Immunodiagnostics is a class of in vitro diagnostics that utilizes antigen-antibody reaction as its primary means of detecting infectious diseases, tumors, diabetes, proteins, therapeutic drugs, and allergens. Immunodiagnostics tests are analytical methods that require different immunodiagnostics instruments and antibodies as reagents against the desired antigens to be detected. The test results are used to diagnosis diseases, and they have widespread clinical applications. Immunodiagnostics tests are also helpful in the field of forensic science, environmental science, and food analysis.
The rate of chronic diseases and infections in China has increased significantly in the past few years. Therefore, there is an increase in the demand for immunodiagnostics tests to detect diseases at an early stage, driving the immunodiagnostics market in China.
Technavio's analysts forecast the immunodiagnostics market in China to grow at a CAGR of 16.6% over the period 2014-2019.
Covered in this report
The report covers the current scenario and the growth prospects of the immunodiagnostics market in China for the period of 2015-2019. To calculate the market size, the report considers revenue generated through the sales of immunodiagnostic test products. Based on technique, the market is segmented into the following:
Technavio Announces the Publication of its Research Report – Immunodiagnostic Market in China 2015-2019
Technavio recognizes the following companies as the key players in the Immunodiagnostic Market in China: Abbott Diagnostics, Beckman Coulter Diagnostics, Roche Diagnostics and Siemens Healthcare Diagnostics
Other Prominent Vendors in the market are: BioSino Bio-technology & Science, DiaSorin, Immunodiagnostic System Holdings (IDS), Mindray Medical International, Shanghai Kehua Bio-engineering and Sichuan Maccura Biotechnology
Commenting on the report, an analyst from Technavio’s team said: “The immunodiagnostics market in China is an attractive market for the foreign players, owing to the increasing Chinese population, increasing urbanization, accelerated rate of diseases, and increasing aging population. There are many local players in this market, but most lack quality due to less technology resources and funding. Well-established multinational companies are preferred worldwide due to their reputations and perceived brand value. In spite of having an edge on local players in terms of quality, diverse product portfolios, and brand value, entering the Chinese market is difficult for the international players because of the regulating policies by the government. Partnerships or acquisitions can help the multinationals eliminate the entry barrier. Thus, M&A has become an increasing trend in China.”
According to the report, China ranks first worldwide for its population. Urbanization in China is resulting in lifestyle changes, including unhealthy eating habits and smoking, which lead to an increase in health issues such as obesity, diabetes, cardiac problems, and cancer. Access to healthcare services is important and can be improved by providing insurance and coverage. Healthcare in China is associated with high out-of-pocket payments; however, the government of China is trying to provide universal coverage through its reforms and is encouraging private participation as the population is increasing every year. According to China's healthcare system reforms, around two thirds of the budget will be allocated to subsidized insurance plans, reducing out-of-pocket payments.
Further, the report states that decline in imports of medical devices will reduce the revenue generation of the foreign-based players from China.
Abbott Diagnostics, Beckman Coulter Diagnostics, Roche Diagnostics, Siemens Healthcare Diagnostics, BioSino Bio-technology & Science, DiaSorin, Immunodiagnostic System Holdings (IDS), Mindray Medical International, Shanghai Kehua Bio-engineering, Sichuan Maccura Biotechnology
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