Vietnam Diagnostic Labs Market Size, Share, Trends, Report: By Provider Type: Hospital Based Diagnostic Labs, Stand Alone Diagnostic Labs; By Test Type: Pathology, Radiology; By End User: Referrals, Walk-ins, Corporate Clients; Market Dynamics: SWOT Analysis: Porter’s Five Forces Model; Regional Analysis; Supplier Landscape; 2024-2032

Vietnam Diagnostic Labs Market Outlook

The Vietnam diagnostic labs market size was valued at USD 1,229.01 million in 2023, driven by the increasing prevalence of chronic diseases across the region. The market is expected to grow at a CAGR of 6.50% during the forecast period of 2024-2032, with the values likely to reach USD 2,166.22 million by 2032.

Vietnam Diagnostic Labs Market Overview

The growth of the market is primarily being driven by the developing healthcare sector in the region. The region has developed significantly in the past few years and the healthcare sector is one of the primary sectors which has been witnessing growth lately. With the rapidly growing economy, the disposable income of the population is growing, leading to the rise of middle-class population in the region. With the rising disposable incomes, people are increasingly inclining towards quality healthcare, which is further adding to the rising demand for diagnostic labs in the region.

Launch of Technically Advanced Products to Boost Diagnostics

In December 2023, Siemens Healthineers and S.I.S Hospital, a pioneering private healthcare hospital in Vietnam, collaborated to bring NAEOTOM Alpha , world’s first FDA approved Photon-Counting CT Scanner into the Vietnamese healthcare landscape. The addition of this technology is a major leap forward in diagnostic imaging as it facilitates diagnostic precision and offers an elaborate power to make better clinical decisions. With a rotation speed of 250 milliseconds and dual X-ray tubes, it offers enhanced power, accuracy, and speed. Such arrivals are anticipated to help the Vietnam diagnostic labs market growth by multiple folds.

Rising Integration of Artificial Intelligence in Diagnostic Labs

Advancing research and development gene activities is expected to boost the Vietnam diagnostic labs market share. In June 2023, Roche  unveiled its novel molecular testing system to provide efficiency, prompt and easy to comprehend results to laboratories of all sizes. The latest system is designed to transform the interaction between patients and healthcare providers by offering accurate testing solutions and treatment strategies based on diagnosis. In addition, the rising integration of artificial intelligence driven analytics is another major trend being adopted by several diagnostic labs in the region.

Surge in Government Investments and Initiatives

The government in the region is making crucial investments to enhance the already existing facilities and to provide the much-needed push to healthcare development in the region. The rapid technological advancements across the globe are leading to advanced product launches in the market, which are increasingly getting adopted in Vietnam as well. The launch of ‘Electronic Medical Records with AI Aid’  project aims to implement artificial intelligence to develop apt tools for data collection and retrieval with ease is a notable example of growth in Vietnam diagnostic labs market size.

International Collaborations to Help the Native Healthcare Staff

The Vietnam diagnostic labs market demand is driven by the increasing indigenous and international partnerships to offer better facilities to the native healthcare staff. In June 2023, South Korean telecom company Dong-A ST, unveiled their recent development with KT, that revolved around the development of a Vietnamese language-based medical information platform. The new platform enables the Vietnamese users to attend online lectures, understand instructions better and play replay of offline seminars. The company is also expanding their telemedicine business in the region.

Vietnam Diagnostic Labs Market Segmentation

Market Breakup by Provider Type

• Hospital Based Diagnostic Labs

• Stand Alone Diagnostic Labs

Market Breakup by Test Type

• Pathology

• Radiology

Market Breakup by End User

• Referrals

• Walk-ins

• Corporate Clients

Market Breakup by Region

• Northern and Central

• Western

• Southern

• Eastern

Vietnam Diagnostic Labs Market Regional Analysis

The market for diagnostic labs has been witnessing significant demand for the past few years with the rising prevalence of chronic diseases. The rising population of geriatric population is also a key factor driving the growth of the market. The increasing investment of the government and the key players is also contributing to the Vietnam diagnostic labs market growth. The rising awareness about the importance of timely diagnosis has been driving the growth of the market and is likely to continue propelling the growth of the market.

Other key drivers of the market growth include the rising investment by the government, which is emphasizing the healthcare sector with the growing economic development of the region.

Based on regions, the Southern region has been leading the regional market due to the rising number of people going for diagnosis and treatment.

Vietnam Diagnostic Labs Market: Competitor Landscape

In October 2023, BGI Genomics finished the first-ever NIFTY® technology  transfer program in Vietnam. NIFTY® is a non-invasive prenatal testing product used by the Hanoi based GENOLIFE Genetic Technology Institute laboratory. GENOLIFE is the nation’s biggest and pioneering genetic analysis tests which also includes hereditary cancer gene testing. The collaboration is aimed at replacing pregnancy-associated plasma protein-A (PAPP-A) and free beta human chorionic gonadotrophin (hCG) tests with NIPT to offer a non-invasive method that screens Down Syndrome, Edwards Syndrome and Patau Syndrome.

The key features of the Vietnam diagnostic labs market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:

• 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 (Labo TH Việt Nam)

• Vietlife Medicine Joint Stock Company

• Hoan My Medical Corporation

• Plus Diagnostics (d+)

• Medlab Vietnam

Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Highlights of the Report

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.