PUBLISHER: Grand View Research | PRODUCT CODE: 1678530
PUBLISHER: Grand View Research | PRODUCT CODE: 1678530
The Asia Pacific laboratory developed tests market size is anticipated to reach USD 3.94 billion by 2030 and is anticipated to grow at a CAGR of 6.4% from 2025 to 2030, according to a new report by Grand View Research, Inc. The region is witnessing a significant surge in cancer incidence, with an estimated 3.25 million new cases in China in 2024, 1 million new cases in Japan annually, and a projected 1.5 million cases in India by 2025. This trend has created a substantial demand for specialized diagnostic tests, driving the development of laboratory-developed tests (LDTs) tailored to specific patient needs and conditions.
China's implementation of Order 739 in 2021 has facilitated increased development of LDTs, while regulatory reforms in Japan, India, and Australia aim to streamline the approval process for diagnostics, including LDTs. Moreover, significant investments in laboratory automation technologies have enhanced efficiency and accuracy in testing procedures, making LDTs more appealing to healthcare providers.
The growing trend towards automation in laboratories has been pronounced in major hospitals in China and Japan, with adoption rates increasing by approximately 15% annually. Collaborative initiatives among academic institutions, research centers, and healthcare organizations in countries such as Japan and South Korea are driving innovation, enhancing the quality of diagnostic tests, and supporting market growth.