|
Forecast
Period
|
2025-2029
|
|
Market
Size (2023)
|
USD
40.12 Million
|
|
Market
Size (2029)
|
USD
52.64 Million
|
|
CAGR
(2024-2029)
|
4.59%
|
|
Fastest
Growing Segment
|
Handheld
Instruments
|
|
Largest
Market
|
Southern
Region
|
Market Overview
Vietnam Minimally Invasive Surgical
Devices Market was valued at USD 40.12 million in 2023 and is anticipated to
project robust growth in the forecast period with a CAGR of 4.59% through 2029.
Minimally Invasive Surgical Devices (MISD) have gained substantial prominence
in the healthcare landscape of Vietnam in recent years. This innovative
approach to surgery has transformed the way medical procedures are performed,
offering numerous advantages over traditional surgical methods. The Vietnam
MISD market has experienced rapid growth, driven by several key factors. Among
these, technological advancements have been instrumental. Innovations in
high-definition imaging systems, robotic-assisted surgery, and precision
instruments have enhanced surgical precision, reduced complications, and
accelerated patient recovery. These advancements have been readily adopted by
healthcare professionals and patients alike, contributing to the market's
robust expansion, and increased awareness of the health benefits associated
with Minimally Invasive Surgical Devices are expected to positively influence
the global market growth.
Key Market Drivers
Technological
Advancements in MISD
Technological advancements in MISD have
substantially improved the precision and safety of surgical procedures.
High-definition imaging systems, such as laparoscopic cameras, provide surgeons
with a magnified view of the surgical area. This enhanced visibility allows for
more precise incisions and reduced damage to surrounding tissues. As a result,
patients experience less trauma during surgery, leading to quicker recoveries and
reduced post-operative complications. The introduction of robotic-assisted
surgery has been a game-changer. Robots, controlled by skilled surgeons, can
perform intricate tasks with unparalleled precision. They offer steady hands
and the ability to work in tight spaces with minimal invasiveness. Surgeons can
remotely control these devices, further reducing the risks associated with
human error and hand tremors. One of the primary advantages of MISD is the
minimal scarring it leaves behind. Smaller incisions mean less visible scarring
and reduced postoperative pain for patients. This aesthetic appeal is a
significant factor in the preference for MISD over traditional surgical
methods.
Advanced MISD techniques often result in
shorter hospital stays and faster recovery times. This is particularly
appealing to patients who want to return to their daily lives as quickly as
possible. The reduced downtime translates to lower healthcare costs and
increased patient satisfaction.
Growing
Awareness and Acceptance
The internet and easy access to medical
information have empowered patients to become more informed about their
healthcare choices. Patients are increasingly aware of the benefits of MISD,
such as shorter hospital stays, reduced pain, and quicker recovery. This
awareness drives them to seek out minimally invasive alternatives when
available. Medical practitioners are becoming more confident in performing MISD
procedures due to their effectiveness and improved outcomes. This confidence,
combined with positive patient experiences, has led to a greater adoption of
MISD techniques by healthcare professionals. Patients who undergo successful
MISD procedures often become advocates for these techniques. They share their
positive experiences with friends and family, further increasing awareness and
acceptance within the community. This word-of-mouth marketing has a significant
impact on driving demand.
Government
Initiatives and Healthcare Reforms
Government initiatives aimed at
improving healthcare infrastructure have led to the establishment of modern
medical facilities equipped with state-of-the-art MISD equipment. This
infrastructure attracts both domestic and foreign investment, creating a
conducive environment for market growth. Government support extends to regulatory
reforms that encourage the adoption of advanced medical technologies, including
MISD. Favorable regulations streamline the approval process for these devices,
making them more readily available to healthcare providers and patients. Efforts
to make healthcare more accessible, especially in rural areas, have increased
the reach of MISD procedures. This ensures that a broader segment of the
population can benefit from these advanced surgical techniques, further driving
market demand.
Rising
Burden of Chronic Diseases
Vietnam, like many countries, is
witnessing a rise in chronic diseases, including cardiovascular diseases,
diabetes, and various types of cancer. These conditions often require surgical
interventions. The increasing prevalence of such diseases naturally drives up
the demand for advanced surgical devices, including MISD. As the population
ages, the burden of chronic diseases intensifies. Elderly individuals often
require surgical treatment for age-related health issues. MISD procedures, with
their reduced invasiveness and shorter recovery times, are particularly
beneficial for this demographic, further contributing to market growth.
