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The Vietnam interventional cardiology market size was valued at USD 0.8 billion in 2023, driven by the increasing prevalence of cardiovascular diseases across the globe. The market size is anticipated to grow at a CAGR of 7.45% during the forecast period of 2024-2032, with values likely to rise USD 1.4 billion by 2032.
The market is undergoing dynamic growth due to various factors contributing to the evolution of cardiovascular care within the country. With a surge in the prevalence of cardiovascular diseases and an aging population, there is a heightened demand for sophisticated interventional cardiology devices. These include catheters, stents, and guidewires, among others. As Vietnam's healthcare infrastructure continues to improve, there is a notable increase in awareness regarding cardiac health, leading to a growing adoption of interventional procedures. Government initiatives to enhance overall healthcare services are playing a pivotal role in shaping the landscape of interventional cardiology in Vietnam. The ongoing efforts to modernize medical facilities and the promotion of preventive healthcare measures are also likely to contribute significantly to the Vietnam interventional cardiology market share.
Moreover, the rising trend of minimally invasive procedures is gaining momentum, driven by factors such as reduced recovery times and lower associated risks. Major industry players are actively contributing to market growth by introducing innovative technologies tailored to the specific needs of the Vietnamese population. The collaborative efforts between healthcare providers and industry stakeholders further enhance accessibility to state-of-the-art interventional cardiology devices, fostering a conducive environment for advancements in cardiac care.
Rising Prevalence of Cardiovascular Diseases
In Vietnam, the rising prevalence of cardiovascular diseases has spurred a significant demand for advanced medical interventions, particularly in the field of interventional cardiology devices. The increase in lifestyle-related risk factors, such as sedentary habits and dietary changes, has contributed to a rising incidence of cardiac ailments. To address this growing health concern, the Vietnamese healthcare sector is increasingly adopting interventional cardiology devices. These innovative technologies, including stents, catheters, and angioplasty devices, play a pivotal role in diagnosing and treating cardiovascular conditions.
The Vietnam interventional cardiology market growth can be attributed to the proactive approach in the region to combat the escalating burden of heart diseases, emphasizing the importance of timely and effective interventions to enhance patient outcomes and overall cardiovascular health in the region. Based on data presented in the EvoHealth White Paper on ASCVD in Vietnam, the year 2022 witnessed a total of 2.4 million individuals grappling with cardiovascular diseases, and a significant 65% of these cases were attributed to atherosclerosis. Notably, atherosclerosis emerged as the predominant cause of mortality, exhibiting a notably elevated incidence of ischemic heart disease and ischemic stroke.
Adoption of Artificial Intelligence (AI) to Propel the Interventional Cardiology Market Demand in Vietnam
In January 2023, clinical studies revealed that digitally facilitated cardiovascular interventions exhibit the potential to enhance patient outcomes, resulting in a notable 23% decrease in hospital re-admissions. Emerging technologies in the cardiac field encompass artificial intelligence (AI), big data, blockchain, Alexa skills, and chatbots. AI, a groundbreaking technology, enables the processing of extensive data through algorithms, aiding healthcare professionals in optimal decision-making for patient well-being. Modern cardiac ultrasound systems now integrate AI to autonomously identify, segment, label anatomy, determine optimal echo views, and conduct automatic measurements, streamlining the diagnostic process for cardiologists. Such developments are likely to contribute significantly to the Vietnam interventional cardiology market share.
Presently, AI-driven calcium scoring software for cardiac CT scans swiftly generates quantification information and color-codes calcium by vessel segment on dataset slices. AI algorithms are employed to autonomously identify arrhythmias, issuing alerts to patients via wearables or smartphone-based apps that record ECG data. Notably, studies have demonstrated the Kardia, when paired with an Apple Watch, exhibits high sensitivity in detecting atrial fibrillation.
Additionally, research indicates that, when integrated with AI, this technology can non-invasively identify elevated blood potassium levels, potentially indicating diabetes or heart failure. Devices like the Apple Watch and the Kardia Alivecor exemplify such AI applications. Cardiology is experiencing significant strides in AI development, particularly in point-of-care triage through apps and wearable cardiac monitoring technologies. This advancement is poised to enhance the examination process for high-risk patients, facilitating earlier detection of cardiovascular diseases by human cardiology specialists.
