Owing to the aging population, increasing awareness of disease management, and continuous technological advancements, the global in vitro diagnostic reagents market is expected to grow from USD 69.25 billion in 2019 to USD 90.65 billion by 2023, with a CAGR of 6.2%.

Recently, Shanghai BioGerm Medical Technology Co., Ltd. reached a strategic consensus and completed the signing of a contract, in which BioGerm will formally enter the biochemical diagnostic field by wholly acquiring Kaisheng Biology.

MGI Tech, a Shenzhen, China-based firm focused on the development and distribution of sequencing instruments and reagents, on Wednesday announced that it has signed a licensing agreement with Xpress Genomics.

On March 10, 2023, Shenzhen MGI Tech Co.,Ltd. and Yeasen Biotechnology (Shanghai) Co., Ltd. officially reached a strategic cooperation to promote the localization of high-throughput sequencing (NGS) reagents and instruments in China.

In October 2022, the Office of the Leading Group for Deepening Medical and Health System Reform in Shanghai issued the Notice on Piloting the High-Quality Development of Public Hospitals in Shanghai.

Japanese healthcare firm Sysmex said that it has signed a global supply agreement for hemostasis instruments and reagents with Siemens Healthineers.​

BioMérieux reported Wednesday that its fourth quarter revenues rose 11 percent year over year.

PerkinElmer, Inc. (NYSE: PKI) (“PerkinElmer”) today announced it has entered into an agreement to acquire BioLegend, a leading, global provider of life science antibodies and reagents, for approximately $5.25 billion in a combination of cash and stock, subject to certain adjustments.