China In Vitro Diagnostics Market 2030: Trends Shaping the Future
China IVD Market Size & Trends The China in vitro diagnostics (IVD) market size was valued at USD 5.5 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 6.4% from 2024 to 2030. The growth is attributed to the increasing prevalence of chronic infectious diseases such as diabetes, and cancer which is at upsurge among the geriatric population mainly. These diseases can be diagnosed and monitored using in vitro diagnostics (IVD) owing to the increasing demand for IVD kits. In addition, the COVID-19 pandemic highlighted the demand for in vitro diagnostics. With the growing population in China, the need for healthcare expenditure is also accelerating. This surge is expected to fuel the market growth given the significant importance of early diagnosis is in reducing treatment costs and mortality rates. Furthermore, China actively focuses on developing novel technologies and enhancing R&D activities to improve its healthcare facilities. Major IVD...