Vietnam Clinical Laboratories Market Outlook to 2027F
Driven by Private Hospitals driving the future of Healthcare and Clinical Tests in Vietnam
Region:Asia
Author(s):Yatin Mighlani
Product Code:KR1250
November 2022
58
About the Report
The report provides a comprehensive analysis of the potential of Clinical Laboratories Market in Vietnam. The report covers an overview and genesis of the industry, market size in terms of revenue.
Its market segmentations include by types of labs, by independent labs, by private hospitals, by end-users, by payor, by type of tests, by region and by age; growth enablers and drivers; challenges and bottlenecks; trends driving adoption trends; regulatory framework; end-user analysis, industry analysis, competitive landscape including competition scenario and market shares of major players. The report concludes with future market projections of each market segmentation and analyst recommendations.
Market Overview:
According to Ken Research estimates, the Vietnam Clinical Laboratories Market expanded at a CAGR of 24.2% in between 2017 and 2022 on the basis of revenue generated. The market faced rapid growth in the year of 2020 owing to Covid and reflected high growth in 2022 too but the growth is expected to normalize in the coming years. Vietnam Clinical Laboratories Market is estimated to grow at a positive CAGR of 10.4% in between 2023E and 2027E. The Private Health Insurance market is set to grow in double digits which in turn would benefit Private Healthcare and boost the bottom-line.
- The Clinical Laboratories Market in the Vietnam has seen emergence of more than 20-30 players over the past 5 years.
- Most healthcare facilities in the industry are concentrated in two cities, Ho Chi Minh and Hanoi owing to the higher per capita income, higher population and center for commerce and industrial growth.
- Medic-Lab and Diag Laboratories are market leaders for Independent Lab Chains and Hoan My and FV Hospital for Private Hospitals.
Key Trends by Market Segment:
By End-User: The contribution through doctor referrals is low as the firms have to share revenue when entering into such agreements with the doctor. Walk-Ins hold the most contribution at ~229.32 million USD as most of the patients taking any treatment are Walk-Ins for the Hospitals as well as for the Independent Labs.
By Type of Private Hospital Labs: Private Hospitals are not generally looking to tie-up with third parties for clinical laboratory facilities as a major share of their revenues in hospitals is driven by the diagnostic tests. They may partner with the independent clinical labs for certain camps or any particular tests for which they do not have the equipment.
By Type of Tests: Pathology Tests contribute slightly higher to the Revenue as Blood Tests are easily conducted and usually required for diagnosis of most diseases. The Radiology tests are, however, highly priced as compared to Pathology and make up a heavy chunk of the Revenue.
Competitive Landscape
The competitive rivalry is medium among the competitors. There are Private Hospitals and Independent Labs in the market. Hoan My Medical Corporation, Diag Laboratories and Medic-Lab dominated the Clinical Laboratories Market in Vietnam in 2022P.
Future Outlook
The Clinical Laboratories companies can expand into other geographies in the Vietnam, like Hoi An and Da Nang, which can be developed for healthcare. Customer Experience can be key as the market is still fresh and a lot more players can enter.
Scope of the Report
|
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 |
|
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 Others |
|
By Region |
Northern Southern Central |
|
By Age |
0-20 20-40 40-60 Above 60 |
Products
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- 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: 2017-2022P
- Base Period: 2022P
- Forecast Period: 2023F-2027F
Companies
Major Players Mentioned in the Report
- Medic-Lab
- Diag Laboratories
- Chemedic Joint Stock Company
- Labo TH Vietnam
- FV Hospital
- HONG NGOC
- Vin Mec
- Omron
- Abbott
- Terumo
- Siemens
Table of Contents
1. Executive Summary
1.1 Executive Summary: Vietnam Clinical Laboratories Market
2. Country Overview: Vietnam
2.1 Overview of Vietnam
2.2 Population Analysis for Vietnam
2.3 Healthcare Analysis for Vietnam
2.4 Health Insurance (Public, Private) Coverage in Vietnam
3. Market Overview of Clinical Laboratories Market in Vietnam
3.1 Cross Comparison of Clinical Laboratories Market in Vietnam with Other Countries
3.2 Ecosystem of Clinical Laboratories Market in Vietnam
3.3 Evolution of Independent Clinical Laboratories Market in Vietnam
3.4 Value Chain of Clinical Laboratories Market in Vietnam
4. Market Size of Clinical Laboratories Market in Vietnam
4.1 Market Size of Clinical Laboratories Industry in the Vietnam on the basis of Revenue, 2017-2022P
5. Market Segmentation of Clinical Laboratories Market in Vietnam, 2022P
5.1 Segmentation by Type of Labs (Public Hospital Labs, Private Hospital Labs, Independent Lab chains)
5.2 Segmentation by Number of Independent Labs (Organized, Unorganized)
5.3 Segmentation by End-User (Corporate Clients, Walk-Ins, Doctor Referrals, Online Referrals) and By Private Hospital Labs (In-House Labs, Third Party Tie-ups)
5.4 Segmentation by Type of Tests (Pathology, Radiology) and by Payor (Out-of-Pocket, Corporate Insurance, Private Insurance, Government Insurance)
5.5 Segmentation by Customer Age (0-20, 20-40, 40-60, Above 60) and by Region (Northern, Southern, Central)
