In Vitro Diagnostic Industry in China - Clinical Chemistry XIV

3.2.2 Challenges and Opportunities in the Political and Economic Environment

Since the end of 2019, biochemical diagnosis companies have faced severe challenges due to the impact of the political and economic environment. All of the more than 280 operating companies were affected to different extents, especially for some small and micro-innovative companies, they have the problems of capital operation, raw material shortage, staff employment, and unsmooth supply chain, making them difficult to run. As an important part of the socialist market economy, the private enterprises are under unprecedented pressure. Affected by the political and economic environment in the past 2 years, the outpatient visits in hospitals dropped sharply, and the entire biochemical market has been in a downturn. Only a few companies have developed the diagnostic products for COVID-19 in time and achieved the rapid transformation to increase their operating incomes to a certain extent.

From 2019 to 2020, all people from the central government to general public have known in vitro diagnosis and its important roles, which will promote the healthy development of the in vitro diagnosis industry in the future, and has a practical significance for revitalizing the in vitro diagnosis industry and the far-reaching significance of creating a favorable development environment. The Chinese government has begun to increase the construction of public health, such as building and upgrading public health centers and infectious disease hospitals in various provinces, which will require a large amount of in vitro diagnostic equipment and testing reagents. In the future, people will pay more and more attention to their own health, and physical checkup will become people's daily needs. As the most important part of routine physical examination, biochemical diagnosis will become one of the important factors to increase the market share of biochemical products in the future.

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