Report Overview

Vietnam CT Scanners Market is primarily driven by the rising demand for early disease detection, increased attention to identifying infectious diseases, and changing healthcare industry along with the rising investment in these sectors.

Vietnam CT Scanners Market - Industry Trends & Forecast Report 2028

Vietnam CT Scanners Market is predicted to grow at a CAGR of 6.7% during the forecast period (2022-2028). The rapid expansion of the market is predominantly due to the need for advanced computed tomography scanners for diagnosis in sophisticated healthcare facilities across the country. Also, rising rates of population aging, rising demand for medical imaging, and rising preference for minimally invasive diagnostic procedures are all factors contributing to this growth. The increasing requirement for accurate and early diagnosis, the expanding advantages of CT scans over other imaging modalities, and technical improvements are additional key factors propelling the growth of this market.

CT Scanner - Overview

A CT scan combines a series of X-ray images taken from various angles around your body and uses computer processing to create cross-sectional images (slices) of the bones, blood vessels, and soft tissues inside your body. CT scan images contain more information than standard X-rays. CT scans the inside of the body, including organs, blood vessels, and other soft tissues, using X-rays. A contrast agent may be used in CT scans to help visualize internal organs and tissues in the image. An electronic detector array and ionizing radiation, or x-rays, are used in CT to record a pattern of densities and produce an image of a "slice" or "cut" of tissue. Multiple x-ray projections travel through the object while the x-ray beam revolves around it inside the scanner.

Vietnam CT Scanners Market Forecast and Trends

Growth Drivers

Favorable Government Policies for New Businesses

Government policies in Vietnam have encouraged start-ups and multinational corporations to focus on developments in the healthcare industry, particularly in the medical imaging sector, in recent years. Due to favorable economic conditions, several players in medical imaging are shifting their focus to establishing a strong foothold in emerging regions. Moreover, several regions in Vietnam have implemented new policies to attract MNCs and start-up companies in a variety of healthcare domains. According to these policies, start-ups in Vietnam are exempt from tax liabilities for the first three years after they are established. Furthermore, the costs of patent protection are included.

Increasing Healthcare Spending

Healthcare spending per person is increasing nationally. People's ability and desire to spend money on their health has gradually changed how much is spent on it. The Vietnam market for advanced CT scanners is anticipated to increase as a result of this fact in the upcoming years. Additionally, growing diagnostic imaging usage influences the demand for high-tech computed tomography scanners, which is anticipated to drive the Vietnam CT scanners Market during the forecast period.

Market Expansion is being driven by an Increasing Population

Consumer and general population demand for efficient healthcare services, as well as an increasing burden of patients suffering from various diseases, support the growth of the Vietnam CT Scanners Market over the next five years. The country's geriatric population is rapidly growing, and their susceptibility to infectious diseases, chronic illnesses, and neurological disorders is very high. As a result, the demand for efficient diagnostic imaging equipment and tools has increased, resulting in market growth. The government also contributes to the expansion of the healthcare system by offering insurance to patients. In 2019, 85.75 million people in the country had health insurance plans, which will rise to 89.88 million in 2022. As a result, approximately 90% of the population is covered for health-related expenses.

Restraints

High Installation and Maintenance Costs

High installation and maintenance costs would limit market expansion. One of the main reasons impeding the growth of the Vietnam CT Scanners market, for instance, is the high cost of equipment installation and maintenance. The anticipated acquisition cost of computed tomography equipment ranges from USD 300,000 to USD 2,000,000. A 16-slice basic scanner has an annual maintenance cost of about 60,000 USD, whereas a high-end 128-slice scanner has an annual maintenance cost of over 250,000 USD. Small healthcare facilities cannot afford the hefty annual maintenance costs. All these factors hinder the growth of the market.

Impact of COVID-19 on Vietnam CT Scanners Market

Due to the increased use of CT scanners for the management and diagnosis of coronavirus patients, COVID-19 has slowed the demand for computed tomography scanners. Due to the COVID-19 pandemic, major market companies saw a huge boost in their profits. One of the main factors influencing the growth of this imaging equipment during the pandemic is the rise in chronic sickness and the rising population as a modality used in diagnosing patients with COVID-19. However, due to increasing demand for this technology during COVID-19, hospitals and diagnostic facilities ordered CT scanners over what was anticipated during 2020. As a result, a noticeable fall in demand was seen in 2021. The market experienced a 14.9% fall in revenue in 2021.

