The import of extracts of glands for therapeutic use to Vietnam has seen varying growth rates over the past decade. From 2013 to 2015, there was an initial decline, followed by a significant spike in 2016, and steady growth thereafter. The actual import value in 2023 stood at 372.06 thousand US dollars. Year-on-year, the value increased by 4.82% from 2022 to 2023. The 5-year Compound Annual Growth Rate (CAGR) from 2018 to 2023 was 5.63%.
Future growth forecasts to 2028 suggest a projected rise with a 5-year CAGR of 3.02%, indicating a stable but slower growth trajectory. It is anticipated that by 2028, the value will reach around 454.29 thousand US dollars, demonstrating a 16.06% total growth over the next five years.
Future trends to watch for include advancements in therapeutic uses of gland extracts, potential regulatory changes, economic shifts in Vietnam, and technological innovations in medical treatments. Monitoring these factors will be critical for accurately projecting future import demands.
