The elevating incidence rate of autoimmune diseases across the globe and the growing number of researches on autoimmune disease diagnosis are boosting the market demand.
The global Autoimmune Disease Diagnosis Market is forecast to reach USD 7.37 Billion by 2027, according to a new report by Reports and Data. An increase in awareness of the autoimmune disease through education, research, and advocacy will drive the market demand.
A condition in which one’s immune system mistakenly attacks your body, it is known as an autoimmune disease. Normally, the immune system generally guards the body against foreign invaders, but when one has this disease, the immune system mistakes a part of the body as foreign and starts attacking healthy cells.
Multiple Sclerosis is a disabling condition of the central nervous system that impairs the flow of information within the brain and between the body and the brain. Increasing research related to the signs and treatments related to the disease is expected to drive the market growth. Another challenge faced by the Multiple Sclerosis therapeutics market is the lack of awareness among the people associated with the Multiple Sclerosis condition. The demand for Multiple Sclerosis is expected to increase owing to the new drug developments for treating Multiple Sclerosis, which in turn will drive the demand for the autoimmune disease diagnosis market.
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The COVID-19 impact:
One of the major impacts of COVID-19 on the market has been elevated demand for point-of-care immunodiagnostic tests. The development of these easy-to-use and rapid devices to support testing outside of laboratory settings has been a response of diagnostic test manufacturers to shortages of laboratory-based molecular testing capacity. The increasing focus on large screen testing for COVID-19 has led to a shortage in the supply for diagnostic kits for autoimmune diseases. Diagnostic companies are under immense pressure to provide reliable point-of-care testing capacities
The pharmaceutical and healthcare industry has undergone tremendous change over the recent years, especially with the emergence of the COVID-19 pandemic. Increasing accessibility of advanced healthcare systems and low-cost technologies coupled with growing demand for over-the-counter medications has further changed the dynamics of the industry. Integration of robust technologies such as AI and blockchain have helped pharmaceutical companies reduce capital expenditure and strengthen the global supply chain. Increasing application of biosimilars, shifting focus to in-silico testing of pharmaceutical products, and rising number of product approvals from regulatory authorities are some key factors driving revenue growth of the market.
Increasing expenditure on R&D, growing focus on implementing robust cybersecurity solutions to ensure better medical device connectivity, and development of advanced telehealth software by key companies operating in the field has further added traction to the revenue growth of the market. The global Autoimmune Disease Diagnosis market report discusses the current market scenario with respect to the competitive landscape and offers key insights into the company profiles, product portfolio, production and manufacturing capacity, revenue contribution, and position in the global market. It also provides details on recent mergers & acquisitions, joint ventures, collaboration, and product launches, among others.
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Further key findings from the report suggest
- Consumables and Assay Kits dominated the market for autoimmune disease diagnostic and is forecasted to grow with a CAGR of 8.2% during the forecast period. The segment is driven by an increasing need for rapid diagnosis of autoimmune disease.
- Rheumatoid arthritis is an inflammatory disease that affects the joints. The condition worsens over time unless the inflammation is slowed or stopped. The disease rarely goes into remission without treatment. Statistics show that out of every 100,000 people, 41 are diagnosed with RA every year. Women are about 2-3 times more likely to get RA than men. Hormones in both genders may play a role in either preventing or triggering it.
- Hospital pharmacies are expected to hold a larger market share owing to an increase in the autoimmune disease consultations in clinics and hospitals. The prolonged use of these medications can lead to drug resistance, which compels the patients to refer to a rheumatologist and follow guided therapies. Moreover, the number of OTC Drugs available for treatment is insufficient, which, in turn, is further propelling the growth of this segment.
- The market in Asia-Pacific is anticipated to witness high growth during the forecast period owing to the increasing healthcare expenditure. Furthermore, the low cost of manufacturing in India and China has resulted in an increase in the production facilities, which attracts pharmaceutical and biotechnological giants to the region.
- Key participants include Siemens, Danaher, Thermo Fisher Scientific, Grifols, Abbott, Bio-Rad Laboratories, Werfen, Trinity Biotech, Hycor Biomedical, and Euroimmun, among others.
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For the purpose of this report, Reports and Data have segmented the global Autoimmune Disease Diagnosis Market on the basis of Product, Test Type, Disease, End User, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
- Consumables and Assay Kits
Test Type Outlook (Revenue, USD Billion; 2017-2027)
- Inflammatory markers
- Routine laboratory tests
- Autoantibodies and immunologic tests
- Others tests
Disease Outlook (Revenue, USD Billion; 2017-2027)
- Systemic Lupus Erythematosus
- Rheumatoid Arthritis
- Sjögren’s Syndrome
End-User Outlook (Revenue, USD Billion; 2017-2027)
- Clinical Laboratories
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The report provides a comprehensive analysis of the market scope, supply chains, distribution channels, trends and demands in each region, revenue generation, market size, and presence of prominent companies in each region. It studies the revenue growth of the market in each region and their key countries based on several factor such as macro- and micro-economic growth factors, regulatory framework and policies, investment and funding opportunities, R&D and technological advancements, and growth prospects.
Key Regions Assessed in the Report:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Germany, Italy, France, Rest of Europe)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The report further segments the global Autoimmune Disease Diagnosis market on the basis of product types and applications and offers details about key factors that are expected to drive revenue growth of each segment and sub-segment.
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