Global transplant diagnostics Market is Expected to reach $ 1,031 million by 2014-2022 – Acute Market Reports
The Global transplant diagnostics market was $524.7 million in 2015 and is expected to reach $ 1,031 million by 2022, with a CAGR of 10% from 2016 to 2022. Transplant diagnostics are tests done to check the compatibility between the donor and recipient of organ before or after transplant. The adoption of transplant diagnostics (including both pre- and post-transplant screening) is expected to witness a significant rise with increasing prevalence of chronic diseases that can lead to organ failure. The market has gained the interest of healthcare providers owing to various benefits offered by these tests to assess the feasibility of the organ transplant procedure. There have been significant technological advancements in transplant diagnostics to provide advanced diagnostics options for the management of organ transplant. The market is in a mature phase in the developed countries, while the emerging regions such as LAMEA and Asia-Pacific hold potential opportunities for transplant diagnostics.
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World Transplant Diagnostics Market
Subject Matter Expert (SMEs) Perspective According to the perspectives of SMEs of leading companies, growing number of organ transplant procedures, technological advancements, rising incidence of chronic diseases, and increased R&D activities drive this market. However, organ shortage for transplant procedures, challenges in sequencing HLA, and lack of awareness hinder the market growth. Currently, the consumables segment generates maximum revenue. According to the SMEs, the increasing need for organ transplants creates a demand for transplant diagnostics. In addition, majority of the transplant diagnostic manufacturers and distributors focus more on emerging markets due to the potential they hold. The growing burden of chronic diseases in emerging nations is the leading factor for growing focus toward these regions. As per SMEs, North America is expected to dominate the market during the forecast period, followed by Europe.
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Driving Force for Transplant Diagnostics Market One of the major concern globally is the increasing geriatric population. The world population was around 7.34 billion in 2015, while the geriatric population (60+ years) accounted for around 901 million, which is expected to reach around 1.4 billion by 2030. This burden of the continuously rising elderly population drives the transplant diagnostics market, as transplant procedures are majorly required for people above the age of 60, owing to the presence of chronic disease. Thus, the major patient pool for transplant diagnostics is concentrated in this age group, which is expected to drive the transplant diagnostics market.
Transplant Procedures in The U.S, by Age, 2015
Asia had the highest geriatric population in 2015, reported to be 508 million, followed by Europe with 176.5 million. Asia thus holds major potential for the transplant diagnostics market.
Segment review”Tremor is one of the major applications of neuromodulation devices. Tremor is a nerve disorder characterized by uncontrollable shaking or tremors in different parts of the body such as hands, arms, head, larynx (voice box), tongue, and chin. Tremor affects several million people above the age of 40 years. It is majorly caused due to genetic mutations. Tremor impairs routine activities, such as eating, drinking, and writing of patients. Number of implantable deep brain stimulators is now available for the management of tremors. For instance, Medtronic’s deep brain neurostimulators are implanted surgically within the thalamus, which is the brain’s communication center. The lead is connected to an implanted pulse generator by an extension wire running beneath the skin. The electrical stimulation can be noninvasively adjusted to block signals that cause disabling motor symptoms of essential tremor. Increasing prevalence of this disorder, technological improvement in neurostimulator devices, and increasing FDA approvals for neurostimulators are expected to drive the market.
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