WELLESLEY, MA--(Marketwired - November 02, 2016) - The rising global demand for organ transplantation is driving technological innovation. BCC Research reveals in its new report that next-generation sequencing (NGS) is the latest technology trend dominating the competitive landscape of the global transplant diagnostics market.
The transplant diagnostics market offers a platform for organ and tissue transplant procedures by providing reduced error and high accuracy in the methods for carrying out human leukocyte antigen (HLA) typing. To ensure a compatible match between the donor and recipient, the HLA diagnostic test is performed before the organ transplant. The global transplant diagnostics market comprises four segments: components, end users, applications, and regions.
The global transplant diagnostics market should reach $564.2 million and $899.3 million in 2016 and 2021, respectively, growing at a five-year CAGR of 9.8%. Among the major regions, Asia-Pacific should grow the fastest with an anticipated five-year (2016-2021) CAGR of 11.1%. North America, the largest region, should demonstrate a five-year CAGR of 9.6% during the same period.
From a regional perspective, the market should experience rapid growth in developed economies such as the United States and Europe. Continual initiatives by government bodies, medical associations, and key market players are spurring market growth in these two regions. However, both regions face challenges due to a lack of awareness and information about the importance of organ donations and transplant procedures, which are pivotal for growth.
Certain factors such as challenges of HLA sequencing and gaps in supply and demand may constrain market growth. For example, the growing need for organ transplants butts up against the shortage of organs worldwide, which limits the number of transplant procedures performed, which adversely affects the transplant diagnostics procedures.
Market players continue to focus on developing innovative products that can revolutionize the transplant diagnostics market, like NGS. This technology reduces the amount of time and number of errors in transplant diagnostics while also delivering high-quality results for donor and recipient matches.
"A paradigm shift has occurred in the market with the introduction of NGS. NGS allows the processing of millions of sequence reads in parallel rather than 96 at a time," says BCC research analyst Yojana Jeevane. "This convenience has enabled major players in the transplant diagnostics market to focus on this technology for accurate results in HLA typing. Such an innovation that can provide high-quality results will prove significant for the transplant diagnostics market."
Transplant Diagnostics: Technologies and Global Markets (HLC193A) analyzes the technology, applications, and end-users of transplant diagnostic tests by regional segments and sub-segments. The report also evaluates novel and future approaches in terms of biomarkers, bio-printing, and organoidsexamines. Global market drivers and trends, with data from 2015, estimates for 2016, and projections of CAGRs through 2021 also are provided.
About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. Founded in 1971, BCC Research is a unit of Eli Global, LLC. For more information about BCC Research, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.