Market revenue in 2023 | USD 5,477.1 million |
Market revenue in 2030 | USD 8,448.8 million |
Growth rate | 6.4% (CAGR from 2023 to 2030) |
Largest segment | Reagents |
Fastest growing segment | Reagents |
Historical data | 2018 - 2022 |
Base year | 2023 |
Forecast period | 2024 - 2030 |
Quantitative units | Revenue in USD million |
Market segmentation | Instruments, Reagents, Services |
Key market players worldwide | Abbott Laboratories, BioMerieux SA, QuidelOrtho Corp, Siemens Healthineers AG ADR, Bio-Rad Laboratories Inc, Qiagen NV, Sysmex Corp, Charles River Laboratories International Inc, Quest Diagnostics Inc, Agilent Technologies Inc, Danaher Corp, BD, Roche Holding AG |
Reagents was the largest segment with a revenue share of 66.17% in 2024. Horizon Databook has segmented the China in vitro diagnostics (ivd) market based on instruments, reagents, services covering the revenue growth of each sub-segment from 2018 to 2030.
China is focusing on developing novel technologies and improving R&D activities to enhance their existent healthcare facilities. With its growing population, there is need for high healthcare expenditure. The need for early diagnosis of diseases to reduce treatment costs and mortality rate is expected to fuel demand for IVDs. This, in turn, will lead to a saving on the national income and better patient outcomes.
The currently available major IVD tests include FISH-based breast cancer testing and Human Papillomavirus (HPV) testing. The ministry of health is shifting its focus from healthcare to preventive care and diagnostic testing products, which will aid further growth of the Chinese IVD market. Furthermore, the rising prevalence of infectious diseases in China and the increasing profit margins in IVD tests will aid further growth of this market.
Furthermore, in December 2019, LYNOAMP BC received approval from China’s National Medical Products Administration (NMPA) for LYNOAMP BC. It was developed by Sysmex Corporation as a class III category IVD reagent for detecting breast cancer lymph node metastasis.
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