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The Clinical Laboratories Market in Vietnam is growing owing to the Covid-19 pandemic, foreign investment and technological advancement: Ken Research

    Ken Research

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    Focus on Increasing penetration of Private Health Insurance and Change in Consumption Habits Are Major Factor Contributing towards development of Clinical Laboratories Market in Vietnam.

    Lack of Awareness and No commercialization of Clinical Labs: The Vietnam Healthcare market is still largely traditional. The regular check-ups and lab tests are not prevalent, the patients only have tests conducted when recommended by the doctor. Private firms like Diag Laboratories are trying to create that awareness by educating patients and health professionals the benefits of regular diagnostic tests. The Clinical Labs across Vietnam are not very commercialized. They are not aggressively promoted or marketed to the customers or patients. There are not many marketers present in the Healthcare space. The private firms lack specialized marketers to promote their services.

    Government Restraints: Ministry of Health (MoH) Vietnam has imposed certain requirements for setting up a laboratory including a space of 20 square meters, certain qualified technician and authorized equipment which might be difficult to obtain. All services and tests have to be approved by the Ministry which might be a lengthy process.

    Growth in non-communicable disease and chronic diseases: Shift in disease profile, thus changing the level of interaction between doctors and patients from episodic to rhythmic. Increasing incidence of communicable and non-communicable diseases, such as cardiovascular disease, cancer and diabetes, are expected to drive the clinical laboratory testing market.

    Rising disposable Income and Technological Advancements: Rising personal disposable income has led to higher spending on healthcare services including clinical testing. Further there has been an increase in middle to high income earners seeking preventive health check-ups post the pandemic. The Vietnamese population has become receptive to new technologies in healthcare. With Genetic Analysis Test introduced, a lot of people are trying it out and with further advancement, the customers might grow.

    Analysts at Ken Research in their latest publication Vietnam Clinical Laboratories Market Outlook to 2027F- Driven by Private Hospitals driving the future of Healthcare and Clinical Tests in Vietnamby Ken Research observed that Clinical Laboratories market is an emergent healthcare market in Vietnam at a growing stage from the economic crisis after pandemic. The rising government policies and consumption habits of Vietnamese patients, growth of Health-Tech and digital adoption along with rise of new technologies is expected to contribute to the market growth over the forecast period. The market is expected to grow at a 10.4% CAGR during 2022-2027F owing to increasing awareness, rising disposable income and new government policies.

    vietnam-clinical-lab-market

    Key Segments Covered in the report

    Vietnam Clinical Laboratories Market

    By Type of Labs

    Independent Labs

    Private Hospital Labs

    Public Hospital Labs

    By Independent Labs

    Organized Labs

    Unorganized Labs

    By Private Hospital Labs

    In-House Labs

    Third Party Tie-Ups

    By End-User

    Corporate Clients

    Walk-Ins

    Doctor Referrals

    Online Referrals

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    By Payor

    Out-of-Pocket

    Corporate Insurance

    Private Insurance

    Universal Health (Vietnam Govt.)

    By Type of Tests

    Pathology

    Radiology

    By Region

    Northern

    Southern

    Central

    By Age

    0-20

    20-40

    40-60

    Above 60

    Key Target Audience

    Clinic Service Providers

    Clinic Equipment Distributors

    Clinic Equipment Manufacturers

    Clinics

    Hospitals

    Healthcare Companies

    Pharmaceutical Companies

    Tourism Agencies

    Government Bodies & Regulating Authorities

    Market Research and Consulting Firms

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    Time Period Captured in the Report:

    Historical Period: 2016-2022P

    Base Period: 2022P

    Forecast Period: 2023F-2027F

    Companies Covered

    Medic-Lab

    Diag Laboratories

    Chemedic Joint Stock Company

    Labo TH Vietnam

    FV Hospital

    HONG NGOC

    Vin Mec

    Omron

    Abbott

    Terumo

    Siemens

    Key Topics Covered in the Report

    Cross Comparison of Clinical Laboratories Market in Vietnam with Other Countries

    Ecosystem of Clinical Laboratories Market in Vietnam

    Evolution of Independent Clinical Laboratories Market in Vietnam

    Value Chain of Clinical Laboratories Market in Vietnam

    Market Size of Clinical Laboratories Industry in the Vietnam on the basis of Revenue, 2017-2022P

    Market Segmentation of Clinical Laboratories Market in Vietnam, 2022P

    Trends and Developments in Vietnam Clinical Laboratories Market

    Key Challenges in Vietnam Clinical Laboratories Market

    SWOT Analysis: Vietnam Clinical Laboratories Market

    Growth Drivers of Vietnam Clinical Laboratories Market

    Impact of Covid-19 on Vietnam Clinical Laboratories Market

    Vietnam Clinical Laboratory Setup Procedure

    Next Generation Laboratory Technology Trends

    Competition Scenario for Vietnam Clinical Laboratories Market

    Market Positioning Analysis for Clinical Laboratories Market in Vietnam

    Market and Competitor Analysis by comparing Industry Growth

    Pricing Analysis of Market players

    Future Outlook and Projections, 2023E-2026E

    Analyst Recommendations

    For more insights on the market intelligence, refer to the link below:-

    Vietnam Clinical Laboratories Market

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