Transplant Diagnostics Market To Generate Revenue Worth $7,713.5 Million in 2030
- Published: December 2023
The global transplant diagnostics market is expected to generate USD 7,713.5 million revenue by 2030, advancing at a CAGR of 7.5% between 2024 and 2030. This can be ascribed to the rising public–private collaboration, the increased funding and strategies for target research activities, the growing burden of severe ailments that result in organ failure, the surging number of organ replacement procedures, and technological advancement in this field across the world.
Moreover, the growing public awareness of organ donation and transplantation shows a positive impact on this market. Many governments and private bodies are taking initiatives for spreading awareness about the benefits of such donations. Treatment of some of the diseases is possible by only replacement. For instance, in 2022, the American Transplant Foundation organized an event for offering DLA Awards to support programs that promote public awareness related to donation and transplantation.
Solid Organ Transplant Category Held the Largest Share
Based on transplant type, the solid organ transplant category accounted for the largest revenue share, of 45%, in 2023, and it is further expected to maintain its dominance during the forecast period. This is due to the rising incidence of infectious and chronic diseases, which can damage parts of the body. In particular damage, transplantation is the only option for specific treatment. Moreover, solid organ transplantation was started as an experimental approach in the 20th century, and now it is a well-established and practical treatment option for patients suffering from end-stage organ dysfunction.
Independent Reference Laboratories Dominate the Industry
Based on end user, the independent reference laboratories category accounted for the largest revenue share and is further expected to maintain its dominance in the forthcoming time frame. This is due to the rapid advancement and automation of diagnostic and reference laboratories and the increasing number of research and development activities. Also, many hospitals tie up with independent laboratories for diagnostic check-ups.
On the other hand, the hospitals and transplant centers category is expected to witness the fastest growth during the forthcoming period, owing to the increasing need for such procedures in hospitals. Most of the transplant procedures are followed in hospitals, due to the presence of related facilities and services in hospitals. Also, many hospitals have their own diagnostic setups and research laboratories.
Geographically, the APAC region is expected to emerge as the fastest-growing market in the coming years. This can be because of the advancement in healthcare infrastructure, the expansion of research outcomes by reference laboratories, a rise in the prevalence of infectious diseases, and high growth in the aging population. Additionally, the regional market is expanding with the economic growth, especially in China and India, which also house a large number of patients with organ dysfunction.
In APAC, the Indian market is showing remarkable growth, due to the growing prevalence of infectious diseases and the presence of a huge geriatric population in the country. Moreover, government and private organizations are taking initiatives for spreading awareness of organ donation. For instance, in 2021, in order to increase the public’s readiness to give organs for transplant procedures in the country, the Organ Receiving and Donating Awareness Network (India) organized a public education campaign.
Moreover, the Australian market will also show significant growth in the coming years. This can be due to several initiatives taken by the government for transplantation, the presence of favorable regulations, the rise in the prevalence of chronic diseases, and the growth in the geriatric population in the country.
Some of the major players of the transplant diagnostics market are bioMérieux S.A., Thermo Fisher Scientific Inc., Bio-Rad Laboratories, Inc., Abbott Laboratories, Hologic Inc., F. Hoffmann-La Roche Ltd., Laboratory Corporation of America Holdings, BAG Diagnostics GmbH, and Illumina Inc.