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Vietnam X Ray Systems Market

Vietnam X Ray Systems Market

Vietnam X-Ray Systems Market, By Type (Rotating Anode Source, Fix Anode Source, and Others), By Mobility (Portable and Stationary), By Application (Cardiovascular, Respiratory, Mammography, Dental, Orthopedics, and Others), By Technology (Analog, Computed Radiography, and Digital Radiography), By End-User (Hospitals & Clinics, Diagnostic Center, Research Center, Ambulatory Care, and Others), Trend Analysis, Competitive Market Share & Forecast, 2018-2028

  • Published Date: July 2022
  • Report ID: BWC22245
  • Available Format: PDF
  • Page: 114

Report Overview

Vietnam X-Ray Systems Market is flourishing owing to the rising demand for early disease detection and increased attention to identifying infectious diseases along with the changing healthcare landscape and rising diagnostic sector investment...

Vietnam X-Ray Systems Market - Industry Trends & Forecast Report 2028

Vietnam X-Ray Systems Market is predicted to grow at a CAGR of 5.8% during the forecast period (2022-2028). The rapid expansion of the market is predominantly due to the rising demand for X-ray systems. Also, the growing demand for early disease diagnosis and detection supports market growth. The majority of the time, X-ray devices are painless, non-invasive, and useful for diagnosing conditions including cancers, broken bones, and tooth rot. Additionally, it is employed to look for foreign bodies. As radiation therapy is used to destroy cancerous tumors and cells by destroying the DNA, X-rays are also used in the treatment of cancer. Over the projected period of 2022-2028, it is also anticipated that the growing geriatric population and the rise in the prevalence of chronic diseases further contribute to the expansion of the Vietnam market.

X-Ray Systems - Overview

An X-ray imaging system consists of a generator control console from which the operator selects desired techniques to produce a readable image of high quality (kVp, mA, and exposure time). Moreover, X-ray systems are typically painless and non-invasive, and they aid in the diagnosis of conditions such as tumors, broken bones, and dental decay. It can also detect the presence of foreign bodies. X-rays are also used in cancer treatment because radiation therapy is used to destroy cancerous tumors and cells by damaging the DNA. Fixed X-ray machines, Portable X-ray machines, and Mobile X-ray machines are some examples of X-ray systems

Vietnam X-Ray Systems Market Forecast and Trends

Growth Drivers

Rising Prevalence of Chronic Diseases

The growing burden of chronic disease has become a source of concern for everyone across the nation. In a population-based survey conducted in rural Vietnam, it was discovered that 39% of those between the ages of 25 and 74 reported having at least one chronic illness. More than 10% of them claimed to have two or more chronic illnesses. Chronic illness risk factors have widespread in Vietnam as well. On the other hand, using a variety of imaging modalities to discover the issue early can assist stop it from getting worse. The public prefers radiography because it is the most widely used, widespread, and economical diagnostic imaging technique. Due to the rising prevalence of chronic diseases, market participants have been able to invest in medical X-ray equipment research and development. The market for x-ray systems is being driven ahead by a rise in preventative healthcare and screening programs, technological advancements, and an increase in government efforts.

Product Development and Ongoing Technical Advancement

One of the most important drivers of the expansion of the X-ray industry is technological progress. Digital X-ray systems are becoming more and more popular due to factors including image quality, image acquisition speed, portability, detector form, and software. The advantages of sophisticated digital X-ray systems, such as their capacity to process enormous volumes of data and examine patients quickly, are driving up demand for them. Many businesses are creating digital systems that are more effective and performant. These systems provide radiologists with diagnostic-quality images and stitching functionality to address a wide range of clinical applications. The market for Vietnam X-ray systems is being helped by innovation and the creation of cutting-edge technologies.

AI-Powered Digital X-ray System Development

One of the most promising areas of health innovation is the use of artificial intelligence (AI), particularly in medical imaging. In this regard, many ongoing research and development programs have aided the industry. Various companies are currently conducting R&D activities to provide AI in various imaging modalities, including digital X-ray systems. Some medical systems are offering AI1 automated imaging analysis solutions to clinicians, allowing them to provide faster, more accurate diagnoses for improved patient care. These advancements have also aided in the positive adoption of AI in diagnostic imaging. All these factors boost the growth of the Vietnam X-Ray Systems Market during the forecast period (2022-2028).

Restraints

Costly Digital X-ray Equipment

The price of digital X-ray systems is high, and their installation costs are considered as well, raising the cost of the procedure for patients. This has an impact on how quickly new methods are adopted, particularly in developing nations. Due to their modest or constrained budgets, the majority of small and medium-sized hospitals cannot afford these systems. When purchasing such expensive systems, healthcare facilities frequently rely on third-party payers (such as Medicare, Medicaid, or commercial health insurance plans) to cover the expenses of the diagnostic, screening, and treatments carried out utilizing these systems. The high price of digital X-ray equipment also steers customers toward refurbished models, which harms sales of new and sophisticated models. This hinders imaging centers from investing in technologically cutting-edge diagnostic imaging modalities, which inhibits the growth of the total industry along with ongoing reductions in reimbursements for diagnostic imaging scans.

