Vietnam Biobanks Market Report 2023 to 2030

Vietnam Biobanks Market Analysis

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The Vietnam Biobanks Market was valued at $383.70 Mn in 2023 and is predicted to grow at a CAGR of 9.03% from 2023 to 2030, to $702.77 Mn by 2030. The key drivers of this industry include a focus on precision medicine and genetic testing, increasing disease burden, and national genome projects. The industry is primarily dominated by players such as Thermo Fisher Scientific, Merck KGaA, QIAGEN, and Tecan Group among others.

ID: IN10VNHS058 CATEGORY: Healthcare Services GEOGRAPHY: Vietnam AUTHOR: Aashwi Mehta

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Vietnam Biobanks Market Executive Summary

The Vietnam Biobanks Market was valued at $383.70 Mn in 2023 and is predicted to grow at a CAGR of 9.03% from 2023 to 2030, to $702.77 Mn by 2030.

A biobank is a carefully curated collection of primarily human biological samples and associated data, systematically organized for research purposes. These facilities are pivotal in medical research, aiding diverse studies such as genomics and personalized medicine. Each biobank collects samples and data tailored to its specific research goals. For example, some focus on diseases like cancer, while others gather samples and data from specific demographics or geographic regions.

The 1000 Vietnamese Genomes Project involves genetic data from over 1,000 individuals, aiming to build a comprehensive genetic resource for future research. This project includes data from 1,008 individuals and covers nearly 30 Mn single nucleotide polymorphisms (SNPs). Following quality control measures, around 1 Mn SNPs were retained for analysis, providing a significant dataset for genomic research in Vietnam. The market is driven by significant factors like a focus on precision medicine and genetic testing, increasing disease burden, and national genome projects. However, economic constraints, data privacy issues, and limited public awareness restrict the growth and potential of the market.

Prominent players in this field include Thermo Fisher Scientific, Merck KGaA, QIAGEN, and Tecan Group among others.

Vietnam Biobanks Market Report 2023 to 2030

Market Dynamics

Market Growth Drivers

Focus on Precision Medicine and Genetic Testing: The need to gather and store biological samples for research on genetic diseases and personalized treatments fuels the demand for biobanks. This drives the biobank market in Vietnam by emphasizing the importance of extensive sample collections to support advancements in genetic research and tailored healthcare solutions.

Increasing Disease Burden: The high prevalence of non-communicable diseases (NCDs) in Vietnam, including cardiovascular disease, cancer, diabetes, hypertension, and chronic obstructive pulmonary disease, accounts for 72% of mortality and 66% of the disease burden. This significant impact drives the biobank market by creating a strong need for comprehensive research and data collection to better understand and address these widespread conditions.

National Genome Projects: Projects such as the 1000 Vietnamese Genomes Project generate extensive genetic datasets, which increases the demand for biobanks to effectively store and manage this valuable information. This drives the biobank market in Vietnam by emphasizing the need for a robust infrastructure to handle large volumes of genetic data for ongoing research and analysis.

Market Restraints

Economic Constraints: The high initial costs needed to set up biobanking facilities pose a significant financial barrier. This challenge can discourage new market entrants and make it difficult for smaller or emerging companies to compete effectively in Vietnam's biobank sector.

Data Privacy Issues: Maintaining the security and confidentiality of genetic data is essential. Fears about data privacy and possible breaches can undermine public trust and lead to decreased participation, which acts as a restraint on the biobank market in Vietnam.

Limited Public Awareness: A lack of awareness about the benefits and significance of biobanks among the public can result in lower participation rates and fewer sample donations. This limited understanding acts as a market restraint for the biobank sector in Vietnam by hindering the collection of vital biological samples.

Regulatory Landscape and Reimbursement Scenario

The Ministry of Health (MOH) and the National Ethics Committee for Health Research (NECHR) have established ethical guidelines for biomedical research, including biobanking. These guidelines cover aspects such as informed consent, data privacy, and sample management. Additionally, Decree No. 13/2023/ND-CP, which came into effect on July 1, 2023, emphasizes the protection of personal data, an essential consideration for biobanks dealing with sensitive health information.

Competitive Landscape

Key Players

Here are some of the major key players in the Vietnam Biobanks Market:

Thermo Fisher Scientific
Merck KGaA
QIAGEN
Tecan Group
Becton, Dickinson and Company
Beckman Coulter
Cryoviva Vietnam
Promega Corporation
Hamilton Company
Greiner Bio-One

1. Executive Summary
1.1 Service Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Healthcare Services Market 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 Services
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Vietnam Biobanks Market Segmentation

By Product and Service

Equipment
Consumables
Services

By Sample Type

Blood Products
Human Tissues
Nucleic Acids
Others

By Application

Regenerative Medicine
Life Science Research
Clinical Research
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.