IVD China MarketChina In-vitro diagnostics market is expected to be tripling its market size by the end of 2022 from 2016, according to a new report published by Research And Markets.
China In-Vitro Diagnostics sector is expected to grow at a double digit CAGR of 19.01% in the years to come. With such a rapid growth rate, China is poised to become the world’s largest In-vitro Diagnostics (IVD) market in the next few years for both domestic AND foreign IVD products.
The In-Vitro Diagnostics (IVD) market in China has been growing rapidly over the past few years and is expected to grow steadily in the coming future, driving by these segments such as
- Contagious disease testing
- Chronic disease testing, and
- Diagnosis in early stages of diseases
Some of the key factors driving the growth of China IVD market are the rising incidences of chronic lifestyle diseases, public health awareness, growing aging population, demand of tests in rural areas stimulated by the healthcare reform plan, increasing demand from the middle class for high-end products and an increase in the number of hospitals and independent clinical laboratories.
China Med Device, LLC, specializes in CFDA registration related services and market research for IVD products in China. If you would like to tap into China’s fast-growing IVD market and accelerate your product’s entry in China, please contact us at info@ChinaMedDevice.com or visit us at https://www.ChinaMedDevice.com.