LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global serological transplant diagnostics market to grow at a CAGR of more than 4% during the forecast period, according to their latest report.
The market study covers the present scenario and growth prospects of the global serological transplant diagnostics market for 2017-2021. The report also lists reagents and accessories, and systems as the two major product segments, of which the reagents and accessories segment accounted for a larger portion of the market share in 2016.
According to Srinivas Sashidar, a lead analyst at Technavio for in-vitro diagnostics research, “The global serological transplant diagnostics market is likely to grow at a steady rate during the forecast period. The sales of serological assays, kits, and systems will increase due to the rising incidence of chronic diseases such as kidney disease, end-stage renal disease, coronary artery disease, and acute and chronic hepatitis among all age groups, particularly the geriatric population.
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Technavio analysts highlight the following three market drivers that are contributing to the growth of the global serological transplant diagnostics market:
- Increased incidence of organ failure
- Advancements in technology for organ transplantation
- M&As between small specialized hospitals and Tier-1 hospitals
Increased incidence of organ failure
The Increased consumption of alcohol, unhealthy lifestyle and food habits, and drug use are the leading causes of organ failure. In addition, there is also the increased prevalence of nonalcoholic fatty liver disease (NAFLD). A study estimated that 15%-20% of patients with NAFLD have nonalcoholic steatohepatitis, which increases the demand for liver transplants.
Thus, with the increase in the incidence of organ failure, the demand for organ donors will increase, which will increase the demand for serological transplant diagnostic products, immunosuppressant, and organ preservation solutions.
Advancements in technology for organ transplantation
The development of new and improved transplantation products such as tissue products, tissue typing technology, and surgical medical instruments will drive the growth of the market. Advances in organ preservation have increased the efficiency of organs, which has led to a decrease in waiting time. In addition, vendors offer better and more efficient immunosuppressant drugs for transplant procedures.
“Advanced transplant technology helps avoid infections and monitor organ functioning and the health of patients during and after recovery. Advances in immunosuppressant drugs involve the development and use of monoclonal and polyclonal antibodies to counteract steroid-resistant rejection,” says Srinivas.
M&As between small specialized hospitals and Tier-1 hospitals
The acquisition of small hospitals by large Tier-1 hospitals has improved organ transplantation, wound care, and diagnosis, which has indirectly driven the growth of the global serological transplant diagnostic market. Such acquisitions also help train healthcare staff such as physicians and nurses.
As small hospitals get acquired by larger ones, patients get to avail a range of patient monitoring equipment. Also, owing to the brand value of large hospitals, many people opt to receive healthcare services from them, which increases the need for transplant diagnostic products, assays, and kits. The presence of skilled professionals after such acquisitions will encourage more people to opt for procedures in these hospitals, which will drive the market growth.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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