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Vietnam Ultrasound Systems Market

Vietnam Ultrasound Systems Market

Vietnam Ultrasound Systems Market, By Product (Compact, Table-top), By Application (Gynecology, Cardiology, Orthopedic, Radiology, Point of Care, Urology, Surgery, and Others), By End-User (Hospitals & Clinics, Diagnostic Center, Ambulatory Care, and Others), Trend Analysis, Competitive Market Share & Forecast, 2018-2028

  • Published Date: August 2022
  • Report ID: BWC22271
  • Available Format: PDF
  • Page: 114

Report Overview

Vietnam Ultrasound Systems Market is flourishing owing to the ultrasound technology advancements and increasing applications in the diagnosis of various conditions such as tumors, cardiovascular diseases, and pain management.

Vietnam Ultrasound Systems Market - Industry Trends & Forecast Report 2028

Vietnam Ultrasound Systems Market is predicted to grow at a CAGR of 8.4% during the forecast period (2022-2028). The rapid expansion of the market is predominantly due to the rising demand for early disease detection and increased attention to identifying infectious diseases. Also, changing healthcare sector and rising investment in the pharmaceutical and diagnostic industries support market growth. Moreover, the prevalence of the target diseases and disorders is expected to encourage the use of efficient diagnostic and therapy techniques. Furthermore, the demand for ultrasound technologies in illness management is anticipated to rise throughout the forecast period because they are more affordable, safer, and provide early detection and treatment of target diseases.

Ultrasound Systems - Overview

Medical ultrasound encompasses both therapeutic ultrasound applications as well as diagnostic ultrasound procedures (mostly imaging techniques). It is used in diagnostics to provide an image of internal body structures including tendons, muscles, joints, blood vessels, and internal organs, to quantify some properties (such as distances and velocities), or to produce an educational sound. Typically, its goal is to identify a disease's origin or to rule out pathology. Ultrasound system, also known as sonography, is the use of ultrasound to create visual pictures for medical purposes. Obstetric ultrasonography, which is the practice of utilizing ultrasound to examine pregnant women, was a precursor to clinical ultrasonography.

Vietnam Ultrasound Systems Market Forecast and Trends

Growth Drivers

Population Growth Drives Market Expansion

The growing burden of patients suffering from various ailments and consumer demand for effective healthcare services all support the expansion of the Vietnam Ultrasound Systems Market over the next five years. The elderly population in the country is growing quickly, and they are especially vulnerable to infectious infections, chronic illnesses, and neurological abnormalities. As a result, there is a greater need for effective diagnostic imaging instruments and equipment, which is driving the market's expansion. Furthermore, government insurance programs for patients are another way it promotes the expansion of the healthcare sector.

Growing Advanced Technology

Artificial intelligence has been introduced in ultrasound developments (AI). Some of the top market players are emphasizing the creation of cutting-edge gadgets and systems that use AI, according to research. Also, this step is being proposed to overcome some constraints connected with the conventional equipment, such as the lengthy inspection process, occasionally poor image quality, and a significant reliance on technicians for image acquisition and interpretation. The market is anticipated to expand faster as a result of key players in the sector introducing AI-based technologies.

Surging Demand for Portable Ultrasound Equipment

Escalating the need for portable ultrasound equipment across the country fuels market growth. According to research, the compact/handheld sector is rapidly growing due to its increased use among bedridden and seriously ill patients. Its portability makes the device more useful in a variety of healthcare environments, including ambulatory care facilities, distant healthcare settings, and hospitals. Moreover, handheld gadgets support clinicians in early screening and rapid patient evaluation. High demand for handheld ultrasound devices is produced by increased use by office-based doctors in many medical specialties, such as urology and gastroenterology, which further supports market growth.

Rising Prevalence of Heart Conditions

The rising use of diagnostic ultrasound for the diagnosis of cardiovascular diseases acts as a major driving factor for the growth of the Vietnam Ultrasound Systems Market. Cardiovascular disorders are becoming more common, and diagnostic ultrasonography equipment is essential for making quick diagnoses of arterial blockages and other cardiovascular issues. Also, the non-invasive procedures, which have no known side effects, are an additional benefit. All these factors boost the growth of the Vietnam Ultrasound Systems Market during the forecast period (2022-2028).

