Market Size of Asia Pacific In Vitro Diagnostics Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Market Size (2024) | USD 24.21 Billion |
Market Size (2029) | USD 31.94 Billion |
CAGR (2024 - 2029) | 5.70 % |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
Asia Pacific In-Vitro Diagnostics Market Analysis
The Asia Pacific In Vitro Diagnostics Market size is estimated at USD 24.21 billion in 2024, and is expected to reach USD 31.94 billion by 2029, growing at a CAGR of 5.70% during the forecast period (2024-2029).
The COVID-19 outbreak affected the Asia-Pacific in-vitro diagnostic market's growth adversely in its preliminary phase. However, this market gained traction due to the significant urge and rapid demand for newly launched emergency-use authorized in-vitro diagnostic tests for COVID-19 detection. For instance, in May 2022, Cipla Limited started the commercialization of the 'RT-Direct' multiplex COVID-19 RT-PCR Test kit in India in partnership with Genes2Me Pvt. Ltd. This kit was validated at an Indian Council of Medical Research (ICMR)-approved center. However, the rapid demand for newly launched emergency-use authorized in-vitro diagnostic tests for COVID-19 detection compensated for this detrimental impact. However, the market is growing at a stable pace due to a resumption of diagnosis procedures, manufacturing activities, and availability of products. It is expected to witness a similar trend over the coming years.
Further, the high cases of chronic diseases, the increasing use of point-of-care (POC) diagnostics, advanced technologies in vitro diagnostic products, and increasing awareness and use of personalized medicine and companion diagnostics are among the major factors driving the growth of the studied market. For instance, the 2021 International Diabetes Federation (IDF) projects that the number of people with diabetes in Southeast Asia will increase by 68%, reaching 152 million by 2045. The same report also reported that the Western Pacific region holds the third-highest prevalence of diabetes (11.9%) globally. The number of diabetic cases is estimated to increase in the Western Pacific region by 27%, reaching 260 million by 2045, and the prevalence of diabetes will increase by 21% in 2045. Such a high incidence of chronic diseases like diabetes in the given region is increasing the demand for diagnostics associated with the diseases.
Additionally, as per the article published in the Chinese Medical Journal in March 2022, China is experiencing a greater cancer incidence. In China, there were about 4.8 million new cancer cases in 2022, with lung cancer being the most prevalent type. Thus, the increasing incidence of cancer cases increased the demand for associated diagnostics, contributing to the market.
The strategies adopted by the market players, such as product launches, partnerships, and collaboration, are expected to propel the market's growth. For instance, in March 2021, OpGen announced that it had received regulatory approval from the Chinese National Medical Products Administration for its Curetis Unyvero System as an in-vitro diagnostics instrument. In April 2021, Otsuka Pharmaceutical Co., Ltd., in collaboration with Denka Company Limited, launched the Helicobacter Pylori test kit, QuickNavi-H. Pylori. It is a diagnostic kit that utilizes immunochromatography to confirm the presence or absence of Helicobacter Pylori antigens in a stool sample. The test kit will be used in medical institutions as it enables rapid evaluation in eight minutes by adding three drops of the sample liquid to the kit. Thus, the market can show significant growth over the forecast period due to these technological advances.
Thus, the reasons mentioned above may drive the market. However, stringent regulations regarding product approvals and cumbersome reimbursement procedures may slow the market's growth.
Asia Pacific In-Vitro Diagnostics Industry Segmentation
As per the scope of the report, in vitro diagnostics involve medical devices and consumables that are utilized to perform in-vitro tests on various biological samples. They diagnose various medical conditions, such as diabetes and cancer. The Asia Pacific In-vitro Diagnostics Market is segmented by test type (clinical chemistry, molecular diagnostics, immunodiagnostics, hematology, and other test types), product (instruments, reagents, and other products), usability (disposable IVD devices and reusable IVD devices), application (infectious disease, diabetes, cancer/oncology, cardiology, autoimmune disease, nephrology, and other applications), end user (diagnostic laboratories, hospitals and clinics, and other end users), and Geography (China, Japan, India, Australia, South Korea, and rest of Asia-Pacific). The report offers values (in USD) for the above segments.
