Monday 7 September 2015, Amsterdam
The report recognizes the following companies as the key players in the Immunodiagnostic Market in China: Abbott Diagnostics, Beckman Coulter Diagnostics, Roche Diagnostics and Siemens Healthcare Diagnostics
Other Prominent Vendors in the market are: BioSino Bio-technology & Science, DiaSorin, Immunodiagnostic System Holdings (IDS), Mindray Medical International, Shanghai Kehua Bio-engineering and Sichuan Maccura Biotechnology
Commenting on the report, an analyst said: “The immunodiagnostics market in China is an attractive market for the foreign players, owing to the increasing Chinese population, increasing urbanization, accelerated rate of diseases, and increasing aging population. There are many local players in this market, but most lack quality due to less technology resources and funding. Well-established multinational companies are preferred worldwide due to their reputations and perceived brand value. In spite of having an edge on local players in terms of quality, diverse product portfolios, and brand value, entering the Chinese market is difficult for the international players because of the regulating policies by the government. Partnerships or acquisitions can help the multinationals eliminate the entry barrier. Thus, M&A has become an increasing trend in China.”
According to the report, China ranks first worldwide for its population. Urbanization in China is resulting in lifestyle changes, including unhealthy eating habits and smoking, which lead to an increase in health issues such as obesity, diabetes, cardiac problems, and cancer. Access to healthcare services is important and can be improved by providing insurance and coverage. Healthcare in China is associated with high out-of-pocket payments; however, the government of China is trying to provide universal coverage through its reforms and is encouraging private participation as the population is increasing every year. According to China’s healthcare system reforms, around two thirds of the budget will be allocated to subsidized insurance plans, reducing out-of-pocket payments.
Further, the report states that decline in imports of medical devices will reduce the revenue generation of the foreign-based players from China.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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