Vietnam 3D Printing Medical Devices Market Report 2022 to 2030

Vietnam 3D Printing Medical Devices Market Analysis

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Vietnam 3D Printing Medical Device Market is expected to witness growth from $15 Mn in 2022 to $50 Mn in 2030 with a CAGR of 16.53% for the forecasted year 2022-2030. Vietnam 3D Printing Medical Devices market has been expanding steadily in recent years due to a number of factors, including an increase in the demand for medical devices, advancements in 3D printing technology, expanding population and rising healthcare requirements and lower manufacturing costs. The market is segmented by application, by technology and by end user. Some key players in this market include: Hanoi Innovation and Technology, Nam Phong Technology, GE Healthcare, Stryker, Medtronic, Siemens Healthineers, Boston Scientific, Philips Healthcare and Stryker.

ID: IN10VNMD002 CATEGORY: Medical Devices GEOGRAPHY: Vietnam AUTHOR: Jigyasu Bhandari

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Vietnam 3D Printing Medical Devices Market Executive Summary

Vietnam 3D Printing Medical Devices Market size is at around $15 Mn in 2022 and is projected to reach $50 Mn in 2030, exhibiting a CAGR of 16.53% during the forecast period. Healthcare spending in Vietnam grew steadily, from $16.1 billion in 2017 to $20 billion in 2021. $23.3 billion is projected for 2025, and $33.8 billion for 2030. Vietnam spent about $185 per person in present health expenses in 2022. Continuous healthcare costs made up 5.37% of the nation's GNP in 2022. Vietnam currently spends $180.72 per person on healthcare, up from $165 in 2020.

The Vietnam now has new options for producing medical devices like implants, surgical instruments, and prosthetics credit to 3D printing technology. People with disabilities can get personalised prostheses thanks to 3D printing technology. Prosthetics can be produced using 3D printing swiftly, easily, and for a lot less money than they could using conventional techniques. This is crucial in the Vietnam, where many individuals may have limited access to prosthetics. Implants that are specially made to meet each patient's requirements are also produced using 3D printing technology. This applies to cranial implants as well as oral and orthopaedic ones. Utilizing 3D printing in the manufacture of implants guarantees greater accuracy, lowers the possibility of complications, and speeds up recovery times. Additionally, surgical guides and templates that can be used during intricate operations have been made using 3D printing technology. These tools, which were developed using a patient's CT or MRI scans, assist doctors in more precisely planning and carrying out operations.

Vietnam 3D printing Medical Device Market

Market Dynamics

Market Growth Drivers Analysis

Vietnam 3D Printing Medical Devices market has been expanding steadily in recent years due to a number of factors, including an increase in the demand for medical devices, advancements in 3D printing technology, and lower manufacturing costs. The demand for 3D printed medical devices is increasing nationwide due to Vietnam's rapidly expanding population and rising healthcare requirements. The ongoing COVID-19 pandemic, which has highlighted the need for cutting-edge medical tools and technologies, has increased this demand even further. In recent years, 3D printing technology has advanced quickly, making it possible to manufacture intricate medical devices that were previously impractical to create using conventional manufacturing techniques. This has created new opportunities for the medical sector, and 3D printing is now being used to create surgical instruments, prosthetic appendages, dental implants, and more. 3D printing can significantly reduce the cost of producing medical devices, particularly in low- to mid-volume manufacturing. This has made it more accessible for small and medium-sized manufacturers to enter the market and produce medical devices at competitive prices.

Market Restraints

In Vietnam, the legal framework governing medical devices is still developing, and there are no particular laws covering 3D-printed medical devices. For manufacturers, navigating the approval procedure and ensuring adherence to regional laws may be challenging. Vietnamese law can make it difficult to protect intellectual property, which manufacturers of 3D printed medical devices may find concerning. Their designs and technology run the risk of being imitated or stolen, which might make it harder for them to thrive in the market.

