In recent years, China's blood gas analyzer market has shown a strong development trend, especially in critical illness, emergency and surgical scenarios, and the scale has expanded dramatically. At present, the market size of blood gas analysis in China is about 2.7 billion yuan, and the industry growth rate is about 20%.

From the perspective of market share, imported brands have the first-mover advantage in R&D and market, according to the data reported by the China Research Institute of Puhua Industry Research Institute, about 80% of the current market share of the domestic blood gas analyzer market is still occupied by imported brands, mainly for Radiometer, Wolfen, Abbott, etc., and domestic brands are mainly represented by the head brand of blood gas.

According to the statistics of the bidding network, in the first half of 2024, the scale and demand for blood gas equipment procurement across the country will continue to expand, among which the wet procurement volume of blood gas analyzer equipment is higher than that of dry type. The main winning bid for the dry blood gas analyzer is the Lipon i15 blood gas biochemistry analyzer. As a dark horse representing the strength of domestic blood, Libon has laid the foundation for the future development trend of domestic blood.

The innovation path of Libang blood gas is also the epitome of the rise of domestic blood gas. In 2010, Libon began to lay out the in vitro diagnostic business, and has now formed a layout of high-end microfluidic POCT products, routine testing products and molecular diagnostic products. Among them, POCT is an important part of Libon IVD business. In 2013, Libon innovatively applied independent core technologies such as microarray chips and microfluidic technology to develop China's first dry POCT blood gas biochemistry analyzer i15, which broke the import monopoly of China's blood gas market in one fell swoop. i15 has won many national and industry laurels, won the "2014 National Key New Product", "2014 Bio/Life and Health Industry Innovation Achievement Gold Award", "2017 China Patent Excellence Award", was selected into the Ministry of Science and Technology's "Innovative Medical Device Product Catalog (2018)", and was rated as "the first innovative medical device product in China...... In all aspects of innovation and technical strength in the field of blood gas analysis, Libon has become a model for the rise of domestic blood gas.

It can be said that the ten years of Libang blood gas are the continuous innovation and upgrading of "ten years of grinding a sword", carefully carving the hard-core product i15 that integrates more than 70 national patents and utility models, and continuously building barriers on the threshold of blood gas technology. In terms of product quality, Lipon has benchmarked against international high standards, and passed the Global Laboratory Quality Assessment (EQAS) for 4 consecutive years from 2020 to 2023, and its excellent quality has been recognized by international authorities. In 2020, it was shortlisted for the national team and became a domestic enterprise in the independent blood gas group of the Clinical Laboratory Center (NCCL) of the National Health Commission, marking NCCL's recognition of the superior quality and perfect performance of domestic equipment, and passed the inter-laboratory quality evaluation with full scores for eight consecutive years, becoming an important "milestone" for domestic blood gas to break through the import monopoly. In the 10th batch of excellent domestic medical equipment product catalogue recently announced by the China Association of Medical Equipment, Libang POCT series products were all selected.

Based on the accumulation of advantages of the "super single product" i15, in 2022, Libon launched a new generation of i20 blood gas and blood oxygen electrolyte analyzer based on the photochemical platform, becoming the only platform that realizes the measurement of hemoglobin and its derivatives in dry blood gas whole blood. It can be said that it has created the era of domestic blood gas 2.0, and Libon has further consolidated its leading position in the global dry blood gas.

In May 2024, the Lipon Wet Blood Gas i500 Automatic Blood Gas Electrolyte Analyzer was launched, achieving all-round coverage from small specimen to large specimen hospitals. i500 in the operation experience, detection performance, blood volume and other comprehensive upgrades, the equipment only needs 63μL of trace blood, from the shutdown state to start the test in 5 minutes, from the sample aspiration to the result only 45 seconds, 1 hour to complete the detection of 31 specimens, in the need to complete the detection of a large number of samples in a short period of time, high-load continuous monitoring of the patient's status of the medical scenario, i500 with high-throughput sample processing strength, once again break through the technical ceiling.

