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Transplant Diagnostics Market Size is Estimated to be Valued $895.2 Million by 2024: Grand View Research, Inc

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Transplant Diagnostics Market Size is Estimated to be Valued $895.2 Million by 2024: Grand View Research, Inc

September 02
11:30 2019
Transplant Diagnostics Market Size is Estimated to be Valued $895.2 Million by 2024: Grand View Research, Inc

Grand View Research, Inc. – Market Research And Consulting
According to report published by Grand View Research, The global transplant diagnostics market size was valued at USD 500.1 million in 2016 and is likely to expand at a CAGR of 7.6%

The global Transplant Diagnostics Market size is expected to reach USD 895.2 million by 2024, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 7.6% over the forecast period. Increasing number of patients suffering from chronic diseases frequently leading to organ failure is creating an upsurge in demand for transplant procedures. In addition, adoption of stem cell therapy and personalized medicine is escalating, thereby influencing demand for transplant diagnostics.

Risks and complexities associated with organ transplants necessitate the need for improved and sophisticated diagnostic tools. Next-Generation Sequencing (NGS) technology is rapidly replacing traditional diagnostic methods, such as serological techniques employed in Human Leukocyte Antigen (HLA) typing, owing to growing demand for high-throughput diagnostic tools with enhanced accuracy.

Market growth is expected to be restrained by factors such as reimbursement controversies and ethical issues in some parts of the world. In addition, high cost of performing HLA matching using Polymerase Chain Reaction (PCR) and NGS devices is challenging the growth of the transplant diagnostics market in developing countries.

Transplant Diagnostics Market

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Further key findings from the study suggest:

  • PCR-based molecular assay captured the largest share in the overall market in 2016 due to extensive adoption in HLA typing
  • The sequencing-based typing segment is anticipated to witness significant growth from 2016 to 2024. High adoption of NGS is a major factor driving segment growth
  • In 2016, the reagents and consumables segment accounted for the largest market share attributed to repeat purchase
  • North America captured the largest revenue share in 2016 and is expected to maintain its dominance throughout the forecast period due to well-established research infrastructure, increasing healthcare expenditure, high adoption of advanced diagnostic techniques, and growing R&D activities
  • Asia Pacific is expected to witness significant growth during the forecast period owing to expanding research opportunities, healthcare expenditure, medical tourism industry, and awareness regarding organ donation
  • Some major players in this market are Thermo Fisher Scientific, Inc.; Illumina, Inc.; F.Hoffmann La-Roche AG.; Abbott Laboratories, Inc.; Qiagen N.V.; Immucor Transplant Diagnostics, Inc.; Bio-Rad Laboratories, Inc.; Affymetrix, Inc.; and Omixon Ltd.

Transplant Diagnostics Market size

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Grand View Research has segmented the global transplant diagnostics market on the basis of technology, product, and region:

Transplant Diagnostics Technology Type Outlook (Revenue, USD Million, 2014 – 2024)

  • Molecular Assay
    • PCR-based Molecular Assay
    • Sequencing-based Molecular Assay
  • Non-molecular Assay
    • Serological Assay
    • Mixed Lymphocyte Culture Assay

Transplant Diagnostics Product Type Outlook (Revenue, USD Million, 2014 – 2024)

  • Reagents & Consumables
  • Instruments
  • Software and Services

Transplant Diagnostics Regional Outlook (Revenue, USD Million, 2014 – 2024)

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
  • Asia Pacific
    • Japan
    • India
  • Latin America
    • Mexico
    • Brazil
  • Middle East & Africa
    • South Africa

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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