Chan Ye Xin Xi Wang·2025-06-19 01:51Core Viewpoint - The third-party medical testing industry in China has experienced significant growth, particularly during the pandemic, with a market size reaching 630.5 billion yuan in 2022, but is expected to return to pre-pandemic levels in 2023 and stabilize around 388.8 billion yuan in 2024 [1][6]. Group 1: Industry Definition and Business Model - Medical testing is a discipline that utilizes modern physical and chemical methods for clinical diagnosis and treatment [2]. - Independent clinical laboratories (ICLs), also known as third-party medical laboratories, operate independently of hospitals and are licensed by health authorities to provide clinical testing and pathology services [2]. Group 2: Current Development Status - The ICL industry in China began in the 1980s and has become an essential part of the healthcare system due to increasing demand and favorable policies [4]. - The number of ICLs has grown from fewer than 70 in 2009 to an estimated 2,800 by 2024, with projections of reaching 2,845 by 2025 [4]. Group 3: Market Size and Growth Projections - The market size for third-party medical testing services in China was 630.5 billion yuan in 2022, with a significant drop expected in 2023 as pandemic testing demands decrease [6]. - The projected market size for 2024 is 388.8 billion yuan, with special testing accounting for 189.3 billion yuan and general testing for 199.5 billion yuan [6]. - By 2025, the market is expected to grow to approximately 444.9 billion yuan, with special testing at 218.1 billion yuan and general testing at 226.8 billion yuan [6]. Group 4: Industry Chain Structure - The third-party medical testing industry relies on specialized medical services, acting as a substitute for traditional hospital testing departments [8]. - The upstream of the industry includes suppliers of medical devices and testing reagents, while the downstream consists of various healthcare institutions that increasingly outsource testing services [8]. Group 5: Competitive Landscape - The market is characterized by a concentration of major players, with KingMed and Dian Diagnostics holding a combined market share of 36.16% [15]. - KingMed leads the market with a 17.04% share, providing services to over 20,000 medical institutions across 31 provinces and regions [15]. - Smaller third-party testing institutions face challenges due to limited scale and capabilities, leading to market exit pressures since 2015 [15]. Group 6: Financial Performance of Key Players - In 2024, KingMed reported revenues of 6.627 billion yuan, Dian Diagnostics 4.520 billion yuan, and Aidi Kang 2.914 billion yuan, among others [18]. Group 7: Development Trends - The third-party medical testing sector is becoming increasingly important, with regulatory changes posing new challenges [20]. - The industry is expected to focus on technological upgrades and strategic partnerships to enhance profitability and service quality [20]. - Automation, platformization, and intelligence are emerging as key trends in the development of third-party medical laboratories [20].