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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.
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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 |
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*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 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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India
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Philippines
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+63-287-899-028, +63-967-048-3306
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+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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