Dublin, May 14, 2018 (GLOBE NEWSWIRE) — The “IVD in China” report has been added to ResearchAndMarkets.com’s offering.
In 2017, the IVD market in China was estimated at $3,200 million and is expected to show annual growth of 13.2% to reach $5,955 million in 2022. Supporting growth will be a modernizing healthcare infrastructure and steady migration from manual to automated processes.
China offers a large market opportunity but much of this potential remains untapped. With one fifth of the world’s population, it is the second largest clinical laboratory market in Asia and one of the world’s fastest growing. But by world standards, the healthcare system needs modernization and expansion to serve rural populations. Even in the major cities, most residents cannot afford healthcare.
In the last 30 years, the rate of Chinese economic growth has been impressive, averaging 8% – 10% growth in GDP per year. The economy has grown more than 10 times during that 30-year period, with China’s GDP now exceeding $9 trillion. Most analysts project that based on these GDP measures, China will become the largest economy in the world by mid 21st century. However, China’s state spending on health has failed to keep up with its booming economy.
In 2006, China’s government health expenditure was less than 1% of GDP, ranking China 156th out of 196 countries surveyed by the WHO. While this has expanded in recent years, the amount is still minimal considering the size of the population and the huge gap to be filled. Furthermore, government spending has tended to favor urban populations; according to the WHO, only 25% of public-health money was devoted to rural areas, home to roughly 57% of the population.
IVD market growth in China will remain considerably higher than in the mature markets of U.S. and Western Europe, offering a significant opportunity to manufacturers able to work within the Chinese infrastructure. Through the foreseeable future, China will continue to offer one of the fastest growing markets for IVD products, even for western-style lab instrumentation and advanced tests outside of the scope of recent public healthcare network expansion.
This report provides the following market data:
- Market by Province (Guangdong, Shangdong, Henan, Sichuan, Jiangsu, Hebei, Hunan, Anhui, Zhejiang, Others)
- Market by Rural/Urban
- Regulatory Process for IVD Products in China
- Companies Operating in China
- Disease Statistics in China
- Healthcare Spending in China
- Economic Statistics
- Market Drivers and Restrainers
- Venues for IVD Test Usage
Specific Market Data include the following segments:
- China General Chemistries Market
- China Blood Gases Testing Market
- China Urinalysis Testing Market
- China POC Glucose Market
- China POC Infectious Disease Market
- China POC Other Market
- China Infectious Disease Immunoassay Market
- China Blood Bank Immunoassay Market
- China Other Diseases Immunoassay Market
- China Molecular Microbiology Market
- China Blood Bank Molecular Market
- China HPV Molecular Market
- China Cancer Molecular Market
- China Other Molecular Market
- China ID/AST Market
- China Molecular Microbiology Market
- China HPV Testing Market
- China CTC Testing Market
- China Other Histology/Cytology Market
Companies Mentioned
- Abbott Laboratories
- Arkray
- Becton, Dickinson & Co.
- Bio-RAD Laboratories, Inc.
- bioMrieux, Inc.
- Danaher Corp.
- Hologic, Inc.
- Horiba Medical
- Instrumentation Laboratory
- Laboratory Corporation of America
- Luminex Corporation
- MedMira
- Mindray Medical International, Ltd.
- Myriad Genetics
- Ortho Clinical Diagnostics
- PerkinElmer
- Promega Corporation
- Qiagen N.V.
- Roche
- Shanghai Kehua Bio-engineering
- Siemens AG
- Sysmex Corp.
- Thermo Fisher Scientific
For more information about this report visit https://www.researchandmarkets.com/research/cx8tk4/ivd_market_in?w=12
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Related Topics: In Vitro Diagnostics
