Independent Clinical Laboratory Market Outlook 2016 Demand Supply and 2021 Opportunities For China

Owing to a large population base, uneven distribution of medical resources among regions, aging population, and continuous advance of health care reform, the Chinese independent clinical laboratory market size has been growing radically in recent years, reaching about RMB6.5 billion with a year-on-year increase of 37.4% in 2015; it is expected to grow rapidly at a rate of 30%-40% over the next three to five years and report RMB29.2 billion in 2020.

There are approximately200 independent clinical laboratory enterprises in China, mainly comprehensive diagnostic chains and special diagnostic enterprises. KingMed Diagnostics, Dian Diagnostics, ADICON Clinical Laboratories, and DaAn Health (invested by Da An Gene), which hold a combined market share of 70% and all adopt chain-based model of comprehensive diagnostic services. By the end of 2015, the four enterprises separately had 31, 26, 20 and 8 independent clinical laboratories. While expanding clinical laboratory services actively, all companies are deploying ” laboratory +” industrial chain vigorously.

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As a titan in China independent clinical laboratory industry, KingMed Diagnostics earned the revenue of RMB2.5 billion to RMB3 billion in 2015 with 40% market share. In the past two years, KingMed Diagnostics has been involved in production and sale of in vitro diagnostic products through acquisitions and independent R & D; moreover, it has made layout on “laboratory + Internet” services by acquiring GoHeath (Guangzhou Jinzhun), access to Tmall’s online pharmacies, etc.

Second to KingMed Diagnostics, Dian Diagnostics gained the revenue of RMB1.079 billion from independent clinical laboratory in 2015. In recent years, the company has implemented the strategy of horizontal expansion, vertical digging, technological innovation and industrial chain integration aggressively. It has arranged the ” diagnosis +” ecosystem which refers to the expansion of other related services such as health management, judicial diagnostics, medicine CRO, cold chain logistics and mobile health with a focus on “diagnostic services + products”. Since November 2015, the company has acquired Freda,Yuanding, ShengshiKehua, Faith Medical, Kingpe and many other high-quality IVD distributors for over RMB1 billion totally. In 2015, the company launched a new mode for chain expansion of physical examination services — a health management center (Hangzhou Full-process International Health Medical Management Center Co., Ltd.) established with Hangzhou Jiebai, Baida Group. Meanwhile, Dian Diagnostics signed strategic cooperation agreements with The Johns Hopkins Hospital and AliHealth respectively to explore the “diagnosis + Internet” business mode energetically. At the beginning of 2016, Dian Diagnostics collaborated with Tigermed to set up a joint venture — Shanghai Teddy Medical Institute Co., Ltd., marking the former’s foray into pharmaceutical CRO.

The third-ranked ADICON Clinical Laboratories which still enjoys superiority in East China has not realized the distribution of nationwide chain operation, but its special laboratory items have showed strong competitiveness. The company is not only authorized by the global pharmaceutical giant Roche to become “Roche’s Demonstration Laboratory in China”, but also cooperates with Siemens Healthineers, Japan SRL, South Korea SCL, France Bio Mérieux, etc. in medical diagnostics.

Being bullish about the prospects of the Chinese independent clinical laboratory market, a number of small and medium Chinese independent clinical laboratory companies have drawn or plan to draw support fromthe capital market to further expand the clinical laboratory market. In 2014-mid-2016, Surexam Biotechnology, Shanghai Labway, Beijing Lepu, Shanghai Biotecan, Jiangsu Superbio, Beijing Lawke and other companies went public at NEW OTCBB in China. Wherein, Jiangsu Superbio witnessed the fastest revenue growth in clinical laboratory, namely the year-on-year surge of 161.0% in 2015; Shanghai Biotecan took the second place with the CAGR of 92.1% in 2013-2015. Shanghai Labway Clinical Laboraory obtained the clinical laboratory revenue of RMB127.8 million in 2015, but the revenue growth has slowed down due to the construction and expansion of laboratories in recent years.

The report focuses on the following aspects:

• Policy environment, international market, development status, and competitive landscape of China’s independent clinical laboratory industry.
• Upstream and downstream markets of China’s independent clinical laboratory industry and their impacts.
• Operation, and independent clinical laboratory business of 19 relevant enterprises in China.
• Development outlook of China’s independent clinical laboratory industry in 2016-2020 and operational comparison among key players.

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Major Points from Table of Contents

1. Overview of Independent Clinical Laboratory

2. Overview of China Independent Clinical Laboratory Industry

3. Upstream and Downstream Markets of China Independent Clinical Laboratory Industry

4. Key Players

5. Forecast and Outlook

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