The global transplant diagnostics market is growing at a high CAGR because of the increasing prevalence of various acute and chronic diseases, resulting in rising cases of organ failure, as a result, the demand for organ transplant surgeries is increasing at a high rate. Furthermore, rising consciousness among people factoring in the increasing rate of organ donation is also influencing the growth of the market. However, the huge gap between demand and supply of organs may act as a huge restraining factor for the market.
The global transplant diagnostics market was worth USD 3,809.52 million in 2021 and is expected to increase at a CAGR of 7.4% in 2022–2029 to reach USD 6,715.52 million.
Global Transplant Diagnostics Market Segmentation
Impact of COVID-19
The COVID-19 pandemic has not only presented challenges but also several opportunities. Supply chain disruptions of medical devices/equipment’s and essential medical supplies were prominent in 2020, especially due to travel and trade restrictions all over the globe. Also, to prevent the rapid spread of COVID-19 globally. This resulted in a moderate impact on specific segments of the market.
Global Transplant Diagnostics Market
Transplant diagnostics refers to a diagnostic procedure divided generally done pre- and post-transplantations. It helps in analyzing the patient’s health conditions. If avoided, the individual with weak immunity runs the risk of acquiring Healthcare-Associated Infections (HAIs) or worse which could be fatal. The procedure is known to be a harmonious collaboration between healthcare professionals and laboratory experts ensuring improved patient outcomes. In addition, a close match between a donor and recipient Human Leukocyte Antigen (HLA) marker is essential. It increases the probability of graft survival and minimizes severe immunological transplant complications.
Dominant Market Segment
Drivers, Restraints, Opportunities and Challenges of Global Transplant Diagnostics Market
Growing Transplant Procedures
Transplantation is one of the preferred treatment options for many patients suffering from end-stage renal disease and undergoing chronic dialysis therapy. Also, transplantation is a viable option considered in cases associated with the heart, liver, and bone marrow. Additionally, in the past decade, diagnostics have improved significantly as companies have been committed to develop better HLA typing technologies, antibody monitoring, instruments, and software. This is gradually being used for diagnostics during the transplantation of different organs of the body.
Hence, there is significant rise in the transplant procedure seen across the globe and rise in organ donation creates the need for increased transplant diagnostic testing thereby driving the market growth.
Increasing Geriatric Population
Increasing Number of Patients Suffering from Chronic Diseases
Rising Healthcare Expenditure
Healthcare expenditure has increased across the world as people's disposable income in various countries is increasing. Moreover, to accomplish population requirements, the government bodies and healthcare organizations are taking the initiative by virtue of accelerating healthcare expenditure.
Growing healthcare expenditure is also beneficial for further economic growth and healthcare sector growth, and it is primarily fruitful as it significantly affects the development of better and advanced diagnostic treatments in the market. Thereby surge in healthcare expenditure is a great opportunity for the market.
Strategic Initiatives by Major Players
The transplant procedure is increasing owing to the technological advancements in the market. The top market players have implemented certain strategies which are aimed at enhancing the business operations and profitability in the transplant diagnostics market. The companies have adopted certain strategies such as acquisition, partnerships, product launch, and other strategies for creating opportunities in the market.
High Cost of Transplant
High procedural cost of NGS-based and PCR-based diagnostic assays and limited reimbursements for target procedures are expected to obstruct market growth. Also the lack of awareness about transplant diagnostics is expected to hinder the market growth.
The Significant Gap Between the Number of Organ Donors and Organs Required
For the transplant annually across the globe is one of the biggest challenge for the market growth. Additionally, some social and ethical issues related to organ transplant can be a challenge to the market growth.
List of Transplant Diagnostic Manufacturers:
The top players operating in the market are Immucor Transplant Diagnostics Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), Hoffman-La Roche Ltd. (Switzerland), GenDx (Netherlands), CareDx (U.S.), Affymetrix Inc. (U.S.), Linkage Biosciences (U.S.), Becton Dickinson and Company (U.S.), Bio-Rad Inc. (U.S.), Illumina Inc. (U.S.), Abbott Laboratories Inc. (U.S.), bioMérieux S.A. (France), QIAGEN NV (Netherlands), and Omixon Ltd. (U.K.) among others.
Global Transplant Diagnostics Market – Industry Trends and Forecast to 2029
North America Transplant Diagnostics Market – Industry Trends and Forecast to 2029
Europe Transplant Diagnostics Market – Industry Trends and Forecast to 2029
Middle East and Africa Transplant Diagnostics Market – Industry Trends and Forecast to 2029
Asia-Pacific Transplant Diagnostics Market – Industry Trends and Forecast to 2029