Vietnam Artificial Intelligence in Diagnostics Market Report 2022 to 2030

Vietnam Artificial Intelligence (AI) in Diagnostics Market Analysis

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Vietnam's Artificial Intelligence (AI) in the diagnostics market is projected to grow from $5.0 Mn in 2022 to $xx Mn by 2030, registering a CAGR of xx% during the forecast period of 2022-30. The market will be driven by the rising incidence of chronic diseases and expanded investments in the AI Diagnostic industry. The market is segmented by component & by diagnosis. Some of the major players include IBM Watson Health, Siemens Healthineers & Genetica.

ID: IN10VNDH002 CATEGORY: Digital Health GEOGRAPHY: Vietnam AUTHOR: Vidhi Upadhyay

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Vietnam Artificial Intelligence (AI) in Diagnostics Market Executive Summary

The Vietnam Artificial Intelligence (AI) in the diagnostics market is projected to grow from $5.0 Mn in 2022 to $xx Mn by 2030, registering a CAGR of xx% during the forecast period of 2022-2030. According to the International Monetary Fund's (IMF) Global Economic Outlook, Vietnam's GDP in 2021 was around US$368 billion, ranking it sixth in Southeast Asia and 41st in the world. According to the EvoHealth White Report on ASCVD in Vietnam, there were 2.4 Mn patients with cardiovascular illnesses in 2019, with atherosclerosis accounting for 65% of the cases. It is also the primary cause of mortality, with a significant prevalence of ischemic heart disease and stroke.

The use of Artificial Intelligence (AI) in diagnostics is still in its early stages in Vietnam, although there is significant interest and investment in this field. The Vietnamese government has identified the potential benefits of AI in healthcare and has set a target of being a regional leader in AI applications by 2030. Numerous local and foreign firms are now developing AI-based diagnostic solutions in Vietnam, with the goal of enhancing disease detection and diagnosis quickly and accurately. Radiology, pathology, and cardiology are some of the fields where AI is being used in diagnoses. Genetica, a Vietnamese company, is developing an AI-powered platform that can analyze genetic data and assist in the diagnosis of rare diseases.

vietnam artificial intelligence in diagnostics market analysis

Market Dynamics

Market Growth Drivers

Vietnam's aging population and non-communicable diseases such as diabetes, cardiovascular disease, and cancer are becoming more prevalent. The Vietnamese government recognizes healthcare as a critical source of economic development and has expanded its investment in the industry. Advances in technology, a shortage of medical experts, and initiatives to digitize healthcare data and enhance the availability of healthcare through telemedicine are projected to accelerate the expansion and acceptance of AI-based diagnostic tools in Vietnam in the future years.

Market Restraints

One of the barriers to the use of AI in diagnostics in Vietnam is the scarcity of data, as electronic health records (EHRs) are not yet commonly used. As a result, the development of AI systems and algorithms that rely on enormous volumes of data to be taught has been hampered. Another challenge that may hinder the deployment of AI technology in Vietnam is the lack of regulatory frameworks to oversee the development and use of AI in diagnostics.

Competitive Landscape

Key Players

GE Healthcare
IBM Watson Health
Siemens Healthineers
Philips Healthcare
Google Health
AliveCor, Inc.
Genetica (VNM)
VinBrain (VNM)
FPT Corporation (VNM)

Notable Deals

January 2023, VinBrain, an AI healthcare software startup, engaged in a legal agreement with Microsoft to use its suite of AI-powered pathology solutions capable of detecting 21 disease signs of the heart, lungs, and bone.

Healthcare Policies and Regulatory Landscape

The MOH establishes the criteria for all healthcare systems' medical device purchasing. The Department of Medical Equipment and Construction (DMEC) of the Ministry of Health (MOH) is responsible for overseeing medical devices, granting import licenses, issuing registration numbers for medical equipment (Class C and D), providing Certificates of Free Sales, and validating advertisement material. The Ministry of Science and Technology (MOST) regulates medical devices manufactured in the country. Regulations on the administration and utilization of fees and taxes linked to medical equipment are issued by the Ministry of Finance. The Ministry of Industry and Trade (MOIT) is in charge of issuing import/export rules.

1. Executive Summary
1.1 Digital Health Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Digital Health Policy in Country
1.6 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

Artificial Intelligence (AI) in Diagnostics Market Segmentation

By Component Outlook Type (Revenue, USD Billion):
- Software
- Hardware
- Services

By Diagnosis Outlook Type (Revenue, USD Billion):
- Cardiology
- Oncology
- Pathology
- Radiology
- Chest and Lung
- Neurology
- Others

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.