Dublin, March 15, 2024 (GLOBE NEWSWIRE) -- The "China In-Vitro Diagnostics Market (By Segment, Company), Size, Share, Regulations, Reimbursement, Major Deals, Trends, Key Company Profiles, Sales Analysis, and Recent Developments - Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
China's in-vitro diagnostics market is predicted to reach US$ 28.13 Billion by 2030, from US$ 11.96 Billion in 2023
3. China is the largest in-vitro diagnostics market in the Asia-Pacific region, and only second to the United States in terms of value. In-vitro diagnostics refers to the diagnosis of disease or other conditions of the human body through the collection, preparation, and testing of human samples with reagents, instruments, and systems. China is facing the challenges of fighting infectious diseases including HBV, TB, HCV, and HIV, as well as various chronic diseases and cancer. In-vitro diagnostics play an important role in the detection of infectious and chronic diseases.
Due to the upsurge in the geriatric population and the high burden of chronic and infectious diseases, like diabetes, cancer, and COVID-19, the China IVD market is slated to show significant growth, as these chronic disorders can be diagnosed and monitored using in-vitro diagnostics products. Moreover, the Chinese government is taking several initiatives to improve the healthcare sector in the country.
For instance, The State Council issued a guideline to implement the country's Healthy China initiative to diminish the incidence of disability among elderly people aged between 65 and 74 years by offering medical and health services. Such initiatives by the government are expected to boost market growth over the forecast period. However, a lack of proper reimbursement and a stringent regulatory framework restricts the market's growth.
China In-Vitro Diagnostics Market - Recent Developments
- In January 2024, bioMerieux announced the acquisition of LUMED, a software company that has developed a clinical decision support system to help hospitals optimize antimicrobial prescriptions and monitor healthcare-associated infections.
- In August 2023, Sysmex Corporation announced an expansion of the Global Business Partnership Agreement (GBPA) with Roche Diagnostics International Ltd.
- In April 2023, Oxford Nanopore Technologies plc, and bioMerieux SA teamed up to improve health outcomes globally by exploring selected opportunities to bring nanopore sequencing to the infectious disease diagnostics market.
- In July 2022, DiaCarta Inc., a molecular diagnostics company announced that the company had received CE-IVD Mark for its newly developed QuantiVirus SARS-CoV-2 & Flu A/B test.
By Segment: China In-Vitro Diagnostics Market and Forecast - Key Takeaways
- Immunoassay and Clinical Chemistry are the leading segments of the China IVD market. Together they contributed around 60 percent to the total China IVD market in 2023.
- Molecular Testing is the fastest-growing segment of the China IVD market, driven by increasing demand for polymerase chain reaction (PCR) products in China.
- POCT and SMBG segments are competing closely to grab the maximum market share of the pie. POCT is transforming diagnostic practices through its convenience and efficiency.
- China's SMBG market is dominated by foreign IVD companies such as Roche.
- Microbiology testing is witnessing growth due to technological advancements and increasing infectious disease incidences.
- The growth of the hematology market is attributed to factors such as the increasing incidences of blood disorders, the growing adoption of automated hematology instruments by diagnostic laboratories, the emergence of high throughput hematology analyzers, and the introduction of technologically advanced hematology instruments.
China In-Vitro Diagnostics Market - Company Analysis
- In the China IVD market, Roche Diagnostics is the leader with a majority share, followed by Mindray Medical International Limited and Shanghai Kehua Bio-Engineering Co. Ltd.
- Danaher Corporation, Sysmex Corporation, Abbott Laboratories, and Thermo Fisher Scientific Inc. are the other top players in the China IVD market.
- Sysmex is focusing on Tier 2 and 3 hospitals in China, as they will play a crucial role in providing more advanced treatment, training future generations, and raising the level of regional medical care.
- In the diagnostics business, Abbott will focus on driving sales growth from its Alinity suite of diagnostics instruments and its portfolio of rapid diagnostic testing systems.
- In August 2023, Sysmex Corporation announced an expansion of the Global Business Partnership Agreement (GBPA) with Roche Diagnostics International Ltd.
- In April 2023, bioMerieux submitted a 510(k) premarket notification to the U.S. FDA for the VITEK REVEAL, formerly known as SPECIFIC REVEAL Rapid AST System.
China IVD Market - Key Company Profiles
- Roche Diagnostics
- Abbott Laboratories
- Sysmex Corporation
- Mindray Medical International Limited
- Shanghai Kehua Bio-Engineering Co. Ltd.
- bioMerieux SA
- Bio-Rad Laboratories, Inc
- Danaher Corporation
- Thermo Fisher Scientific Inc.
- Snibe Diagnostic
- Dirui Medical
- Autobio Diagnostics
- YHLO Biotech
- Beijing Strong Biotechnologies, Inc.
Profiles of Private Clinical Labs and Diagnostic Services Companies in China
- Dian Diagnostics Group Co. Ltd. (Formerly Zhejiang Di'an Diagnostics Technology Co., Ltd.)
- ADICON Clinical Laboratories
- Guangzhou Kingmed Diagnostics Center Co. Ltd.
- Kindstar Global
- BGI-Shenzhen
- OriGene Technologies
This 282 Page report with 43 Figures and 5 Tables has been analyzed from 12 View Points:
- China IVD Market and Forecast (2014 - 2030)
- China IVD Market Share and Forecast (2014 - 2030)
- By Segment - China IVD Market & Forecast (2014 - 2030)
- Development Environment and Regulatory Status in China IVD market
- China IVD Market - Key Players Sales Analysis (2015 - 2030)
- Registration for In-Vitro Diagnostic Reagents in China
- Regulatory History/Status/Trends in China IVD Market
- Reimbursement of IVD Products in China
- Profiles of Select Private Clinical Labs and Diagnostic Services Companies
- IVD Market - Major Deals
- IVD Market - Recent Developments
- China IVD Industry - Market Dynamics
China IVD Market - By Application Segment
- Clinical Chemistry
- Immunoassays
- Hematology
- Coagulation
- Microbiology
- Molecular Testing
- Self-Monitoring of Blood Glucose (SMBG)
- Point of Care Testing (POCT)
For more information about this report visit https://www.researchandmarkets.com/r/40i0y7
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