Vietnam Diabetes Care Devices Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 424.10 Million |
| Market Size (2029) | USD 470.55 Million |
| CAGR (2024 - 2029) | 2.10 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Vietnam Diabetes Care Devices Market Analysis
The Vietnam Diabetes Care Devices Market size is estimated at USD 424.10 million in 2024, and is expected to reach USD 470.55 million by 2029, growing at a CAGR of 2.10% during the forecast period (2024-2029).
According to the Diabetes Atlas of the International Diabetes Federation, the number of individuals with diabetes is projected to reach 645 million by 2030 and 783 million by 2045. This disease predominantly impacts low- and middle-income countries, which often face limited resources.
Vietnam, classified as a middle-income nation, is experiencing a significant increase in the prevalence of diabetes. Over the last two decades, the prevalence of diabetes has surged from 2.7% to 7.3% among individuals aged between 30 and 69 years, totaling approximately 5 million people in 2022, as indicated by Vietnam's National Hospital of Endocrinology. The cities of Hanoi and Ho Chi Minh City, the two largest cities in Vietnam, exhibit the highest prevalence of diabetes, affecting 8.3% of their populations.
Vietnam has a significant number of nearly four million adults suffering from diabetes, with over half of them, specifically 51.5%, not yet diagnosed. Additionally, around 39,500 children and teenagers under 20 years old are dealing with T1D in the developing markets of Asia. These statistics underscore the critical importance of raising awareness, early detection, availability of medications, and effective management strategies to address this persistent health issue by establishing healthcare systems that are both accessible and sustainable.
In May 2023, the Vietnam Pediatric Association (VPA) and Roche Diabetes Care Vietnam, represented by Roche Vietnam Company Limited (Roche), have entered into a cooperation agreement with the aim of improving healthcare access for disadvantaged children who are diagnosed with Type 1 diabetes in Vietnam. This collaboration is part of a larger global initiative called Changing Diabetes in Children (CDiC), which is jointly led by Novo Nordisk and Roche Diabetes Care, and involves various other international and local partners.
The primary objective of this public-private partnership program is to expand healthcare access and establish sustainable care systems in countries with limited resources. Additionally, it ensures the provision of life-saving insulin and diabetes management supplies to children and young individuals with Type 1 diabetes up to the age of 25.
Through this partnership, 2,600 underprivileged children with T1D in Vietnam, representing the entire population of children and young individuals with T1D in the country, will receive diabetes monitoring and management kits. This initiative aims to enhance the quality of care and support for these children, ensuring they have the necessary tools to manage their condition effectively.
Thus increasing diabetes population, and companies intatives in vietnam driving the diabetes devices market in forecast period.
Vietnam Diabetes Care Devices Market Trends
Management Devices Hold Highest Market Share in Vietnam Diabetes Care Devices Market
Health insurance was introduced in Vietnam over 10 years ago, but the coverage is still relatively low. Vietnam is a low- to middle-income country with a per-capita GDP of around USD 4310. As a result, the expense of diabetes treatment significantly strains a patient's family budget. Diabetes medicine is inexpensive in HCMC as compared to the expense of treating other chronic disorders, including infectious, cardiovascular, and renal problems.
The lack of government policies and healthcare schemes impacts Vietnam's market growth for management devices. The country's population of those over 60 years has created pressures on the healthcare system, as well as social security services and policies. Thus, the government needs to establish new policy programs that can reduce the burden of healthcare costs for diabetes treatment.
Digital companies are trying to improve the conditions of diabetic patients by reminding them when to test their glucose levels and passing the information to doctors and family members. According to a study conducted by GlucoMe (digital diabetes platform), along with Merck, at several endocrinology clinics and hospitals in Vietnam, using GlucoMe applications reduced the risks of the major issues related to diabetes for Type 2 diabetic patients. The awareness among diabetic patients in Vietnam is expected to increase the growth of the market for management devices in the country during the forecast period.
Increasing Diabetes Population in Vietnam
Diabetes is one of the four major noncommunicable diseases (NCDs), and its global prevalence has steadily increased in recent years. In Vietnam, Diabetes is rising at a rate of about 6.23% every year, and it has become a serious health and economic burden for Vietnamese society. Economic growth and changes in the social environment impact disease patterns ranging from infectious illnesses to noncommunicable diseases, with diabetes being one of the seven top causes of death and disability in Vietnam.
The prevalence of obesity in Vietnam is still relatively low, although it has increased substantially during the past decade, particularly over the past 5 years. A major shift in dietary habits parallels the changes in obesity prevalence rates. Cigarette smoking is a major risk factor for diabetes in Vietnam. A recent meta-analysis suggests that cigarette smokers are 44%more likely to have diabetes than non-smokers. Although there is a high prevalence of cigarette smoking in Vietnamese men, this trend is decreasing.
Diabetes is recognized as a public health burden in Vietnam, and public health authorities have taken measures to reduce the burden-the diabetes burden in Vietnam results from several epidemiologic changes and drivers. Diabetes has the potential to reach epidemic proportions and, as a result, confer tremendous public health and economic burden in Vietnam. Although the prevalence of diabetes in rural areas is still relatively low, it is rising. In major cities, diabetes is as high as in other Western populations.