Impact of COVID-19 on Vietnam X-Ray Systems Market

In 2020, the COVID-19 pandemic harmed the economy and caused several difficulties for patients and clinical healthcare providers. Because of the stringent lockdowns that the governments of the majority of countries applied, COVID-19 has also had an impact on different levels of the value chain. Newer packaging guidelines and country-imposed lockout procedures have also impacted the turnaround time for the delivery of goods and services. All of these elements have a detrimental effect on the production and supply chain of digital X-ray equipment. COVID-19, on the other hand, has created new opportunities for X-ray manufacturers and healthcare providers. Chest imaging has been considered as an alternative approach for patients with suspected or probable COVID-19 in settings where laboratory testing (RT-PCR) is not available, or results are delayed or initially negative.

Vietnam X-Ray Systems Market - By Type

Based on the type, the Vietnam X-Ray Systems Market is segmented into Rotating Anode Source, Fix Anode Source, and Others. Among these, the rotating anode source segment holds the largest market share. This is due to a rotating anode enabling the electron beam to cover a wider region of the anode, making up for the loss of the stationary anode's advantage of increased radiation intensity and reducing anode damage. Also, the rotation of the anode ensures that no single spot receives multiple pulses of electrons. If there was no rotation, the anode face would almost certainly be damaged due to the high heat. All these factors propel the growth of the Vietnam X-Ray Systems Market during a forecast period (2022-2028).

Vietnam XRay Systems Market

Vietnam X-Ray Systems Market – By Mobility

Based on mobility, the Vietnam X-Ray Systems Market is segmented into Portable and Stationary. Among these, the portable segment holds the largest market share. For the diagnosis and monitoring of patients in intensive care units, nursing homes, jails, or homeless shelters where transfer to the hospital radiology department may be difficult, portable X-ray has been a beneficial tool. Moreover, it makes work processes more effective and enables the ability to see more patients. Also, makes visits easier for seriously ill or injured patients. Furthermore, it permits clinicians to see patients off-site when those patients are suffering from problems that would make it difficult for them to travel to a facility. All these factors boost the growth of the Vietnam X-Ray Systems Market during the forecast period (2022-2028).

Vietnam X-Ray Systems Market - By Application

Based on application, the Vietnam X-Ray Systems Market is segmented into Cardiovascular, Respiratory, Mammography, Dental, Orthopedics, and Others. Among these, the dental segment accounts to hold the largest market share. This is primarily due to the rising prevalence of dental disorders among the geriatric and adult populations, increased awareness of these disorders, and increased diagnostic spending capacity.

Vietnam X-Ray Systems Market - By Technology

Based on technology, the Vietnam X-Ray Systems Market is segmented into Analog, Computed Radiography, and Digital Radiography. Among these, the computed radiography segment accounts to hold the largest market share. The original Computed Radiography (CR) system used cassettes registered as Phosphor Storage Plates (PSP), this method has many advantages, including a decrease in the amount of time it takes to generate images from x-rays and the removal of the need to recycle the cassettes containing the x-ray film. In developing countries where the adoption of new technologies is delayed, computed radiography has been demonstrated to be in high demand. Moreover, the category of Digital Radiography (DR) is anticipated to grow at the fastest pace during the anticipated time frame. Since DR uses flat panel detectors to provide high contrast resolution photos with less ionizing radiation, there is a growing need for it (FPD). This technology is also smaller, more portable, and capable of assessing photos fast. Increasing end-user adoption of DR technology to improve workflow is expected to drive sector growth during the forecast period.

Vietnam X-Ray Systems Market - By End-User

Based on end-user, the Vietnam X-Ray Systems Market is segmented into Hospitals & Clinics, Diagnostic Center, Research Center, Ambulatory Care, and Others. Among these, the hospital and clinics sector leads the market. In outpatient settings, X-ray systems are a substantial source of income, and the number of patients visiting hospitals with various chronic conditions is rising. As a result, hospitals are always developing and improving these systems. Additionally, it is anticipated that in the next years, there is a rise in demand for new installations as a result of the expanding collaboration between hospitals and industrial groups.

Competitive Landscape

The leading market players in the Vietnam X-Ray Systems Market are Great Asia Co., Ltd, Thanh Thy Co., Tan Dai Diung Ltd, FUJIFILM Vietnam Co Ltd, Siemens Vietnam, Neusoft Medical Systems Vietnam, Canon Medical Systems Vietnam, Shimadzu Vietnam, IDS Medical Systems Vietnam, and other prominent players.

