In terms of the market share, the biochemical industry in the international market is highly concentrated. The “four giants” (Roche, Beckman, Siemens, and Abbott) have occupied more than 80% of the market share in the international market by virtue of their first-mover advantage. Domestically, many companies enter the IVD field due to low market entry barrier and high gross profit margins of biochemical reagents, so there are numerous enterprises.

On 30 July, Information Office of Shanghai Municipality held a press briefing, introducing the details of the “Several Opinions on Supporting the Innovation and Development of the Entire Biomedicine Industry Chain.”

China Association of In Vitro Diagnostics (CAIVD) and In Vitro Diagnostics Society of China Association for Medical Devices Industry jointly compiled this report.

Owing to the aging population, increasing awareness of disease management, and continuous technological advancements, the global in vitro diagnostic reagents market is expected to grow from USD 69.25 billion in 2019 to USD 90.65 billion by 2023, with a CAGR of 6.2%.

The 10th China IVD Industry Development Conference (CIIDC) is scheduled to be held at Primus Hotel Nanchang International Expo City from May 28 to 29 in 2023.

On 13 March, BioMérieux China signed a strategic cooperation agreement with Accunome Biotechnology Co., Ltd.