Agilent Technologies Inc. (NYSE: A) today announced a new organizational structure to accelerate the company's operational transformation to drive higher growth through a market-focused, customer-centric enterprise strategy. The new structure, including new leadership roles, takes effect immediately.

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.

In 2019-2020, the industry consolidation has driven the "chain reaction" of IVD industry and becomes a mainstream.

Published by Springer-Verlag, In Vitro Diagnostic Industry in China is a specialized English monograph that fills a gap and provides a detailed introduction to the history, current status, outstanding companies and products of China's IVD industry.

Biochemical diagnostic reagents, as one of the main categories of diagnostic reagents, are characterized by a large population coverage, a high proportion of services and service users and a huge market size.

Biochemical diagnosis is often used for the testing of basic items such as liver function, kidney function, blood glucose, and blood lipid. By measuring the content (activity) of specific biochemical substances, people's physical conditions can be assessed and the relevant causes can be identified.

From 2019 to 2022, the market experienced substantial growth, surging from $124.7 million to $1,155.6 million at an impressive Compound Annual Growth Rate (CAGR) of 110.1%. Projections indicate a continued expansion, reaching an estimated $75,568.8 million by 2030, albeit with a moderated CAGR of 39.2%, signaling a deceleration in market growth.

Next-generation sequencing (NGS) is a high-throughput method for DNA sequencing that has largely superseded traditional first-generation sequencing methods.

The immunoassay market has been the main driven force for the development of the in vitro diagnostics industry in recent years.

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