So far, Lipon Blood Gas has completed a comprehensive advancement and has become the world's only supplier in the field of blood gas, covering a full range of dry and wet blood gas products. The i15 of the electrochemical platform, the i20 of the photochemical platform, and the i500 of the wet blood gas platform, together with the self-developed blood collection device and POCT intelligent management system, form an overall blood gas solution for the whole hospital, realizing customization, automation, precision and localization. According to the 2023 annual report, the in vitro diagnostics business of Libon increased by 19.79% year-on-year, becoming the fastest-growing segment among many businesses. According to the record of investor relations activities disclosed by Lipon, the company is confident that the blood gas business will maintain a growth rate of more than 20% in the next two years. According to statistics, in the past ten years, a total of 22,000 blood gas analyzers have been shipped, serving hospitals in more than 140 countries and regions, and providing a total of 425 million diagnosis and treatment services for medical and health institutions at all levels in China. In the future, the overall solution of blood gas in the whole hospital will accelerate the localization of blood gas and the growth of market share, and the technical barriers of blood gas analyzer are high, and the technology of most domestic manufacturers is in the development stage, and the domestic substitution space of Libang is very broad.

With the continuous expansion of business scale and investment scale, Libon has established a world-leading industrialization base for microfluidics and biochips, supporting the rapid transformation of innovative technological achievements in various R&D centers around the world, and further enhancing Libon's competitive advantage in the global medical device supply chain. In 2022, the "Libang Instrument Industry Building Project" will be launched, and the automation transformation of each production line will be carried out to fully release the blood gas production capacity. In 2023, the shipment of blood gas consumables will exceed 8 million pieces, and it is currently continuing to promote the annual production capacity construction project of 12 million blood gas test cards to fully meet the rapid growth needs of blood gas business. Judging from the layout of the above aspects, the future of Libang blood gas cannot be underestimated. Lipon Blood Gas has not only established a leading position in China, but also performed well in the international market. Under the high-standard system, Libang Blood Gas continues to break through the European and American markets, and a large number of high-end hospital users in United Kingdom, Greece, Italy and other high-end hospitals.

According to the annual report for the first half of 2024, the overseas revenue of in vitro diagnostics increased by about 20% year-on-year, and the international brand influence was further expanded. Blood gas biochemical products (i15 series) also obtained the new EU IVDR CE certificate last year, becoming the first batch of medical device manufacturers in China to obtain the new EU in vitro diagnostic medical device regulation IVDR CE certification. In addition, under the normal temperature transportation and storage of all blood gas product consumables, it is believed that Libon will achieve greater breakthroughs in overseas markets in the future. At present, the main "battlefield" of blood gas is basically clinical departments, but with the advancement of hierarchical diagnosis and treatment and the construction of five major treatment centers, primary medical institutions will also become the main application scenarios of POCT. According to the "China Medical Device Industry Development Report", the number of primary medical institutions in China accounts for 95% of the total number of medical institutions, with a small sample size, scattered testing items, and a large demand for low-throughput and different types of POCT. Coupled with the implementation of relevant favorable policies, it will bring a huge market volume.

In addition, the "Opinions on Strengthening the Capacity Building of Critical Medical Services" and the "Standards for the Allocation of Medical Equipment in Operating Rooms" issued in April, as well as the "Implementation Plan for Promoting the Renewal of Equipment in the Medical and Health Field" issued by the National Development and Reform Commission and other departments in May, require the standardization of equipment in rural medical and health institutions, and the scientific and reasonable allocation of bedside blood gas analyzers and other equipment, all of which continue to release positive signals for the demand for high-quality blood gas analyzers. Under the "right time, place and people", Lipon will accelerate its march to the ranks of global excellence and usher in the next golden decade. Under the huge market opportunities and challenges, we will continue to lead the cutting-edge technology and hand in an excellent answer sheet for the new growth of domestic blood gas.