Increased occurrence of chronic diseases requiring a longer hospital stay and the growing number of surgical procedures are driving the demand for the Vietnam medical disposables market in the forecast period, 2023-2027.
According to TechSci Research report, “Vietnam Medical Disposables Market By Region, Competition Forecast & Opportunities, 2027”, the Vietnam medical disposables market is expected to register a steady CAGR in the forecast period, 2023-2027. Medical disposables refer to the products utilized in hospitals or in several medical fields for the prevention of infections and to meet medical standards. Medical disposables help minimize the risk of cross-contamination and infections, which is a primary goal of healthcare professionals. Medical disposables products include disposable medical catheters, isolation gowns, blood glucose test strips, procedure kits, conventional syringes, and wound care products. Medical disposable items are an important component of every hospital, and they have one-time usage and need to be disposed of after use.
The increasing utilization of medical disposables in surgery, drug, and fluid delivery, wound management, incontinence management, sterilization, diagnostic testing, patient examination, and minimizing patient discomfort. The rising need for safety and prevention from infections in numerous medical fields, including pediatric, surgical wear, hygiene, and anesthesia, will continue to propel the growth of the medical disposables market across Vietnam. The expanding geriatric population and rise in the incidence of incontinence problems are driving the market growth. Along with this, various mandatory guidelines that must be followed for patient safety and the massive demand for sophisticated healthcare facilities fuel the demand for medical disposables over the next five years.
However, the health insurance concerns and restricted coverage for various medical services are restraining factors for the market. Also, the increasing healthcare cost and presence of substitute products may hinder the growth of the Vietnam medical disposables market in the forecast period.
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The Vietnam medical disposables market is segmented into product, raw materials, end use, regional distribution, and competitive landscape.
Based on product, the market is segmented into disposable masks, hand sanitizers, wound management products, drug delivery products, diagnostic and laboratory, sterilization supplies, and others. Diagnostic and laboratory disposables are expected to grow at a higher rate in the forecast period, 2023-2027. It assists in preventing the possibility of cross-contamination in hospitals, laboratories, diagnostic centers, and other medical settings. They are particularly designed products for use in research & development activities as well as during the testing procedures. Additionally, these medical disposables products are single-use, and they help eradicate the reprocessing process and protect from infections, making them a preferable choice across medical settings. It is evaluated that the diagnostic and laboratory segments have shown remarkable growth owing to the growing number of diagnostics tests performed and ongoing research developments in the medical sector across the country.
Based on raw materials, the market is divided into plastic resin, nonwoven material, rubber, and others. Plastic resins are anticipated to hold the largest share in the forecast period, 2023-2027. Plastic resins are widely used to make numerous medical devices, including disposable syringes, medicine packaging materials, containers, and tubes for intravenous solutions. The high prevalence of hospital-acquired infections is accelerating the utilization of disposable items to prevent the spread of COVID-19, bolstering the market growth. The availability of various types of plastics with a range of properties, including Polyvinyl Chloride (PVC), Polypropylene (PP), low and high-density polyethylene, and polystyrene, have expanded the applications of plastics in the healthcare industry.
Based on end use, the market is divided into hospitals, home healthcare, outpatient/primary care facilities, and others. The hospital segment dominates at a significantly higher rate in the forecast period, 2023-2027. The elevating number of patient admissions in hospitals for surgeries and treatments for COVID-19 is propelling the market growth. According to the study, on average, more than 2000 tons of waste are generated by operating rooms per day, of which a significant portion of waste is from disposable medical supplies. Such a tremendous number of medical disposables usage in the hospitals is expected to propel the segment growth in the upcoming years.
Key market players operating in Vietnam medical disposables market are:
- Sterimed Medical Devices Pvt. Ltd
- Getz Healthcare (Vietnam)
- 3M Vietnam Limited
- BD Vietnam Co. Ltd
- Medline Industries Vietnam
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“The launch of new value-added, premium-quality safety products is the emerging trend in the medical disposables market across Vietnam. The increasing prevalence of chronic conditions is the major propelling factor for the Vietnam medical disposables market. The increasing aging population has higher chances of acquiring infections. Also, the elevating home healthcare sector offers a lucrative growth opportunity to the market players in Vietnam. Moreover, the growing adoption of bioplastics in the healthcare field to curb environmental footprint augments the production of biodegradable medical disposables and supplies, which in turn is projected to boost the Vietnam medical disposables market growth till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Vietnam Medical Disposables Market By Product (Disposable Masks, Hand Sanitizers, Wound Management Products, Drug Delivery Products, Diagnostic and Laboratory, Sterilization Supplies, Others), By Raw Material (Plastic Resin, Nonwoven Material, Rubber, Others), By End Use (Hospitals, Home Healthcare, Outpatient/Primary Care Facilities, Others), By Region, Competition Forecast & Opportunities, 2027”, has evaluated the future growth of Vietnam medical disposables market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging market trends along with significant drivers, challenges, and opportunities in Vietnam medical disposables market.
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