China In Vitro Diagnostics Market Size

China In-vitro Diagnostics (IVD) Market Analysis

China's In Vitro Diagnostics Market size is expected to grow from USD 10,644.78 million in 2023 to USD 14,339.43 million by 2028, registering a CAGR of 6.14% during the forecast period (2023-2028).

The COVID-19 pandemic turned the spotlight on in vitro diagnostics since there was an increasing demand for IVD kits and reagents for the rapid and accurate diagnosis of SARS-CoV2 virus infection among the global population. The outbreak of COVID-19 positively impacted the market, as in vitro diagnostics involved the testing of various biological samples. This aided in the diagnosis of infectious diseases such as COVID-19. Testing remained a crucial step in controlling the COVID-19 pandemic. For instance, according to the 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 led to a high requirement for tests, which boosted the IVD market in the country. However, the stabilizing cases of COVID-19 in China were expected to stabilize the growth of the market. For instance, as per the National Health Commission (NHC), in December 2022, China reported 36,061 new COVID-19 infections, of which 4,150 were symptomatic and 31,911 were asymptomatic. Thus, the stabilizing cases of COVID-19 were expected to bring the growth of China's in vitro diagnostics market back to its pre-pandemic level.

In vitro diagnostics (IVDs) play an important role in detecting infectious diseases. A large number of molecular assays and immunoassays are being 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 an increase in the geriatric population and the high burden of chronic and infectious diseases, like diabetes, cancer, and COVID-19, the market studied is slated to show significant growth, as these chronic disorders can be diagnosed and monitored using IVD products.

In May 2021, 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 by the government are expected to boost market growth during the forecast period. But a lack of proper reimbursement and strict regulations could slow the growth of the market.

Also, the increasing number of product launches with advanced features is expected to drive the market. 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. This application was sent in 2019 and included the Unyvero A50 Analyzer, the Unyvero L4 Lysator, and the Unyvero C8 Cockpit.

Due to these and other factors, the in vitro diagnostic market in China is expected to grow over the next few years.