Transplant Diagnostics Market is Expected to Reach $1,031 Million, Globally by 2022 - Allied Market Research
PORTLAND, Oregon and PUNE, India, November 16, 2016 /PRNewswire/ --
A new report published by Allied Market Research, titled, "Transplant Diagnostics Market - Global Opportunity Analysis and Industry Forecast, 2014 - 2022", states that the global transplant diagnostics market was $524.7 million in 2015 and is expected to reach $ 1,031 million by 2022, with a CAGR of 10% from 2016 to 2022. The serological assay technology is the most preferred, which accounted for about half of the market share globally, in 2015. The reagents & consumables segment is projected to remain dominant throughout the forecast period. North America held the leading market position in 2015, and is expected to maintain this trend.
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Summary of the transplant diagnostics market report can be accessed on the website at https://www.alliedmarketresearch.com/transplant-diagnostics-market
Increase in incidence of organ failure owing to growing cases of chronic diseases, rise in ageing population, and increase in focus on R&D is expected to propel the growth of the global transplant diagnostics market. Chronic diseases can lead to organ failure in patients, which could be a significant target audience for transplant diagnostics procedures. However, difficulties in human leukocyte antigen (HLA) sequencing and increasing worldwide organ shortage can hamper the market growth.
The reagents & consumables segment accounted for the maximum revenue generation in 2015, owing to the increased number of diagnostics procedures pre and post organ transplantation. The instruments & equipment segment is projected to grow at a CAGR of 9.1% and reach $76.3 million by 2022. Both the technologies, namely non molecular assay and molecular assay hold significant position in the global transplant diagnostics market. However, molecular assay technology segment is projected to grow at the highest CAGR of 12.3%, due to highly accurate results provided by the modern molecular assay technology.
According to Hemali Narkhede, Manager, Healthcare Research at Allied Market Research, "The non-molecular assay segment is reported to demonstrate a steady growth, due to advent of technological shift in the market. Molecular assays are expected to dominate the technology segment of the transplant diagnostics market, owing to the highly reliable results provided by these assays. Coupled with this, molecular assays
used for performing transplant diagnostics procedures are equipped with highly sophisticated technology such as next-generation sequencing, which is current market trend," she further added.
With rise in number of kidney transplants, the segment is set to report a high revenue in the future, with a CAGR of 9.8%, owing to increased incidence of renal failure worldwide. Liver and heart transplants are estimated to report a strong growth rate during the forecast duration, due to increased awareness for organ donations and increase in incidence of liver and heart failure.
Key findings of the study:
- In the year 2015, reagents & consumables generated the highest revenue, and is projected to grow at a CAGR of 10%.
- Software segment is projected to grow at the highest CAGR of 13.4%.
- Kidney transplants is the major surgical procedure that requires transplant diagnostics.
- The molecular assay segment is expected grow at a CAGR of 12.3%.
- U.S. is the leading country and is projected to grow at a CAGR 9.9%.
- In Asia-Pacific, South Korea led in 2015 and is expected to grow at a CAGR of 10.4%.
North America accounted for a major market share in 2015, with maximum revenue contribution from the U.S., due to large number of transplant procedures of kidney, liver, lung, heart, and pancreas. Adoption of latest technology and increase in awareness regrading organ transplantation in the U.S. have boosted the North American transplant diagnostics market. The Asia-Pacific region offers lucrative opportunities for transplant diagnostics market players to expand their market presence. This region has the highest geriatric population, and the scenario is estimated to continue; further felling market growth for transplant diagnostics.
The major players have adopted product approval & launch as their key strategy to cater to the volatile industry needs and merger & acquisition to strengthen their brand value, product portfolio, and market position. Development of novel products incorporated with innovative technology supplemented with aggressive acquisition activity are the instrumental strategies adopted by leading players. The key players profiled in this report include Immucor, Inc. (TGI Capital), Bio-Rad Laboratories, Inc., Thermo Fisher Scientific Inc. F. Hoffmann-la Roche AG, Illumina Inc., Abbott Laboratories, Sigma-Aldrich Corporation, Qiagen N. V., Olerup SSP AB (Allenex), and Diasorin S.P.A. Thermo Fisher occupies a major share in the transplant diagnostics market, owing to its novel product portfolio and diverse geographical presence.
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SOURCE Allied Market Research