Restraints

Growing Desire among Consumers for Used Equipment

The demand for secondhand ultrasound equipment has increased as a result of the high cost of cutting-edge ultrasound technology (such as focused ultrasound) and the financial limitations experienced by smaller healthcare providers. As a result, it is anticipated that the increased desire for refurbished systems, hinders the growth of the Vietnam Ultrasound Systems Market.

Impact of COVID-19 on Vietnam Ultrasound Systems Market

The COVID-19 pandemic's effects and the lockdowns it precipitated are evident in several areas, including the ultrasonography business. The overall growth of numerous sectors has been significantly impacted over the past year. Additionally, the healthcare, biotechnology, and pharmaceutical industries are concentrating on streamlining their operations to serve the greatest number of patients and healthcare professionals, whereas industries like oil and petroleum, aviation, and mining are suffering a sharp decline in revenues. Moreover, the pandemic has harmed the ultrasound market. Unfavorable changes in regulations and guidelines hampered this market's growth. Manufacturing facility closures due to lockdowns, supply chain disruptions, and recruitment challenges for clinical trials have all hindered the growth of the Vietnam Ultrasound Systems Market.

Vietnam Ultrasound Systems Market - By Product

Based on the product, the Vietnam Ultrasound Systems Market is segmented into Compact and Table-top. Among these, the compact segment accounts for the largest share in the Vietnam Ultrasound Systems Market. This is because due to increased use due to its compactness and convenience for bedridden and severely ill patients. Its portability makes it more useful in a variety of healthcare settings, including hospitals, remote healthcare settings, and ambulatory care centers. All these factors propel the growth of the Vietnam Ultrasound Systems Market during a forecast period (2022-2028).

Vietnam Ultrasound Systems Market

Vietnam Ultrasound Systems Market – By Application

Based on application, the Vietnam Ultrasound Systems Market is segmented into Gynecology, Cardiology, Orthopedic, Radiology, Point of Care, Urology, Surgery, and Others. Among these, the radiology segment holds the largest market share. This is owing to factors such as rising cancer incidence in major countries, technological advancements in the field of ultrasound-based diagnosis and treatment, increasing market availability and physician preference for HIFU in cancer treatment, increasing usage of ultrasound in cancer diagnosis and tissue biopsy, and rising adoption of focused ultrasound in disease therapies are propelling the radiology/general imaging segment forward. All these factors boost the growth of the Vietnam Ultrasound Systems Market during the forecast period (2022-2028).

Vietnam Ultrasound Systems Market - By End-User

Based on end-user, the Vietnam Ultrasound Systems Market is segmented into Hospitals & Clinics, Diagnostic Centers, Ambulatory Care, and Others. The hospital and clinics segment dominates the market share. The substantial share of this market can be ascribed to several factors, including the prevalence of ultrasound-based medical procedures in hospitals, the expansion of hospitals in key regions, and the increasing use of minimally invasive diagnostic and surgical techniques in these settings. This influences the hospital and clinics segment to dominate the market share in the upcoming years.

Competitive Landscape

The leading market players in the Vietnam ultrasound systems market are Philips Vietnam Ltd, GE Healthcare, Siemens Healthineers Vietnam, Neusoft Medical Systems Vietnam, Canon Medical Systems Vietnam, FUJIFILM VIETNAM Co., Ltd., IDS Medical Systems Vietnam Ltd., and other prominent players. 

The Vietnam Ultrasound Systems 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.

Scope of the Report

Attributes Details
Years Considered Historical data – 2018-2021
Base Year – 2021
Forecast – 2022 – 2028
Facts Covered Revenue in USD Million
Product Service/Segmentation By Product, By Application, By End-User
Key Players Philips Vietnam Ltd, GE Healthcare, Siemens Healthineers Vietnam, Neusoft Medical Systems Vietnam, Canon Medical Systems Vietnam, FUJIFILM VIETNAM Co., Ltd., IDS Medical Systems Vietnam Ltd., and other prominent players. 

