Transplant Diagnostics Market to Garner USD 1,542.89 Million, Globally, by 2027 at 7.9 % CAGR: The Insight Partners

The transplant diagnostics market was valued at US$ 789.88 million in 2018 and it is projected to reach US$ 1,542.89 million in 2027; it is expected to grow at a CAGR of 7.9% from 2019 to 2027.

According to The Insight Partners market research study titled 'Transplant Diagnostics Market to 2027 - Global Analysis and Forecasts by Product & Services, Type, Technology, Application, and End User'. The report highlights the trends prevalent in the global transplant diagnostics market and the factors driving the market along with those that act as deterrents to its growth.

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Transplant diagnostics refers to the diagnostics tests that are conducted on the organs that are meant to be transplanted. These tests are either conducted pre transplantation as well as post transplantation. Some of the common techniques used in transplant diagnostics include, sequence based molecular assays, PCR based molecular assays and also non-molecular assays in certain cases. Transplant diagnostics is an essential factor in organ transplantation as it avoids any further complications that could occur after a transplant procedures. The growth of the global transplant diagnostics market is attributed to the rising prevalence of cardiovascular diseases, significant growth of biotechnology industries, rising need for the organ transplantation, and rising cell based research activities. However, expensive organ transplant surgeries and limited numbers of donors for organ transplant surgeries are the major factor hindering the market growth.

Significant Growth of Biotechnology Industries to Drive Global Transplant Diagnostics Market Groth
The transplant diagnostics market is also driven by the significant growth of biotechnology industry. In the past few years, biotechnological industry has been developing at an unusually rapid pace. The rise in the prevalence of the chronic and acute diseases are alarming the need of the diagnosis and drugs. The technological advancements have assisted the manufacturers with ease in technique to enhance their production. In addition, the rise in the geriatric population is leading to rising healthcare conditions. As per the World Health Organization, the global population is increasing by 1.24% per annum leading to rise in number of people in the geriatric class.

The WHO also suggests that the proportion of people aged 65 to 80 will rise to 28% in 2030, compared to 22% in 2000. Moreover, according to a survey report published by Torreya Economical Model 2017, medical device and pharmaceutical industry is 30% larger than its previous estimations till 2017 and contributes to one of the top five industries increasing global economy value. .

Furthermore, the increase in the start-up companies for the biotechnology are growing with a good number across the world. These companies are developing innovative diagnostic kits and been supported by the respective governments of the countries. Therefore, enormous growth in the production of the diagnostic products is shown by the start-up and established players. Hence, owing to these factors the market for the transplant diagnostics is likely to propel in the coming forecast years.

The global transplant diagnostics market is expected to witness substantial growth post-pandemic. The COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns.

The COVID-19 crisis has overburdened public health systems in many countries and highlighted the strong need for sustainable investment in health systems. As the COVID-19 pandemic progresses, the healthcare industry is expected to see a drop in growth. The life sciences segment thrives due to increased demand for invitro diagnostic products and rising research and development activities worldwide. However, the medical technologies and imaging segment is witnessing drop in sales due to a smaller number of surgeries being carried out and delayed or prolonged equipment procurement. Additionally, virtual consultations by healthcare professionals are expected to become the mainstream care delivery model post-pandemic. With telehealth transforming care delivery, digital health will continue to thrive in coming years. In addition, disrupted clinical trials and the subsequent delay in drug launches is also expected to pave the way for entirely virtual trials in the future. New technologies such as mRNA is expected to emerge and shift the pharmaceutical industry and market is also expected to witness more vertical integration and joint ventures in coming years.

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In terms of product & services, the global transplant diagnostics market is segmented instruments, reagents & consumables and software & services. In 2018, the reagents & consumables segment held largest share of the market. However, the software & services segment is estimated to register the highest CAGR during the forecast period.

Based on type, the global transplant diagnostics market is segmented into solid organ transplantation, soft tissue transplantation and stem cell transplantation. The solid organ transplantation segment held the largest market share in 2018, also the same segment is estimated to grow at the fastest rate during the forecast period.

In terms of technology, the global transplant diagnostics market is segmented into molecular assays and non-molecular assays. In 2018, molecular assays segment held largest share of the market. The same segment is expected to register the highest CAGR during the forecast period.

In terms of application, the global transplant diagnostics market is segmented into diagnostic applications and research applications. In 2018, the diagnostic applications segment held largest share of the market. The same segment is expected to register the highest CAGR during the forecast period.

In terms of end user, the global transplant diagnostics market is segmented into hospitals & transplant centers, research laboratories & academic institutes, and independent reference laboratories. The hospitals & transplant centers segment held the largest share of the market in 2018, and the same segment is estimated to grow at the fastest rate during the forecast period.

Transplant Diagnostics Market: Competitive Landscape and Key Developments
Thermo Fisher Scientific Inc., Abbott, Illumina, Inc., F. Hoffmann-La Roche Ltd, Bio-Rad Laboratories, Inc., bioMérieux SA, QIAGEN, Hologic Inc., Luminex Corporation, and Omixon Inc. among are the leading companies operating in the Transplant Diagnostics market.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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