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    Asia Pacific In Vitro Diagnostics (IVD) Market Forecast 2028 By Product (Reagents & Kits, Instruments), By Test Type (Clinical Chemistry, Immunoassay/Immunochemistry, Molecular Diagnostics, Hematology, Urinalysis), By Application (Oncology, Infectious Diseases, Diabetes, Cardiology, Nephrology, Autoimmune Diseases, Drug Testing/Pharmacogenomics), By End-use (Hospitals, Diagnostics Laboratories, Academic & Research Institutes), Research Report, Country Outlook (China, Japan, India, South Korea, Australia, Indonesia, Singapore, Malaysia, Taiwan, Thailand, Philippines), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share
    Published Date: September 2022   |   Report ID: GR1012   |   Delivery: PDF  Request Free Sample

    Asia Pacific In Vitro Diagnostics Market size surpassed USD 17 billion in 2021 and is projected to exhibit a CAGR of 3% between 2022 and 2028.

    Rising prevalence of infectious diseases, including the COVID-19 outbreak, has accelerated investments in R&D activities, enhancing the regional market trends. With the urgency to address prevailing healthcare concerns, the demand for accurate in vitro diagnostics products is gaining traction. Regional governments are undertaking various initiatives to support domestic production of improved testing equipment.

    Asia Pacific In-Vitro Diagnostics Market

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    Companies are collaborating with regional governments to offer distinguished services to the expanding patient base. To cite an instance, in August 2022, Thermo Fisher Scientific announced that it has joined hands with India’s National Forensic Sciences University (NFSU) for setting up a first-of-its-kind diagnostic facility in Gujarat. The pharma giant will equip the facility with real-time PCR instruments, analyzers, and other testing equipment for forensic scientists.

    Asia Pacific Market, By Product Type

    The instrument segment accounted for USD 5.5 billion revenue in 2021, owing to rising focus towards the development of advanced devices, supporting the increased need for early diagnosis of disorders. Growing product adoption across diagnostics centers and hospitals during the COVID-19 pandemic has strengthened the market outlook. New product launches represent the substantial growth opportunities for industry participants.

    Asia Pacific In Vitro Diagnostics Market, By Test Type

    The molecular diagnostics segment will observe around 3.5% growth rate during the forecast timeline. Molecular diagnostic tests are used to detect certain sequences in RNA or DNA, enabling doctors to detect abnormalities. Sales of these products will grow significantly due to the increased burden and spread of the COVID-19 pandemic. Additionally, to reduce the burden of COVID-19 pandemic major companies in this region focusing on introduction of devices that deliver faster results.

    Asia Pacific Market, By Application

    The Asia Pacific in vitro diagnostics market from drug testing/pharmacogenomics applications segment will generate over USD 1.5 billion revenue by 2028. The upward curve across this application is due to increasing cases of drug abuse in the region. There is a growing need for comprehensive drug testing legislation in order to limit cases and provide proper treatment. Regional youth are heavily reliant on alcohol, opioids, cannabis, and drug abuse is more prevalent the country.

    Asia Pacific Market, By End-Use

    The Asia Pacific IVD market revenue of hospital end-use segment will cross USD 9 billion by 2028, due to the increasing number of hospitals and independent testing laboratories in nations such as Singapore and India. Hospitals across emerging economies are attracting thousands of international medical tourists, who are being tested and treated for a host of chronic conditions. High demand for diagnostics amid COVID-19 pandemic coupled with increasing investment in healthcare industry will boost IVD products consumption. In addition, rising number of hospital admissions, coupled with growing geriatric population, is an indicator for continuous market growth.

    Asia Pacific Market, By Country

    Japan in vitro diagnostics market revenue was around USD 3.5 billion in 2021, with the focus on providing high-quality care to every citizen throughout the nation. Increased proliferation of independent diagnostic centers, hospitals, and academic institutes is responsible for a steady growth of the regional market. Government funding on healthcare infrastructure and launch of new diagnostic kits in the country will fuel the market forecast. Several countries including India, Japan, and China are witnessing increasing demand for in vitro diagnostic tests due to surging geriatric population and escalating prevalence rates of infectious & chronic diseases.

    Competitive Industry Landscape

    Some of the leading companies involved in the Asia Pacific IVD market include F. Hoffmann-La Roche AG, Abbott, Danaher, Siemens Healthineers, BioMerieux, DiaSorin, Bio-Rad Laboratories, Sysmex Corporation, Thermo Fisher Scientific, Qiagen, Ortho Clinical Diagnostics, Becton, Dickinson and Company.

    These companies are making a persistent effort to cater to the diversified needs of patients. Recently, in July 2022, DiaSorin announced that it has received the FDA 510(k) approval for the commercial launch of its host-protein signature-based product. The assay will be the premier automated product to help clinicians differentiate between viral and bacterial infections.

    Frequently Asked Question(FAQ) :

    What is the value of APAC in-vitro diagnostics industry?
    The market value for in-vitro diagnostics in Asia Pacific has exceeded USD 17 billion in 2021 and is projected to witness a CAGR of over 3% between 2022 and 2028.
    Why is the demand for molecular diagnostics increasing in the Asia Pacific in-vitro diagnostics sector?
    The industry share for in-vitro diagnostics in Asia Pacific from molecular diagnostics tests is anticipated to register more than 3% CAGR over 2022-2028, with increasing prevalence of infectious diseases and the onset of the COVID-19 pandemic.
    How is Japan in-vitro diagnostics market growing?
    The industry value for in-vitro (IVD) diagnostics in Japan was more than USD 3.5 billion during 2021 and is growing due to high geriatric population and increased investments in diagnostic centers, better hospital infrastructure and continuous R&D initiatives.
    Who provides in-vitro diagnostic products in Asia Pacific market?
    Abbott, BioMerieux, Bio-Rad Laboratories, DiaSorin,F. Hoffmann-La Roche AG, Danaher, Siemens Healthineers, Sysmex Corporation, Thermo Fisher Scientific, Qiagen, Ortho Clinical Diagnostics, Becton, Dickinson and Company are some of the companies operating in the market.

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