PACS market in Southeast Asia is expected to be worth US$329.3 million in 2021
Marcopacs as the leader of PACS (picture archiving and communication system) in Iran, recently ordered to Solutia for a market research to find best export targets around the world for its very competitive products. Analysis of world market for PACS system shows that China, India, Pakistan, Indonesia and Vietnam would be good markets for innovative PACS. Among them Vietnam is the fast growing market.
Good situation of GDP PPP increase in recent years, ease of doing business, far from political and economic risks and high population of near 96 million people makes Vietnam as one of the best candidates for export of medical devices.
In 2016, there were 1,346 hospitals in Vietnam, which included 1,161 public hospitals and 185 private hospitals. Vietnam’s hospitals are at the early stage of going smart. As of July 2019, 100% of public hospitals have installed hospital information system (HIS). While some hospitals have an internal information technology team to develop HIS internally, the majority (>92%) utilize solutions developed by local IT companies such as FPT, Links Toan Cau, Dang Quang, and OneNet, amongst others.
The adoption of Picture Archiving and Communication System-Radiology Information System (PACS-RIS) is very low (<10% of total hospitals) across healthcare providers nationwide. As of July 2019, only 20 public hospitals have successfully implemented PACS-RIS. Laboratory Information System (LIS) adoption is relatively high at central-level hospitals, with 36 out of 49 hospitals having implemented the system, whereas the adoption is slow at lower-level hospitals.
Until mid-2019, 14 public hospitals have implemented the EMR system. Although hospitals have yet fully converted from the paper records to electronic records, the initial benefit of reducing time spent on writing medical reports has been reported. A doctor working at a provincial hospital suggested that EMR system potentially saves up to 25% of the total hospital’s cost from reducing costs of storage, staff, and administrative fees.
Compared to public hospitals, many private hospitals have relatively advanced health management systems. This is mainly due to three factors. Firstly, higher-income patients demand and have demonstrated a willingness-to-pay for transparent, convenient, modern and high-quality healthcare services.
Next, foreign-invested hospitals with international management standards invest heavily in digital platforms including HIS, LIS or PACS at the early stage of establishment. Finally, local private hospitals perceive digitization as a must-have factor to maintain their competitive position in the market, especially with the increasing entrants of foreign hospitals.
Large private hospitals such as Hoan My Hospital, Victoria Healthcare and Vinmec Hospital, are operating as hospital chains with multiple locations across the country, are very good choices to start offering PACS systems.
Vietnam would be a real target market for PACS.
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