Vietnam's Artificial Intelligence (AI) in the diagnostics market is projected to grow from $5.0 Mn in 2022 to $xx Mn by 2030, registering a CAGR of xx% during the forecast period of 2022-30. The market will be driven by the rising incidence of chronic diseases and expanded investments in the AI Diagnostic industry. The market is segmented by component & by diagnosis. Some of the major players include IBM Watson Health, Siemens Healthineers & Genetica.
The Vietnam Artificial Intelligence (AI) in the diagnostics market is projected to grow from $5.0 Mn in 2022 to $xx Mn by 2030, registering a CAGR of xx% during the forecast period of 2022 - 2030. According to the International Monetary Fund's (IMF) Global Economic Outlook, Vietnam's GDP in 2021 was around US$368 billion, ranking it sixth in Southeast Asia and 41st in the world. According to the EvoHealth White Report on ASCVD in Vietnam, there were 2.4 Mn patients with cardiovascular illnesses in 2019, with atherosclerosis accounting for 65% of the cases. It is also the primary cause of mortality, with a significant prevalence of ischemic heart disease and stroke.
The use of Artificial Intelligence (AI) in diagnostics is still in its early stages in Vietnam, although there is significant interest and investment in this field. The Vietnamese government has identified the potential benefits of AI in healthcare and has set a target of being a regional leader in AI applications by 2030. Numerous local and foreign firms are now developing AI-based diagnostic solutions in Vietnam, with the goal of enhancing disease detection and diagnosis quickly and accurately. Radiology, pathology, and cardiology are some of the fields where AI is being used in diagnoses. Genetica, a Vietnamese company, is developing an AI-powered platform that can analyze genetic data and assist in the diagnosis of rare diseases.
Market Growth Drivers
Vietnam's aging population and non-communicable diseases such as diabetes, cardiovascular disease, and cancer are becoming more prevalent. The Vietnamese government recognizes healthcare as a critical source of economic development and has expanded its investment in the industry. Advances in technology, a shortage of medical experts, and initiatives to digitize healthcare data and enhance the availability of healthcare through telemedicine are projected to accelerate the expansion and acceptance of AI-based diagnostic tools in Vietnam in the future years.
Market Restraints
One of the barriers to the use of AI in diagnostics in Vietnam is the scarcity of data, as electronic health records (EHRs) are not yet commonly used. As a result, the development of AI systems and algorithms that rely on enormous volumes of data to be taught has been hampered. Another challenge that may hinder the deployment of AI technology in Vietnam is the lack of regulatory frameworks to oversee the development and use of AI in diagnostics.
Key Players
January 2023, VinBrain, an AI healthcare software startup, engaged in a legal agreement with Microsoft to use its suite of AI-powered pathology solutions capable of detecting 21 disease signs of the heart, lungs, and bone.
The MOH establishes the criteria for all healthcare systems' medical device purchasing. The Department of Medical Equipment and Construction (DMEC) of the Ministry of Health (MOH) is responsible for overseeing medical devices, granting import licenses, issuing registration numbers for medical equipment (Class C and D), providing Certificates of Free Sales, and validating advertisement material. The Ministry of Science and Technology (MOST) regulates medical devices manufactured in the country. Regulations on the administration and utilization of fees and taxes linked to medical equipment are issued by the Ministry of Finance. The Ministry of Industry and Trade (MOIT) is in charge of issuing import/export rules.
1. Report Description of the Vietnam Artificial Intelligence (AI) in Diagnostics Market Segmentation
1.1 Research Scope and Assumption
1.2 Objective of the study
1.3 Research Methodology
1.4 Reason to buy the report
2. Vietnam Artificial Intelligence (AI) in Diagnostics Market Segmentation Executive Summary
2.1 Vietnam Artificial Intelligence (AI) in Diagnostics Market Segmentation –Industry Snapshot & key buying criteria, 2022-2030
2.2 Market Size, Growth Prospects, and Key findings
3. Market Dynamics of Vietnam Artificial Intelligence (AI) in Diagnostics Market Segmentation
3.1 Market Growth Drivers Analysis
3.2 Market Restrains Analysis
4. Vietnam Artificial Intelligence (AI) in Diagnostics Market Segmentation Segmentation
4.1 By Component Outlook
4.1.1 Software
4.1.2 Hardware
4.1.3 Services
4.2 By Diagnosis Outlook
4.2.1 Cardiology
4.2.2 Oncology
4.2.3 Pathology
4.2.4 Radiology
4.2.5 Chest and Lung
4.2.6 Neurology
4.2.7 Others
5. Vietnam Artificial Intelligence (AI) in Diagnostics Market Segmentation Share
5.1 Market Analysis, Insights, and Forecast – By Revenue
6. Competitive Landscape
6.1 Major Top Market Players
7. Key Company Profiles
7.1 Company 1
7.1.1 Overview
7.1.2 Financial Performance
7.1.3 Product & Services
7.1.4 Strategic initiatives
7.2 Company 2
7.2.1 Overview
7.2.2 Financial Performance
7.2.3 Product & Services
7.2.4 Strategic initiatives
7.3 Company 3
7.3.1 Overview
7.3.2 Financial Performance
7.3.3 Product & Services
7.3.4 Strategic initiatives
7.4 Company 4
7.4.1 Overview
7.4.2 Financial Performance
7.4.3 Product & Services
7.4.4 Strategic initiatives
7.5 Company 5
7.5.1 Overview
7.5.2 Financial Performance
7.5.3 Product & Services
7.5.4 Strategic initiatives
8. Healthcare Policies and Regulatory Landscape
8.1 Healthcare Policies in Vietnam
8.2 Regulatory Framework in Vietnam
8.3 Pricing & Reimbursement Scenario in Vietnam Artificial Intelligence (AI) in Diagnostics Market Segmentation
9. Factors Driving Future Growth
9.1 New Trends and Development Vietnam Artificial Intelligence (AI) in Diagnostics Market Segmentation
9.2 Future Opportunities
10. Strategic Recommendations
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