The increase in the diabetes prevalence rates correlates with changes in risk factors, such as adiposity and a Westernized dietary pattern. It is generally believed that diabetes is preventable through lifestyle changes that include healthy eating and consistent physical activity. Still, more research is needed to validate this premise for the Vietnamese community.
Vietnam Diabetes Care Devices Industry Overview
The new technologies in diabetes devices, like continuous glucose monitoring, increased the market for monitoring devices. The mergers and acquisitions between the players, like the acquisition of TypeZero Technologies by Dexcom, are paving the way for automated insulin delivery. The acquisition has sent Dexcom ahead on its way in the race to create an artificial pancreas system rather than merely offering a boost to the continuous glucose monitoring devices market.
Vietnam Diabetes Care Devices Market Leaders
Medtronic
Roche
NovoNordisk
Abbott
Dexcom
*Disclaimer: Major Players sorted in no particular order
Vietnam Diabetes Care Devices Market News
- May 2023: The VPA and Roche Diabetes Care Vietnam, represented by Roche Vietnam Company Limited, have partnered to improve healthcare access for disadvantaged children with Type 1 diabetes in Vietnam as part of the global initiative CDiC. Led by Novo Nordisk and Roche Diabetes Care, this program aims to expand healthcare access and provide insulin and supplies to children and young individuals with Type 1 diabetes up to age 25 in countries with limited resources.
- January 2022: With a grant of DKK 5 million from the Danish Ministry of Foreign Affairs, the project 'Gestational Diabetes in Vietnam' will, in close collaboration with local researchers and health care workers, investigate GDM in Vietnam's northern Thai Binh province. GDM is estimated to affect about one in five pregnant women in Vietnam, but little is known about how it is handled by pregnant women, families, and healthcare providers.
- March 2021: Abbott Vietnam has introduced the FreeStyle Libre system, the world's leading glucose monitoring technology, for people with diabetes in Việt Nam.
Vietnam Diabetes Care Devices Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Monitoring Devices
5.1.1 Self-monitoring Blood Glucose Devices
5.1.1.1 Glucometer Devices
5.1.1.2 Test Strips
5.1.1.3 Lancets
5.1.2 Continuous Blood Glucose Monitoring
5.1.2.1 Sensors
5.1.2.2 Durables
5.2 Management Devices
5.2.1 Insulin Pump
5.2.1.1 Insulin Pump Device
5.2.1.2 Insulin Pump Reservoir
5.2.1.3 Infusion Set
5.2.2 Insulin Syringes
5.2.3 Insulin Cartridges
5.2.4 Disposable Pens
6. MARKET INDICATORS
6.1 Type-1 Diabetes population
6.2 Type-2 Diabetes population
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Becton and Dickenson
7.1.2 Medtronic
7.1.3 Insulet
7.1.4 Tandem
7.1.5 Ypsomed
7.1.6 Novo Nordisk
7.1.7 Sanofi
7.1.8 Eli Lilly
7.1.9 Abbottt
7.1.10 Roche
7.1.11 Lifescan (Johnson &Johnson)
7.1.12 Dexcom
- *List Not Exhaustive
7.2 Company Share Analysis
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
Vietnam Diabetes Care Devices Industry Segmentation
Diabetes is a medical condition that arises when the level of glucose, also known as blood sugar, in your bloodstream becomes excessively high. Glucose serves as the primary source of energy for the patient's body. While patient's bodies can produce glucose, it is also obtained from the food they consume. Insulin, a hormone produced by the pancreas, facilitates the entry of glucose into your cells, where it is utilized as a source of energy. To manage or monitor patients use diabetes devices. Vietnam Diabetes Care Devices Market is segmented into devices and Monitoring Devices. The report offers the value (in USD) and volume (in Units) for the above segments.
| Monitoring Devices | |||||
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| Management Devices | |||||
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| Insulin Syringes | |||||
| Insulin Cartridges | |||||
| Disposable Pens |
Vietnam Diabetes Care Devices Market Research FAQs
How big is the Vietnam Diabetes Care Devices Market?
The Vietnam Diabetes Care Devices Market size is expected to reach USD 424.10 million in 2024 and grow at a CAGR of 2.10% to reach USD 470.55 million by 2029.
What is the current Vietnam Diabetes Care Devices Market size?
In 2024, the Vietnam Diabetes Care Devices Market size is expected to reach USD 424.10 million.
Who are the key players in Vietnam Diabetes Care Devices Market?
Medtronic, Roche, NovoNordisk, Abbott and Dexcom are the major companies operating in the Vietnam Diabetes Care Devices Market.
What years does this Vietnam Diabetes Care Devices Market cover, and what was the market size in 2023?
In 2023, the Vietnam Diabetes Care Devices Market size was estimated at USD 415.19 million. The report covers the Vietnam Diabetes Care Devices Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Vietnam Diabetes Care Devices Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Vietnam Diabetes Care Devices Industry Report
Statistics for the 2024 Vietnam Diabetes Care Devices market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Vietnam Diabetes Care Devices analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
