ID: MRFR/MED/0816-CR | July 2018 | Region: Global | 100 pages
As per the assessment conducted by Market Research Future (MRFR), the Global Transplant Diagnostics Market size is predicted to acquire the market value of USD 2,074.65 Million by 2023 while thriving at a CAGR of 7.80% during the review period from 2018 to 2023.
The growing adoption of transplant diagnostics is expected to be majorly driven by the rising incidence of chronic illness. The increasing funding for research institutes is likely to strengthen the market during the assessment period further. Furthermore, the expanding geriatric population is projected to augment the transplant diagnostics market size. However, the high expenses associated with PCR and NGS instruments are likely to hinder the market growth during the assessment period.
Global Transplant Diagnostics Market is anticipated to decline owing to the outbreak of COVID-19. The pandemic caused various restrictions that hindered the market growth during the lockdown.
Growing Incidence of Organ Failure to Favor the Market
The increasing prevalence of chronic illness among the expanding population is projected to be a significant factor that can grow the market during the forecast period. The rising incidence of chronic ailment can sometimes result in organ failure, which is likely to boost the demand for such transplant diagnostics. Furthermore, the increasing adoption of stem cell therapy and personalized medicine is gaining prominence that is likely to bring a positive impact on the market in the review timeframe.
Rapid Development of Diagnostic Products in Emerging Countries to Offer Significant Opportunity for Expansion
The growing penetration of diagnostic products in emerging economies is expected to be a significant opportunity for market expansion.
High Expenses Associated with PCR and NGS Instruments to Hinder the Market
The expenses associated with PCR and NGS devices are expected to be a significant factor that can impede the market growth during the forecast timeframe.
The Gap between Organ Donation and Transplantation to Pose a Significant Challenge
The widening gap between organ donation and transplantation is expected to pose a significant challenge that can hinder the market growth during the assessment tenure.
Cumulative Growth Analysis
The market is anticipated to show significant growth during the forecast period owing to the growing incidence of chronic illness and increasing organ failure. The increasing demand for an efficient and non-invasive method of medical procedures are expected to play a salient role in expanding the global market. On the flip side, the market can be hindered by the high expenses associated with the PCR and NGS instruments.
By Product & Service
Based on the product & service segments, the global market for transplant diagnostics is segmented into reagents & consumables, instruments, and software & services. The reagents and consumables segment is projected to dominate the market during the forecast period.
Based on applications, the global market for transplant diagnostics is segmented into research applications, diagnostic applications, and others.
Based on end-users, the global market for transplant diagnostics is segmented into commercial service providers, the product comprises hospitals and transplant centers, research laboratories & academic institutes, and others. Among all, the hospitals and transplant centers segment is anticipated to dominate the market during the assessment period owing to the growing demand for diagnosis of infectious diseases.
North America to Acquire the Largest Market Share Owing to the Presence of Developed Healthcare System
As per the assessment by MRFR, the global market is projected to be dominated by North America owing to the presence of developed healthcare infrastructure. The efficient transplant technologies employed in the procedure is expected to be another cause that can augment the regional market during the forecast period. Among all, the U.S. is predicted to acquire the largest market share during the review period owing to the presence of skilled surgeons and the adoption of advanced diagnostic tools.
Europe to Witness Promising Growth during the Forecast Period
Europe is projected to witness promising growth during the forecast period owing to the expanding donor pool. The rising number of transplant procedures and the favorable governmental laws are expected to be other salient cause that can steer the regional industry during the projection period. Among all, the U.K. is predicted to be the leading market over the forecast timeframe.
APAC to Grow Significantly Due To Expanding Patient Pool
APAC is anticipated to grow at a significant CAGR during the review period owing to the expanding patient pool and the developing healthcare infrastructure. Besides, the participation of developing countries such as India and China are projected to be the most lucrative markets, which is another salient factor in strengthening the regional market during the forecast tenure. In addition, the increasing medical tourism destination in APAC, especially in the developing countries, is projected to drive the market significantly in the assessment tenure.
Latin America to Witness Steady Growth during the Review Period
Latin America is predicted to witness steady growth during the review period owing to the increasing acquisition of transplant diagnostic techniques and the rising organ transplantation procedures. Among all, Brazil is anticipated to make the most significant contribution in developing the regional market.
MEA to Acquire the Least Market Share during the Forecast Period
MEA to acquire the least market share during the assessment tenure with steady growth. The region is likely to lag owing to the absence of reimbursement policies and lack of awareness among the populace. However, presence of untapped market opportunities in the region are expected to grow the regional market during the assessment tenure.
Various new players are entering the market, and the established players are acquiring small companies to strengthen their position and expand their reach in the industry, which is anticipated to intensify the market significantly.
