Transplant Diagnostics Market is anticipated to grow at a double digit CAGR from 2019 to 2030
Market Industry Reports (MIR) has published a new report titled “Transplant Diagnostics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global Transplant Diagnostics market is estimated to be over US$ 3.40 billion in 2018. It is anticipated to grow at a double digit CAGR from 2019 to 2030.
The continual growth of the transplant diagnostics market can be attributed to several factors such as increase in geriatric population, increasing prevalence and incidence of chronic diseases, growth of soft tissue, solid organ & stem cell transplantation. The initiation of new techniques for transplant diagnostics has improved the quality of the organ transplant results. Owing to the rising awareness of transplant diagnostics in the U.S. and European market, the rate of organ donation has increased. Due to the demand for high throughput tools for transplant diagnostics, traditional diagnostics techniques such as radioimmunoassay (RIA), enzyme linked immunosorbent assay (ELISA), complement fixation test (CFT) are replaced by next generation sequencing (NGS) method. However, the lack of enthusiasm and unwillingness for organ donation can hinder the growth of transplant diagnostics market.
Over a period, geriatric population has played a significant role in contributing to the global transplant diagnostics market. According to United Nations, the global geriatric population accounted for over 982 million in 2017. The global population aged 60 years or over is projected to reach nearly 2.1 billion by 2050. Due to the presence of chronic diseases in the people above the age of 60, transplants are mainly required for them. For instance, European countries are focusing on creating awareness regarding organ transplantation to make a large patient pool of geriatric population to propel the growth of transplant diagnostics market.
Browse key industry insights spread across 150 pages with market data tables & figures & charts from the report, Transplant Diagnostics Market is anticipated to grow at a double digit CAGR from 2019 to 2030. in detail along with the table of contents:https://www.marketindustryreports.com/98/transplant-diagnostics-market
Technological advancements in transplant diagnostics are expected to increase the growth of global transplant diagnostics market. The sequencing techniques, PCR-based techniques and molecular assay techniques are efficient and less time consuming than other conventional techniques. In addition, next generation sequencing plays a vital role in understanding and interpreting the genetic information at a lower cost. For instance, the new technology called x-vivo, permits the doctors and surgeons to place donor lungs into a chamber where there is a replacement of donor blood by special fluid.
The growth of transplant diagnostics market is likely to be restrained due to factors such as organ shortage, lack of awareness, rejection rate of transplants, high price of transplant techniques, and, unwillingness towards organ donation. Due to less supply and high demand of the transplants, the market can experience a downfall. Additionally, the absence of organ donors for the transplant procedures is an important factor hampering the growth of transplant diagnostics market.
Asia Pacific is estimated to witness the highest CAGR during the forecast period. Increasing population, continuously growing economy is expected to aid the growth of the transplant diagnostics market in this region. Owing to the factors such as major pool of patients, investment in stem cells, increasing, government and private support for development of human leukocyte antigen typing procedures, improving healthcare infrastructure, this region is expected to show the fastest growth. For instance, transplant diagnostics market is dominated by China in Asia Pacific. This region is anticipated to expand at a high growth rate with growth centered in China and India. Thus, this is an opportunity for market leaders to focus on this region as it is likely to be an important revenue generator during forecast period.
The prominent players in the transplant diagnostics market are Bio-Rad Laboratories, Inc., Thermo Fisher Scientific Inc., QIAGEN, F. Hoffmann-La Roche Ltd., Illumina, Inc., Merck KGaA, IVD Holdings, Inc., Gendx, Luminex Corporation and, Omixon Inc. among others.
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