Vietnam Biomaterials in Healthcare Market Analysis Report [2022-30] I Insights10

Vietnam Biomaterials in Healthcare Market Analysis

$ 3999

The Vietnam Biomaterials in Healthcare Market is expected to witness growth from $781 Mn in 2022 to $2141 Mn in 2030 with a CAGR of 13.43% for the forecasted year 2022-2030. The demand for biomaterials in Vietnam is being driven by the rising prevalence of diseases like periodontal disease, tooth decay, oral cancer, halitosis, and dental caries, which is anticipated to spur development in the country's biomaterial healthcare market. The market is segmented by type and by application. Some key players in this market include: CPT SUTURES, J&V Medical Instrument JSC, HCMC Medical Technical Service, BASF SE, Johnson and Johnson, Medtronic and Evonik Industries.

ID: IN10VNMD003 CATEGORY: Medical Devices GEOGRAPHY: Vietnam AUTHOR: Jigyasu Bhandari

Buy Now

Vietnam Biomaterials in Healthcare Market Executive Analysis

The Vietnam Biomaterials in Healthcare Market size is at around $781 Mn in 2022 and is projected to reach $2141 Mn in 2030, exhibiting a CAGR of 13.43% during the forecast period. From $16.1 Bn in 2017 to $20 Bn in 2021, Vietnam's healthcare expenditure increased steadily. In 2025, $23.3 Bn is anticipated, and $33.8 Bn in 2030. In 2022, Vietnam's current health costs were estimated to be $185 per person. In 2022, the country's GDP was 5.37 % accounted for by ongoing healthcare expenses. Healthcare costs in Vietnam are presently $180.72 per person, up from $165 in 2020.

To encourage tissue regeneration and stop infection, biomaterials can be used in wound healing uses. Additionally, they can be used to make bandages and dressings that facilitate recovery and lessen scarring. To create implants and prostheses for joint replacement operations, bone repair, and reconstruction, orthopaedics uses biomaterials. These materials are an excellent option for treating fractures and other bone-related injuries because they can be created to imitate the characteristics of natural bone and encourage bone growth. Scaffolds that support the growth and regeneration of different kinds of tissue, such as skin, cartilage, and bone, can be made using biomaterials. With the aid of this technology, damaged body tissue can be repaired or fresh tissue can be grown for transplantation.

Dental implants, orthodontic tools, and other surgical instruments are made from biomaterials. These substances can be made to be biocompatible, which means they are secure and suitable for use with the body's organic cells. By offering more dependable and efficient treatments for a variety of medical conditions, biomaterials can contribute to better patient outcomes. By encouraging quicker healing and lowering the chance of complications, biomaterials can shorten the length of the rehabilitation process. Because they can eliminate the need for more invasive surgeries and other forms of therapy, biomaterials can be a cost-effective way to treat medical conditions.

vietnam biomaterials in healthcare market

Market Dynamics

Market Growth Drivers

Vietnam's healthcare industry is seeing an increase in demand for biomaterials as their advantages become more well-known there. Biomaterials are being sought after by patients and medical professionals as a safe, efficient, and long-lasting treatment for a variety of medical problems. Over the past ten years, Vietnam has steadily increased its healthcare spending due to factors like an ageing population, an increase in the prevalence of chronic diseases, and a rise in the demand for high-quality medical treatment. This pattern is anticipated to persist, expanding the market for biomaterials and other medical supplies.

Market Restraints

In Vietnam, the cost of manufacturing biomaterials can be high, and producers may face competition from less costly substitutes, such as conventional materials or devices that have been in use in Vietnam for a long time. Because of this, it may be challenging to gain traction in the Vietnamese Biomaterials in Healthcare market and to earn enough money to fund ongoing R&D initiatives.

Competitive Landscape

Key Players

CPT SUTURES (VT)
J&V Medical Instrument JSC (VT)
HCMC Medical Technical Service (VT)
BASF SE
Johnson and Johnson
Medtronic
Evonik Industries

Notable Recent Deals

2021: To produce and sell regenerative medicine products in Vietnam, the Japanese company Hitachi Chemical Advanced Therapeutics Solutions and the Vietnamese biotech company Petrovietnam Biotechnology Joint Stock Company (PV Bio) signed a contract. The creation of biomaterials for use in regenerative medicine uses was covered by the agreement.

