Transplant Diagnostics Market Highlights
According to Market Research Future (MRFR), the global transplant diagnostics market is estimated to hit USD 2,074.65 million, with a CAGR of 7.80% from 2018 to 2023 (forecast period). The report discusses the strengths, opportunities, threats, and potential market risks and provides a complete description of the global market scenario with the impact of COVID-19.
Transplant diagnosis helps test the histocompatibility between the patient and the donor, further decreasing the risk of organ rejection by increasing the efficacy of organ transplantation. Diagnostic devices help recognize the different markers present on the outer surface of the cells regulating the identification and rejection of the foreign body.
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Transplant Diagnostics Market Dynamics
The increase in chronic diseases has contributed to a need for tests capable of diagnosing histocompatibility before transplantation, thus helping the market’s growth. The recent increase in funding for research institutes for specific research purposes facilitated by public-private partnerships will push market growth over the forecast period. Transplant diagnostics can play a pivotal part in reducing the rate of organ rejection among adults. The emergence of China and India as hubs for low-cost transplantation will fuel market growth. However, a low level of awareness among patients, coupled with strict regulations, can hinder the market.
Transplant Diagnostics Market Segmentation
The global market for transplant diagnostics has been segmented into product & service, types of screening, types of organs, applications, and end-users.
By product & service, the global market for transplant diagnostics has been segmented into instruments, reagents & consumables, and software & services. The segment for reagents and consumables accounted for a significant market share in 2017. It can continue to be profitable for the market during the forecast period.
By types of screening, the global market for transplant diagnostics has been segmented into pre-transplant screening and post-transplant screening.
By types of organs, the global market for transplant diagnostics has been segmented into lung, pancreas, heart, liver, kidney, and others.
By types of applications, the global market for transplant diagnostics has been segmented into diagnostic applications, research applications, and others.
By end-users, the global market for transplant diagnostics has been segmented into hospitals and transplant centers, commercial service providers, research laboratories & academic institutes, and others. The hospital and transplant center segment are expected to be the largest end-user by the end of the evaluation period due to the demand for the treatment of infectious diseases.
Transplant Diagnostics Market Regional Analysis
Region-wise, the global market for transplant diagnostics has been segmented into the Americas, Europe, Asia Pacific, and the Middle East and Africa.
North America has the largest share of the global market due to rapid growth in the geriatric population, a high rate of adoption of cancer transplantation techniques, and an increase in the incidence of kidney disorders among the geriatric population in the U.S.
The market in the Asia Pacific is expected to develop rapidly during the forecast period. China led the transplant diagnostic market in Asia Pacific, while the Indian market is expected to grow at a substantial CAGR during the forecast period. Increased awareness and affordability of transplantation procedures are factors responsible for the growth of the Asian Pacific transplant diagnostic market.
Transplant Diagnostics Market Key Players
Bio-Rad Laboratories, Inc., Illumina, Inc., Thermo Fisher Scientific Inc., F. Hoffmann La Roche Ltd., Becton Dickinson and Company, bioMérieux S.A., QIAGEN N.V., and others are prominent players currently operating in the transplant diagnostics market. The demand for astute and advanced diagnostic techniques is projected to culminate in product innovation. This can lead to price wars between players and promote investment in research and development.
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NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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