Vietnam’s Healthcare and Medical Device Market: Opportunities and Challenges
Vietnam’s healthcare spending is projected to rise from $16.1 billion in 2017 to $33.8 billion by 2030, driven by growing demand for quality care and advanced medical technology. However, the domestic healthcare system still faces challenges, particularly shortages in medical equipment, such as surgical instruments, emphasizing the need for significant investment in importing advanced devices.
For foreign manufacturers seeking to distribute medical devices in Vietnam, navigating the regulatory landscape is essential. Strict compliance with the Vietnamese government’s legal requirements is critical to ensuring product safety, effectiveness, and market access. Devices must be classified and registered with the appropriate authorities before entering the market. Additionally, products must adhere to stringent quality and safety standards to meet local regulations.
Understanding and adhering to these compliance requirements is not just a regulatory necessity - it is a strategic imperative for success. By aligning with Vietnam’s regulatory framework, international medical device companies can contribute to the country’s healthcare advancement while unlocking significant market opportunities.
Read the full article at: https://vietnam.incorp.asia/medical-devices-compliance-in-vietnam/
