Organ Function Assays Market: Introduction
- An assay can be defined as an analysis done to determine presence, amount, or functional activity of the target entity, also known as analyte, which can be a biochemical substance, drug, or an organic sample
- Functional human tissue assays aid in measuring a range of physiological effects at the level of organ, gene, and cell. These assays are utilized in various fields including drug discovery biology, to investigate the mechanisms underlying the novel drug target, and to validate the target identified in a particular tissue that is capable of eliciting a physiological response.
- A range of assays are available for testing the functioning of various organs, including cardiovascular, kidneys, liver, pancreas, and thyroid gland
Key Drivers and Restraints of Global Organ Function Assays Market
- Changing lifestyle of people and increase in prevalence of lifestyle-related disorders associated with kidneys, liver, and heart, create a demand for organ function assays, thereby fueling the market. Numerous patients suffering from end-stage renal disease, liver cirrhosis, and other fatal conditions and rising mortality among them necessitate the need for effective organ function tests, further contributing to the expansion of the organ function assays market.
- Significant increase in infectious diseases contributes to a rise in need for rapid screening for diseases such as influenza, HIV, dengue, and malaria. Point-of-care tests for infectious diseases lead to efficient and prompt treatment, aiding in prevention of spread of the disease. Rise in demand for point-of-care testing of infectious diseases fuels the organ function assays market.
- According to organdonor.gov, over one million tissue transplant procedures are performed in the U.S. Increase in number of tissue transplant and organ transplant procedures is expected to boost the demand for organ function assays to analyze functionality, thereby fueling the organ function assays market.
North America to Lead Global Organ Function Assays Market
- In terms of region, the global organ function assays market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America dominated the global organ function assays market in 2018, owing to strong presence of leading market players, high awareness among the people concerning organ function assays, increase in product approvals, and high prevalence of lifestyle diseases among people
- Europe was the second-largest market for organ function assays in 2019, followed by Asia Pacific. The organ function assays market in Asia Pacific is projected to expand at a rapid pace, followed by Latin America and Middle East & Africa. Rise in number of non-communicable diseases and increase in government initiatives for improvement of the healthcare industry are estimated to propel the organ function assays market in Asia Pacific.
Key Manufacturers Operating in Global Organ Function Assays Market
Leading players in the global organ function assays market are:
- Alpha Laboratories
- Horiba Ltd.
- Laboratory Corporation of America Holdings
- F. Hoffmann-La Roche AG
- Randox Laboratories
- Thermo Fisher Scientific
- Cylex Inc.
- Johnson & Johnson
- Biobase Group
- Otsuka Holdings Co Ltd
Global Organ Function Assays Market: Research Scope
Global Organ Function Assays Market, by Test Type
- Immune Cell Function Assays
- Liver Function Assays
- Kidney Function Assays
- Integrated Organ Function Assays
Global Organ Function Assays Market, by End-user
- Diagnostic Laboratories
- Academic & Research Institutes
Global Organ Function Assays Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.