The IVD market in China is currently valued at around USD 4,890 million and is expected to surpass USD 7,874 million by 2021, says Technavio.
Technavio has announced its latest market research report on the IVD market in China, under its in-vitro diagnostics portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like Roche Diagnostics, Abbott, and Siemens Healthineers.
According to Barath Palada, a lead analyst for in-vitro diagnostics research at Technavio, “The demand for POC testing in China has been expericing a surge and the trend is likely to continue throughout the forecast period. Growing incidence of HIV and the concentration of HIV-positve people in rural areas is one of key factors propelling the demand for POC testing devices in China.”
POC testing is a form of medical diagnostic testing that can be performed at the location where an individual is receiving care instead of clinical laboratories. POC testing devices enables people to combat the challenges of transporting blood specimens in a reliable, simple, low-cost and robust, manner.
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Healthcare infrastructure expansion
The Chinese government is currently focusing on the constant expansion of healthcare facilities, primarily concentrating on the rural areas. Under the “Healthy China 2020”, the government plans to provide universal access to healthcare facilities to all its citizens. People are encouraged to visit nearby clinics or healthcare facilities to avail treatment or diagnostic services. Such iniatives are antcipated to help reduce the burden of large test volumes on class II and class III hospitals.
Continuous advances in IVD procedures
Continuous technological advancements are spurring the development of advanced IVD procedures. The government is providing funding to research institutes to develop innovative and more customized diagnostic techniques. Array comparative genomic hybridization (CGH) is one such important emerging technology. It makes use of cytogenetics either in cancer or constitutional disorders. Array CGH can identify copy number variations (CNVs), which may present in some kinds of cancers and constitutional disorders.
This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘IVD Market in China 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global POC Lipid Testing Market 2017-2021
- Global HLA Typing Transplant Market 2017-2021
- Global Liquid Biopsy Market 2017-2021
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