China IVD Market to See Three-Fold Increase by Late 2022, Predicts Renub Research in Its Cutting-Edge Study Available at MarketPublishers.com30 May 2017 • by Natalie Aster
LONDON – The in-vitro diagnostics (IVD) market in China is predicted to experience a three-fold increase by late 2022. This market is set to grow at an impressive 19.01% during 2017-2022. Due to high growth rates, China is likely to emerge as the global biggest IVD market in the coming few years for both foreign and domestic IVD products.
China’s IVD market gas been witnessing rapid growth during the past several years and is anticipated to maintain robust growth in the years ahead, with lucrative growth opportunities in sectors like chronic disease testing, contagious disease testing and also diagnosis in early stages of disease.
Factors propelling growth in the Chinese IVD market include enhancing public health awareness, increasing prevalence of chronic lifestyle diseases, rapidly aging population, strong demand for tests in rural areas fueled by the healthcare reform plan, escalating demand for high-end products from the middle-class as well as increasing number of independent clinical labs and hospitals.
At present, the immunoassay sector captures the biggest share of the Chinese IVD market, however, after 2018 the sector’s share is expected to decline.
The cutting-edge research report “China In-Vitro Diagnostics (IVD) Market, Forecast, Companies Analysis, Registration Rules” created by Renub Research offers a granular analysis of the current scenario in the Chinese market for IVD. It touches upon the major market aspects, presents updated statistics on the domestic market performance, examines the main market growth influencing factors and delves deep into the market segmentation. The report highlights the competitive landscape and regulative framework, identifies top players and presents access to detailed forecasts through 2022.
Visit the Renub Research catalogue at MarketPublishers.com to gain access to a broad range of topical research reports prepared by this publisher.