By Test Type | |
Clinical Chemistry | |
Molecular Diagnostics | |
Immuno Diagnostics | |
Hematology | |
Other Test Types |
By Product | |
Instruments | |
Reagents | |
Other Products |
By Usability | |
Disposable IVD Devices | |
Reusable IVD Devices |
By Application | |
Infectious Diseases | |
Diabetes | |
Cancer/Oncology | |
Cardiology | |
Autoimmune Diseases | |
Nephrology | |
Other Applications |
By End User | |
Diagnostic Laboratories | |
Hospitals and Clinics | |
Other End Users |
By Geography | |
China | |
Japan | |
India | |
Australia | |
South Korea | |
Rest of Asia-Pacific |
Asia Pacific In Vitro Diagnostics Market Size Summary
The Asia Pacific in vitro diagnostics market is poised for significant growth over the forecast period, driven by a combination of factors including the rising prevalence of chronic diseases, advancements in diagnostic technologies, and increased awareness of personalized medicine. The market experienced initial setbacks due to the COVID-19 pandemic, but the rapid demand for emergency-use authorized tests helped mitigate these effects. The resurgence of diagnostic procedures and manufacturing activities has further stabilized the market. Key drivers include the high incidence of diabetes and cancer in the region, which has spurred demand for related diagnostics. Additionally, the adoption of point-of-care diagnostics and technological innovations are expected to enhance market growth.
The competitive landscape of the Asia Pacific in vitro diagnostics market is characterized by the presence of major players such as BioMérieux SA, Danaher, and Abbott Laboratories, among others. These companies are leveraging product launches, partnerships, and collaborations to strengthen their market positions. The market is also witnessing increased activity from mid-size and smaller companies introducing innovative products at competitive prices. Regulatory approvals and strategic collaborations, such as those seen with Mylab Discovery Solutions and Hemex Health, are further propelling market expansion. Despite challenges like stringent regulations and reimbursement issues, the market is anticipated to grow steadily, supported by a well-established healthcare infrastructure and rising R&D expenditures in countries like Japan and India.
Asia Pacific In Vitro Diagnostics Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 High Prevalence of Chronic Diseases
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1.2.2 Increasing Use of Point-of-care (POC) Diagnostics
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1.2.3 Advanced Technologies in In-vitro Diagnostic Products
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1.2.4 Increasing Awareness and Acceptance of Personalized Medicine and Companion Diagnostics
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1.3 Market Restraints
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1.3.1 Stringent Regulations Regarding Product Approvals
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1.3.2 Cumbersome Reimbursement Procedures
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1.4 Industry Attractiveness - Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD)
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2.1 By Test Type
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2.1.1 Clinical Chemistry
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2.1.2 Molecular Diagnostics
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2.1.3 Immuno Diagnostics
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2.1.4 Hematology
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2.1.5 Other Test Types
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2.2 By Product
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2.2.1 Instruments
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2.2.2 Reagents
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2.2.3 Other Products
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2.3 By Usability
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2.3.1 Disposable IVD Devices
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2.3.2 Reusable IVD Devices
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2.4 By Application
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2.4.1 Infectious Diseases
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2.4.2 Diabetes
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2.4.3 Cancer/Oncology
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2.4.4 Cardiology
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2.4.5 Autoimmune Diseases
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2.4.6 Nephrology
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2.4.7 Other Applications
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2.5 By End User
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2.5.1 Diagnostic Laboratories
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2.5.2 Hospitals and Clinics
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2.5.3 Other End Users
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2.6 By Geography
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2.6.1 China
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2.6.2 Japan
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2.6.3 India
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2.6.4 Australia
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2.6.5 South Korea
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2.6.6 Rest of Asia-Pacific
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Asia Pacific In Vitro Diagnostics Market Size FAQs
How big is the Asia Pacific In Vitro Diagnostics Market?
The Asia Pacific In Vitro Diagnostics Market size is expected to reach USD 24.21 billion in 2024 and grow at a CAGR of 5.70% to reach USD 31.94 billion by 2029.
What is the current Asia Pacific In Vitro Diagnostics Market size?
In 2024, the Asia Pacific In Vitro Diagnostics Market size is expected to reach USD 24.21 billion.