Vietnam Contraceptive Devices Market is expected to witness growth from $65 Mn in 2022 to $121 Mn in 2030 with a CAGR of 8.23% for the forecasted year 2022-30. Over 98 million people currently live in Vietnam, and it is anticipated that this number will rise over the next few years. As more people try to plan their families, this means that the demand for contraceptive devices will rise. The market is segmented by type and by gender. Some key players in this market include USM Healthcare, Omron Healthcare Vietnam, Mylan Laboratories, Mankind Pharma, CooperSurgical, Pfizer, and Teva Pharmaceutical.
Vietnam Contraceptive Devices Market is expected to witness growth from $65 Mn in 2022 to $121 Mn in 2030 with a CAGR of 8.23% for the forecasted year 2022-30. Healthcare spending in Vietnam climbed substantially, from $25.25 billion in 2021 to $23.58 billion in 2023. $29.62 billion is projected for 2025, and $338 billion for 2030. Vietnam spent about $185 per person in current health expenses in 2022. Continuous healthcare costs made up 5.37% of the nation's GDP in 2022.
Vietnam's maternal mortality ratio would be 49 deaths for every 100,000 live births in 2021. Female sex workers in Hanoi had a 7.4% infection rate for Chlamydia trachomatis. In order to avoid unexpected pregnancies, contraceptive methods either stop fertilisation or hinder the implantation of a fertilised egg. Contraceptive methods are commonly utilised in Vietnam, and both public and private healthcare institutions offer them. Contraceptive methods are an efficient approach to avoid unexpected pregnancies and give people and couples the ability to schedule and space out their children's births. By avoiding unplanned pregnancies, unsafe abortions, and other problems with reproductive health, access to modern contraception, especially contraceptive devices, can help lower the risk of maternal mortality and morbidity. When a woman is at high risk for poor maternal and child health outcomes or is too young or old to safely become pregnant, contraceptive devices can help avoid unwanted births. By enabling women to pursue chances in school, employment, and other areas, contemporary contraception—including contraceptive devices—can boost their economic opportunities.
Market Growth Drivers
Over 98 million people currently live in Vietnam, and it is anticipated that this number will rise over the next few years. As more people try to plan their families, this means that the demand for contraceptive devices will rise. In Vietnam, people are becoming more and more aware of the advantages of family planning and the usage of contraceptives. The government and numerous non-governmental organisations have worked hard to promote family planning and reproductive health, which is why this has happened. With more and more people relocating to metropolitan areas, Vietnam is rapidly urbanising. People in urban regions are more likely to utilise contraceptive devices because they have better access to healthcare and higher levels of education.
In Vietnam, the lack of knowledge and instruction among the populace, particularly in rural areas, regarding the significance of family planning and the various kinds of contraceptive devices available, is one of the biggest issues manufacturers face. As a result, the market may experience slower growth and less demand for certain goods. Modern contraceptive methods may not be widely used in Vietnam due to cultural and religious restrictions. For instance, some individuals could think that using contraceptives is unethical or immoral. Many Vietnamese people, especially those who live in poverty, may find the expense of contraceptive methods to be a significant obstacle to access. Further restricting access, these gadgets may not be widely distributed or readily available in remote areas.
The National Medical Device Management Authority (NMDMA) and the Ministry of Health (MOH) are in charge of Vietnam's regulatory framework for contraceptive devices. The NMDMA is in charge of implementing these guidelines as well as issuing device licences and certifications. The MOH is responsible for delivering rules and regulations pertaining to the importation, production, and sale of contraceptive devices. To sell contraceptive devices in Vietnam, manufacturers must receive a licence from the NMDMA. Manufacturers must adhere to stringent regulatory criteria pertaining to quality control, safety, and efficacy, and the licencing procedure can be difficult and time-consuming. laws governing contraceptive 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)
184.108.40.206 Product Applications and Services
220.127.116.11 Recent Developments
18.104.22.168 Partnerships Ecosystem
22.214.171.124 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
By Type (Revenue, USD Billion):
A condom is a sheath-shaped barrier device used during sexual intercourse to reduce the probability of pregnancy or a sexually transmitted infection (STI). There are both male and female condoms. With proper use, women whose partners use male condoms experience a 2% per-year pregnancy rate. Their use greatly decreases the risk of gonorrhea, chlamydia, trichomoniasis, hepatitis B, and HIV/AIDS, per the World Health Organization Updates in November 2020. To a lesser extent, they also protect against genital herpes, human papillomavirus (HPV), and syphilis. Hence, the other reasons that aid the growth of the contraception devices market are the rising occurrence of STDs and the substantial increase in the population
By Gender (Revenue, USD Billion):
Based on Gender the contraceptive devices market is segmented into male and female.
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