The Vietnamese laboratory market
With growth of 6.8 percent in 2017 and a 21% increase in exports, Vietnam numbers among the most dynamic countries in Asia. Along with the increased market demand and big support from the Vietnamese government, the business potential in the analysis, laboratory technology and biotech industry in Vietnam is huge.
- Chemicals industry• The total import of chemical goods reached USD 2.95 billion in the first 10 months of 2017, an increase of 29.6% over the same period of 2016.
• The chemicals sector plays a key role in the Vietnamese government's plans with production expected to increase annually by 14–16% up until 2020.
- Pharmaceutical industry• Vietnam's pharmaceutical market is estimated to record revenue of USD 5.2 billion in 2017, a 10% increase from last year.
• In the "National Strategy Plan for Pharmaceutical Industry Development to 2020, forwarding 2030," the government is planning to invest up to USD 1.5 billion for the pharmaceutical industry in the next 10 years in order to reduce the dependence on imported drugs.
- Biotechnology• To meet the needs of biotech industry development as well as biosafety clearance, three national centers for biotechnology together with biotech centers in each province will be established by 2025.
• The centers will be equipped with modern facilities of an international standard, each employing a capable workforce of 200–500 persons.
- Food industry• With an expected annual growth rate of 10.9% and a market size of USD 30 billion, Vietnam's food and beverage industry is on an upward trend.
• The safety of food in the domestic market and food quality monitoring for exports are set to be improved further with the ministry planning various measures including the continued expansion of the country's food analysis facilities.
Sources: moit.gov.vn / tapchicongsan.org.vn / news-medical.net / gtai.de / vietnambiz.vn
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