumstances in Vietnam also contribute to the development of the Diagnostic Imaging Devices market. The country has a rapidly aging population, which increases the demand for healthcare services, including diagnostic imaging. Additionally, the government has been investing in the development of healthcare infrastructure and facilities, which creates opportunities for the adoption of advanced imaging devices. Furthermore, the increasing prevalence of chronic diseases, such as cardiovascular diseases and cancer, drives the demand for diagnostic imaging devices for early detection and monitoring of these conditions. Underlying macroeconomic factors, such as the growing economy and rising disposable incomes, also play a role in the development of the Diagnostic Imaging Devices market in Vietnam. As the economy continues to grow, more people have the means to afford healthcare services, including diagnostic imaging. Additionally, the government's efforts to improve healthcare access and quality contribute to the growth of the market. Furthermore, the presence of multinational companies in Vietnam, which offer a wide range of diagnostic imaging devices, stimulates competition and innovation in the market. Overall, the Diagnostic Imaging Devices market in Vietnam is developing rapidly due to customer preferences for advanced technology, trends in the market towards digital imaging and integration, local special circumstances such as an aging population and government investments in healthcare infrastructure, and underlying macroeconomic factors such as economic growth and rising disposable incomes.

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on medical devices and IVD revenues allocated to the country where the money is spent at manufacturer price levels excluding VAT.

Modeling approach / Market size:

Modeling employs a top-down approach with a bottom-up validation, using financial information of the key players by market. Market sizes are determined by a top-down approach, based on a specific rationale for each market market and allocated to the covered countries according to the global market shares. As a basis for evaluating markets, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare system, and regulations concerning medical products. Next, we use further relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare payer system, and regulations concerning medical products. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

Medical technology plays a role in the lives of everyone. It includes most of all, medical devices which simplify the prevention, diagnosis, and treatment of diseases and illnesses. The most well-known medical technology products are, among others, pacemakers, imaging instruments, dialysis machines, and implants. The global medical technology industry was worth over 567 billion U.S. dollars annually. Established centers of this industry include North America and Western Europe. The United States is home to the world’s largest medical technology companies. As of 2022, Abbott Laboratories had the largest global revenue at over 31.2 billion U.S. dollars. The main focus of devices manufactured by the Chicago-based company are diagnostics, cardiovascular, and diabetes care. Two other medtech companies that round off the top three largest companies –Medtronic and Johnson & Johnson – are both based in the United States. Although, industry trends show that Asia, and in particular China, is about to play a more prominent role in the years to come.