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Key Market Challenges
Limited
Access to Advanced Healthcare Facilities
One of the significant challenges
slowing down the growth of the MISD market in Vietnam is the stark disparity in
healthcare infrastructure between urban and rural areas. While major cities
like Hanoi and Ho Chi Minh City have access to advanced medical facilities,
rural regions often lack the necessary infrastructure and trained medical
professionals to perform MISD procedures. Even in urban areas, the cost of MISD
procedures can be prohibitive for many Vietnamese citizens. Since MISD devices
are often more expensive than traditional surgical equipment, the financial
burden on patients can be substantial. This affordability issue limits the
market's growth, as many potential patients cannot access or afford these
advanced surgical techniques.
Limited
Training and Expertise
The successful execution of MISD
procedures requires specialized training for healthcare professionals. Surgeons
and medical staff need to be proficient in operating advanced devices and
techniques. However, there is a shortage of trained MISD specialists in
Vietnam, and comprehensive training programs are not widely available. Transitioning
from traditional surgical methods to MISD techniques can be challenging for
medical practitioners. There is a steep learning curve associated with
mastering these advanced technologies, and this can deter healthcare
professionals from adopting MISD procedures, further limiting their
availability.
Regulatory
and Reimbursement Challenges
Navigating the regulatory landscape for
medical devices in Vietnam can be complex and time-consuming. Obtaining the
necessary approvals and certifications for new MISD devices can delay their
entry into the market. Stringent regulations may also discourage some
manufacturers from introducing their products in Vietnam. Health insurance
coverage for MISD procedures is limited in Vietnam. Patients often have to pay
for these surgeries out of pocket, which can be a significant financial burden.
The lack of comprehensive insurance coverage for MISD limits the potential
patient pool and, subsequently, the growth of the market.
Key Market Trends
Increasing
Demand for Personalized Supplement
One of the major trends in the Vietnam
MISD market is the increasing adoption of robotic-assisted surgery systems.
These sophisticated robotic platforms, such as the da Vinci Surgical System,
offer unparalleled precision, dexterity, and control during surgery. Surgeons
can perform complex procedures with minimally invasive techniques, resulting in
reduced trauma to patients' bodies.
Robotic-assisted surgery is no longer
limited to a few specialties; it is expanding across various medical fields.
Initially used primarily in urology and gynecology, these systems are now
employed in areas like general surgery, cardiovascular surgery, and orthopedics.
This broadening of applications is driving the demand for MISD devices in
Vietnam. As the adoption of robotic-assisted surgery grows, so does the need
for skilled operators. To meet this demand, training programs for surgeons and
medical staff have become more comprehensive and widely available. This trend
ensures that more healthcare professionals can proficiently use robotic
systems, further promoting their integration into healthcare practices.
Telemedicine
and Remote Surgery
Telemedicine has gained prominence in
Vietnam, especially in the wake of the COVID-19 pandemic. Surgeons can now
remotely consult with patients and colleagues, enabling them to assess cases,
plan surgeries, and provide post-operative care without the need for physical
presence. This trend has made MISD expertise more accessible, even in remote
areas. Advancements in telemedicine have also paved the way for remote surgery
or telesurgery. Surgeons can operate on patients in distant locations using
robotic-assisted systems and high-speed internet connections. While this
practice is still relatively new, it has the potential to expand access to
advanced surgical care in Vietnam, particularly in underserved regions.
Miniaturization
of Surgical Instruments
Another notable trend in the Vietnam
MISD market is the miniaturization of surgical instruments and endoscopic
equipment. Smaller, more precise instruments allow surgeons to access tight
spaces within the body with minimal invasiveness. This trend reduces the size
of incisions required for surgery, resulting in even fewer post-operative
complications and quicker recoveries for patients.
Advancements in miniaturization have
also led to innovations like single-port surgery, where multiple instruments
are inserted through a single incision or natural body orifice. This approach
minimizes scarring and discomfort for patients, making MISD even more
appealing. Miniaturized instruments are particularly beneficial in pediatric
surgery, where smaller anatomy requires precision and delicate handling. The
trend towards miniaturization is expanding the use of MISD in pediatric cases,
ensuring that even the youngest patients can benefit from minimally invasive
techniques.
Segmental Insights
Type Insights
Based on the category of Type, the
handheld instruments segment emerged as the dominant player in the Vietnam
market for Minimally Invasive Surgical Devices in 2023. Handheld instruments
play a dominant role in the Vietnam Minimally Invasive Surgical Devices Market
due to their versatility, ease of use, and suitability for a wide range of
applications.
Handheld Minimally Invasive Surgical
Devices, such as angle grinders, circular saws, and jigsaws, are versatile
tools that can be adapted to various industries and applications. They are used
in woodworking, metalworking, construction, automotive, and even DIY projects.
Handheld instruments can cut various
materials, including wood, metal, plastic, and concrete. This adaptability
makes them essential tools in multiple sectors. Handheld tools are
user-friendly and require minimal training, making them accessible to a broad
range of professionals and even hobbyists. They are cost-effective compared to
specialized machines, making them accessible to small and medium-sized
businesses. Handheld Minimally Invasive Surgical Devices are portable and easy
to maneuver, allowing operators to work in tight spaces and remote locations.
