The Annual Report of China IVD Industry 2024 – Chapter 2: China IVD Market

In 2024, China’s IVD market size is expected to be less than RMB 120 billion, remaining flat compared to 2023. Domestic brands account for approximately 50% of the market. In the first three quarters of 2024, the total revenue of listed IVD companies in China reached RMB 82.76 billion, a year-on-year decrease of 3.51%; net profit attributable to shareholders was RMB 10.58 billion, a year-on-year decrease of 18.03%.  

In the next 3–5 years, significant market opportunities in China’s IVD sector are expected in elderly chronic diseases, cancer detection, infectious diseases, home self-testing, pharmacogenomics, automation/lines, and reproductive health. These segmented testing areas are primarily related to health and disease management.  

Upstream and midstream market size

In 2024, the size of China’s upstream IVD market is below RMB 20 billion, staying the same compared to last year. Domestic brands account about 20–30% market share. With improvements in product quality, technological capabilities, and production capacity of domestic raw material manufacturers—as well as leading IVD reagent companies increasingly integrating upstream and expanding the range of self-produced materials—the market share of domestic IVD reagent brands continues to grow.  

In 2024, the share of the biochemical testing market is less than 20%, with a decline of more than 5%. Domestic brands account for 60–70% of the market. Biochemical testing demand has not significantly increased, and the overall test volume in hospitals has remained relatively stable. With the implementation of national VBP for kidney function and cardiac enzyme tests, pricing structures are being reshaped, resulting in market restructuring. Large companies have gained more market share through VBP but are also facing new challenges in optimizing cost structures and production efficiency.  

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