Expected to grow annually at a rapid rate of 15%, the Chinese IVD market is projected to exceed USD 1 billion in three years time.

One of the fastest growing In Vitro Diagnostics (IVD) markets in the world, China’s demand for IVD analyzers and reagents continue to see double digit growth averaging 16% anually over the past 3 years. Reaching USD660 million in 2007, the market is expected to cross the USD1 billion mark in 2010.

According to Clearstate’s annual tracking of demand trends in over 800 healthcare facilities in China, approximately 3 billion IVD tests were conducted in 2007, representing almost 20% increase over the previous year.