Due to the rising demand for precise and reliable diagnostic tests, the adoption of cutting-edge diagnostic technologies, and the increasing prevalence of chronic diseases, the Asia Pacific in-vitro diagnostics market is estimated to grow at a CAGR of 4.67% from 2023 to 2031 and reach a valuation of 23.01 billion by 2031, up from US$ 15.5 billion by 2022.
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India, China, and Japan are the primary countries ruling the Asia Pacific in-vitro diagnostics industry. Japan holds a revenue share of 28% of the in-vitro diagnostics market in APAC. This is due to the fact that these nations have sizable populations and are experiencing a sharp rise in the prevalence of chronic diseases, which is driving up demand for diagnostic testing. India has 118 million hospital admissions and an expected 425 million outpatient visits in 2021, compared to nearly 215 million hospital admissions in China. Given that diagnostics are crucial for disease diagnosis, treatment monitoring, and disease management, this sizable patient pool has been a major driver of the IVD business.
In the Asia Pacific region, the prevalence of chronic diseases like diabetes, heart disease, and cancer has raised the demand for IVD tests. According to the International Diabetes Federation, 578 million persons in the Asia Pacific area are likely to have diabetes by 2030, up from an estimated 463 million in 2021. Similar to other major health issues, cancer is a major issue in the region. According to research by the International Agency for Research on Cancer, the Asia Pacific in-vitro diagnostics industry accounts for about half of all new cancer cases worldwide.
The In-Vitro Diagnostics (IVD) market in the Asia Pacific region is made up of both large enterprises with diverse lines of business and smaller but specialized competitors. The leading companies in the APAC in-vitro diagnostics market are Roche Diagnostics, Sysmex Corporation, Abbott Laboratories, and Siemens Healthineers. In order to preserve their market position, these businesses are continually engaged in creating cutting-edge IVD technologies, diversifying their product offerings, and making research and development investments.
Numerous smaller businesses that target specialized niche markets are present in the Asia Pacific in-vitro diagnostics market. By providing specialized goods and services that cater to the particular requirements of their target customers, these smaller enterprises compete with larger businesses. For instance, in July 2022, Cambridgeshire-based Paragraf announced plans to create a new line of in-vitro diagnostic tools based on graphene that will deliver results in a matter of minutes. The business launched a two-year project to create a combination PCT/CRP proof-of-concept test that can distinguish between bacterial and other illnesses.
In July 2022, in order to create an in-vitro diagnostic (IVD) tool that can help identify male infertility, Spermosens, Malmö University, and Saint Louis University (SLU) joined forces with Cellink. As part of the partnership, the businesses will cooperate to create diagnostic tools and point-of-care gadgets, such as electrochemical systems, printable bioink, and optical gadgets.
Based on Product
The reagents segment held a share of more than 75% of the Asia Pacific in-vitro diagnostics industry. Reagents are crucial components of diagnostic tests, and the region’s reagents market is expanding owing to the rising demand for reliable and accurate diagnostic tests. The instrument segment, however, is anticipated to develop at the highest CAGR over the next few years.
Based on Technique
With a 29% market share, immunodiagnostics is likely to rule the IVD industry in the Asia Pacific. This expansion is linked to the rising incidence of infectious and chronic diseases and the requirement for prompt and precise diagnosis. Immunodiagnostics uses antibodies, a technique that has grown in popularity in the area, to identify antigens in patient samples.
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Based on End-User
Hospitals are the main consumers and producers of In-vitro diagnostics.
With a 40% market share, the hospital segment is likely to rule the Asia Pacific in-vitro diagnostics market. The implementation of cutting-edge diagnostic technologies and the rising demand for healthcare services both contribute to the expansion of this market.
- Agilent Technologies, Inc.
- Becton Dickinson and Company
- bioMérieux SA
- Bio-Rad Laboratories, Inc
- Charles River Laboratories
- Danaher Corporation
- F. Hoffmann-La Roche Ltd.
- Quest Diagnostics
- Quidel Corp.
- Siemens Healthineers
- Sysmex Corp.
- Other Prominent Players
Market Segmentation Outline
By Product & Services
- Molecular Diagnostics
- Tissue Diagnostics
- Clinical Chemistry
- Cancer diagnostics
- Blood glucose monitoring
- Human genetic testing
- Hepatitis tests
- Infectious Diseases diagnostics
- Cardiac Diseases
- Nephrological Diseases
- Gastrointestinal Diseases
- Standalone Laboratories
- Academic And Medical Schools
- Point Of Care
- South Korea
- Australia & New Zealand
- Rest of Asia Pacific
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