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China In Vitro Diagnostics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

China In Vitro Diagnostics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

  • September 2021
  • 107 pages
  • ID: 6155626
  • Format: PDF
  • Mordor Intelligence LLP

Summary

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The Chinese in-vitro diagnostics market is projected to register a CAGR of 6.6% during the forecast period.

In-vitro diagnostics (IVDs) play an important role in the detection of infectious diseases. A large number of molecular assays and immunoassays are used for the detection of COVID-19. China represents one of the largest in-vitro diagnostics markets in the Asia-Pacific region, and this trend is expected to continue over the forecast period. Due to the upsurge of the geriatric population and the high burden of chronic and infectious diseases, like diabetes, cancer, and COVID-19, the studied market is slated to show significant growth, as these chronic disorders can be diagnosed and monitored using In-vitro diagnostics (IVD) products.

According to the World Health Organization (WHO), 102,762 COVID-19 cases were recorded as of March 2021, with 4,851 deaths in China. The increasing burden of the COVID-19 pandemic will lead to a high requirement of tests, which will boost the IVD market in the country.

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 2022 by offering medical and health services. Such initiatives from the government are expected to boost market growth during the forecast period. However, a lack of proper reimbursement and stringent regulatory framework might hamper the growth of the market.

Key Market Trends

Molecular Diagnostics Segment Dominates the Chinese In Vitro Diagnostics Market

In diagnostics research, one of the most valuable advancements has been in the form of molecular diagnostic tools. The polymerase chain reaction is the most established forefront of molecular diagnostics. The real-time PCR products simultaneously detect viruses, bacteria, fungi, and parasites, allowing molecular laboratories to lower costs and drive better outcomes.

Molecular diagnostic tests are used for the detection of 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.

Molecular diagnostics are mainly used to diagnose infectious diseases, and with the rising burden and increasing spread of the COVID 19 pandemic, the segment is at its peak in the country. Molecular diagnostic assays are required for the detection of viral RNAs that are very specific to the SARS-CoV-2 virus, which causes COVID-19.

In addition, the rising burden of infectious disease can be attributed to the segment growth. For instance, According to the National Health Commission, nearly 1.71 million cases of infectious diseases were reported on the mainland for the month of December 2019. Approximately 288,739 cases were classified as Class B infectious diseases. Viral hepatitis, tuberculosis (TB), syphilis, scarlet fever, and gonorrhea accounted for 94% of these cases. Thus, with the rising importance given by clinical laboratories to diagnose diseases in the early stage of development, collaboration with domestic manufacturers, along with new product launches, the molecular diagnostics segment is expected to witness good growth over the forecast period in China.

Competitive Landscape

Many players in this market are trying to expand their product portfolio in order to top the global market. The companies focus on strategies, such as mergers and acquisitions, collaborations, and new product developments. For instance, in March 2021, OpGen announced that it had received regulatory approval from the Chinese National Medical Products Administration for its Curetis Unyvero system as an in vitro diagnostics instrument system. The submission of this was filed in 2019, which included the Unyvero A50 Analyzer, the Unyvero L4 Lysator, and the Unyvero C8 Cockpit. These factors are expected to propel market growth. Key players in the Chinese in vitro diagnostics market are Abbott Laboratories, Shanghai Kehua Bio-Engineering Co. Ltd, Autobio Diagnostics Co., Mindray Medical International Limited, and Maccura Biotechnology, among others.

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