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China Manufacturing 2025” promoting local R&D investments and increasing demand from Tier 1 & 2 Hospitals set to transform industry landscape
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Overall, the IVD market in China has great potential in many segments. The growth of the market is set to increase due to the increasing testing volume rather than the higher price in traditional segments and the popularization of advanced testing technology in emerging segments. In the context of the reform in public hospitals, the IVD industry is the direct beneficiary of the drug price policy, and is expected to gradually take on substantial growing force in the long run. Looking on the supply side, foreign companies seized the high-end market by leveraging their technical advantage to develop closed-end systems for their automatic analyzers. However, due to their lack of input on distribution channels and their high-priced products, they are likely to find it difficult to penetrate lower-end hospitals in the short term. The IVD market in China presents diversified growth potential for different tiers of competitors: domestic participants gain from the growth momentum for the low-end market, whereas foreign leading manufacturers dominate the high-end market, which is expected to become the new emerging market along with ever-improving localized service to meet various demands. Foreign companies dominate the high-end market by leveraging their technical advantage to develop closed-end systems for their automatic analyzers. The mid-to-low-end market is crowded with local participants, thus leading to fierce competition. China is currently facing a severe shortage of anatomic pathologists, which blocks patients’ access to quality care. The relatively small number of pathologists is often overworked. Also, penetrations of IVD devices have been on the lower side. At present, China has not yet issued a regulation on management standards for independent clinical laboratory which leads to varieties, where each laboratory to develops its own standards which are not uniform, and provide a narrow scope of services which does not reach the level of true clinical laboratory. Overall, the substitution devices developed by local companies are the most important factor in increasing the IVD market size, as it improves the accessibility of lower-level hospitals to advanced IVD technologies, thus boosting their need to update IVD products. What target audience question(s) does this deliverable answer; What are the key healthcare trends that could impact the China IVD market? What are the market drivers and restraints that are impacting the market growth? What are the unmet needs and the opportunities for the existing and emerging participants? What are the segment shares of the key market participants? How are companies dealing with the challenges in the market space? What are the future trends and the forecast scenario of the IVD in China?
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