Market Breakup by Product
Market Breakup by Type
Market Breakup by Indication
Market Breakup by Age
Market Breakup by Distribution Channel
Market Breakup by End User
Market Breakup by Region
In December 2023, Sweef Capital revealed the second investment from its Southeast Asia Women’s Economic Empowerment Fund (SWEEF) in USM Healthcare (USM). USM is the pioneer company in Vietnam dedicated to local production of essential cardiovascular products.
The key features of the interventional cardiology market report include patent analysis, grants analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players.
The competitive landscape of the interventional cardiology market in Vietnam offers comprehensive information about each competitor. This includes company overview, financials, revenue generation, market potential, research and development investments, new market initiatives, production sites, strengths and weaknesses, product launches, product trial pipelines, product approvals, patents, product range, application dominance, and technology life cycle. It is important to note that these data points specifically pertain to the company's involvement in the Vietnam interventional cardiology market.
The major companies in the market are as follows:
Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2017-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Product |
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Breakup by Type |
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Breakup by Indication |
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Breakup by Age |
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Breakup by Distribution Channel |
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Breakup by End User |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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*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.
1 Preface
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage – Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 Vietnam Interventional Cardiology Market Overview
3.1 Vietnam Interventional Cardiology Market Historical Value (2017-2023)
3.2 Vietnam Interventional Cardiology Market Forecast Value (2024-2032)
4 Vietnam Interventional Cardiology Market Dynamics
4.1 Market Drivers and Constraints
4.2 SWOT Analysis
4.3 Porter’s Five Forces Model
4.4 Key Demand Indicators
4.5 Key Price Indicators
4.6 Industry Events, Initiatives, and Trends
4.7 Value Chain Analysis
5 Vietnam Interventional Cardiology Market Segmentation
5.1 Vietnam Interventional Cardiology Market by Product
5.1.1 Market Overview
5.1.2 Catheters
5.1.2.1 Angiography Catheters
5.1.2.2 Balloon Dilatation Catheters
5.1.2.3 Percutaneous Transluminal Coronary Angioplasty Guiding Catheters
5.1.2.4 Guide Extension Catheters
5.1.2.5 Microcatheters
5.1.2.6 Dual Lumen Catheters
5.1.2.7 Others
5.1.3 Guide Wires
5.1.3.1 Coronary Guide Wires
5.1.3.2 Specialty Guide Wires
5.1.4 Coronary Stents
5.1.4.1 Bare Stents
5.1.4.2 Drug-Eluting Stents
5.1.4.3 Bio Absorbable Stents
5.1.5 Angioplasty Balloons
5.1.5.1 Old/Normal Balloons
5.1.5.2 Drug-Eluting Balloons
5.1.5.3 Cutting/Scoring Balloons
5.1.6 Plague Modification Devices
5.1.6.1 Thrombectomy Devices
5.1.6.2 Atherectomy
5.1.7 Hemodynamic Flow Alteration Devices
5.1.7.1 Embolic Protection Devices
5.1.7.2 Chronic Total Occlusion Devices
5.1.8 Vascular Closure Devices (VCDS)
5.1.9 Nitinol Clip-Based (Starclose) Devices
5.1.10 Suture Based (Perclose)
5.1.11 Collagen Plug-Based (Angio-Seal)
5.1.12 Fractional Flow Reserve (FFR)
5.1.13 Accessories
5.1.14 Angioplasty Kits
5.1.15 Balloon Inflation Devices