 

 

By Product

  • Compact
  • Table-top

By Application

  • Gynecology
  • Cardiology
  • Orthopedic
  • Radiology
  • Point Of Care
  • Urology
  • Surgery
  • Others

By End-User

  • Hospitals & Clinics
  • Diagnostic Center
  • Ambulatory Care
  • Others
  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Research Methodology
    1. Qualitative Research
      1. Primary & Secondary Research
    2. Quantitative Research
    3. Market Breakdown & Data Triangulation
      1. Secondary Research
      2. Primary Research
    4. Breakdown of Primary Research Respondents, By Region
    5. Assumption & Limitation
  3. Executive Summary
  4. Vietnam Ultrasound Systems Market Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
      1. Growth Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
    3. Technological Landscape/Recent Development
    4. Regulatory Framework
    5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  5. Vietnam Ultrasound Systems Market Overview
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
      2. By Volume (Thousand Units)
    2. Market Share & Forecast
      1. By Product
        1. Compact
        2. Table-top
      2. By Application
        1. Gynecology
        2. Cardiology
        3. Orthopedic
        4. Radiology
        5. Point Of Care
        6. Urology
        7. Surgery
        8. Others
      3. By End-User
        1. Hospitals & Clinics
        2. Diagnostic Center
        3. Ambulatory Care
        4. Others
  6. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Market Share Analysis, 2021
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Development (Mergers, Acquisitions, Partnerships, etc.)
  7. Impact of Covid-19 on Vietnam Ultrasound Systems Market
  8. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) **
    1. Philips Vietnam Ltd
    2. GE Healthcare
    3. Siemens Healthineers Vietnam
    4. Canon Medical Systems Vietnam
    5. Neusoft Medical Systems Vietnam
    6. FUJIFILM VIETNAM Co., Ltd.
    7. IDS Medical Systems Vietnam Ltd.
    8. Other Prominent Players

 

  1. Key Strategic Recommendations

 

*Financial information in case of non-listed companies will be provided as per availability

**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable

 

List of Figures

 

Figure 1        Vietnam Ultrasound Systems Market Segmentation

Figure 2        Vietnam Ultrasound Systems Market Value Chain Analysis

Figure 3        Company Market Share Analysis, 2021

Figure 4        Vietnam Ultrasound Systems Market Size, By Value (USD Million), 2018-2028

Figure 5        Vietnam Ultrasound Systems Market Share, By Product, By Value, 2018-2028

Figure 6        Vietnam Ultrasound Systems Market Share, By Application, By Value, 2018-2028

Figure 7        Vietnam Ultrasound Systems Market Share, By End-User, By Value, 2018-2028

 

List of Tables

 

Table 1         Vietnam Ultrasound Systems Market Size, By Product, By Value, 2018-2028

Table 2         Vietnam Ultrasound Systems Market Size, By Application, By Value, 2018-2028

Table 3         Vietnam Ultrasound Systems Market Size, By End-User, By Value, 2018-2028

Table 4         Philips Vietnam Ltd Company Overview

Table 5         Philips Vietnam Ltd Financial Overview

Table 6         GE Healthcare Company Overview

Table 7         GE Healthcare Financial Overview

Table 8         Siemens Healthineers Vietnam Company Overview

Table 9         Siemens Healthineers Vietnam Financial Overview

Table 10        Neusoft Medical Systems Vietnam Company Overview

Table 11        Neusoft Medical Systems Vietnam Financial Overview

Table 12        Canon Medical Systems Vietnam Company Overview

Table 13        Canon Medical Systems Vietnam Financial Overview

Table 14        FUJIFILM VIETNAM Co., Ltd. Company Overview

Table 15        FUJIFILM VIETNAM Co., Ltd. Financial Overview

Table 16        IDS Medical Systems Vietnam Ltd. Company Overview

Table 17        IDS Medical Systems Vietnam Ltd. Financial Overview

Market Segmentation

By Product

  • Compact
  • Table-top

By Application

  • Gynecology
  • Cardiology
  • Orthopedic
  • Radiology
  • Point Of Care
  • Urology
  • Surgery
  • Others

By End-User

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

 

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