Transplant Diagnostics Market, By Product & Service
Transplant Diagnostics Market, By Application
Transplant Diagnostics Market, By End-Users
|Market Size||USD 2,074.65 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product & Service, Screening Type, Organ Type and Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Thermo Fisher Scientific, Inc. (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Hoffman-La Roche Ltd. (Switzerland), Abbott Laboratories Inc (U.S.), CareDx (U.S.), Becton Dickinson and Company (U.S.), Immucor, Inc. (U.S.), QIAGEN N.V. (Netherlands), GenDx (Netherlands), bioMérieux S.A. (France), Omixon Ltd. (U.K.), Illumina, Inc. (U.S.), Affymetrix, Inc (U.S.), Immucor Transplant Diagnostics, Inc (U.S.), Linkage Biosciences (U.S.)|
|Key Market Opportunities||Rapid Development of Diagnostic Products in Emerging Countries to Offer Significant Opportunity for Expansion|
|Key Market Drivers||Growing Incidence of Organ Failure to Favor the Market|
Frequently Asked Questions (FAQ) :
Global Transplant Diagnostics Market is expected to touch a size of USD 2,074.65 million by 2023.
Global Transplant Diagnostics Market can expand at 7.80% CAGR from 2020 to 2027.
Heavy funding to R&D institutes by public-private firms can drive the Global Transplant Diagnostics Market.
Global Transplant Diagnostics Market growth can be impeded due to low awareness of patients.
Reagents & consumables can dominate the product & service segment in the Global Transplant Diagnostics Market.
Hospitals & transplant centers are predicted to be the biggest end-user of the Global Transplant Diagnostics Market.
Bio-Rad Laboratories, Inc., Becton Dickinson and Company, Thermo Fisher Scientific Inc., QIAGEN N.V., F. Hoffmann La Roche Ltd., bioMérieux S.A., and Illumina, Inc. are some of the biggest players of the Global Transplant Diagnostics Market.
Global Transplant Diagnostics Market – Summary
The global transplant diagnostics market is touted to scale the valuation of USD 2,074.65 million during the forecast period (2018-2023), reveals insightful reports of Market Research Future (MRFR). Technological advancements have reduced the healthcare cost and have taken the medical industry miles ahead by helping researchers and doctors in implementing new methods to cure patients. Consequently, this is also going to aid the market in achieving a splendid CAGR of 7.81% by 2023.
Rapid urbanization, along with industrialization moving at express speed, has given rise to expendable incomes among patients. Well-being awareness among the populace has also increased. Thus, as a resultant factor, increase in investment in this sector can be witnessed. People are now more willing to improve the quality of their lives by getting transplantation of numerous human cells, tissues, and organs. According to reports published, in collaboration, by World Health Organization (WHO) and Spain-based Organización Nacional de Trasplantes (ONT), 126,670 organs were transplanted in 2015, of which 41.80% was of the kidney category. In North America, the number was around an astounding 19,484 in 2017. The staggering numbers reveal a much more comprehensive picture of the market and promise future prosperity.
With rising population, critical diseases are also experiencing a surge, which as an upshot is triggering increasing cases of organ failures. For instance, renal diseases can occur due to high blood pressure and diabetes and as a corollary effect, kidney transplant or dialysis becomes imperative.
The past few years have also noted remarkable progress in tissue engineering. However, the achievement has been marred by the shortage of human hepatocytes directly disturbing the said technological advancement. Furthermore, post and intra operative complication risks are also very high due to its complex execution. These factors could pose as market deterrents.
The global market for transplant diagnostic can be segmented by product & service, screening type, organ type, application type, and end-user.
By product & service, the market includes reagents & consumables, and software and services. Diagnostic tests are experiencing innovations across the world and the reason behind the market dominance of reagents & consumables. The market scenario is expected to remain so during the forecast period.
Based on screening type, the market is segmented into pre-transplant and post-transplant screening. Pre-transplant screening had a market valuation of USD 819.04 million in 2017, and the market is expected to reign supreme in the foreseeable future.
Application-wise, the market comprises research applications, diagnostic applications, and others. Favorable government policies have made it easier for companies to get their latest products approved quicker than before. In addition, advents in surgical techniques have facilitated and cemented the market leader’s spot for diagnostic applications. In 2017, this sector was valued at over USD 727.44 million, and the trend is expected to remain the same in coming years.
On the basis of organ type, the market comprises segments such as kidney, liver, heart, lung, pancreas, and others. The kidney segment was valued at USD 819.04 million in 2017 and was the highest among its peers, and its domination is expected to continue during the review period as well.
