IVD Market in China – Trends, Drivers, and Market Opportunity Assessment by Technavio

20-May-2017 Intellasia | BusinessWire | 6:23 AM Print This Post

LONDON–(BUSINESS WIRE)–#Healthcare–According to the latest market study released by Technavio,
the in-vitro
Diagnostics (IVD) market in China
is expected to reach
USD 7,874.16 million by 2021, growing at a CAGR of more than 14%.


This research report titled ‘IVD
Market in China 2017-2021’
provides an in-depth analysis of the
market in terms of revenue and emerging market trends. This market
research report also includes up to date analysis and forecasts for
various market segments and all geographical regions.

The IVD market in China is likely to grow at a rapid pace during the
forecast period. The increased incidences of the infectious and chronic
diseases are one of the major drivers. The leading factors to adopting
IVD are unhealthy dietary habits, obesity, stress, lack of physical
activities, consumption of alcohol, and increased smoking habits. The
IVD market is witnessing a shift toward the expansion of healthcare
facilities along with continuous technological advances. This is
boosting the growth of the IVD market in China.

According to Neha Noopur, a lead in-vitro
diagnostics
research analyst from Technavio, “Vendors such as Roche
Diagnostics, Siemens Healthineers, and Abbott are striving the
market growth through the development of molecular technology,
instruments, assays, and reagents, which are critical for the IVD
market. These companies are forming partnerships with specialized
expertise and hospitals for R&D and are participating in various
scientific conferences to showcase their products.”

Looking for more information on this market? Request
a free sample report

Technavio’s sample reports are free of charge and contain multiple
sections of the report including the market size and forecast, drivers,
challenges, trends, and more.

Technavio’s healthcare
and life science
research analysts categorize the IVD market in
China into the following segments by the application. They are:

  • Immunochemistry
  • SMBG
  • Molecular diagnostics
  • Clinical microbiology
  • POC testing
  • Tissue diagnostics
  • Hematology
  • Hemostasis

The top three application segments for IVD market in China are discussed
below:

Immunochemistry

Immunochemistry is the highest automated segment among all the
categories and represents the highest test volumes of all the clinical
tests. China has a growing rural hospital market that represents a lack
of proper healthcare infrastructure settings and thus indicates a
potential growth opportunity for affordable immunochemistry analyzer
during the forecast period.

SMBG

SMBG is a disease management tool to manage diabetes. It is an
important component of therapeutics of diabetes mellitus. Healthcare
professionals recommend SMBG to achieve a specified blood sugar level
and to prevent hypoglycemia. China, being a diabetic prone country has a
profitable growth potential, and the market is expected to grow at a
CAGR of close to 17% through 2021.

“The growing incidences of diabetes in China and the improved
awareness among the diabetic population, which causes increased spending
in healthcare settings, is the driving factor for SMBG market. Other
factors such as technological advances aiming toward the minimum or
non-invasive diagnostic tests will further boost the market in the
coming years,”
says Neha.

Molecular diagnostics

The molecular diagnostic market is expected to grow at a CAGR of almost
16% during the forecast period. Molecular diagnostics is very lucrative
and continuously growing market in China. It is the fastest growing
segment of the IVD market. It is dominated by two tests, namely virology
testing and CRC testing. Virology testing holds the maximum market
share, which includes the study of viruses and virus-like agents, their
structure, classification, and evolution.

CRC has the second highest market share in the molecular diagnostics
segment in China. In recent years, CRC has attracted the attention by
standing in the second and fourth position in the incidence and
mortality lists respectively among all malignant tumors in urban
population.

The top vendors highlighted by Technavio’s research analysts in this
report are:

  • Roche Diagnostics
  • Abbott
  • Siemens Healthineers

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About Technavio

Technavio
is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of bottom-up
and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.

If you are interested in more information, please contact our media team
at media@technavio.com.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US:
+1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

 


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