5.1.16 Introducer Sheaths
5.1.17 Hemostasis Heart
5.1.18 Others
5.2 Vietnam Interventional Cardiology Market by Type
5.2.1 Market Overview
5.2.2 Conventional
5.2.2.1 Catheters
5.2.2.2 Coronary Guide Wires
5.2.2.3 Coronary Stents
5.2.2.4 Vascular Closure Devices (VCDS)
5.2.2.5 Others
5.2.3 Advanced
5.2.3.1 Plague Modification Devices
5.2.3.2 Hemodynamic Flow Alteration Devices
5.2.3.3 Intravascular Ultrasound (IVUS) Catheters
5.2.3.4 Fractional Flow Reserve (FFR)
5.3 Vietnam Interventional Cardiology Market by Indication
5.3.1 Market Overview
5.3.2 Cardiac Catheterization
5.3.3 Percutaneous Coronary Intervention (PCI)
5.3.4 Coronary Thrombectomy
5.3.5 Atherectomy
5.3.6 Balloon Angioplasty
5.3.7 Stent Implantation
5.3.8 Hypothermia/Intra-Aortic Balloon Pump
5.3.9 Patent Foramen Ovale Closure
5.3.10 Others
5.4 Vietnam Interventional Cardiology Market by Age
5.4.1 Market Overview
5.4.2 Adult
5.4.3 Pediatric
5.4.4 Geriatric
5.5 Vietnam Interventional Cardiology Market by Distribution Channel
5.5.1 Market Overview
5.5.2 Direct Tenders
5.5.3 Third Party Distributors
5.6 Vietnam Interventional Cardiology Market by End User
5.6.1 Market Overview
5.6.2 Hospitals
5.6.2.1 Acute Care Hospitals
5.6.2.2 Long-Term Care Hospitals
5.6.3 Cath Laboratories
5.6.4 Academic & Research Institutes
5.6.5 Other
5.7 Vietnam Interventional Cardiology Market by Region
5.7.1 Market Overview
5.7.2 Northern and Central
5.7.3 Western
5.7.4 Southern
5.7.5 Eastern
6 Patent Analysis
6.1 Analysis by Type of Patent
6.2 Analysis by Publication year
6.3 Analysis by Issuing Authority
6.4 Analysis by Patent Age
6.5 Analysis by CPC Analysis
6.6 Analysis by Patent Valuation
6.7 Analysis by Key Players
7 Grants Analysis
7.1 Analysis by year
7.2 Analysis by Amount Awarded
7.3 Analysis by Issuing Authority
7.4 Analysis by Grant Application
7.5 Analysis by Funding Institute
7.6 Analysis by NIH Departments
7.7 Analysis by Recipient Organization
8 Funding Analysis
8.1 Analysis by Funding Instances
8.2 Analysis by Type of Funding
8.3 Analysis by Funding Amount
8.4 Analysis by Leading Players
8.5 Analysis by Leading Investors
8.6 Analysis by Geography
9 Partnership and Collaborations Analysis
9.1 Analysis by Partnership Instances
9.2 Analysis by Type of Partnership
9.3 Analysis by Leading Players
9.4 Analysis by Geography
10 Regulatory Framework
11 Supplier Landscape
11.1 Boston Scientific Corporation
11.1.1 Financial Analysis
11.1.2 Product Portfolio
11.1.3 Demographic Reach and Achievements
11.1.4 Mergers and Acquisitions
11.1.5 Certifications
11.2 Terumo Vietnam Medical Equipments Co., Ltd
11.2.1 Financial Analysis
11.2.2 Product Portfolio
11.2.3 Demographic Reach and Achievements
11.2.4 Mergers and Acquisitions
11.2.5 Certifications
11.3 Abbott Laboratories
11.3.1 Financial Analysis
11.3.2 Product Portfolio
11.3.3 Demographic Reach and Achievements
11.3.4 Mergers and Acquisitions
11.3.5 Certifications
11.4 Medtronic Plc
11.4.1 Financial Analysis
11.4.2 Financial Portfolio
11.4.3 Demographic Reach and Achievements
11.4.4 Mergers and Acquisitions
11.4.5 Certifications
11.5 Stryker Corporation
11.5.1 Financial Analysis
11.5.2 Product Portfolio
11.5.3 Demographic Reach and Achievements
11.5.4 Mergers and Acquisitions
11.5.5 Certifications
11.6 Becton, Dickinson and Company
11.6.1 Financial Analysis
11.6.2 Product Portfolio
11.6.3 Demographic Reach and Achievements
11.6.4 Mergers and Acquisitions
11.6.5 Certifications
11.7 Angio Dynamics
11.7.1 Financial Analysis
11.7.2 Product Portfolio
11.7.3 Demographic Reach and Achievements
11.7.4 Mergers and Acquisitions
11.7.5 Certifications
11.8 B. Braun Melsungen AG
11.8.1 Financial Analysis
11.8.2 Product Portfolio
