China Independent Clinical Laboratory Market to Reach USD 3.4 Billion by 2018: Ken Research

The future prospect for independent clinical laboratory industry in China is very optimistic and key growth drivers for the market are increasing incidences of lifestyle diseases, mounting population of aged individuals, increasing health awareness, inclining disposable incomes, improving healthcare infrastructure, growing consolidations and strategic partnerships, accreditation of laboratories and automation and introduction of new technologies. These factors are expected to fuel the market growth of independent labs in China in the coming years.

Independent clinical laboratory space in China has been growing hastily. In 2013, the contribution of hospital labs and independent clinical labs in China was 99.4% and 0.6% respectively however in the US, the contribution by the hospital labs was 62.0% while that for independent clinical labs was 38.0%. The smaller contribution of the independent labs in China diagnostics market indicates the immense potential for a momentous growth in the independent clinical laboratory industry in China. Kingmed was the first independent clinical laboratory established in China in 1994. Currently, it is the dominant player in independent clinical laboratory industry in China.  Following Kingmed, several other independent clinical labs such as Adicon Clinical Laboratories, DiAn Diagnostics, DaAn Gene and others entered the market and demonstrated that independent clinical laboratory industry has great potential in China. 

Presently, Kingmed Diagnostics, Adicon, Dian Diagnostics, Daan Gene and Kindstar Global are the top 5 players in the independent labs industry in China. Independent medical labs market in China has grown at the stupendous growth rate during the period from 2008-2013 and it is further expected to grow at the CAGR of 45.9% during the period 2013-2018.

According to research report, “China Independent Clinical Laboratory Market Outlook to 2018 – Escalating Significance of Diagnostic Tests to Impel Growth” by Ken Research, “Independent clinical laboratory industry in China is poised to grow gradually and steadily in the coming 5 years. Its steady growth will be driven by an extensive consumer base. Streamlined distribution network has made diagnostic services easily accessible in various regions. An increase in the number of pathology laboratories and inclining number of hospitals, both in the public and the private sector will result in the enhancement of the overall healthcare infrastructure. Consequently, easier accessibility of healthcare will provide a significant thrust to the diagnostic service market in China”.

The report provides detailed overview on the independent clinical laboratory market in China and helps reader to identify the ongoing trends in the key segments of the industry and anticipated growth in future depending upon changing industry dynamics in coming years. The report will aid industry consultants and analysts, diagnostic companies, pharmacies, hospitals and other stakeholders to align their market centric strategies according to ongoing and expected trends in future.

KEY TOPICS COVERED IN THE REPORT

• The market size of the China Independent Clinical Labs Industry on the basis of Revenue Earned through Services, 2008-2013
• The market size of the China Independent Clinical Labs Industry on the basis of Expenditure Incurred on Equipments, 2008-2013
• Market segmentation of China Independent Clinical Labs Industry by services
• Market segmentation of China Independent Clinical Labs Industry by expenditure on equipments, 2008-2013
• Growth Drivers for the China Independent Clinical Labs Industry
• Recent Industry Activities in China Independent Clinical Labs Industry
• Market Share of Major Players in China Independent Clinical Labs Industry
• Company profiles of major players in the China Independent Clinical Labs Industry
• Future outlook and projections on the basis of revenue in China Independent Clinical Labs Industry, 2014-2018