The adoption of transplant diagnostics (including both pre- and post-transplant screening) is expected to witness a significant rise with increasing prevalence of chronic diseases that can lead to organ failure. The market has gained the interest of healthcare providers owing to various benefits offered by these tests to assess the feasibility of the organ transplant procedure.
Portland, OR -- (SBWIRE) -- 09/29/2017 -- The Transplant Diagnostics Market is in a mature phase in the developed countries, while the emerging regions such as LAMEA and Asia-Pacific hold potential opportunities for transplant diagnostics. Transplant Diagnostics Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $1,031 million by 2022, registering a CAGR of 10% during the period 2016-2022.
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.
One of the major concern globally is the increasing geriatric population. The world population was around 7.34 billion in 2015, while the geriatric population (60+ years) accounted for around 901 million, which is expected to reach around 1.4 billion by 2030. This burden of the continuously rising elderly population drives the transplant diagnostics market, as transplant procedures are majorly required for people above the age of 60, owing to the presence of chronic disease. Thus, the major patient pool for transplant diagnostics is concentrated in this age group, which is expected to drive the transplant diagnostics market.
Key Findings of the Transplant Diagnostics Market:
- 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%.
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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 regardingorgan 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.
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