The global serological transplant diagnostics market will continue exhibiting steady growth in the year 2021 on the back of rising incidence of organ failures such as kidney, heart, and lungs.
Suring demand for reagents & accessories diagnostic sector is driving the serological transplant diagnostics market
The global serological transplant diagnostics market will continue exhibiting steady growth in the year 2021 on the back of rising incidence of organ failures such as kidney, heart, and lungs. The serological transplant diagnostics market is expected to register CAGR of 2.5% over the forecast period of 2021 to 2031, as per a study by Fact.MR.
According to the National Kidney Foundation, more than 2 million people are currently receive treatment for kidney failure across the globe. As per the report, around 10% of people are affected by Chronic Kidney Disease (CKD), worldwide. The rising incidence kidney related diseases are expected to fuel the growth of the serological transplant diagnostics market.
As per a report by the Forum of International Respiratory Societies, around 65 million of the world’s population is suffering from chronic obstructive pulmonary disease, out of which nearly 3 million die from it every year, making it the 3rd leading cause of death across the globe. This demonstrates the increasing need for serological transplant diagnostics.
Over 100,800 organ transplants are executed each year, according to World Health Organization (WHO). Thanks to the initiatives taken by major healthcare organizations and government machineries aimed at improving transplant procedures, the market of serological transplant diagnostic is expected to soar.
“Some of the leading market players are attracted to emerging economies to cater to the unmet medical needs prevalent there. Consequently, they are investing in the development of a wide range of products at affordable rates to strengthen their footprint in these regions,” says the Fact.MR analyst.
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Key Takeaways
- In North America, the U.S. is dominating the market with a splendid rise in demand for serological transplant diagnostics.
- China is witnessing the fastest market growth across the globe for serological transplant diagnostics owing to the high prevalence of organ failures.
- Owing to developed medical healthcare, Germany is expected to dominate the market in Europe.
- India has emerged as a lucrative market for serological transplant diagnostics on the back of the growing healthcare & diagnostics industry in the country.
- Based on product, reagents and accessories account for the largest market share for the global serological transplant diagnostic market.
Key Drivers
- Surging demand for organs transplant will drive the serological transplant diagnostic market.
- Rising number of organ transplantation centers and hospitals is expected to spur market growth.
- Increasing incidence of organ failures will fuel the demand for serological transplant diagnostics.
Key Restraints
- High cost of serological transplant diagnostics is restraining the market growth.
- Shortage of skilled professionals for serological transplant diagnostic is negatively affecting the growth of the market.
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Competitive Landscape
Key players operating in the market profiled by Fact.MR includes Becton Dickinson & Company, ThermoFisher Scientific Inc., Bio-Rad Laboratories Inc., Agena Bioscience Inc., Avioq Inc., Bag Health Care GmbH, Immucor Inc., Siemens Healthineers, and Produkte GmbH. Some of the market players are launching new products to enhance their product portfolio. For instance,
- Bag Health Care GmbH recently launched its wide range of serological transplant diagnostic solutions
- In 2020, in order increase their sales, Siemens Healthineers expanded its serological testing domains, including SARS-CoV-2 testing.
- Recently, Agena Bio Science Inc. launched its new range of rapid and genetic testing solutions
More Insights on the Serological Transplant Diagnostic Market
Fact.MR offers unbiased analysis of the serological transplant diagnostic market. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of product (reagents & accessories, systems), application (kidney transplantation, liver transplantation, heart transplantation, lung transplantation, and others), distribution channel (hospitals, blood banks & transplant centers, donor registries & research laboratories), across seven regions (North America, Latin America, Europe, South Asia, East Asia, Oceania and Middle East & Africa).
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Source: Fact.MR