6. Industry Analysis
6.1 Trends and Developments in Vietnam Clinical Laboratories Market
6.2 Key Challenges in Vietnam Clinical Laboratories Market
6.3 SWOT Analysis: Vietnam Clinical Laboratories Market
6.4 Growth Drivers of Vietnam Clinical Laboratories Market
6.5 Impact of Covid-19 on Vietnam Clinical Laboratories Market
6.6 Vietnam Clinical Laboratory Setup Procedure
6.7 Next Generation Laboratory Technology Trends
7. Competition Analysis
7.1 Competition Scenario for Vietnam Clinical Laboratories Market
7.2 Market Positioning Analysis for Clinical Laboratories Market in Vietnam
7.3 Market and Competitor Analysis by comparing Industry Growth
7.4 Company Profile/Competitive Landscape of Major Organized Diagnostics Labs in Indonesia (Company Overview, Regions, Lab Equipment Supplies,
7.5 Third Party Tie-Ups, Recent Developments, Future Plans, Number of Labs and Branches, Number of Tests Conducted, Revenue per Visit, Best
7.6 Selling Tests, Revenues in USD (2021), Revenue Split by Type of Tests (2021), Marketing Expenditure (2021)
7.7 Pricing Analysis of Market players
7.8 Case Study: Diag Laboratories
8. Future Outlook and Projections, 2023E-2026E
8.1 Future Market Size of Clinical Laboratories Market in Vietnam on the basis of Revenue, 2023E-2027E
8.2 Future Market Segmentation by Type of Labs (Public Hospital Labs, Private Hospital Labs, Independent Lab chains)
8.3 Future Market Segmentation by Number of Independent Labs (Organized, Unorganized)
8.4 Future Market Segmentation by Private Hospital Labs (In-House Labs, Third Party Tie-ups) and By End-User (Corporate Clients, Walk-Ins, Doctor Referrals, Online Referrals)
8.5 Future Market Segmentation by Payor (Out-of-Pocket, Corporate Insurance, Private Insurance, Government Health Insurance) and By Type of Tests (Pathology, Radiology)
8.6 Future Market Segmentation by Region (Northern, Southern, Central) and By Customer Age (0-20, 20-40, 40-60, Above 60)
9. Analyst Recommendations
10. Industry Speaks
11. Research Methodology
11.1 Market Definitions and Assumptions
11.2 Abbreviations
11.3 Market Sizing Approach
11.4 Consolidated Research Approach
11.5 Understanding Market Potential Through In-Depth Industry Interviews
11.6 Primary Research Approach
11.7 Limitations and Future Conclusion
Disclaimer
Contact Us
Research Methodology
Step 1: Identifying Key Variables:
Ecosystem creation for all the major entities and referring to multiple secondary and proprietary databases to perform desk research around market to collate industry level information.
Step 2: Market Building:
Exhaustive secondary research done on the Clinical Laboratories industry. Gathered information on the Clinical Laboratories industry from several industry articles, company websites, blogs, industry reports.
Step 3: Validating and Finalizing:
Building market hypothesis and conducting CATIs with industry exerts belonging to different companies to validate statistics and seek operational and financial information from company representatives.
Step 4: Research output:
Our team will approach MBO providing channels and understand nature of product segments and sales, consumer preference and other parameters, which will support us validate statistics derived through bottom to top approach from MBO players.
Frequently Asked Questions
01 What is the Study Period of this Market Report?
The Vietnam Clinical Laboratories Market is covered from 2017–2027 in this report, including a forecast for 2023-2027.
02 What is the Future Growth Rate of the Vietnam Clinical Laboratories Market?
The Vietnam Clinical Laboratories Market is expected to witness a CAGR of ~10.4%.
03 What are the Key Factors Driving the Vietnam Clinical Laboratories Market?
Rise in communicable and non-communicable diseases, consumption habits and growth of Health-Tech and digital adoption.
04 Which is the Largest Lab Type Segment within the Vietnam Clinical Laboratories Market?
The public hospital lab type segment held the largest share of the Vietnam Clinical Laboratories Market in 2022.
05 Who are the Key Players in the Vietnam Clinical Laboratories Market?
Medic-Lab and Diag Laboratories.
Why Buy From Us?
What makes us stand out is that our consultants follows Robust, Refine and Result (RRR) methodology. i.e. Robust for clear definitions, approaches and sanity checking, Refine for differentiating respondents facts and opinions and Result for presenting data with story
We have set a benchmark in the industry by offering our clients with syndicated and customized market research reports featuring coverage of entire market as well as meticulous research and analyst insights.
While we don't replace traditional research, we flip the method upside down. Our dual approach of Top Bottom & Bottom Top ensures quality deliverable by not just verifying company fundamentals but also looking at the sector and macroeconomic factors.
With one step in the future, our research team constantly tries to show you the bigger picture. We help with some of the tough questions you may encounter along the way: How is the industry positioned? Best marketing channel? KPI's of competitors? By aligning every element, we help maximize success.
Our report gives you instant access to the answers and sources that other companies might choose to hide. We elaborate each steps of research methodology we have used and showcase you the sample size to earn your trust.
If you need any support, we are here! We pride ourselves on universe strength, data quality, and quick, friendly, and professional service.