Vietnam ECG Equipments Market Report 2022 to 2030

Vietnam ECG Equipments Market Analysis

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Vietnam ECG Equipment Market is expected to witness growth from $45 Mn in 2022 to $80 Mn in 2030 with a CAGR of 7.53% for the forecasted year 2022-30. The frequency of coronary artery disease is rising in Vietnam, where coronary heart disease and stroke are the primary causes of death. The demand for ECG equipment is anticipated to increase due to the increasing occurrence of CVDs. The market is segmented by product type and by the end user. Some key players in this market include CPT SUTURES, J&V Medical Instrument JSC, Johnson & Johnson, Philipps Healthcare, Medtronic and Dexcom.

ID: IN10VNMD008 CATEGORY: Medical Devices GEOGRAPHY: Vietnam AUTHOR: Jigyasu Bhandari

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Vietnam ECG Equipment Healthcare Market Executive Analysis

Vietnam ECG Equipment Market is expected to witness growth from $45 Mn in 2022 to $80 Mn in 2030 with a CAGR of 7.53% for the forecasted year 2022-30. Vietnam will spend $16.98 billion more on healthcare in 2023 than it did in 2019, or a difference of $23.2 billion. $23.3 billion is probably what will be produced in 2025, and $38 billion in 2036. Continuing healthcare costs in the nation consumed 5.37% of its GDP in 2022. In Vietnam, the average cost of healthcare has increased from $165 in 2020 to $180.72 as of today.

In Vietnam in 2022, CVDs were thought to be the cause of 30% of all fatalities. Ischemic heart disease (IHD) and stroke, which together accounted for 15% and 8% of all fatalities, were the most common CVDs. Acute myocardial infarction (AMI), also known as a heart attack, had an age-adjusted occurrence rate in Vietnam of 62.56 cases per 100,000 person-years in 2015 and 92.62 cases per 100,000 person-years in 2022. A variety of CVDs, such as coronary artery disease, arrhythmias, and heart failure, can be diagnosed using ECG technology. The existence of these conditions can be determined by abnormalities in the electrical activity of the heart, which can be found using ECG tests. ECG studies are typically regarded as affordable diagnostic methods for CVDs. The test itself is reasonably quick and affordable, and it can offer valuable diagnostic data that can influence treatment choices. Patients with known CVDs, such as those who have had a heart attack or who have a pacemaker installed, are also monitored using ECG equipment. Medical professionals can watch changes in a patient's heart function over time and modify treatment plans as necessary with the aid of routine ECG tests.

Vietnam ECG Equipment Market Analysis

Market Dynamics

Market Growth Drivers

The frequency of coronary artery disease is rising in Vietnam, where coronary heart disease and stroke are the primary causes of death. The demand for ECG equipment is anticipated to increase due to the increasing occurrence of CVDs. The Vietnamese government has been putting policies into place to aid in the growth of the healthcare industry, including actions to increase access to healthcare services and encourage the use of contemporary medical technology. Manufacturers of ECG equipment are anticipated to benefit from the supportive policy climate. In Vietnam, the senior citizen population is expanding, and more elderly people need healthcare services. It is anticipated that this demographic trend will raise demand for ECG equipment.

Market Restraints

With numerous domestic and foreign makers vying for market share, the Vietnam ECG equipment market is becoming more and more challenging. Manufacturers might need to set themselves apart by providing cutting-edge goods and services that cater to the specific requirements of the Vietnamese healthcare industry. Adoption of ECG technology may be hampered by cost, especially in smaller healthcare institutions with tighter budgets. A broader variety of healthcare providers may be able to afford and use the equipment if manufacturers use pricing strategies that make it more accessible and affordable.

Competitive Landscape

Key Players

CPT SUTURES (VT)
J&V Medical Instrument JSC (VT)
Johnson & Johnson
Medtronic
Philipps Healthcare
Dexcom

Recent Notable Deals

July 2022: To distribute VivaChek Laboratories' ECG products in Vietnam, Vietnamese medical equipment distributor VietMedical and the US-based business signed a distribution deal in July 2022. The collaboration will make premium ECG equipment more widely available throughout the whole country.

Healthcare Policies and Regulatory Landscape

The Ministry of Health (MOH) in Vietnam is in charge of overseeing ECG equipment. The specific rules on the management of medical equipment in Vietnam are outlined in Decree No. 36/2016/ND-CP, which also specifies the requirements for the registration, importation, and distribution of medical devices, including ECG equipment. The technical specifications for medical instruments, including ECG equipment, are outlined in Circular No. 30/2015/TT-BYT circular. The circular outlines the technical requirements ECG devices must satisfy in order to be authorised for use in Vietnam. Vietnamese medical products, such as ECG equipment, are classified according to guidelines in Circular No. 39/2018/TT-BYT. The circular outlines the standards for categorising medical devices based on things like their intended use and patient danger.

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

ECG Equipment Market Segmentation

By Product Type (Revenue, USD Billion):

Holter Monitors
Resting ECG Machines
Stress ECG Machines
Event Monitoring Systems
ECG Management Systems
Cardiopulmonary Stress Testing Systems

By End User (Revenue, USD Billion):

Hospitals and Clinics
Diagnostic Centres
Ambulatory Services
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.

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The market is segmented by type and by the end user.

The Vietnam ECG Equipment Market is studied from 2022-2030.

CPT SUTURES, J&V Medical Instrument JSC, Johnson & Johnson, Philipps Healthcare, Medtronic and Dexcom are the major companies operating in the Vietnam ECG Equipment market.