Vietnam’s diagnostic labs market was valued at US$1,229.01 million in 2023 and is projected to grow at a compound annual growth rate of 6.50 percent, reaching an estimated US$2,166.22 million by 2032, according to a report from Expert Market Research.
The diagnostic labs sector plays a vital role in Vietnam’s healthcare system, offering critical services for medical testing and diagnostics. The rising incidence of chronic illnesses such as diabetes, cardiovascular diseases, and cancer has significantly boosted the demand for diagnostic services, the report says.
In addition, factors such as increasing health awareness, higher disposable incomes, and improved access to healthcare facilities have encouraged more people to utilise diagnostic tests. These trends, coupled with Vietnam’s ongoing healthcare advancements, position the diagnostic labs market for sustained growth in the coming years.
See also: Healthcare Industry in Vietnam