Healthcare Policies and Regulatory Landscape

The Department of Medical Equipment and Construction (DMEC) and the Ministry of Health (MOH) are in charge of Vietnam's biomaterials regulation framework. The DMEC issues licences and controls the production, importation, and distribution of medical equipment and supplies, whereas the MOH is in charge of establishing policies and regulations pertaining to medical devices and biomaterials. Prior to being registered in Vietnam, novel biomaterials and medical devices must undergo clinical studies to prove their efficacy and safety. The trials must adhere to Vietnamese laws governing the ethical treatment of human subjects. Manufacturers are required to carry out post-market surveillance to keep an eye on the security and effectiveness of their goods. Any negative events must be reported to the regulatory authorities, and they must take the necessary steps to address them. Biomaterials and medical device importers and exporters are required to abide by Department of Medical Equipment and Construction regulations and acquire all necessary permits and licences. The Department of Medical Equipment and Construction requires that product information, cautions, and usage instructions be included on the labelling and packaging of biomaterials and medical devices.

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

Biomaterials in Healthcare Market Segmentation

By Type (Revenue, USD Billion):

Based on type, the market is segmented into Metallic Biomaterials, Polymeric Biomaterials, Ceramic Biomaterials, and Natural Biomaterials. The Metallic Biomaterials segment accounted for the largest share of the Vietnam market in 2019. The growing geriatric population Vietnamly is expected to drive growth for this segment.

Metallic Biomaterials
- Stainless Steel
- Titanium & Titanium Alloys
- Cobalt-Chrome Alloys
- Gold
- Silver
- Magnesium
Polymeric Biomaterials
- Polymethylmethacrylate
- Polyethylene
- Polyester
- Silicone Rubber
- Nylon
- Polyetheretherketone
- Other Polymeric Biomaterials
Ceramics
- Calcium Phosphate
- Zirconia
- Aluminum Oxide
- Calcium Sulfate
- Carbon
- Glass
Natural Biomaterials
- Hyaluronic Acid
- Collagen
- Gelatin
- Fibrin
- Cellulose
- Chitin
- Alginates
- Silk

By Application (Revenue, USD Billion):

The cardiovascular, orthopaedic, dental, plastic surgery, wound healing, tissue engineering, ophthalmology, neurological/CNS, and other applications segments are made up of the biomaterials market. The market category for wound healing is anticipated to have the highest CAGR in 2019. The market will increase as a result of factors including expanding healthcare infrastructure, a large population pool, a rising diabetic population, and rising healthcare spending. Surgical Guides

Cardiovascular
- Catheters
- Stents
- Implantable Cardiac Defibrillators
- Pacemakers
- Sensors
- Heart Valves
- Vascular Grafts
- Guidewires
- Others
Orthopedic
- Joint Replacement
  - Knee Replacement
  - Hip Replacement
  - Shoulder Replacement
  - Others
- Viscosupplementation
- Bioresorbable Tissue Fixation
- Spine?
  - Spinal Fusion Surgeries
  - Minimally Invasive Fusion Surgeries
  - Motion Preservation & Dynamic Stabilization Surgeries
    - Pedicle-Based Rod Systems
    - Interspinous Spacers
    - Artificial Discs
- Fracture Fixation Devices
  - Bone Plates
  - Screws
  - Pins
  - Rods
  - Wires
- Synthetics Bone Grafts
Ophthalmology
- Contact Lenses
  - Intraocular Lenses
  - Functional Replacement of Ocular Tissues
  - Synthetic Corneas
  - Others
Dental
- Dental Implants
- Dental Bone Grafts & Substitutes
- Dental Membranes
- Tissue Regeneration
Plastic Surgery
- Soft-Tissue Fillers
- Craniofacial Surgery
Wound Healing
- Wound Closure Devices
  - Sutures
  - Staples
- Surgical Hemostats
- Internal Tissue Sealants
- Adhesion Barriers
- Hernia Meshes
Tissue Engineering
- Scaffolds for Regenerative Medicine
- Nanomaterials for Biosensing
- Tailoring of Inorganic Nanoparticles
  ?
Neurological/Central Nervous System Applications
- Shunting Systems
- Cortical Neural Prosthetics
- Hydrogel Scaffolds for CNS Repair
- Neural Stem Cell Encapsulation
  ?
Other Applications
- Drug Delivery Systems
- Gastrointestinal Applications
- Bariatric Surgery
- Urinary Applications

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.