The Vietnam X-Ray 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 Type, By Mobility, By Application, By Technology, By End-User
Key Players Great Asia Co., Ltd, Thanh Thy Co., Tan Dai Diung Ltd, FUJIFILM Vietnam Co Ltd, Siemens Vietnam, Neusoft Medical Systems Vietnam, Canon Medical Systems Vietnam, Shimadzu Vietnam, IDS Medical Systems Vietnam, and other prominent players.

 

 

By Type

  • Rotating Anode Source
  • Fix Anode Source
  • Others

By Mobility

  • Portable
  • Stationary

By Application

  • Cardiovascular
  • Respiratory
  • Mammography
  • Dental
  • Orthopedics
  • Others

By Technology

  • Analog
  • Computed Radiography
  • Digital Radiography

By End-User

  • Hospitals & Clinics
  • Diagnostic Center
  • Research 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 X-Ray 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 X-Ray 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 Type
        1. Rotating Anode Source
        2. Fix Anode Source
        3. Others
      2. By Mobility
        1. Portable
        2. Stationary
      3. By Application
        1. Cardiovascular
        2. Respiratory
        3. Mammography
        4. Dental
        5. Orthopedics
        6. Others
      4. By Technology
        1. Analog
        2. Computed Radiography
        3. Digital Radiography
      5. By End-User
        1. Hospitals & Clinics
        2. Diagnostic Center
        3. Research Center
        4. Ambulatory Care
        5. 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 (Merger, Acquisition, Partnership, etc.)
  7. Impact of Covid-19 on Vietnam X-Ray Systems Market Industry
  8. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) **
    1. Great Asia Co., Ltd
    2. Thanh Thy Co.,
    3. Tan Dai Diung Ltd
    4. FUJIFILM Vietnam Co Ltd
    5. Siemens Vietnam
    6. Neusoft Medical Systems Vietnam
    7. Canon Medical Systems Vietnam
    8. Shimadzu Vietnam,
    9. IDS Medical Systems Vietnam
    10. Other Prominent Players
  9. 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 X-Ray Systems Market Segmentation

Figure 2        Vietnam X-Ray Systems Market Value Chain Analysis

Figure 3        Company Market Share Analysis, 2021

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

Figure 5        Vietnam X-Ray Systems Market Share, By Type, By Value, 2018-2028

Figure 6        Vietnam X-Ray Systems Market Share, By Mobility, By Value, 2018-2028

Figure 7        Vietnam X-Ray Systems Market Share, By Application, By Value, 2018-2028

Figure 8        Vietnam X-Ray Systems Market Share, By Technology, By Value, 2018-2028

Figure 9        Vietnam X-Ray Systems Market Share, By End-User, By Value, 2018-2028

 

List of Tables

 

Table 1         Vietnam X-Ray Systems Market Size, By Type, By Value, 2018-2028

Table 2         Vietnam X-Ray Systems Market Size, By Mobility, By Value, 2018-2028

Table 3         Vietnam X-Ray Systems Market Size, By Application, By Value, 2018-2028

Table 4         Vietnam X-Ray Systems Market Size, By Technology, By Value, 2018-2028

Table 5         Vietnam X-Ray Systems Market Size, By End-User, By Value, 2018-2028

Table 6         Great Asia Co., Ltd Company Overview

Table 7         Great Asia Co., Ltd Financial Overview

Table 8         Thanh Thy Co., Ltd Company Overview

Table 9         Thanh Thy Co., Ltd Financial Overview

Table 10        Tan Dai Diung Ltd Company Overview

Table 11        Tan Dai Diung Ltd Financial Overview

Table 12        FUJIFILM Vietnam Co Ltd Company Overview

Table 13        FUJIFILM Vietnam Co Ltd Financial Overview

Table 14        Siemens Vietnam Company Overview

Table 15        Siemens Vietnam Financial Overview

Table 16        Neusoft Medical Systems Vietnam Company Overview

Table 17        Neusoft Medical Systems Vietnam Financial Overview

Table 18        Canon Medical Systems Vietnam Company Overview

Table 19        Canon Medical Systems Vietnam Financial Overview

Table 20        Shimadzu Vietnam Company Overview

Table 21        Shimadzu Vietnam Financial Overview

Table 22        IDS Medical Systems Vietnam Ltd Company Overview

Table 23        IDS Medical Systems Vietnam Financial Overview

 

 

Market Segmentation

By Type

  • Rotating Anode Source
  • Fix Anode Source
  • Others

By Mobility

  • Portable
  • Stationary

By Application

  • Cardiovascular
  • Respiratory
  • Mammography
  • Dental
  • Orthopedics
  • Others

By Technology

  • Analog
  • Computed Radiography
  • Digital Radiography

By End-User

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