Based on end-users, the market is segmented into commercial service providers, hospitals & transplant centers, research laboratories & academic institutes, and others. The financial crunch has led many companies to outsource diagnosis testing to hospitals & transplant centers, which has paid off well for the sector’s growth and has made it the current market leader. The scenario is expected to remain the same during the assessment period.
Geographically, the market covers the Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
The Americas are currently dominating the market. Factors such as the prevalence of chronic diseases, progress in the field of human leukocyte antigen (HLA) typing, development of robot-assisted laboratory automation of diagnostic procedures, and growing number of solid, stem cell, and soft tissue based transplantations are boosting the regional market.
Europe accounted for the second largest market. The World Health Organization (WHO) is planning to spread awareness through policies such as WHA57.18 in the region that can boost the sector further in the future.
The APAC is expected to register an astounding growth due to the population demography. Rising number of patients and increasing demand for transplant can act in favor of the market. Also, the region is investing heavily in stem cells to develop organs and in-vitro tissue which have constructive impacts on the market. Along with these factors, the Philippines, Thailand, Indonesia, and India can play significant roles during the forecast period.
A number of factors such as demand for cosmetic and reconstructive surgery, high growth in geriatric population, technological advancements, and the decrease in chances of tissue or organ rejection can impact the transplant diagnostics market. Tissue engineering has proved to be more modern and interdisciplinary in comparison with plastic surgery which can give prove beneficial for the market.
Key players involved in the global transplant diagnostics market are Thermo Fisher Scientific Inc., F. Hoffmann La Roche Ltd., Bio-Rad Laboratories, Inc., QIAGEN N.V., Illumina, Inc., bioMérieux S.A., Becton Dickinson and Company, and others.
Global Transplant Diagnostics Market: Competitive Landscape
Thermo Fisher Scientific Inc., F. Hoffmann La Roche Ltd., Bio-Rad Laboratories, Inc., QIAGEN N.V., Illumina, Inc., bioMérieux S.A., and Becton Dickinson and Company collectively accounted for more than 45% of the market share of the global transplant diagnostics market in 2017. These companies continue to retain their strong global presence through expansions, mergers and acquisitions, and extensive product portfolio.
The global transplant diagnostics market is currently dominated by Thermo Fisher Scientific Inc. with 21.1% of the total market share. Thermo Fisher Scientific with its technically magnificent products and skilled workforce assists its customers to accelerate life science research as well as to get better outcomes in challenging clinical research fields. Through their premier brands Thermo Scientific, Invitrogen, Fisher Scientific Applied Biosystems, and Unity Lab Services cater to several products such as analytical instruments, laboratory supply chain programs and e-commerce, laboratory equipment, lab services, specialty diagnostics, and others
Hoffmann-La Roche Ltd. was the second largest medical device company, with a share of 15% as of 2016. This can be attributed to its product, the Elecsys Immunosuppressive Drug (ISD) assays which is one of the diagnostic assays having high demand in this market. The company has a huge brand image, broad product portfolio, and strong distribution network around the globe. The firm also develops and manufactures pharmaceutical, medical, and diagnostic products. Roche is known for its technological innovations in the transplant diagnostics market.
Becton, Dickinson, and Company accounted for a considerable market share of the global transplant diagnostics market. The large share of the company is attributed to the high demand for blood collection tubes and diagnostic techniques globally. Moreover, this company has a strong sales and distribution network and also provides after-sales services.
Bio-Rad Laboratories, Inc. accounted for 5.5% of the global market share in the transplant diagnostics market in 2017. Bio-Rad Laboratories, Inc. develops, manufactures, and markets products and solutions for life science research and clinical diagnostic markets. It operates through two segments, namely life science and clinical diagnostics. The company operates in Europe, the Pacific Rim, the US, and internationally.
QIAGEN N.V. accounted for 4.9% of the global market share in the transplant diagnostics market in 2017. The company provides insight solutions regarding biological materials worldwide. Moreover, it offers assay technology solutions, DNA purification, ribonucleic acid purification and stabilization, genomic and viral nucleic acid purification, and PCR sequencing. It serves molecular diagnostics, applied testing, pharma, and academic customers.
In the global transplant diagnostics market, more than 200 companies are involved in the manufacturing of various types of diagnostic catheters and instrumentation. Hence, the market is not completely dominated by any one or two players but fairly divided among the top medical device manufacturing companies. Many leading players are focusing on the American and European markets owing to well-established markets, huge patient population, and high healthcare expenditures. These players have expanded their market in other regions as well. Major companies have a huge brand identity and product portfolio. These companies have adopted organic strategies such as product launches and acquisitions to gain the market. These strategies implied by players in this market are for the continuous innovation and development of new and better products to beat the opponents and strive in this big market.