From 2013 to 2023, the import of composite diagnostic or laboratory reagents to Viet Nam has shown a steady increase, with the value standing at $210.72 million in 2023. The year-on-year growth variations have shown an overall positive trend, with the highest increase in 2017 at 17.06%. Over the last two years (2022-2023), growth has decelerated to around 3.88%. The average annual growth rate (CAGR) for the last five years (2019-2023) has been 4.42%.
From 2024 onwards, the import values are forecasted to continue increasing, with a projected value of $247.78 million by 2028. The forecasted 5-year CAGR from 2024 to 2028 is expected to be 2.55%, indicating a more modest and stable rate of growth, contributing to a total forecasted growth rate of 13.43% over this period.
Future trends to watch for include potential impacts of technological advancements in diagnostic technologies, shifts in healthcare policies, and changes in global trade dynamics which might influence both supply chains and demand for these reagents in Viet Nam.
