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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.
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.
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.
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.
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.
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.
Market Breakup by Provider Type
Market Breakup by Test Type
Market Breakup by End User
Market Breakup by Region
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.
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:
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 Provider Type |
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| Breakup by Test Type |
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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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Vietnam Diagnostic Labs Market Size
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The market attained a value of about USD 1,229.01 million in 2023, driven by the growing incidence of chronic diseases across the region.
The market is anticipated to grow at a CAGR of 6.50% during the forecast period of 2024-2032, likely to reach a market value of USD 2,166.22 million by 2032.
The market demand is driven by the rising support and investment from the government towards the development of the healthcare sector and facilities along with rising prevalence of chronic illnesses especially in the geriatric population.
The major market trend revolves around the advent of new and advanced technologies to improve the quality of services. 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.
Based on provider types, the market is divided into hospital based and stand-alone diagnostic labs.
Pathology and radiology are common test types.
Major end users include referrals, walk-ins, and corporate clients.
Based on region, Northern and Central, Western, Southern and Eastern parts.
Key players involved in the market are 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 Viet Nam), Vietlife Medicine Joint Stock Company, Hoan My Medical Corporation, Plus Diagnostics (d+) and Medlab Vietnam.
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Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City,1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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