Vietnam Orthopedic Appliances Market Outlook to 2028

Vietnam Orthopedic Appliances Market Overview

The Vietnam Orthopedic Appliances Market was valued at USD 120 million based on historic data of past five years. This growth is primarily driven by an aging population, the increasing prevalence of musculoskeletal conditions, and rising healthcare expenditure. The demand for advanced orthopedic devices is further boosted by increasing awareness about orthopedic health and the availability of technologically enhanced products.

The key players in the Vietnam Orthopedic Appliances Market include Zimmer Biomet, Stryker Corporation, Smith & Nephew, DePuy Synthes (a Johnson & Johnson company), and Medtronic. These companies dominate the market due to their broad product portfolios, technological advancements, and extensive distribution networks across Vietnam.

In early 2023, Zimmer Biomet launched a mobile clinic initiative aimed at providing sports medicine services to remote and underserved areas in Vietnam. This program is designed to enhance accessibility to orthopedic diagnostic and treatment services, thereby improving healthcare outcomes in less accessible regions.

Ho Chi Minh City, dominates the orthopedic appliances market. In 2023, this region accounted for 45% of the total market share. The dominance of Ho Chi Minh City is attributed to its advanced healthcare infrastructure, concentration of top hospitals, and a higher disposable income level among its population, which supports the demand for premium orthopedic products.

Vietnam Orthopedic Appliances Market Segmentation

The Vietnam Orthopedic Appliances Market is segmented into product, end-user and region:

By Product Type: The market is segmented by product type into joint replacement devices, orthopedic braces, and orthopedic prosthetics. Joint replacement devices held the largest market share. This dominance is driven by the rising number of total knee and hip replacement surgeries. The increasing number of elderly individuals suffering from degenerative joint diseases has further bolstered demand for these devices.

By End-User: The market is segmented by end-user into hospitals, orthopedic clinics, and home care settings. Hospitals held a dominant market share, primarily due to the high number of surgeries and procedures performed in hospital settings. With the governments ongoing investments in improving hospital infrastructure, the hospital segment is expected to maintain its lead. Moreover, hospitals are adopting advanced orthopedic devices for faster recovery and improved patient outcomes.

By Region: The market is divided into four regions: North, South, East, and West. The southern region (including Ho Chi Minh City) dominated the market in 2023. The primary reason for the southern region's dominance is the concentration of leading hospitals and specialty clinics, combined with higher disposable incomes. Ho Chi Minh City alone performed over 5,000 orthopedic surgeries in 2023, significantly higher than other regions.

Vietnam Orthopedic Appliances Market Competitive Landscape

Strykers Introduction of Robotic Surgery Systems: In early 2023, Stryker introduced its Mako robotic surgery system to Vietnam, performing its first successful procedure at a hospital in Ho Chi Minh City. By 2024, an additional 10 hospitals are expected to adopt this technology, enabling more precise joint replacement surgeries. This development has significantly boosted the demand for Stryker's orthopedic devices, with over 1,000 robotic-assisted surgeries projected for 2024.

Smith & Nephews Expansion in Vietnam: In 2023, Smith & Nephew did indeed open a new distribution center in Hanoi, which enhances their ability to supply orthopedic devices, including trauma implants and sports medicine products. This move is part of their strategy to strengthen their presence in the Vietnamese market. Looking ahead to 2024, the company plans to introduce new product lines, including 3D-printed joint implants.

Vietnam Orthopedic Appliances Industry Analysis

Growth Drivers

• Aging Population and Rising Demand for Orthopedic Devices: Vietnams elderly population, estimated at over 12 million in 2023, is projected to increase further. With aging comes a higher incidence of musculoskeletal disorders, including osteoarthritis and fractures. These conditions necessitate orthopedic devices like joint implants, braces, and support systems. In 2023, hospitals reported over 100,000 orthopedic procedures, and by the end 2024, this number is expected to grow due to improved diagnostic capabilities in rural healthcare centers.
• Growing Medical Tourism Industry: Vietnam's medical tourism sector contributed significantly to the orthopedic appliances market in 2023, with over 15,000 medical tourists visiting the country for procedures, including knee and hip replacements. By 2024, this number is expected to increase as more international patients seek cost-effective yet high-quality orthopedic care in Vietnam.
• Technological Advancements in Orthopedic Devices: The introduction of minimally invasive surgical tools and robotics-assisted devices has led to better patient outcomes and reduced recovery times. Vietnam had integrated robotics into their orthopedic surgery departments. This trend is driving the adoption of advanced orthopedic appliances and implants, catering to the growing demand for faster and more efficient treatments.

Challenges

• Shortage of Skilled Surgeons: Vietnam faces a shortage of qualified orthopedic surgeons, particularly those trained in using advanced surgical tools. The lack of skilled professionals in rural regions limits the expansion of advanced orthopedic care. Despite efforts to improve training, the number of surgeons equipped to handle complex cases remains insufficient to meet growing demand.
• Limited Awareness in Rural Areas: While urban centers like Ho Chi Minh City and Hanoi have seen significant adoption of orthopedic appliances, rural areas still lag in awareness and access. Vietnam's rural population had limited access to orthopedic treatments, relying on traditional methods rather than modern medical solutions. This gap is expected to narrow slightly due to government initiatives, but a large portion of the rural population will continue to have limited exposure to advanced orthopedic care.

Government Initiatives

• Investment in R&D for Orthopedic Solutions: In 2023, the government committed USD 100 million towards research and development for locally manufactured orthopedic appliances. With an emphasis on developing cost-effective solutions that cater to the needs of low-income patients. By boosting domestic production capabilities, the government aims to reduce reliance on imported devices and lower the overall cost of treatments.
• Partnership with International Organizations: In 2023, Vietnam entered into collaborations with international healthcare organizations to improve orthopedic care. These partnerships included knowledge transfer programs to train local surgeons and healthcare workers in the latest orthopedic techniques. Such initiatives are expected to expand, with more hospitals integrating advanced orthopedic treatments into their services.

Vietnam Orthopedic Appliances Market Future Outlook

The Vietnam Orthopedic Appliances Market is expected to grow exponentially. Factors contributing to this growth include advancements in 3D-printed implants, rising medical tourism, and an increasing focus on minimally invasive orthopedic procedures. The continued expansion of healthcare infrastructure in Vietnam is expected to further fuel market growth.

Future Trends

• Rise in Medical Tourism: Vietnams orthopedic market is expected to see a substantial increase in medical tourism, international patients are projected to visit the country annually for orthopedic procedures. The availability of high-quality care at lower costs compared to Western countries will continue to attract medical tourists, further driving the demand for advanced orthopedic devices.
• Advancements in Rehabilitation Technologies: The rehabilitation sector in Vietnam will witness significant growth, with the introduction of new rehabilitation technologies such as wearable devices and AI-driven therapy tools. These innovations are expected to improve patient recovery times, rehabilitation devices projected to be in use in the future. This trend will drive the adoption of advanced rehabilitation equipment in hospitals and home care settings across the country.