Vietnam: Diagnostic Equipment Market 2024

Diagnostic Equipment Market Size in Vietnam

The Vietnamese diagnostic equipment market fell to $X in 2023, remaining stable against the previous year. In general, consumption recorded slight growth. As a result, consumption attained the peak level of $X. From 2021 to 2023, the growth of the market failed to regain momentum.

Diagnostic Equipment Production in Vietnam

In value terms, diagnostic equipment production declined to $X in 2023 estimated in export price. In general, production recorded a moderate increase. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2023, production growth remained at a somewhat lower figure.

Diagnostic Equipment Exports

Exports from Vietnam

In 2023, after two years of growth, there was significant decline in shipments abroad of electro-diagnostic apparatus, and ultra-violet or infra-red ray apparatus, when their volume decreased by X% to X units. Overall, total exports indicated a noticeable expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2015 with an increase of X%. Over the period under review, the exports attained the peak figure at X units in 2022, and then dropped in the following year.

In value terms, diagnostic equipment exports fell to $X in 2023. In general, exports, however, posted a remarkable increase. The pace of growth appeared the most rapid in 2014 when exports increased by X%. The exports peaked at $X in 2022, and then shrank in the following year.

Exports by Country

The United States (X units), the Netherlands (X units) and Hong Kong SAR (X units) were the main destinations of diagnostic equipment exports from Vietnam, with a combined X% share of total exports. Japan, South Korea, the United Arab Emirates, Mexico and Singapore lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Mexico (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for diagnostic equipment exported from Vietnam were the United States ($X), the Netherlands ($X) and Hong Kong SAR ($X), with a combined X% share of total exports. Japan, South Korea, the United Arab Emirates, Mexico and Singapore lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Mexico, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average diagnostic equipment export price stood at $X per unit in 2023, growing by X% against the previous year. Overall, export price indicated perceptible growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, diagnostic equipment export price decreased by X% against 2020 indices. The growth pace was the most rapid in 2013 an increase of X%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2020; however, from 2021 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2023, amid the top suppliers, the country with the highest price was Singapore ($X per unit), while the average price for exports to the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (X%), while the prices for the other major destinations experienced more modest paces of growth.

Diagnostic Equipment Imports

Imports into Vietnam

Diagnostic equipment imports into Vietnam stood at X units in 2023, picking up by X% compared with the year before. Overall, total imports indicated prominent growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X units in 2021; however, from 2022 to 2023, imports remained at a lower figure.

In value terms, diagnostic equipment imports amounted to $X in 2023. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when imports increased by X%. Imports peaked at $X in 2019; however, from 2020 to 2023, imports remained at a lower figure.

Imports by Country

Japan (X units), China (X units) and Germany (X units) were the main suppliers of diagnostic equipment imports to Vietnam, with a combined X% share of total imports. The United States, Ireland, South Korea, Mexico, Finland, Malaysia, Norway, Austria and France lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the biggest increases were recorded for Mexico (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Japan ($X) and South Korea ($X) constituted the largest diagnostic equipment suppliers to Vietnam, with a combined X% share of total imports. The United States, Germany, Austria, Ireland, Mexico, Finland, Norway, France and Malaysia lagged somewhat behind, together comprising a further X%.

Mexico, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average diagnostic equipment import price stood at $X per unit in 2023, remaining constant against the previous year. In general, the import price, however, recorded a noticeable descent. The most prominent rate of growth was recorded in 2015 when the average import price increased by X%. The import price peaked at $X per unit in 2012; however, from 2013 to 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was France ($X per unit), while the price for Finland ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by France (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform