China Laboratory Developed Tests Market Size & Outlook
China laboratory developed tests market, 2018-2030 (US$M)
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China laboratory developed tests market highlights
- The China laboratory developed tests market generated a revenue of USD 689.3 million in 2023 and is expected to reach USD 1,142.9 million by 2030.
- The China market is expected to grow at a CAGR of 7.5% from 2024 to 2030.
- In terms of segment, molecular diagnostics was the largest revenue generating technology in 2023.
- Immunoassays is the most lucrative technology segment registering the fastest growth during the forecast period.
Laboratory developed tests market data book summary
| Market revenue in 2023 | USD 689.3 million |
| Market revenue in 2030 | USD 1,142.9 million |
| Growth rate | 7.5% (CAGR from 2023 to 2030) |
| Largest segment | Molecular diagnostics |
| Fastest growing segment | Immunoassays |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Immunoassays, Hematology and Coagulation, Molecular Diagnostics, Microbiology, Clinical Chemistry, Histology/Cytology, Flow Cytometry, Mass Spectroscopy |
| Key market players worldwide | Quest Diagnostics Inc, 23andMe Holding Co Class A, Abbott Laboratories, Guardant Health Inc, NeoGenomics, Siemens Healthineers AG ADR, Qiagen NV, Illumina Inc, Roche Holding AG ADR |
Other key industry trends
- In terms of revenue, China accounted for 5.6% of the global laboratory developed tests market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China laboratory developed tests market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 1,142.9 million by 2030.
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Laboratory Developed Tests Market Scope
Laboratory Developed Tests Market Companies
| Name | Profile | # Employees | HQ | Website |
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China laboratory developed tests 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 laboratory developed tests market will help companies and investors design strategic landscapes.
Molecular diagnostics was the largest segment with a revenue share of 24.62% in 2023. Horizon Databook has segmented the China laboratory developed tests market based on immunoassays, hematology and coagulation, molecular diagnostics, microbiology, clinical chemistry, histology/cytology, flow cytometry, mass spectroscopy covering the revenue growth of each sub-segment from 2018 to 2030.
Lung cancer is the leading cause of mortality in China. On the other hand, prostate cancer is the fastestgrowing cancer type in the country and the second leading cause of cancer mortality in the western world. According to the Chinese Medical Journal, the country accounts for 24% of newly diagnosed cancer cases and 30% of cancer-related deaths globally in 2020.
The government has undertaken various initiatives, such as free cervical cancer screening campaigns for women of all ages and collaborations with nonprofit organizations to improve the accessibility of the tests. Thus, increasing cases of cancer would boost the demand for LDTs for early and rapid diagnosis.
Furthermore, collaborations and product launches by market players have contributed to the country’s market growth. For instance, in January 2022, Thalys Medical Technology Group Corporation entered into an LDT agreement with Genetic Analysis AS to develop and evaluate diagnostic solutions for the human microbiota market in the country.
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Our clientele includes a mix of laboratory developed tests market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the China laboratory developed tests market , including forecasts for subscribers. This country databook contains high-level insights into China laboratory developed tests market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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China laboratory developed tests market size, by technology, 2018-2030 (US$M)
China Laboratory Developed Tests Market Outlook Share, 2023 & 2030 (US$M)
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