The global transplantation diagnostics market to grow at a CAGR of 10.9% during the forecast period 2017–2023 to aggregate $1.1 billion by 2023
Factors, such as the growing patient base for chronic disease, rising elderly population, and the increasing number of trabsplantation procedures, will increase the market growth during the forecast period.
BANGALORE, India – December 13, 2017
Infoholic Research LLP, a global market research and consulting organization, has published a study titled “Global Transplantation Diagnostics Market – Drivers, Restraints, Opportunities, Trends, and Forecasts: 2017–2023” (December 2017).
According to Infoholic Research, the transplantation diagnostics market is growing rapidly due to the growing patient base for chronic disease globally, growing elderly population, and the increasing number of organ transplantation procedures. The high cost of sequencing instrument, requirement of skilled labors, and difference between organs donated and patients waiting for transplantation are some of the factors hampering the market growth. Transplantation diagnostics products majorly find their application in diagnostic and research applications. The demand for these products are expected to increase in the future due to an increase in chronic and infectious diseases. According to the estimation of National Kidney Foundation in the US, around 17,107 transplants took place in 2014 and over 3,000 patients are added to the waiting list for kidney every month. According to the Canadian Transplant Society, every year approximately 1,600 Canadians are added to graft wait list annually. Around 90% of the people support transplantation of which only 20% plan to donate organs.
The “Global Transplantation Diagnostics market” is expected to grow at a CAGR of 10.9% during the forecast period 2017–2023 to touch an aggregate of $1.1 billion by 2023.
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The market is analyzed based on six segments, namely technology, products, screening methods, application, end-users, and regions. The regions covered in the report are North America, Europe, Asia Pacific, and Rest of the World (RoW). In North America, the US and Canada are set to be the leading countries. Europe is set to be the second leading region and held more than 29.6% of the market share in 2016. Asia Pacific is expected to grow at a fastest CAGR during the forecast period. The RoW region is set to be an emerging market in the next 5–6 years.
The technology covered for global transplantation diagnostics market includes molecular and non-molecular assays. Molecular assays is further segmented by PCR-based and sequencing based methods. Molecular assays occupy the largest market share and is expected to be the fastest growing segment during the forecast period due to its better sensitivity, specificity, and high resolving power.
“The transplantation diagnostics market is growing at a rapid phase with an increase in investments for the development of innovative tests and product approvals, which can enhance the position of the market players. The increasing number of infectious and chronic diseases will further increase the need for advanced testing products in the market.” – S. Mohammed Azhar, Senior Research Analyst (Research – Healthcare) at Infoholic Research
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Further, the report also aims to cover the below-mentioned points:
- 1. Provides an in-depth analysis of the key business opportunities in countries and verticals
- 2. Provides complete details about the various types of transplantation diagnostics products
- 3. Provides details of trending transplantation diagnostics products in the market
- 4. Provides complete details about the analysis of top 10 players
- 5. Provides industry outlook including current and future market trends, drivers, restraints, and emerging technologies