Market Overview

The global transplant diagnostics market size is expected to reach USD 895.2 million by 2024

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The global transplant diagnostics market size is expected to reach USD 895.2 million by 2024

PR Newswire

LONDON, August 2, 2018 /PRNewswire/ --  Transplant Diagnostics Market Size, Share & Trends Analysis Report By Technology (Molecular Assays, Non-Molecular Assays), By Product (Reagents & Consumables, Instruments), And Segment Forecasts, 2018 - 2024

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The global transplant diagnostics market size is expected to reach USD 895.2 million by 2024, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 7.6% over the forecast period. Increasing number of patients suffering from chronic diseases frequently leading to organ failure is creating an upsurge in demand for transplant procedures. In addition, adoption of stem cell therapy and personalized medicine is escalating, thereby influencing demand for transplant diagnostics.

Risks and complexities associated with organ transplants necessitate the need for improved and sophisticated diagnostic tools. Next-Generation Sequencing (NGS) technology is rapidly replacing traditional diagnostic methods, such as serological techniques employed in Human Leukocyte Antigen (HLA) typing, owing to growing demand for high-throughput diagnostic tools with enhanced accuracy.

Market growth is expected to be restrained by factors such as reimbursement controversies and ethical issues in some parts of the world. In addition, high cost of performing HLA matching using Polymerase Chain Reaction (PCR) and NGS devices is challenging the growth of the transplant diagnostics market in developing countries.

Further key findings from the study suggest:
• PCR-based molecular assay captured the largest share in the overall market in 2016 due to extensive adoption in HLA typing
• The sequencing-based typing segment is anticipated to witness significant growth from 2016 to 2024. High adoption of NGS is a major factor driving segment growth
• In 2016, the reagents and consumables segment accounted for the largest market share attributed to repeat purchase
North America captured the largest revenue share in 2016 and is expected to maintain its dominance throughout the forecast period due to well-established research infrastructure, increasing healthcare expenditure, high adoption of advanced diagnostic techniques, and growing R&D activities
Asia Pacific is expected to witness significant growth during the forecast period owing to expanding research opportunities, healthcare expenditure, medical tourism industry, and awareness regarding organ donation
• Some major players in this market are Thermo Fisher Scientific, Inc.; Illumina, Inc.; F.Hoffmann La-Roche AG.; Abbott Laboratories, Inc.; Qiagen N.V.; Immucor Transplant Diagnostics, Inc.; Bio-Rad Laboratories, Inc.; Affymetrix, Inc.; and Omixon Ltd.

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