The Vietnamese laboratory market
Vietnam`s economy is increasing rapidly; at 7% in 2019 GDP growth is higher than that of its neighbor China. The main growth driver is the processing industry, which grew by an impressive 11%. The dynamic strength of the economy is also reflected in the great business potential the analysis, laboratory technology and biotech industries offer.
- Chemicals industry• The demand for chemicals and chemical products is rising; high-quality chemical pre-products are increasingly needed, notably for the production of fertilizers, plastic products, medicines, paints and varnishes.
• The chemical industry continues to rely on imports from abroad, the value of which increased by 17% to USD 10 billion in 2018.
- Pharmaceutical industry• Vietnam's pharmaceuticals market is expected to reach a market size of USD 7.7 billion by 2021 and USD 16.1 billion by 2026, with a compound growth rate of 11%. The government`s initative to produce higher quality pharmaceuticals in Vietnam will impact the market positively.
• According to the national strategy for the development of Vietnam`s pharmaceutical industry, nationwide testing centers need to be established to speed up the inspection and supervision of drug quality.
- Environmental monitoring industry• Due to the rapid economic development in Vietnam, river water and sea water quality has been affected by untreated waste water released in connection with industrial and agriculture activities. Furthermore, Vietnam is among the ten countries worldwide that are most affected by air pollution.
• Several investments in environmental monitoring equipment are planned, e.g. the Center for Environmental Monitoring in Ho Chi Minh City is spending USD 21.3 million on new instruments.
- Food industry• Vietnam`s food industry has experienced rapid growth over the past years and is one of the top export industries in Vietnam. Frequent food poisoning and contaminated food products have been widespread issues.
• Although Vietnam has a modern food safety regulatory framework, food quality monitoring is set to be improved further by the continued expansion of the country`s food analysis facilities.
Sources: vnexpress.vn / gtai.de / customsnews.vn / vietnamnews.vn / tapchithue.com.vn / seavestor.com
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Present your company at Vietnam's leading marketplace. You will meet the industry's global key players and visitors with budgets to invest.
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Good reasons to attend
A broad overview of the laboratory technology, analysis, quality control, biotechnology and the life sciences industry and a new drive for your business.
Record-breaking exhibitor and visitor numbers, close attention to hot topic of food safety and our "Lab Safety Show" - this was analytica Vietnam 2019!
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