China In-Vitro Diagnostics (IVD) Market Provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
Dallas, United States - June 8, 2021 /MarketersMedia/ —
China In-Vitro Diagnostics (IVD) market is predicted to exceed US$ 21 Billion by 2027. China is a large and fast-growing in vitro diagnostics (IVD) market - in fact, only second to the United States in terms of value. Historically, large multinational companies have dominated IVD market in China; today, domestic companies such as Shanghai Kehua Bio-Engineering (KHB) being one of the largest - are now gaining market share.
China represents one of the largest clinical laboratory markets in the Asia-Pacific region, and the fastest growing among the top ten IVD country markets. China’s quickly aging population means the country is experiencing an explosion of chronic conditions such as diabetes, heart disease and cancer. All of these conditions can be diagnosed and monitored using IVD products. Further, the average Chinese consumer is now willing and able to pay more for healthcare than a decade years ago. Hence, China has the potential for more dramatic growth in the future.
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Impact of COVID-19 on China In-Vitro Diagnostics Market
The COVID–19 outbreak has become a global stress test. The disease has infected around 165 Million people worldwide. Globally the death toll has reached 3,412,045 according to the latest statistics from the Worldometers (as of May 18, 2021). The number is still growing, and the duration of the pandemic is still difficult to predict. In China, COVID–19 disease has infected around 90,894 people (as of May 18, 2021), and the death toll has reached 4,636. The COVID-19 outbreak has created a sense of urgency and panic among people globally. In this scenario, the in-vitro diagnostics forms the crux of increased testing. Manufacturers in the in-vitro diagnostic market are focusing on developing novel technologies for maximum testing within a minimum period. For instance, in April 2021, Sysmex Corporation obtained in vitro diagnostic approval for the manufacturing and marketing of the DetectAmp SARS-CoV-2 RT-PCR Kit, a SARS coronavirus nucleic acid kit that detects the RNA of the novel coronavirus (SARS-CoV-2). The novel coronavirus has accelerated the research and development activities in the in-vitro diagnostics market. Development and production in maximum numbers is the need of the hour. Therefore, quick approvals are proving to be the cherry on the cake for the growth of the in-vitro diagnostic market.
China IVD Market Segment Wise Analysis
• Immunoassay captures maximum share of the China IVD market.
• Clinical Chemistry holds the 2nd position in China IVD market being followed by Molecular Testing.
• The molecular testing market in China is expected to show double digits growth rate during the forecast period.
• China SMBG market is dominated by foreign IVD companies such as Roche.
• The China Coagulation market is expected to almost double by 2026 from current figure.
• Microbiology and Hematology segments are competing closely with each other to grab maximum share of the pie.
• Point of Care Testing accounts for least share of the China IVD market.
China IVD Market Company Analysis
• Roche captures maximum share of the China IVD market.
• Sysmex Corporation and Abbott Laboratories are the other top two players in the China IVD market.
• Sysmex has built a robust infrastructure in China, working with more than 400 sales distributors to provide products and services throughout the country.
• In Abbott’s worldwide diagnostics business, sales growth over the last three years reflected the acquisition of Alere in October of 2017.
• At present, many local players are present in China IVD market and their combined market share is likely to exceed 65 percent by 2026.
iGATE RESEARCH report titled “China In-Vitro Diagnostics (IVD) Market, Impact of COVID-19, Size, Share, Trends, Regulations, Reimbursement, Major Deals & Key Players Analysis - Forecast to 2027” provides a comprehensive analysis of the China In-Vitro Diagnostics (IVD Market.
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This 150 Page report with 34 Figures and 3 Tables has been analyzed from 11 View Points:
1) China IVD Market and Forecast (2010 - 2027)
2) Impact of COVID-19 on China IVD Market
3) China IVD Market Share and Forecast (2010 - 2027)
4) China IVD Market & Forecast – By Segment (2010 - 2027)
5) Development Environment and Regulatory Status in China IVD market
6) China IVD Market & Forecast – Key Players Sales Analysis (2010 - 2026)
7) Registration for In Vitro Diagnostic Reagents in China
8) Regulatory History/Status/Trends in China IVD Market
9) Reimbursement of IVD Products in China
10) Profiles of Select Private Clinical Labs and Diagnostic Services Companies
11) China IVD Industry Drivers & Challenges
China IVD Market – By Application Segments
1. Clinical Chemistry Market
2. Immunoassay Market
3. Hematology Market
4. Coagulation Market
5. Microbiology Market
6. Molecular Testing Market
7. Self-Monitoring of Blood Glucose (SMBG) Market
8. Point of Care Testing (POCT) Market
China IVD Sales & Forecast – Key Players Analysis
1. Roche Diagnostics
2. Abbott Laboratories
3. Sysmex Corporation
4. Mindray Medical International Limited
5. Shanghai Kehua Bio-Engineering Co. Ltd.
6. Others
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
Data Source
iGATE RESEARCH employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports. This report is built by using data and information sourced from Proprietary Information Database, Primary and Secondary Research Methodologies, and In house analysis by iGATE Research dedicated team of qualified professionals with deep industry experience and expertise.
Research Methodologies
Primary Research Methodologies: Questionnaires, Surveys, Interviews with Individuals, Small Groups, Telephonic Interview, etc.
Secondary Research Methodologies: Printable and Non-printable sources, Newspaper, Magazine and Journal Content, Government and NGO Statistics, white Papers, Information on the Web, Information from Agencies Such as Industry Bodies, Companies Annual Report, Government Agencies, Libraries and Local Councils and a large number of Paid Databases.
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