China's In-Vitro Diagnostics (IVD) market is predicted to exceed US$ 25 Billion by 2028

China is a large and fast-growing in vitro diagnostics (IVD) market - in fact, the largest in vitro diagnostics market in the Asia-Pacific region, and only second to the United States in terms of value.

Due to the upsurge of 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 (IVD) products.

Moreover, 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 during the forecast period. However, a lack of proper reimbursement and stringent regulatory framework restricts the market's growth.

China In Vitro Diagnostics (IVD) Market - Recent Developments

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 December 2022, bioMerieux announced the CE-marking of VIDAS KUBE, the next generation automated immunoassay system for the VIDAS range.

By Segment China IVD Market and Forecast 

Immunoassays accounted for lion's share of the total China IVD market, and is likely to maintain its dominant position over the forecast period as well.

Clinical Chemistry holds the 2nd position in the China IVD market, but its share is likely to continually decline over the forecast period.

Molecular Testing is the fastest growing segment of the China IVD market, driven by increasing demand for polymerase chain reaction (PCR) products in China.

China SMBG market is dominated by foreign IVD companies such as Roche.

SMBG and Hematology segments are competing closely with each other to grab maximum share of the pie.

China IVD Market Company Analysis

In the China IVD market, Roche Diagnostics is the leader with majority share, followed by Danaher Corporation, Shanghai Kehua Bio-Engineering Co. Ltd. and Mindray Medical International Limited.

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 system.

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.