They offer mobility that stationary machines cannot match.
In industries like
construction and remodeling, workers need tools that can be taken to job sites.
Handheld instruments provide the flexibility to work on-site. Handheld tools
can access areas that are challenging for larger machines, such as cutting in
corners or overhead. The ability to move around and adapt to different angles
and positions improves productivity. Handheld Minimally Invasive Surgical
Devices are typically more affordable than larger, stationary machines. They
are readily available in the market, making them accessible to a wide range of
businesses and individuals.
Businesses, particularly small and
medium-sized enterprises (SMEs), find it cost-effective to invest in handheld
instruments. When parts or entire tools need replacement or repair, it is often
more economical for operators to replace handheld instruments than larger
machines. The availability and affordability of handheld instruments have also
made them popular in the do-it-yourself (DIY) market. These factors are
expected to drive the growth of this segment.
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Regional Insights
The dominant region in the Vietnam Minimally
Invasive Surgical Devices Market is the Southern Region, primarily centered
around Ho Chi Minh City and its surrounding areas. The Southern Region of
Vietnam is the country's economic and industrial hub. It hosts a significant
portion of the nation's manufacturing and industrial activities, including
automotive, electronics, and machinery production. These industries rely
heavily on Minimally Invasive Surgical Devices for various processes, driving
demand in the region. The Southern Region has well-developed ports and
logistics infrastructure, making it an ideal entry point for imported raw
materials and Minimally Invasive Surgical Devices. This accessibility enhances
supply chain efficiency, benefiting manufacturers and businesses in the region.
Ho Chi Minh City, in particular,
attracts a skilled workforce, including engineers and technicians, who are
essential for the manufacturing and maintenance of Minimally Invasive Surgical
Devices. This availability of skilled labor supports the growth of the Minimally
Invasive Surgical Devices industry. The region's robust industrial and
manufacturing sectors generate consistent demand for Minimally Invasive
Surgical Devices. Additionally, the presence of a large customer base,
including businesses, hospitals, and clinics, contributes to sustained market
dominance.
Recent Developments
- In February 2024, In a notable development for medical technology and patient care in northern Vietnam, Hanoi French Hospital has procured the KINEVO 900, the most recent state-of-the-art surgical microscope system manufactured by Carl Zeiss. The integration of this surgical microscope system into the hospital's operations is anticipated to offer various advantages to patients. These benefits include expanded surgical capabilities, decreased surgery durations, lowered risks of infections and complications, and expedited recovery times.
Key Market Players
- Medtronic Vietnam Co., Ltd.
- Johnson & Johnson Vietnam
- Fujifilm Vietnam Co, Ltd.
- B.Braun Vietnam Co., Ltd.
- Olympus Vietnam Co.,Ltd.
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
- KARL STORZ SE & Co. KG
- SUN TECHNOLOGY JSC. (SUNTECH)
- Stryker Vietnam
- Smith & Nephew Plc
|
By Type
|
By Application
|
By Region
|
- Handheld Instruments
- Surgical Scopes
- Minimally Invasive
Surgical Devices
- Guiding Devices
- Electrosurgical
Devices
- Others
|
- Hospitals &
Clinics
- Ambulatory Care
Centers
- Others
|
- Northern Vietnam
- Central Vietnam
- Southern Vietnam
|
Report Scope:
In this report, the Vietnam Minimally Invasive
Surgical Devices Market has been segmented into the following categories, in
addition to the industry trends which have also been detailed below:
- Vietnam Minimally Invasive Surgical
Devices Market, By
Type:
o Handheld Instruments
o Surgical Scopes
o Minimally Invasive Surgical Devices
o Guiding Devices
o Electrosurgical Devices
o Others
- Vietnam Minimally Invasive Surgical
Devices Market, By
End-User:
o Hospitals & Clinics
o Ambulatory Care Centers
o Others
- Vietnam Minimally Invasive Surgical
Devices Market, By Region:
o Northern Vietnam
o Central Vietnam
o Southern Vietnam
Competitive Landscape
Company Profiles: Detailed analysis of the major companies
present in the Vietnam Minimally Invasive Surgical Devices Market.
Available Customizations:
Vietnam Minimally Invasive Surgical Devices market
report with the given market data, Tech Sci Research offers customizations
according to a company's specific needs. The following customization options
are available for the report:
Company Information
- Detailed analysis and
profiling of additional market players (up to five).
Vietnam Minimally Invasive Surgical Devices Market
is an upcoming report to be released soon. If you wish an early delivery of
this report or want to confirm the date of release, please contact us at [email protected]