Vietnam Neurology Devices Market Analysis

Vietnam Neurology Devices Market Analysis

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Vietnam Neurology Device Market is expected to witness growth from $63 Mn in 2022 to $xx Bn in 2030 with a CAGR of xx% for the forecasted year 2022-30. The Neurology devices market in Vietnam is being driven by the increase in neurological disorders like epilepsy, Parkinson's disease, and Alzheimer's disease. The market is segmented by product type and by the end user. Some key players in this market include Medtronic, Johnson and Johnson, GE Healthcare, Stryker, Abbott laboratories and Philips Healthcare.

ID: IN10VNMD012 CATEGORY: Medical Devices GEOGRAPHY: Vietnam AUTHOR: Jigyasu Bhandari

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Vietnam Neurology Devices Market Executive Analysis

Vietnam Neurology Device Market is expected to witness growth from $63 Mn in 2022 to $xx Bn in 2030 with a CAGR of xx% for the forecasted year 2022-30. From $16.1 Bn in 2017 to $20 Bn in 2021, healthcare expenditure in Vietnam increased steadily. It is expected to reach $23.3 Bn in 2025 and $33.8 Bn in 2030. Vietnam's per-capita current health spending in 2022 was roughly $185. In 2022, continuing healthcare expenses accounted for 5.37% of the country's GDP.

In Vietnam, stroke is the main source of death and disability, responsible for 14% of all fatalities and 7% of all diseases. In Vietnam, the frequency of strokes rose from 1.6% in 2017 to 2.8% in 2021. Vietnam has an epilepsy incidence of 5.1 per 1,000 people. 3.1% of the population in Vietnam had dementia, which is less than the stated prevalence rates in developed nations. In Vietnam, 20% of the population suffers from migraines. Neurology devices used for the rehabilitation of neurological illnesses include neuroprosthetic devices for people with paralysis or amputations. Among the neurology devices used in the study are Magnetic Resonance Imaging (MRI) devices. These devices examine the anatomy and function of the brain. The majority of patients who use sacral nerve stimulation devices are those who are not responding to pharmaceutical treatment or other types of medication. The treatment is performed using a tiny device that can deliver electrical impulses to the targeted sacral nerves in the lower back.

Vietnam Neurology Device Market Analysis

Market Dynamics

Market Growth Drivers

The Neurology devices market in Vietnam is being driven by the increase in neurological disorders like epilepsy, Parkinson's disease, and Alzheimer's disease. The prevalence of these disorders is predicted to rise as the population ages, providing chances for manufacturers to create new products and increase their market share. The Vietnam government is making investments in the country's healthcare facilities, such as the construction of hospitals and clinics, which is anticipated to increase demand for neurology devices. In addition, the government is providing incentives to draw in foreign investment, which might make it simpler for manufacturers to join the market. Innovation in the field of neurology devices is being sparked by technological advancements, leading to the production of brand-new and improved products. The need for neurology equipment in Vietnam is anticipated to increase as a result of healthcare professionals' wish to provide patients with the most advanced and effective treatments.

Market Restraints

The governing environment in Vietnam can be difficult for businesses that manufacture neurology devices. The launch of new devices can be slowed down by lengthy approval procedures and stringent quality control standards. Patients may be required to pay out of pocket for neurology therapies and devices in Vietnam due to the country's restrictive reimbursement policies. This may make it difficult for some people to get the care they need, particularly those who are financially strapped.

Competitive Landscape

Key Players

  • Medtronic
  • Abbott Laboratories
  • Johnson & Johnson
  • Boston Scientific
  • Nihon Kohden
  • GE Healthcare
  • Stryker

Notable Recent Deals

February 2022: The Vietnam National Hospital of Neurology & Pediatrics and the Korean business Healcerion entered into a collaboration deal in 2022 to create neurology devices for neurological examinations.

Healthcare Policies and Regulatory Landscape

The Vietnam government has strict regulations governing the healthcare industry, especially the neurology device industry. Particularly, imported neurology devices must adhere to rules and authorization specifications managed by the Ministry of Health (MOH). To be qualified to sell neurology devices in the Vietnamese market, foreign businesses must register as a legitimate business entities in Vietnam and acquire an import licence, in accordance with the MOH's policies. Foreign businesses typically distribute their goods through local distributors or agents to satisfy this requirement. Decree 36, released by the Vietnamese government, mandates that all neurology devices imported into the country apply for Marketing Authorization (MA) licences. An application for a marketing authorization licence is made by a foreign manufacturer looking for the host nation's consent to sell a neurology device.

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 Overview Product Applications and Services Recent Developments Partnerships Ecosystem 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

Neurology Device Market Segmentation

The Neurology Device Market is segmented as mentioned below:

By Product Type (Revenue, USD Billion):

  • Neurostimulation
  • ?Spinal Cord Stimulation Devices
  • Deep Brain Stimulation Devices
  • Sacral Nerve Stimulation
  • Vagus Nerve Stimulation
  • Gastric Electric Stimulation
  • Interventional Neurology
    • Aneurysm Coiling & Embolization
    • Embolic Coils
    • Flow Diversion Devices
    • Liquid Embolic Agents
    • Cerebral Balloon Angioplasty & Stenting
    • Carotid Artery Stents
    • Filter Devices
    • Balloon Occlusion Devices
    • Neurothrombectomy
    • Clot Retriever
    • Suction Aspiration Devices
    • Snares
  • CSF Management
    • CSF Shunts
    • CSF Drainage
  • Neurosurgery Devices
    • Ultrasonic Aspirators
    • Stereotactic Systems
    • Neuroendoscopes
    • Aneurysm Clips

By End User (Revenue, USD Billion):

  • ??Hospitals and Clinics
  • Specialty Centres
  • Others

Insights10 will provide you with the reports within 10 key parameters which are:

  1. Market Overview
  2. Market Growth Drivers & Restraints
  3. Epidemiology of Disease Type
  4. Market Segmentation
  5. Market Share
  6. Competitive Landscape
  7. Key Company Profiles
  8. Healthcare Policies & Regulatory Framework
  9. Reimbursement Scenario
  10. Factors Driving Future Growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.


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The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and  Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.

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Last updated on: 20 November 2023

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