Transplant Diagnostics Market Size, Share, Insights, Applications and Emerging Trends, Forecast To 2023

Market Research Future (MRFR)’s latest research reveals that the global transplant diagnostics market is set to surpass the value of USD 2,074.65 million by 2023. The global market is anticipated to grow at CAGR of 7.80% during the forecast period (2018–2023). The global transplant diagnostics market is anticipated to flourish in the coming years with the growing prevalence of chronic diseases that can lead to organ failure. The market has triggered the curiosity of healthcare providers on account of various benefits offered by these tests to assess the feasibility of the organ transplant procedure. Also, there has been a barrage of research and development activities that lead to technological advancements in the transplant diagnostics field.

MRFR notes that the market is in a mature phase in developed economies such as North America while developing countries hold immense potential and show promise in the coming years. Another factor proving to be beneficial for the market is increasing geriatric population who are in constant need of organ transplant. To sum it up, rise in technological advancements, increased research and development activities and growing number of transplant procedures have shaped the market size significantly.

However, marring the market are few restraints including high cost of the transplant procedure. Nonetheless, the market growth is inevitable due to government initiatives across the globe to promote organ transplantation along with continuous technological innovations undertaken by global market players.

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Global Market for Transplant Diagnostics – Competitive Dashboard
The key players in the global transplant diagnostic market are Becton Dickinson and Company, F. Hoffmann La Roche Ltd., Bio-Rad Laboratories Inc., QIAGEN N.V., Illumina, Inc., bioMérieux S.A., and Thermo Fisher Scientific Inc. and others.

Global Market for Transplant Diagnostics– Segmental Analysis
MRFR’s report states that the global market is segmented based on product and service, screening type, organ type, application, and end-users.
By product and service, the market has been segmented on the basis of instruments, reagents & consumables, and software and services. The reagents & consumables segment presently holds the largest market share and is estimated to dominate the market throughout the assessment period.

By screening type, the market has been segmented on the basis of pre-transplant screening and post-transplant screening. The pre-transplant screening segment valued more than USD 819.04 million in 2017.

By organ type, the market has been segmented on the basis of kidney, liver, heart, lung, pancreas, and others. The kidney segment valued more than USD 896.02 million in 2017. Factors attributing to the growth of this segment include increasing cases of organ rejection combined with the side effects of medication.

By application type, the market has been segmented based on research applications, diagnostic applications, and others. Research Applications accounted for the largest share in the transplant diagnostics market in 2017 and is exhibited to retain its position in the market. The diagnostics procedure before and after transplant for research application is rising gradually. Moreover, the cost of diagnostic testing and procedure are known for their affordable prices.

By end-user, the market has been segmented on the basis of commercial service providers, hospitals and transplant centers, research laboratories & academic institutes and others. The hospitals and transplant centers was valued more than USD 544.77 million in 2017 and will retain its top position even till the end of 2023. The hospitals are credited as prominent diagnostic and treatment centers for transplant diagnostics, along with a variety of surgical procedures as well as diagnosis of these conditions are carried out in these facilities.

Regional Outlook
By region, the global market is segmented on the basis of Americas, Europe, Asia-Pacific (APAC), and the Middle East & Africa (MEA).
At present, Americas claims the largest market share and is bound to continue doing so in the coming years. The market growth in the region is due to well established healthcare industry and popularity of treatment methods in both the United States (U.S) and many Latin American countries. Furthermore, the diagnostic medical device industry is thriving and touted to be one of the largest sectors in the US.

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Asia Pacific is bound to remain an important market in the global market during the assessment period. Growing demand for organs such as kidney and liver is presumed to trigger the growth of the market in the region. Furthermore, accelerating cases of organ diseases such as liver cirrhosis, acute renal failure has led to governments focusing on funding researches to develop organs. This factor proves to be highly crucial in the market growth in the region in the coming years. Also, the region has a high geriatric population who are prone to chronic diseases and are in dire need of organ transplants.

The Europe market has managed to create a niche for itself on account of growth in robot-assisted laboratory automation of diagnostic procedures coupled with technological advancement in the field of human leukocyte antigen (HLA) typing. In addition, increasing public-private investment to develop innovative human leukocyte antigen (HLA) testing products has also resulted in market expansion to a large level.

Lastly, the Middle East and Africa markets are aggressively making their way into the global market. This market expansion in the region is due to improving healthcare infrastructure and continuous reduction in average cost of gene sequencing. It has also been observed that global market players are striving to penetrate the regional market and widen their customer base locally. This intense competition and ambition displayed by such firms fuel the market growth in the region and is expected to surmount in the coming years.

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This release was published on openPR.