Vietnam CT Scanners Market - By Type

Based on the type, the Vietnam CT Scanners Market is segmented into Stationary and Portable. Stationary CT scanners are likely to account for the majority of the market share. This is due to the widespread use of stationary CT scanners for their expanding application horizons. All these factors boost the growth of the Vietnam CT Scanners Market during the forecast period (2022-2028).

Vietnam CT Scanners Market – By Architecture

Based on architecture, the Vietnam CT Scanners Market is segmented into C-arm and O-arm. Because of the ongoing commercialization of mobile CT scanners and the procedural benefits offered by O-arm devices, the O-arm CT segment is expected to command a larger share of the Vietnam CT Scanners Market. Furthermore, the increased volume of CT scan procedures, rising adoption of innovative products, and the launch of new products in this segment drive demand for O arm systems. Furthermore, due to its open architecture and ease of patient access, the C-arm segment is expected to grow significantly due to the increased adoption of the C-arm in interventional surgical procedures. All these factors boost the growth of the Vietnam CT Scanners Market during the forecast period (2022-2028).

Vietnam CT Scanners Market - By Slice

Based on slice, the Vietnam CT Scanners Market is segmented into 8-Slice, 16-Slice, 32-Slice, 64-Slice, 128-Slice, and Above 128-Slice. Among these, 8-slice and 16-slice dominate the market share equally. This is because low-slice CT scanners can perform single-plane CT imaging as well as multi-slice imaging with 4, 8, or 16 slices in a single rotation. These include multi-slice CT scanners as well as traditional CT scanners. The significant use of these scanners for major clinical applications (such as pulmonary imaging, urological imaging, intra-operative imaging, and image-guided surgical procedures), a large installation base for low-slice CT scanners across major healthcare markets, affordable product pricing (when compared to medium- and high-slice devices), and greater market preference for low-slice devices across emerging countries are driving the market growth for low-slice CT scanners (due to the optimal imaging capabilities, the need of limited operational skills, and product affordability).

Vietnam CT Scanners Market - By End-User

Based on end-user, the Vietnam CT Scanners Market is segmented into Hospitals & Clinics, Diagnostic Centres, Ambulatory Care, and Others. The veterinary clinics and hospitals segment is expected to grow the fastest during the forecast period, owing to rising market demand for improved poultry and livestock virility and the rising prevalence of major veterinary diseases. All these factors boost the growth of the Vietnam CT Scanners Market during the forecast period (2022-2028).

Competitive Landscape

The leading market players in the Vietnam CT Scanners Market are GE Healthcare, Philips Healthcare Vietnam Ltd, Seimens Healthcare Vietnam, Canon Medical Systems Vietnam, Neusoft Medical Systems Vietnam, Nam Duoc Joint Stock, Kim Dental Vietnam, Nhi Dong 315, and other prominent players.

The Vietnam CT Scanners Market is highly fragmented with the presence of several manufacturing companies in the country. The market leaders retain their supremacy by spending on research and development, incorporating cutting-edge technology into their goods, and releasing upgraded items for customers. Various tactics, including strategic alliances, agreements, mergers, and partnerships, are used.

Recent Development

• In May 2020, Fujifilm Corporation launched new AI-based technology for lung nodule detection. This technology is used to detect pulmonary nodules in chest scans to help in lung cancer diagnosis.

Scope of the Report

By Type

• Stationary
• Portable

By Architecture

• C-arm
• O-arm

By Application

• Cardiac
• Abdominal
• Spinal and Musculoskeletal
• Oncology
• Brain and Neurology   

By Slice

• 8-Slice
• 16-Slice
• 32-Slice
• 64-Slice
• 128-Slice
• Above 128-Slice

By End-User

• Hospitals & Clinics
• Diagnostic Center
• Ambulatory Care
• Others