Vietnam Clinical Laboratory Market is Expected to Reach over USD 200 Million by 2022: Ken Research
Vietnam Clinical Laboratory Market by Labs (Hospital Labs, Independent Labs and Physician Office Labs) and Type of Tests (Lab Test, X-Ray, Ultrasound and CT Scan) along with company profiles of Medic Lab, VietLife and Hoan My.
- Increasing insurance coverage will drive the clinical laboratory market in Vietnam in future.
- Infrastructure upgrade is expected to make a positive impact on the clinical laboratory market in Vietnam.
Analysts at Ken Research in their latest publication “Vietnam Clinical Laboratory Market Outlook to 2022- by Labs (Hospital Labs, Independent Labs and Physician Office Labs) and Type of Tests (Lab Test, X-Ray, Ultrasound and CT Scan)” believe that Obtaining ISO lab accreditation and local accreditation from VILAS, optimizing the number of qualified lab personnel and negotiating improved terms with medical device companies and reducing complexity in procurement will have positive impact on market.
The government will continue to invest in UHC to cover the Vietnamese population with an insurance plan. Vietnam intends to provide health insurance for its major population by 2020. Owing to increase in insurance coverage, clinical laboratories, especially hospital laboratories will witness a rise in clinical lab tests. The government’s focus on specific non-communicable diseases (NCDs) such as cancer prevention will continue. Hospitals will develop satellite departments to relieve the burden of over crowdedness. Primary care clinics are expanding within clinical testing in Vietnam by upgrading their testing equipment and offering more testing options, while leveraging their network of chain clinics to capture a wider consumer market.
Vietnam Clinical Laboratory market is expected to register positive CAGR of around 10.8% during the period 2017-2022. Rise in demand for screening of infectious diseases and Clinical test outsourcing to independent labs are expected to have positive impact on the demand for clinical tests.
Vietnam Clinical Laboratory Market Outlook to 2022
Government’s and private spending on establishing new hospitals coupled with rise in hospitals expenditure on replacing obsolete imaging and diagnostic instruments have positively augmented the market for clinical laboratories. There has been a rise in incidence of communicable diseases such as HIV, TB, Hep-B and Hep-C due to lack of awareness, delayed vaccination in children. Vietnam is in need of rapid testing for Multidrug-resistant Tuberculosis (MDR-TB), with lab development supported by the government and the World Health Organization (WHO).
Since incidence and prevalence of AIDS is high in Vietnam, the US Center for Disease Control and Prevention initiated development of key central and provincial labs for HIV testing. Rise in disease awareness campaigns about the advent, cause and prevention of common diseases have led to people proactively opting for clinical lab tests to ascertain diseases.
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