China's independent medical laboratory is developing rapidly

In 2005, Zhejiang and other places drastically reduced the clinical test price (about 20%), which prompted a large number of hospitals to outsource the diagnosis business, and the independent laboratory industry began to enter the development period. The new medical reform started in 2009 encouraged residents to seek medical care at the grassroots level and strengthen the construction of primary medical institutions. The grassroots medical institutions promoted the rapid growth of the independent laboratory industry by outsourcing their non-inspection projects. In recent years, the growth rate has reached 40%. In 2014, China's independent medical laboratory entered a period of continuous expansion and upgrading. Major enterprises continued to sprint and strengthen international cooperation to enhance high-end testing and model innovation.

According to the '2017-2022 China Independent Medical Laboratory Industry Development Prospects and Investment Strategic Planning Analysis Report' published by the Prospective Industry Research Institute, the market size of China's independent medical laboratory in 2010 was only 1.2 billion, and in 2016 this year The figure reached 9.6 billion, with a compound annual growth rate of 42%. In general, China's independent medical laboratory started late, but it has developed rapidly.

China's independent medical laboratory penetration rate is still very low

In 2016, the income of medical institutions in China was about 265 billion yuan. According to industry experience, the annual inspection income accounts for 8%-10% of the business income of medical institutions. According to this calculation, the medical inspection market in China is about 221-265 billion yuan in 2016. Between the independent medical laboratories in China, the proportion of the medical test market is about 3.6%-4.5%. Although it has made considerable progress compared with less than 2% before, it is far behind the European and American days.

According to the annual reports of Quest, Labcorp, Labco, and BML, the market size of the US, Europe and Japan independent laboratories in 2016 reached 38 billion US dollars, 21 billion US dollars, and 15 billion US dollars respectively. The penetration rate is about 44% and 53%. 67%.

The development of independent medical laboratories is huge

Driven by factors such as the continuous strengthening of primary medical institutions, the maturity of molecular diagnostics, the maintenance of medical insurance, the development of private hospitals, the reduction of the price of inspection projects, and the increase of laboratory testing programs, we expect that the independent medical laboratory industry in China will continue in the next five years. With a compound annual growth rate of 30%, by 2020, the market size of China's independent medical laboratory will reach 30 billion, and the penetration rate will reach 9%. This means that in the next five years, the independent medical real estate industry will add 20 billion market.

Assuming that the proportion of independent laboratories in the medical test market can reach 20% in 2030, the size of the independent laboratory market in 2030 can reach more than 100 billion yuan, which is more than 10 times the growth space.