China Covid-19 Diagnostics Market Size & Outlook
China covid-19 diagnostics market, 2020-2030 (US$M)
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China covid-19 diagnostics market highlights
- The China covid-19 diagnostics market generated a revenue of USD 3,830.1 million in 2023 and is expected to reach USD 324.5 million by 2030.
- The China market is expected to grow at a CAGR of -29.7% from 2024 to 2030.
- In terms of segment, reagents & kits was the largest revenue generating product in 2023.
- Reagents & Kits is the most lucrative product segment registering the fastest growth during the forecast period.
Covid-19 diagnostics market data book summary
| Market revenue in 2023 | USD 3,830.1 million |
| Market revenue in 2030 | USD 324.5 million |
| Growth rate | -29.7% (CAGR from 2023 to 2030) |
| Largest segment | Reagents & kits |
| Fastest growing segment | Reagents & Kits |
| Historical data | 2020 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Instruments, Reagents & Kits, Services |
| Key market players worldwide | Thermo Fisher Scientific Inc, Hologic Inc, Roche, PerkinElmer, Veredus Laboratories, QuidelOrtho Corp, Quest Diagnostics Inc, Luminex, Labcorp Holdings Inc, Abbott Laboratories, 1Drop Diagnostics, ADT Inc, Mylab Discovery Solutions, Neuberg Diagnostics, Aldatu Biosciences, altona Diagnostics GmbH |
Other key industry trends
- In terms of revenue, China accounted for 11.6% of the global covid-19 diagnostics market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, India covid-19 diagnostics market is projected to lead the regional market in terms of revenue in 2030.
- Australia is the fastest growing regional market in Asia Pacific and is projected to reach USD 52.4 million by 2030.
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COVID-19 Diagnostics Market Scope
COVID-19 Diagnostics Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
China covid-19 diagnostics market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to covid-19 diagnostics market will help companies and investors design strategic landscapes.
Reagents & kits was the largest segment with a revenue share of 67.57% in 2023. Horizon Databook has segmented the China covid-19 diagnostics market based on instruments, reagents & kits, services covering the revenue growth of each sub-segment from 2020 to 2030.
The Chinese government was quick to implement a large-scale testing campaign throughout the country. As a part of this initiative, 11 million people from Wuhan were tested for the infection, where the first emergence of COVID-19 was reported. Such mass testing initiatives increased the demand for diagnostic products in the country.
China is a major exporter of COVID-19 test kits; more than 100 companies from China are exporting these kits. As of March 2020, 102 Chinese companies received approval to market their products in European markets.
Nanjing Liming Bio-products & BGI are two of the key companies exporting COVID-19 testing kits to France, Italy, Austria, Spain, Hungary, Iran, Japan, South Korea, and Saudi Arabia. In September 2020, BGI received an order for 1.5 million COVID19 test kits from Ethiopia.
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Target buyers of China covid-19 diagnostics market databook
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Our clientele includes a mix of covid-19 diagnostics market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the China covid-19 diagnostics market , including forecasts for subscribers. This country databook contains high-level insights into China covid-19 diagnostics market from 2020 to 2030, including revenue numbers, major trends, and company profiles.
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China covid-19 diagnostics market size, by product, 2020-2030 (US$M)
China COVID-19 Diagnostics Market Outlook Share, 2023 & 2030 (US$M)
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