China In-Vitro Diagnostics Industry is expanding with double-digit CAGR of 16.9% during 2021-2027
The Chinese IVDs industry is growing for years and has a significant global research and production base. In China, there is a solid clinical demand for the continuous development of IVD enterprises. However, new diagnostic requirements are constantly emerging, requiring clinical laboratories to carry out further testing projects and IVD enterprises to devise new technologies and products. Further, with the improved living standards of the Chinese people and the aging speed of the Chinese population, the demand for family health management is increasing; this avenue will thus become an important growth point for in vitro diagnostics enterprises.
How Coronavirus Benefited China In-Vitro Diagnostics Market Growth Trends
COVID-19 has further accelerated the growth of In-vitro diagnostics industry in China. As China has maintained the zero COVID policy, so in order to achieve that large number of PCR testing and Rapid Antigen tests needs to be performed. Due to COVID variants like Alpha, Beta, Gamma Delta, Delta Plus, and recently Omnicorn, the PCR test and Rapid Antigen tests will keep on happening in huge numbers. According to the publisher, the China In-Vitro Diagnostics Market Size was US$ 7.4 Billion in 2021.
Molecular Diagnostics Segment Registers Strong Growth in the Chinese in Vitro Diagnostics Market
In our report, By Segments - China in Vitro Diagnostics Market has been categorized into clinical chemistry, Immunoassay, Molecular Diagnostic, Microbiology, Haematology, and Self-Monitoring of Blood Glucose (SMBG), Point of Care Testing (POCT), and Coagulation. In IVD, one of the most valuable advances has been in the form of molecular diagnostic tools. As per our analysis, the polymerase chain reaction is the most conventional forefront of molecular diagnostics.
Besides, the real-time PCR products simultaneously detect viruses, bacteria, fungi, and parasites, allowing molecular laboratories to lower costs and drive better outcomes in molecular diagnostics. Remarkably, molecular diagnostic tests are used to detect specific sequences in DNA or RNA (including single nucleotide polymorphism (SNP), deletions, rearrangements, insertions, and others) that may or may not be associated with any disease.
Key Players in the Chinese IVD Market
Major international IVD companies already have a substantial presence in the Chinese market and represent potential competitive barriers to prospective market entrants. The key players include Roche Diagnostics, Sysmex Corporation, Bio-Rad Laboratories Inc., Shanghai Kehua Bio-Engineering Co. Ltd., Abbott Laboratories, Danaher Corporation, and BioMerieux SA.
The companies enjoy significantly greater financial resources to afford costs associated with product certification, clinical trials, and agent representation. Additionally, these companies can make the acquisitions necessary to establish direct distribution and local manufacturing operations.
This research report titled “China In-Vitro Diagnostics (IVD) Market, By Segment [Clinical Chemistry, Immunoassay, Molecular Diagnostic, Microbiology, Hematology, Self-Monitoring of Blood Glucose (SMBG), Point of Care Testing (POCT), Coagulation], Companies (Roche Diagnostics, Sysmex Corporation, Bio-Rad Laboratories Inc., Shanghai Kehua Bio-Engineering Co. Ltd., Abbott Laboratories, Danaher Corporation, and BioMerieux SA)” studies the China IVD Industry.
Segments - China in Vitro Diagnostics Market has been covered 8 viewpoints:
- Clinical Chemistry Market
- Immunoassay Market
- Molecular Diagnostic Market
- Microbiology Market
- Hematology Market
- Self-Monitoring of Blood Glucose (SMBG) Market
- Point of Care Testing (POCT) Market
- Coagulation Market
Key Players covered in the report which has been studied from 3 viewpoints:
- Overview
- Initiatives & Recent Developments
- Revenue
Company Analysis:
- Roche Diagnostics
- Sysmex Corporation
- Bio-Rad Laboratories Inc.
- Shanghai Kehua Bio-Engineering Co. Ltd.
- Abbott Laboratories
- Danaher Corporation
- BioMerieux SA
Table of Contents
Companies Mentioned
- Abbott Laboratories
- ADICON Clinical Laboratories (Privately held)
- BGI-Shenzhen
- BioMerieux SA
- Bio-Rad Laboratories Inc.
- Danaher Corporation
- Guangzhou Kingmed Diagnostics Center Co. Ltd.
- Kindstar Global (Privately held)
- OriGene Technologies
- Roche Diagnostics
- Shanghai Kehua Bio-Engineering Co. Ltd.
- Sysmex Corporation
- Zhejiang Di’an Diagnostics Technology Co., Ltd.
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 155 |
| Published | February 2022 |
| Forecast Period | 2021 - 2027 |
| Estimated Market Value ( USD | $ 7.4 Billion |
| Forecasted Market Value ( USD | $ 18.9 Billion |
| Compound Annual Growth Rate | 16.9% |
| Regions Covered | China |
| No. of Companies Mentioned | 13 |
