Vietnam Next Generation Sequencing Market Outlook to 2028

Vietnam Next Generation Sequencing Market Overview

In recent years, the Vietnam Next Generation Sequencing market has experienced substantial growth, this is reflected by the Asia-Pacific Next Generation Sequencing market reached a valuation of USD 1.20 billion in 2023 growing at a CAGR of 24%.

The Vietnam Next Generation Sequencing (NGS) market is considered fragmented. Key players in the Vietnam NGS market include Illumina, Thermo Fisher Scientific, BGI Genomics, Roche, and Qiagen.

In 2023, an important development in the Vietnam NGS market was the launch of a new sequencing platform by BGI Genomics. This platform, designed to deliver faster and more accurate genomic data, has been adopted by several research institutions across Vietnam.

Vietnam Next Generation Sequencing Current Market Analysis

The impact of NGS on the Vietnamese healthcare sector has been profound, revolutionizing the approach to disease diagnosis and treatment. The ability to sequence entire genomes quickly and cost-effectively has enabled more precise and personalized healthcare solutions.

The key growth drivers for the Vietnam NGS market include the rising prevalence of chronic diseases and genetic disorders, which has led to increased demand for genomic testing. In 2023, the prevalence of genetic disorders in Vietnam was estimated to affect a substantial portion of the country’s population.

Ho Chi Minh City has emerged as a dominant region in the Vietnam NGS market, driven by its advanced healthcare infrastructure and concentration of leading research institutions.

Vietnam Next Generation Sequencing Market Segmentation

The Vietnam Next Generation Sequencing market is segmented by various factors like Product, Application, and Region.

By Product: The Vietnam NGS market is segmented by product type into Sequencing Instruments, Consumables, and Services. In 2023, Sequencing Instruments dominated the market owing to the continuous advancements in sequencing technology and the increasing demand for high-throughput sequencing platforms in research and clinical applications.

By Application: The market is further segmented by application into Clinical Diagnostics, Drug Discovery, and Research. Clinical Diagnostics dominated the market in 2023 due to its increasing use of NGS in diagnosing genetic disorders, cancer, and infectious diseases drives this segment. The ability to provide comprehensive genomic data for personalized treatment plans makes NGS a valuable tool in clinical settings.

By Region: The Vietnam NGS market is segmented by region into North, South, East, and West. The Northern region dominate the market share in 2023. The presence of leading universities and research institutions, coupled with government support for genomic research, drives the market in this region.

Vietnam Next Generation Sequencing Market Competitive Landscape

Company Name

Establishment Year

Headquarters

Illumina

1998

San Diego, USA

Thermo Fisher Scientific

2006

Waltham, USA

BGI Genomics

1999

Shenzhen, China

Roche

1896

Basel, Switzerland

Qiagen

1984

Hilden, Germany

Thermo Fisher Scientific: In 2023, Thermo Fisher Scientific announced the acquisition of Cor Evitas, a leading provider of regulatory-grade, real-world evidence for approved medical treatments and therapies, for USD 912.5 million in cash. Additionally, Thermo Fisher announced a partnership with Flagship Pioneering to establish a string of platform companies focused on novel tools and to support the acceleration of first-in-class therapies.

BGI Genomics: In 2024, BGI Genomics has opened a new clinical laboratory in Uruguay's Parque de las Ciencias free trade zone, positioning it as a regional hub for Latin America. This facility aims to advance preventive medicine and enhance early disease diagnosis through advanced technology.

Qiagen: In 2024, QGEN partnered with the Snow Molecular Anthropology Lab at the University of Montana to enhance human identification and forensics. The lab will utilize QIAGEN’s Mi Seq FGx sequencing system, receive training, and access Foren Seq Kintelligence kits and the Foren Seq Kintelligence HT System.

Vietnam Next Generation Sequencing Market Analysis

Vietnam Next Generation Sequencing Market Growth Drivers

Increasing Prevalence of Genetic Disorders: The Vietnam NGS market is being driven by the rising number of genetic disorders. In 2024, it is estimated that a substantial part of the Vietnamese population will be affected by genetic disorders, creating a significant demand for advanced diagnostic tools such as NGS. This demand is fueling the growth of the market as healthcare providers adopt NGS to deliver accurate and early diagnosis.

Advancements in NGS Technology: Continuous advancements in NGS technology, such as the development of more efficient sequencing platforms and bioinformatics tools, are driving the market forward. In 2024, a new high-throughput sequencing platform capable of processing thousands of samples simultaneously was introduced, greatly reducing the cost and time required for sequencing.

Growing Adoption in Clinical Diagnostics: The use of NGS in clinical diagnostics is rapidly increasing in Vietnam. In 2024, over 500 hospitals and clinics in Vietnam are expected to integrate NGS into their diagnostic protocols, particularly for cancer and rare genetic diseases. This widespread adoption is enhancing patient care by providing personalized treatment options based on genomic data.

Vietnam Next Generation Sequencing Market Challenges

High Cost of Sequencing: Despite technological advancements, the high cost of NGS remains a significant challenge. In 2024, the average cost of a whole genome sequencing test in Vietnam is estimated to be USD 1,000, making it inaccessible to many patients. Efforts to reduce these costs are essential for broader adoption of NGS technologies.

Lack of Skilled Professionals: The shortage of skilled professionals trained in genomic technologies and bioinformatics poses a challenge to the Vietnam NGS market. In 2024, it is estimated that Vietnam will require additional professionals in this field to meet the growing demand for NGS services and data analysis.

Data Management and Interpretation: The large volumes of data generated by NGS present challenges in terms of storage, management, and interpretation. In 2024, the average genomic research project in Vietnam is expected to generate over 10 terabytes of data, necessitating robust bioinformatics infrastructure and expertise.

Vietnam Next Generation Sequencing Market Government Initiatives

National Genomics Initiative: In 2024, the Vietnamese government launched the National Genomics Initiative, with a budget of USD 20 million, to integrate genomic technologies into public health strategies. This initiative aims to enhance the infrastructure for genomic research and promote the use of NGS in clinical diagnostics.

Health Research Grants: The Vietnamese government has increased its allocation for health research grants, with a focus on genomic studies. In 2024, USD 10 million in grants is expected to be distributed to research institutions and universities to support NGS-related projects.

Public-Private Partnerships: The government is fostering public-private partnerships to advance genomic research. In 2024, a collaboration between the Ministry of Health and a leading biotechnology company was established, aimed at developing cost-effective NGS solutions for widespread clinical use.

Vietnam Next Generation Sequencing Future Market Outlook

The Vietnam next generation sequencing market is poised for remarkable growth, driven by integration of AI in genomic data analysis, expansion of personalized medicine, and development of cost-effective sequencing solutions.

Future Market Trends

Integration of AI in Genomic Data Analysis: Over the next five years, the integration of artificial intelligence (AI) in genomic data analysis will revolutionize the Vietnam NGS market. AI-powered tools will enable faster and more accurate interpretation of complex genomic data, enhancing the clinical utility of NGS.

Expansion of Personalized Medicine: By 2029, the application of NGS in personalized medicine is expected to grow significantly in Vietnam. NGS will be widely used to tailor treatment plans based on individual genetic profiles, improving patient outcomes and reducing healthcare costs.
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