The Clinical Laboratories Market in Vietnam is expected to generate ~$560 Mn owing to rise in diseases, growth in Health-Tech startups and rise of new technologies: Ken Research

GURUGRAM, India, Feb. 1, 2023 /PRNewswire/ -- Vietnam Clinical Laboratories Market is at growing stage and has moderately fragmented market with about 10-12 organized lab chains and 7-8 Private Hospital Chains. The Clinical Laboratories Market in the Vietnam has seen emergence of more than 20-30 players over the past 5 years. Medic-Lab and Diag Laboratories are market leaders for Independent Lab Chains and Hoan My and FV Hospital for Private Hospitals.

• The Post-Covid comorbidities would contribute to major part of Testing revenue for the next 12-24 months in the market. Tests like D-dimer, Embolism, Myoglobin shall be essential.
• The behavioral trend among patients in Vietnam has changed and they have grown more concerned about their health which could drive revenues in the future.
• Privatization of Healthcare would imply that Healthcare becomes more expensive and thereby drive Revenue for the overall market in Vietnam.

Brand Building Initiatives: In order to differentiate their offerings, quality, and test accuracy, all major diagnostic retailers investing in their brand building & marketing campaigns. Advertisement campaigns, healthcare camps, and wellness & preventive test packages are being launched under their own brands. Considering the competitive nature of the market, they focus on repeat sales and turning referrals into owned clients.

Emergence of Startups: The Healthcare segment in Vietnam has seen the emergence of a number of startups offering pharmaceutical delivery, online consultation and health check-ups and other services. The clinical laboratories may associate with the likes of eDoctor, Hello BacSi for doctor referrals on diagnostic tests. The angels and VCs have also recently shown interest in the Vietnam Health-Tech market which could mark high growth for the sector. 

Change in Consumption Habits: The general population's consumption habits now include Healthcare as an essential component. More people are enrolled in the Social Health Insurance program and Private Health Insurance as well owing to the rising income. They are availing better facilities at the Private Hospitals and best Clinical Laboratories available.

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 Vietnam" by 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 20212-2027F owing to Increasing Awareness, Rising Disposable Income and new government policies.

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

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By End-User

• Corporate Clients
• Walk-Ins
• Doctor Referrals
• Online Referrals

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

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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

Time Period Captured in the Report:-

• Historical Period: 2016-2022
• Base Period: 2022
• Forecast Period: 2022-2027F

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 below link:-

Vietnam Clinical Laboratories Market

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According to Ken Research estimates, the Thailand Clinical Laboratory Market – which grew at a CAGR of 9.0% in the period of 2016-2021 – is expected to grow at a CAGR of 9.5% in the forecasted period of 2022F-2026F, owing to the increasing healthcare spending by aging population, expanding healthcare spending by the Government, growth in non-communicable disease and chronic diseases and increasing public awareness. The market is led by N Health; having the major share of the Clinical Laboratory Market in Thailand. Other players include Pathlab, Thonburi Clinical Labs, Bangkok Medical Labs, Medical Line Lab, Innotech Laboratories and others. Around 60.0% of medical decisions regarding early disease diagnosis, patient prognosis and treatment selection are based on laboratory diagnostic results.

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