Transplant Diagnostic Market: Increase in Number of Cancer & Blood Disorder Patients to Drive the Market – BioSpace

Wilmington, Delaware, United States, Transparency Market Research Inc.: The global transplant diagnostic market was valued at US$ 730.9 Mn in 2017 and is projected to expand at a cumulative annual growth rate (CAGR) of 6.6% from 2018 to 2026 according to a new report published by Transparency Market Research (TMR) titled Transplant Diagnostic Market Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 20182026 the report suggests that increase in number of cancer & blood disorder patients and rise in the demand for accurate and cost-effective transplant diagnostic systems is fueling the transplant diagnostic market between 2018 and 2026.

North America and Europe are projected to dominate the global market owing to the increase in demand for efficient and effective management of transplant diagnostic technique and high adoption rate of transplant of organs. The market in Asia Pacific is projected to expand at a prominent growth rate during the forecast period. Expansion of the market in Asia Pacific is attributed to the large base of hospital & transplant centers and research centers, rising number of geriatric population requiring kidney dialysis services, and increasing awareness regarding donation of organs among young generation in the region. The market for transplant diagnostic in Latin America is likely to expand at a moderate growth rate during the forecast period.

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Technological assay in transplant diagnostic is expected to fuel global market

The global transplant diagnostic market is projected to be potentially driven by the technological assay offered by various transplant diagnostic companies. Transplant diagnostic provides a wide range of features and benefits such as identification of molecules that are expressed on the cells and are involved in the immune rejection of mismatched grafts and recognition of foreign HLA Class 2 antigens, which makes it more feasible for rapid results in transplantation technique. These features help physicians and nurses to streamline the transplantation activity required for the patients in order to maintain their daily workflow efficiently and effectively.

Key players offering transplant diagnostic are developing value-added features such as real-time PCR technology, PCR-enzyme-linked immunosorbent assay, along with imaging modules, thereby reducing the overall operating cost, which in turn improves the overall effectiveness and efficiency of diagnostic practices. Companies are focusing on the development of PCR-based products and expansion of their operations and increase in their market shares. For instance, in April 2016, Siemens and Thermo Fisher Scientific entered into a partnership, allowing Siemens to integrate Thermo Fisher Scientific's real-time PCR technology in its own technology. These value-added features and advanced assay offers rapid and sensitive detection limit, helping improve the overall duration and quality of diagnostics.

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Non-molecular assay is projected to be highly lucrative deployment mode

Non-molecular assays are conventional methods of transplant diagnostic. These assays are employed in developed as well as developing countries in order to detect transplant rejections. Furthermore, these technology-based transplant diagnostic are priced on perpetual license model and are highly priced. Non-molecular assays enable the user to practice antibody-based histocompatibility test that offers low-resolution typing, as compared to molecular assays, and involve culturing together of lymphocytes.

These factors are likely to propel the segment during the forecast period. These non-molecular assay-based techniques addresses specific challenges during identification of the molecules, which expresses on the cells and are involved in the immune rejection of mismatched grafts. The non-molecular assay-based techniques offer rapid results on transplantation and are cost-effective.

Solid organ transplantation application of transplant diagnostic leads the market

The report offers the detailed segmentation of the transplant diagnostic in terms of application into solid organ transplantation and stem cell transplantation. The solid organ transplantation segment is expected to account for a leading share of the market during the forecast period. The factors attributed to the higher share held by the solid organ transplantation segment includes rising incidence of cardiac surgeries, prevalence of kidney related diseases among global population, and the demand for new organs for treatment of cancer by physician and patients. Various reimbursement and Medicare benefits available for patients in treating diseases have led to the high market share held by the solid organ transplantation segment of the global market.

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Hospital & transplant centers segment estimated to dominate the market during the forecast period

In terms of end-user, the hospital & transplant centers segment accounted for a leading share in global transplant diagnostic market. The segment is projected to gain market share by the end of 2026. It is likely to expand at a CAGR more than 7% during the forecast period. Expansion of the conventional serological technique, increasing number of medical facilities from serological assays to genome-based HLA typing for transplant diagnostics, and adoption of large number of donors organs for transplantation practices have led the hospital & transplant centers segment to hold a prominent share of the global transplant diagnostic market.

Increasing number of multinational hospital chains and high digitization budgets are likely to drive the hospital & transplant centers segment during the forecast period. High prevalence and incidence rates of bone injuries, kidney failures, and increase in number of cases of cancer and blood disorder diseases in the global population have led to an increase in patient flow to hospital & transplant centers. These factors are expected to fuel the hospital & transplant centers segment between 2018 and 2026.

Asia Pacific represents potential business development opportunity

North America and Europe accounted for a key share of global transplant diagnostic market in 2017. They are likely to gain market share by the end of 2026. High rate of adoption of transplantation technique for cancer treatment, high submission of healthcare budgets, and government initiatives to promote the donation of organs have contributed to the leading share held by these region in the global transplant diagnostic market. Asia Pacific is projected to be a highly attractive market for transplant diagnostic, and is likely to exhibit a prominent attractiveness index, during the forecast period.

The market in Asia Pacific is projected to expand at a high CAGR of more than 7% during the forecast period. This is due to large number of hospital and transplant centers in emerging economies such as India and China as well as increase in the demand for serological technique-based assays due to their affordability, particularly in developing countries such as China, India, and Malaysia. The market in Latin America is anticipated to expand at a moderate growth rate during the forecast period.

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Key trend of research and development among the leading players to increase geographic presence has been observed in last few years

The report also provides profiles of leading players operating in the global transplant diagnostic market. Bio-Rad Laboratories, Inc., Qiagen N.V., F. Hoffmann-La Roche AG, Thermo Fisher Scientific, Inc., and Becton, Dickinson and Company are a few leading players operating in the global transplant diagnostic market, which account for significant market share. Companies operating in the transplant diagnostic industry are emphasizing on increasing their geographic presence by means of strategic acquisition and collaboration with leading players in respective domains and geography.

In July 2017, Thermo Fisher Scientific acquired Linkage Biosciences. Linkage Biosciences is presently a part of Thermo Fisher's transplant diagnostics business. Through this acquisition, Thermo Fisher currently provides services to more than 1,000 transplant centers in over 60 countries. Other prominent players operating in the global transplant diagnostic include Ortho Clinical Diagnostics (a part of Carlyle Group), Immucor, Inc., Illumina, Inc., Siemens Healthineers (Siemens AG), and Agilent Technologies .

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Transplant Diagnostic Market: Increase in Number of Cancer & Blood Disorder Patients to Drive the Market - BioSpace