Hyderabad, Aug. 21, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "China In Vitro Diagnostics Market Report (2023-2028)," the market is estimated at USD 10.64 billion in 2023. It is expected to register a CAGR of 6.14% during the forecast period.
In vitro diagnostics play a crucial role in detecting infectious diseases, including COVID-19, using molecular and immunoassay methods. China is a significant in vitro diagnostics market in the Asia-Pacific region, driven by a growing geriatric population and the burden of chronic and infectious diseases like diabetes, cancer, and COVID-19. Supportive initiatives by the Chinese government are helping the market grow. Players in the market are launching new products with advanced features. The in vitro diagnostic market in China is expected to grow in the coming years due to these factors.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 10.64 billion |
| Market Size (2028) | USD 14.33 billion |
| CAGR (2023-2028) | 6.14% |
| Study Period | 2018-2028 |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | Growing geriatric population. |
| Chronic and infectious diseases. |
Who are the Top Companies in the China In Vitro Diagnostics Market?
The market is moderately competitive and consists of some major players. Many players in this market are trying to expand their product portfolios to increase their global market share. These companies focus on mergers and acquisitions, collaborations, and new product developments. The significant players in the Chinese in vitro diagnostics market are,
- Autobio Diagnostics Co.
- F. Hoffmann-La Roche AG
- Becton Dickinson & Company
- Shanghai Kehua Bio-Engineering Co. Ltd
- Abbott Laboratories
- Thermofisher Scientific Inc.
- QIAGEN NV
- Xiamen Boson Biotech Co. Ltd
- Maccura Biotechnology Co. Ltd
- BGI Group
- BioMerieux SA
- Bio-Rad Laboratories Inc.
- Danaher Corporation
- Arkray Inc.
- Mindray Medical International Limited
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Key Highlights from the China In Vitro Diagnostics Market Report:
All Eyes on Molecular Diagnostics Segment
- Molecular diagnostic tools have brought significant advancements to diagnostics research.
- The polymerase chain reaction (PCR) is a key technique in molecular diagnostics. Real-time PCR products can detect various pathogens like viruses, bacteria, fungi, and parasites. These tests have been crucial in diagnosing infectious diseases, especially during the COVID-19 pandemic.
- The rising burden of infectious diseases, like viral hepatitis, TB, syphilis, scarlet fever, and gonorrhea, is contributing to the growth of the molecular diagnostics segment in China. Clinical laboratories are increasingly using molecular diagnostics to detect diseases at their early stages.
Increasing Burden of Cancer in China
- Cancer is a significant cause of mortality in China, driving the need for early detection and effective treatment. In vitro diagnostics (IVDs) play a crucial role in cancer screening, diagnosis, and treatment.
- The growth of the IVD market in China is propelled by factors like the increasing number of cancer cases, product approvals, and investments. New cancer cases are rising in China, increasing the demand for early diagnosis.
- The high concentration of key players and a growing number of product launches are expected to boost the market in the coming years.
What are the Latest Developments in the China In Vitro Diagnostics Market?
- In September 2022, AroCell began the registration process of TPS CLIA in the Chinese market. AroCell expanded the collaboration in the Chinese market by including TPS CLIA on Fosun Diagnostics' fully automated system.
- In August 2022, Dx&Vx signed a business agreement with Jointown Medical Devices Group to develop, supply, and distribute in vitro diagnostic medical devices.
Mordor Intelligence has Segmented the China In Vitro Diagnostics Market Based on Test Type, Product, Usability, Application, and End Use.
- By Test Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Clinical Chemistry
- Molecular Diagnostics
- Immunodiagnostics
- Hematology
- Other Types
- By Product (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Instrument
- Reagent
- Other Products
- By Usability (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Disposable IVD Devices
- Reusable IVD Devices
- By Application (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Infectious Disease
- Diabetes
- Cancer/Oncology
- Cardiology
- Autoimmune Disease
- Nephrology
- Other Applications
- By End Use (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Diagnostic Laboratories
- Hospitals and Clinics
- Other End-Users
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the China In Vitro Diagnostics Market Report (2023-2028).
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About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
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