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China's Diagnostic Reagent Market Overview

Date:04-11-2013

A diagnostic reagent is a chemical compound that is used for the detection, analysis or production of a substance which indicates the presence of a specific condition. This process is generally used in a chemical reaction to indicate the presence of a special condition. Diagnostic reagents are used in laboratories to conduct tests which are necessary for diagnosing diseases. Without diagnostic reagents, it would be impossible for any laboratory to function. There are different types of diagnostic reagents that have different functions. Reagents can be broadly be classified as, chemical diagnostic reagents, biochemical diagnostic reagents and biological diagnostic reagents.

In recent years, China’s diagnostic reagent industry has been developing at a rapid rate. Some of the factors influencing the growth of the diagnostic reagent market in China are increase in population, growth in medical care, investments in R&D activities and increase in aging population. In 2011, the market for in vitro diagnostic reagents reached a value of 11.4 billion yuan. The market is expected to have a growth rate of 15-20% in the future to reach a value of 20.8 billion yuan by 2015.

There are four main categories of in vitro diagnostic reagents in the Chinese market and they are immune diagnostic reagents, biochemical diagnostic reagents, hematology diagnostic reagents and molecular diagnostic reagents. In 2012, sale of biochemical and immune diagnostic reagents accounted for 70% of total market share. In the Chinese market, the key players in the field of diagnostic reagents are Shanghai Kehua Bio-engineering Co. Ltd., Beijing Leadman Biochemistry Co. Ltd., Shanghai Fosun Pharmaceutical Co. Ltd., BioSino Bio-technology and Science Inc. and DAAN Gene Co., Ltd. As China’s in vitro diagnostic reagent is still at a nascent stage, there is a huge scope for growth in the market. Although China’s population accounts for 20% of the world’s population, China’s market share in in vitro diagnostics is less than 5%. In the coming years, with increasing market demand there is a huge potential for growth in the Chinese market.

Some of the major players in the field of diagnostic reagents in the world are Abbot Laboratories, Hoffmann-La Roche, Beckman Coulter Inc. and Siemens AG. With a strong economy, increased health awareness, medical reforms and increased spending in healthcare, the Chinese market is poised to grow at a rapid rate.

Explore the latest market research report on diagnostic reagent @ http://www.chinamarketresearchreports.com/114655.html.

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