Asia Pacific In-vitro Diagnostics Market Report and Forecast 2024-2032

Asia Pacific In-vitro Diagnostics Market Outlook

The Asia Pacific in-vitro diagnostics market is expected to grow at a CAGR of 5.2% during the period 2024-2032. In-vitro diagnostics can help identify early warning signs and individual risk factors, generating new openings for prevention and early intervention. Some in-vitro diagnostics range beyond the laboratory, hospital or doctor’s office, enabling patients with chronic illnesses to self-monitor and manage their own conditions. Several leading companies offer in-vitro diagnostic (IVD) solutions that deliver rapid, sensitive results while minimizing cost and complexity. Modern in-vitro diagnostics (IVDs) enable better diagnosis for prevention and management of infectious and chronic diseases. These factors are expected to drive market growth.

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Market Likely to be Driven by Demand for Quality Medical Care and Improving Healthcare Infrastructure

Leading in-vitro diagnostics companies seek growth helpful to business plans; regions such as Asia Pacific offer significant market potential. In developing countries, rising levels of income and standards of living are expected to stimulate a new, health-conscious populace seeking quality medical care. Expanding healthcare infrastructure and improved quality of healthcare in countries like India are likely to be driving factors of the Asia Pacific in-vitro diagnostics market. Major companies like Fujifilm offer solutions based on the company’s dry chemistry technology; such solutions help medical practitioners who need immediate and dependable results for early patient treatment and care. The company offers high quality diagnostic reagents and tests. Solutions include:

Beta-Glucan Test - The Toxinometer MT-6500 based β-Glucan Test is an in vitro diagnostic test for the quantitative determination of (1→3)-β-D-glucan in serum or plasma.

µTASWako™ AFP-L3 Test - An in vitro diagnostic blood test for the risk assessment of developing Hepatocellular Carcinoma (HCC).

Autokit CH50 Assay - An in vitro diagnostic (IVD) test for the quantitative determination of total complement activity in human serum.

Total Bilirubin L-Type Assay - An in vitro diagnostic (IVD) test for the quantitative determination of Total Bilirubin (T-BIL) in serum.

In 2020, Sysmex Corporation reached an agreement to invest in Astrego Diagnostics AB to help commercialize a rapid drug susceptibility test1 that Astrego was developing for urinary tract infections.

In 2019, Sysmex Asia Pacific Pte Ltd announced that the Company had begun providing direct sales and support in India for Haematology Business. With over 1.3 billion people, India is the world’s second most populous nation, after China, and the nation’s real GDP continues to grow significantly. In addition to robust economic advancement, India is expanding its healthcare infrastructure and improving its quality of healthcare. Sysmex valued India’s market for in vitro diagnostics at around US$800 million. Moreover, the Company expected this market to grow at a rapid annual pace of around 12-16%, as India’s healthcare infrastructure expanded and its quality of healthcare improved.

In 2023, Fujifilm India Pvt Ltd. unveiled a new range of products at the 74th National Annual Conference of IRIA 2023. The latest portfolio included a range of products offering complete and integrated solutions for diagnostic purposes, including CT, MRI, X-ray, AI, PACS, endoscopy and ultrasound systems through the Scenaria View, Supria series, The Echelon Smart and Arietta series. Offering a diverse portfolio, the new range would include solutions pertaining to CT, MRI, Digital Radiography, AI, PACS, endoscopy, IVD and ultrasound systems.

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Market Segmentation

By product and service, the Asia Pacific in-vitro diagnostics market is segmented into:

• Reagents and Kits
• Instruments
• Software and Services

By technology, the market is classified into:

• Immunoassay/Immunochemistry
• Clinical Chemistry 
• Molecular Diagnostics
• Haematology
• Microbiology
• Blood Glucose Self-Monitoring
• Coagulation and Haemostasis
• Urinalysis
• Others

By application, the market is divided into:

• Infectious Diseases
• Diabetes
• Cardiology
• Oncology
• Autoimmune Diseases
• Nephrology
• Others

By end use, the market is segmented into:

• Hospitals
• Laboratories
• Homecare
• Others

By country, the market is classified into:

• China
• Japan
• India
• ASEAN
• Australia
• Others

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Key Industry Players in the Market

The report presents a detailed analysis of the following key players in the Asia Pacific in-vitro diagnostics market, looking into their capacity, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• Sysmex Corporation
• Medical & Biological Laboratories Co., Ltd.
• Voxtur Bio Ltd.
• Immulab
• FUJIFILM Corporation
• Others

The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report