Organ Function Assays Market Significant Profits Estimated to be Generated by 2028
Posted: Jun 07, 2018
Chronic Diseases & Organ Transplantation are Demanding Effective Testing Measures
Increasing prevalence of lifestyle-related disorders associated with liver & kidneys and growing number of organ transplantations are factors boosting the growth of the market from the last decade. Growing number of patients suffering from end-stage renal disease, liver cirrhosis & other fatal conditions, and limited clinical success in curbing the mortality from aforementioned indications is demanding more reliable and effective measures to track the organ functions. Early detection of organ function changes plays a vital role in minimizing the damage caused due to chronic conditions. It also helps in preserving the organ functioning in patients with organ transplantation. Organ function tests are performed at hospitals or home care settings to evaluate the organ functions. Organ function assays are carried out to analyze possible abnormalities in the organ or the functioning of the organ. Organ function tests are conducted across variety of diseases and infections, which can cause acute or chronic damage to vital organs. Organ function assays are performed more specifically to assist the effectiveness of a drug and check the organ function by measuring the marker concentration of an organ. Prognostic marker testing associated with organ function provides a clear picture of organ performance and also gives realistic indication of a patient’s physiological condition.
Request For TOC @https://www.futuremarketinsights.com/toc/rep-gb-6590
Expansion of POC Testing
Organ function assays are also made to measure the drug concentration in the body and whether that drug is causing any specific toxicity to a particular organ. Organ function assays are required to collect a blood sample by venipuncture, and are typically performed in the clinical laboratories using complementary techniques and expensive instrumentation. The conventional methods of sample collection are more invasive in nature, which lead to longer turnaround time to perform a single test. However, the point-of-care testing solution in organ function testing plays a crucial role in minimizing the turnaround time. Evolution of POC marker testing is fueling the growth of organ tests across clinical and ambulatory settings. Emergence of microfluidic technologies in clinical testing is providing economic advantages for the manufacturers of POC liver function tests. However, paper-based POC testing still needs some time to be called as gold standard test for organ function assays. This is due to accuracy issues over other laboratory-based tests.
Factors Driving Organ Function Assays
The global market for organ function assays is driven by increasing incidences of drug-associated toxicities and increasing prevalence of lifestyle-related disorders, such as liver cirrhosis kidney malfunction. The growing number of organ transplantation procedures is another factor driving the demand for organ function assays across the globe. Availability of reimbursement for organ function assays is a preliminary factor increasing the penetration of these products in the matured markets. However, emerging countries of Asia Pacific do not have definite policies for reimbursement of organ function assays, which restricts the market growth in Asia Pacific. Technological advancements in organ function assays is an important factor fueling the growth of the organ function assays market. For instance, introduction of advanced genetic mutation assays have revolutionized the diagnostic assays. Organic function assays can also play a very important role in curing the damage of certain organs, if the test is done at the right time.
Organ Function Assays in ESRD & Liver Disorders
Significant portion of the market has been covered by Immune Cell Function Assays, Liver Function Assay, Kidney Function Assay, & Integrated Organ Function Assay. Liver function assays and kidney function assays segments collectively hold a large revenue share. This is due to higher incidence of long-terms renal & liver conditions. Moreover, the awareness towards prognosis of organ function test is on higher side for kidney and liver disorders, which leads to strong positioning of these segments in the overall market.
Point-of-Care Testing in Outpatient Clinics
Hospitals and diagnostics laboratories segments pose a strong position in the market due to invasive nature of organ function test. These end users share a significant portion of revenue in the overall market. However, continuing growth of point-of-care testing in organ assays, rapid turnaround time of paper base tests, & higher sensitivity and specificity of POC testing will provide remarkable growth opportunities for organ function tests in outpatient clinics, & home care settings. Further, the growing trend of self-diagnostic & home medical testing as prognostic approach would flourish the growth of organ testing.
Regional Market Outlook
Geographically, the global organ function assays market is segmented into five key regions viz. North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. North America will continue to dominate the global market due to the availability of advanced technologies and a high number of laboratory-developed tests. Europe is expected to hold second large market share in the global organ function assays market due to growing prevalence of chronic diseases.
Examples of some of the players identified in the global organ function assays market are Cylex, Inc., LXN Corporation, Alpha Laboratories, Horiba Medical, Laboratory Corporation of America Holdings, F. Hoffmann-La Roche Ltd., Randox Laboratories Ltd, Thermo Fisher Scientific Inc., etc. Majority of organ function assays are available as laboratory-developed tests. The hospitals which provide full organ function assays are Breach Candy hospitals, Apollo Groups of hospitals, John Hopkins hospital. Organ function assays testing varies at regional level owing to variations in terms of available technologies used in laboratory-developed organ function assays. However, point-of-care organ function testing offers a global opportunity to its manufacturers, as they are the common tests perform globally.
Request For Sample @https://www.futuremarketinsights.com/reports/sample/rep-gb-6590
The market sizing of organ function assays will be done by the adoption data triangulation approach. The demand-side approach will be followed to assess the actual market size of organ function assays. Secondary research will be done at the initial phase to identify the feasibility of the target products/technology categories and its respective segments, product and service offerings, equipment installed base in end use facilities, adoption rate and future impact of new technologies. Additionally, per capita consumption of kits, reagents and consumables among end users is tracked at a granular level to obtain the most accurate information. Each piece of information is eventually analyzed during the entire research project which builds a strong base for the primary research information.
Primary research participants include demand-side respondents such as laboratory managers, procurement managers, research supervisors at academic and research institutes, as well as key opinion leaders in addition to supply-side respondents such as equipment and reagent manufacturers, custom solution and service providers who provide valuable insights on trends, research application of products and technologies, purchasing patterns, services offered and associated pricing.
Persistence Market Research (Pmr) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.