Asia-Pacific In Vitro Diagnostics Market: Industry Size, Segments Overview, Business outlook, Trends, Global Forecast 2023

The objective of this report is to identify the Trend, Forecast, Competitive Analysis, and Growth Opportunity of Asia-Pacific In Vitro Diagnostics Market.
Years considered for this report –
• Base year 2018
• Trend period 2014 – 2017
• Forecast period 2018 – 2025

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Asia-Pacific In Vitro Diagnostics (IVD) Market Insights
Due to high density of population and the increase in healthcare expenditure, Asia Pacific has been in focus from the last 2 decades. The disease pattern has also changed where new technologies are being used to diagnose more cases. In a survey conducted 6 years back in APAC countries, regions such as China, Hong Kong, and Taiwan (North Asia), and Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam (Southeast Asia). Showed a growing trend towards COPD. The overall estimated prevalence of COPD was 6.2%, ranging from 4.5% in Indonesia to 9.5% in Taiwan. Physician diagnosis was higher in North Asia (72–93%) than in Southeast Asia (19–60%), with the exception of Vietnam (92%). Studies estimate that 62 per cent of all overweight people reside in a developing country, with Asia and the Pacific as the home to the largest absolute number of overweight and obese people at about 1 billion people i.e. 2 in 5 adults in Asia Pacific. UNAIDS reported that in 2017, there were an estimated 280,000 new HIV infections in the Asia-Pacific, bringing the total number living with HIV/AIDS in the region to 5.2 million. In 2017, approximately 170,000 people died from AIDS-related illnesses in the region, a 39% decline in deaths since 2010, but in some countries AIDS-related deaths have increased. Singapore reported cancer (29.1%) as the leading cause of death in 2017, followed by heart and hypertensive diseases at 23.8% and pneumonia at 20.1%. With increase in detection of disease, increases the need of advanced diagnostics.

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AI is making inroads in IVD in APAC. In recent times, machine learning software for primary diagnosis and clinical research are being developed all over APAC. One thing is certain that pathologists will see AI applied to their work in the next few years. A growing body of research shows computer algorithms may soon outperform human pathologists in both accuracy and speed. Major markets such as China, Japan, Singapore and Australia are expected to be the early adopters of such technology.

The market is divided in terms of consumption and manufacturing sectors. While Indonesia, China, India, Japan, Korea and Australia are major manufacturing markets for APAC and West, the remaining regions are consumption market which purchases the equipment from the IVD manufacturers. The report from Stratview consider both sides of the industry (consumption and manufacturing) and focuses on the import/export destinations of the major market, technology, disease pattern, usage of products & Services and the end user perspective for the next 7 years i.e. till 2025.

China, India, Japan and Australia remains the most attractive markets in APAC. Apart from these, countries such as Philippines, Malaysia, and Singapore are gaining focus, as many of these regions have recorded high number of cases of diabetes, heart related issues, obesity, smoking related respiratory issues lately. Considering the growth of economy in these regions, demand for IVD and spending power of people and coverage by the Government, these markets will attract more players in the future.

Point of care testing is one of the most attractive segments in APAC. Australia, Indonesia are few of the advanced markets where adoption rates are higher compared to others. Besides POC, Molecular diagnostic is also gaining focus and would be one of the fast growing segments in APAC. Overall this report helps the reader understand the domestic versus global competition, import/export market, technology and other aspects which can help them strategize their position in Asia Pacific.

Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, Product portfolio, New product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors
• Future outlook

Research Methodology
This report studies the Asia-Pacific In Vitro Diagnostics Market, keeping in mind the interest of all the stakeholders across the value chain. The rich quality of insights is outcome of -
• Extensive secondary research,
• Rigorous primary interviews with more than 10 industry stakeholders across the value chain.
• Validation and triangulation of data with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data.

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