Global transplant market to reach $753.9 million by 2021: Report

Asia – Pacific region is expected to become the new revenue – generating pockets in the transplant diagnostics market

The global transplant diagnostics market is projected to reach $753.9 million by 2021 from $535.0 million in 2016, at a CAGR of 7.1 per cent between 2016 to 2021, according to marketsandmarket.com. Market growth can be attributed to factors such as the rising number of solid organ, soft tissue and stem cell transplantations; technological advancements in the field of organ transplantation; increased funding, research grants, and public-private investments; technological shift from serological assays to gene-based HLA profiling; and improving healthcare infrastructure across developing countries.

In 2016, North America and Europe are expected to be the mature markets for transplant diagnostics products. However, emerging regions such as Asia-Pacific (including Japan, China, and India) are expected to become the new revenue-generating pockets in the transplant diagnostics market in the next five years. The North American market is expected to hold the largest share of the global transplant diagnostics market in 2016. It is projected to grow at a highest CAGR during the forecast period owing to easy accessibility and high adoption of advanced diagnostic technologies (such as PCR and NGS) among healthcare professionals, increasing prevalence of target diseases (such as cancer, heart failure, and renal diseases) in the US and Canada, and continuous technological advancements in the field of transplant diagnostics.

Europe is expected to hold the second-largest share of the global transplant diagnostics market in 2016. This leading market position of the European market is due to factors such as rising acceptance of genome-based diagnostic techniques by healthcare professionals, large number of organ transplantation procedures performed annually, presence of a large number of biotechnology and molecular diagnostic companies, and rapid growth in the aging population.

Thermo Fisher Scientific, (US) dominated the global transplant diagnostics market with a share of 42 per cent in 2015. In the past three years, the company adopted strategic acquisitions and geographic expansions as key growth strategies to maintain its dominant position in the global transplant diagnostics market. Other leading players present in the market are Immucor, (US), Olerup SSp AB (Sweden), QIAGEN, (Netherlands), Bio-Rad Laboratories, (US), Affymetrix, (US), Illumina  (US), Luminex Corporation, (US), F Hoffmann-La Roche (Switzerland), and Abbott Laboratories, (US), among others.