Vietnam's 2012 GDP growth rate was about 5 percent, down from 7 percent in 2010. But its economy is still very strong compared to the West, where growth rates have ranged from 0 to 2 percent. Vietnam's medical device market is expanding... Read More
ASEAN (Association of Southeast Asian Nations) recently released a draft of the ASEAN Medical Device Directive (AMDD) for comments in August 2012. This draft aims to enhance and harmonize medical device regulations among member countries. ASEAN plans to implement the Directive by... Read More
The Association of Southeast Asian Nations (ASEAN) is set to introduce the ASEAN Medical Devices Directive (AMDD), a uniform set of regulations that will cover all 10 of its member states. The AMDD will be written based on the Global Harmonization Task... Read More
Asia’s middle class is growing faster than any other continent in the world. By 2030, Asia is expected to contain two-thirds of the world’s middle class. A recent OECD study projected that this rising middle class will increase consumer spending in Asia... Read More
With a population of close to 90 million, Vietnam has one of the least-developed pharmaceutical markets in Asia, with relatively low per capita spending on drugs. However, there is significant growth potential in the country. While Vietnam's healthcare industry is still developing,... Read More
Asia is becoming a highly attractive market to Western medical device companies due to its strong economic growth, large population and aging populations. Western medical device companies are encouraged to take advantage of Asia's medical device market. Read More
On November 12, 2011, the United States and eight other countries jointly announced the outline for a new Trans-Pacific Partnership (TPP) on trade and investment. This landmark partnership aims to coordinate economic activity, regulatory standards, and tariffs in all trade areas. In... Read More
Although underdeveloped, the healthcare sector in Vietnam is rapidly expanding. The Vietnamese government has pledged about VND 46 trillion (US$2.2 billion) to improve and build more specialty hospitals and provincial-level general hospitals in less developed regions by 2013. In 2010, the Vietnamese... Read More
The Vietnam medical device market is growing very quickly. To succeed there, foreign medical device companies need to understand the Vietnamese regulatory system and how to get product approval. Read More
For some medical device companies, China’s position as a favorable site for low-tech medical device manufacturing has waned in recent years. These firms are instead starting to look at new hotspots such as Vietnam and India. Offshore production for US medical device... Read More