11.8.3 Demographic Reach and Achievements
11.8.4 Mergers and Acquisitions
11.8.5 Certifications
11.9 Biotronik
11.9.1 Financial Analysis
11.9.2 Product Portfolio
11.9.3 Demographic Reach and Achievements
11.9.4 Mergers and Acquisitions
11.9.5 Certifications
11.10 Medinol LTD.
11.10.1 Financial Analysis
11.10.2 Product Portfolio
11.10.3 Demographic Reach and Achievements
11.10.4 Mergers and Acquisitions
11.10.5 Certifications
11.11 Philips Electronics N.V.
11.11.1 Financial Analysis
11.11.2 Product Portfolio
11.11.3 Demographic Reach and Achievements
11.11.4 Mergers and Acquisitions
11.11.5 Certifications
11.12 Teleflex Incorporated
11.12.1 Financial Analysis
11.12.2 Product Portfolio
11.12.3 Demographic Reach and Achievements
11.12.4 Mergers and Acquisitions
11.12.5 Certifications
11.13 USM Healthcare
11.13.1 Financial Analysis
11.13.2 Product Portfolio
11.13.3 Demographic Reach and Achievements
11.13.4 Mergers and Acquisitions
11.13.5 Certifications
11.14 Edwards Lifesciences
11.14.1 Financial Analysis
11.14.2 Product Portfolio
11.14.3 Demographic Reach and Achievements
11.14.4 Mergers and Acquisitions
11.14.5 Certifications
11.15 Penumbra Inc
11.15.1 Financial Analysis
11.15.2 Product Portfolio
11.15.3 Demographic Reach and Achievements
11.15.4 Mergers and Acquisitions
11.15.5 Certifications
12 Vietnam Interventional Cardiology Market - Distribution Model (Additional Insight)
12.1 Overview
12.2 Potential Distributors
12.3 Key Parameters for Distribution Partner Assessment
13 Key Opinion Leaders (KOL) Insights (Additional Insight)
14 Company Competitiveness Analysis (Additional Insight)
14.1 Very Small Companies
14.2 Small Companies
14.3 Mid-Sized Companies
14.4 Large Companies
14.5 Very Large Companies
15 Payment Methods (Additional Insight)
15.1 Government Funded
15.2 Private Insurance
15.3 Out-of-Pocket
*Additional insights provided are customisable as per client requirements.
The market attained a value of about USD 0.8 billion in 2023, driven by increasing prevalence of chronic diseases across the globe.
The market is anticipated to grow at a CAGR of 7.45% during the forecast period of 2024-2032, likely to reach a market value of USD 1.4 billion by 2032.
The market demand is driven by the rising prevalence of cardiovascular diseases, technological advancements, expanding healthcare facilities and professionals, increasing disposable income and healthcare spending.
The current market trend involves the rising support from the government in the form of initiatives and investments in cardiology.
Based on products, the market is divided into catheters, guide wires, coronary stents, angioplasty balloons, plaque modification devices among others.
It includes conventional as well as advanced equipment.
Cardiac catheterization, percutaneous coronary intervention (PCI), coronary thrombectomy, atherectomy, balloon angioplasty, stent implantation, hypothermia/intra-aortic balloon pump, patent foramen ovale closure and others are common indications.
It includes adult, pediatric and geriatric population.
Major distribution channels include direct tenders and third-party distributers.
The major regions of the market include Northern and Central, Western, Southern and Eastern.
The key players in the market include Boston Scientific Corporation, Terumo Vietnam Medical Equipments Co., Ltd, Abbott Laboratories, Medtronic Plc, Stryker Corporation, Becton, Dickinson and Company, Angio Dynamics, B. Braun Melsungen AG, Biotronik, Medinol LTD., Philips Electronics N.V., Teleflex Incorporated, USM Healthcare, Edwards Lifesciences, Penumbra Inc.
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