The global Transplant Diagnostics Market size is expected to reach USD 895.2 million by 2024, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 7.6% over the forecast period. Increasing number of patients suffering from chronic diseases frequently leading to organ failure is creating an upsurge in demand for transplant procedures. In addition, adoption of stem cell therapy and personalized medicine is escalating, thereby influencing demand for transplant diagnostics.
Risks and complexities associated with organ transplants necessitate the need for improved and sophisticated diagnostic tools. Next-Generation Sequencing (NGS) technology is rapidly replacing traditional diagnostic methods, such as serological techniques employed in Human Leukocyte Antigen (HLA) typing, owing to growing demand for high-throughput diagnostic tools with enhanced accuracy.
Market growth is expected to be restrained by factors such as reimbursement controversies and ethical issues in some parts of the world. In addition, high cost of performing HLA matching using Polymerase Chain Reaction (PCR) and NGS devices is challenging the growth of the transplant diagnostics market in developing countries.
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Further key findings from the study suggest:
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Grand View Research has segmented the global transplant diagnostics market on the basis of technology, product, and region:
Transplant Diagnostics Technology Type Outlook (Revenue, USD Million, 2014 – 2024)
Transplant Diagnostics Product Type Outlook (Revenue, USD Million, 2014 – 2024)
Transplant Diagnostics Regional Outlook (Revenue, USD Million, 2014 – 2024)
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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