Competitive Landscape

Key Players

Hanoi Innovation and Technology (VN)
Nam Phong Technology (VN)
Medtronic
Siemens Healthineers
Boston Scientific
GE Healthcare
Stryker

Healthcare Policies and Regulatory Landscape

Vietnam's healthcare regulations and policies have been rapidly changing in recent years, with an emphasis on expanding people access to high-quality healthcare. There are a number of laws and policies in place that control the creation, distribution, and utilisation of 3D printed medical devices. The Ministry of Health is one of the principal regulatory bodies in charge of regulating the 3D Printing medical device industry in Vietnam (MOH). The MOH is in charge of registering and approving medical equipment, including those made using 3D printing technology. The device's safety, effectiveness, and quality are all carefully examined as part of the registration procedure. The Vietnam Medical Device Association (VMDA), which represents the interests of regional medical device manufacturers and fosters the development of the industry, was created by the government in addition to the Ministry of Health. The VMDA works with the government to develop healthcare policies pertaining to medical devices and offers advice on regulation compliance.

1. Executive Summary
1.1 Device Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Regulatory Landscape for Medical Device
1.6 Health Insurance Coverage in Country
1.7 Type of Medical Device
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

3D Printing Medical Devices Market Segmentation

By Component (Revenue, USD Billion):

The 3D Printing Medical Devices market is divided into equipment, materials, and software & services depending on the component. In 2020, the market for 3D printed medical devices was dominated by software and services. During the forecast period, the cost-effectiveness, utility, uniformity, and accuracy provided by services for medical device 3D printing are anticipated to drive the segment's expansion.

Equipment
- 3D Printers
- 3D Bioprinters
Materials
Plastics
- Thermoplastics
- Photopolymers
Metals and Metal Alloys
Biomaterials
Ceramics
Paper
Wax
Other Materials
Services & Software

By Application (Revenue, USD Billion):

The market for 3D-printed medical devices is divided into wearable/implantable medical devices, other medical devices, standard prosthetics and implants, custom prosthetics and implants, tissue-engineered goods, surgical guides, and surgical tools based on the application. In 2020, the custom prosthetics and implants market sector held a greater market share. Biological materials (such skin and bones), plastics, ceramics, and metals are just a few of the materials that may be used to create highly customizable prosthetics and implants using 3D printing. The development of this market sector is anticipated to be fueled by 3D printing of custom implants, which is drawing in new investors and medical device businesses.

Surgical Guides
- Dental Guides
- Craniomaxillofacial Guides
- Orthopedic Guides
- Spinal Guides
Surgical Instruments
Surgical Fasteners
Scalpels
Retractors
Standard Prosthetics & Implants
Orthopedic Implants
Dental Prosthetics & Implants
Craniomaxillofacial Implants
Bone & Cartilage Scaffolds
Ligament & Tendon Scaffolds
Custom Prosthetics & Implants
Tissue-engineered Products
Hearing Aids
Wearable Medical Devices
Other Applications

By Technology (Revenue, USD Billion):

The market for 3D printing medical devices has been divided into various technological categories, including electron beam melting (EBM), laser beam melting (LBM), photopolymerization, droplet deposition or extrusion-based technologies, three-dimensional printing (3DP) or adhesion bonding, and others. The segment of these that accounted for the biggest market share in 2020 was laser beam melting (LBM). The significant market share of this sector is linked to the technology's expanding use in the dentistry sector and in the production of implants for minimally invasive surgery.

Laser Beam Melting
- Direct Metal Laser Sintering
- Selective Laser Sintering
- Selective Laser Melting
- LaserCUSING
Photopolymerization
Digital Light Processing
Stereolithography
Two-photon Polymerization
PolyJet 3D Printing
Fused Deposition Modeling
Multiphase Jet Solidification
Low-temperature Deposition Manufacturing
Microextrusion Bioprinting
Droplet Deposition/Extrusion-based Technologies
Electron Beam Melting
Three-dimensional Printing/Adhesion Bonding/Binder Jetting
Other Technologies

By End User (Revenue, USD Billion):

Hospitals and surgical centers, dentistry and orthopaedic clinics, academic institutions & research laboratories, pharma-biotech & medical device firms, and clinical research organizations make up the different end-user segments of the 3D printing medical devices market. The sector of hospitals and surgical centers held the biggest market share in 2020. The significant market share of this sector can be due to the increased uptake of cutting-edge medical technology by hospitals, the expansion of existing 3D printing facilities, and the rising affordability of 3D printing services.

Hospitals & Surgical Centers
Dental & Orthopedic Clinics
Academic Institutions & Research Laboratories
Pharma-Biotech & Medical Device Companies
Clinical Research Organizations

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.