Vietnam Diabetes Care Devices Market Size

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.