The global Transplant Diagnostic Market is expected to reach USD 895.2 million by 2024, according to a new report by Grand View Research Inc. The rising demand for organ transplantation is primarily fueling the demand for transplant diagnostics.
Constant healthcare research and development efforts are resulting in the introduction of technically advanced treatments, such as stem cell therapy and organ transplants. As a result, the adoption of these highly-advanced organ transplantation techniques is creating the demand for transplant diagnostics as they reduce the risk of infections and minimize the chances of an immune response through pre-operative assessments including histocompatibility tests, such as Human Leukocyte Antigen (HLA) typing, which determines donor-receiver organ or tissue compatibility prior to organ transplants.
In addition, pertinent organizations are supporting research and development initiatives in the field of organ transplant through grants and funding. As a result, innovative and advanced diagnostic tools are frequently entering into the market. On the other hand, high cost of the diagnostic tests is one of the major factors hindering the growth of the market.
Geographically, the market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa (MEA). North America and Europe together accounted for the largest market share in 2015. Developed economies and well-established healthcare infrastructure coupled with the presence of a highly developed research infrastructure are accelerating the adoption of organ and tissue transplant therapies in Europe and North America. As a consequence, the demand for transplant diagnostics is high in North America and Europe.
Wide adoption of HLA typing owing to its ability to determine organ compatibility between the donor and the receiver preceding organ transplants and to predict potential perioperative immunological complications is driving the growth of the molecular assay market in North America and Europe.
Asia Pacific is expected to show the fastest growth rate during the forecast period owing to the booming medical tourism in countries, such as India. Availability of advanced healthcare infrastructure and skilled professionals at alower costare anticipated to attract patients worldwide to this region for transplant procedures.
In addition, the presence of highly advanced healthcare infrastructure and the ongoing government initiatives to improve healthcare facilities in the country are collectively anticipated to boost the market growth in Japan during the forecast period. As a result, the Asia Pacific market is anticipated to reach USD 216.6 million in 2024.
Browse full research report on Global Transplant Diagnostic Market: http://www.grandviewresearch.com/industry-analysis/transplant-diagnostic-market
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Grand View Research has segmented the Transplant Diagnostic Market on the basis of technology, product, and geography.
Transplant Diagnostic Market by Technology, 2013 – 2024 (USD Million)
Transplant Diagnostic Market by Product, 2013 – 2024 (USD Million)
Transplant Diagnostics Market, by Region, 2013– 2024 (USD Million)
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