Autoimmune Disease Diagnostics Market
Autoimmune Disease Diagnostics Market (Test Type - Antinuclear Antibody Tests, Autoantibody Tests, Complete Blood Count (CBC), Comprehensive Metabolic Panel, C-reactive Protein (CRP), Erythrocyte Sedimentation Rate (ESR), and Urinalysis; Disease Type - Graves’ Disease, Hashimoto’s Thyroiditis, Multiple Sclerosis, Rheumatoid Arthritis, Systemic Lupus Erythematosus (Lupus), and Type 1 Diabetes) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2027
Press Release :
- According to Transparency Market Research’s latest report on the global autoimmune disease diagnostics market for the historical period 2017–2018 and forecast period 2019–2027, high prevalence of autoimmune diseases across the world, Increased health care expenditure globally, Growing awareness among people about autoimmune diseases are projected to drive the global autoimmune disease diagnostics market during the forecast period
- According to the report, the global autoimmune disease diagnostics market was valued at US$ 14.4 Bn in 2018 and is anticipated to expand at a CAGR of 3.8% from 2019 to 2027
High Prevalence of Autoimmune Diseases across the World and Increased Health Care Expenditure Globally: Key Drivers
- Rise in the prevalence of autoimmune diseases directly affects the growth and development of the autoimmune disease diagnostics market. The market is estimated to grow at a high rate due to rising incidence of diseases such as systemic lupus erythematosus, rheumatoid arthritis, Hashimoto’s thyroiditis, Graves’ disease, and type 1 diabetes.
- According to the National Institutes of Health, up to 23.5 million Americans (more than seven percent of the population) suffer from an autoimmune disease - and the prevalence is rising. The rising prevalence of autoimmune diseases is likely to fuel the growth of the autoimmune disease diagnostics market. Therefore, consistent increase in the autoimmune patient population across the world has been identified as one of the major factors driving the autoimmune disease diagnostics market.
- Technological advancements in diagnostic techniques for autoimmune diseases have helped extend the life expectancy of people and led to increased cost of treatment. Governments across the world are increasing their spending to provide better health care services. For instance, an analysis based on preliminary government data by the Centers for Medicare & Medicaid Services revealed that health care spending in the U.S. increased by 5% in 2014 as compared to 3.6% in 2013. Apart from developed countries, health care spending is also rising in developing parts of the world such as India and China. These countries are focusing on providing better health care services to a large population base.
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Growing Awareness among People about Autoimmune Diseases Boost Market Growth
- Increasing awareness and knowledge about autoimmune diseases among patients and care-givers would significantly contribute to the growth of the autoimmune disease diagnostics market
- AARDA initiated the formation of the Center for Autoimmune Disease Research at Johns Hopkins University Medical Center and the NIH established Centers of Excellence in autoimmune diseases. AARDA also sponsors various programs and workshops aimed at bringing together researchers from different disciplines involved in autoimmune research. These factors are likely to fuel the growth of the market.
- Rising awareness among people and increasing government initiatives are the major factors driving the autoimmune disease diagnostics market
Competitive Pricing and Equipment Costs to Hamper Market
- The autoimmune disease diagnostics market is characterized by intense competition from local manufacturers that offer products at low cost. This is expected to hamper market growth as competition could lead to fall in prices of the products.
- Moreover, with continuous technological developments in the autoimmune disease diagnostics market with respect to accuracy and efficiency, manufacturers are expected to provide up-to-date solutions to the customers. Customers are in fact hesitant to opt for cost-intensive upgrade procedures as they need to invest more capital for technologically advanced procedures and products.
- Therefore, intense competition among players leading to low cost of products and procedures would hamper the growth of the autoimmune disease diagnostics market during the forecast period from 2019 to 2027
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Global Autoimmune Disease Diagnostics Market: Competitive Landscape
- This report profiles major players in the global autoimmune disease diagnostics market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
- The global autoimmune disease diagnostics market is highly fragmented, with the presence of a number of international as well as regional players
- Leading players operating in the global autoimmune disease diagnostics market are
- Abbott Laboratories, Inc.,
- Beckman Coulter, Inc. ,
- bioMérieux SA,
- Bio-Rad Laboratories,
- F. Hoffmann-La, Roche Ltd.,
- Inova Diagnostics, Inc.,
- Quest Diagnostics,
- SQI Diagnostics, Inc.,
- Siemens Healthcare among others
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Global Autoimmune Disease Diagnostics Market: Key Developments
Key players in the global autoimmune disease diagnostics market are engaged in regulatory approvals, technologically advanced products, launch of new products, and acquisition & collaborative agreements with other companies. These strategies are likely to fuel the growth of the global autoimmune disease diagnostics market. A few expansion strategies adopted by players operating in the global autoimmune disease diagnostics market are:
- In March 2019, Abbott received CE Mark for its Alinity m diagnostics system and assays. This new technology will help keep up with the growing demand for infectious disease testing.
- In June 2016, Beckman Coulter Diagnostics announced that it is ramping up its commercial focus on the Indian subcontinent with a series of steps that will help substantially increase its customer base- small- to large-volume hospital pathology laboratories.
- In February 2019, Roche have entered into a definitive merger agreement with Spark Therapeutics, Inc. at a price of US$ 114.50 per share in an all-cash transaction.
The report on the global autoimmune disease diagnostics market discussed individual strategies, followed by company profiles of manufacturers of autoimmune disease diagnostics. The competitive landscape section has been included in the report to provide readers with a dashboard view and a company market share analysis of key players operating in the global autoimmune disease diagnostics market.
Global Autoimmune Disease Diagnostics Market - Scope of Report
TMR’s report on the global autoimmune disease diagnostics market studies past as well as current growth trends and opportunities to gain valuable insights of these indicators of the market during the forecast period from 2019 to 2027. The report provides revenue of the global autoimmune disease diagnostics market for the period 2017–2027, considering 2018 as the base year and 2027 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global autoimmune disease diagnostics market during the forecast period.
The report has been prepared after an extensive primary and secondary research. Primary research involved bulk of research efforts, wherein analysts carried out interviews with industry leaders and opinion makers. Extensive secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global autoimmune disease diagnostics market.
Secondary research also included Internet sources, statistical data from government agencies, websites, company presentations, sales data, and trade associations. Analysts have employed a combination of top-down and bottom-up approaches to study various phenomenon in the global autoimmune disease diagnostics market.
The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Furthermore, the report sheds light on the changing competitive dynamics in the global autoimmune disease diagnostics market. These indices serve as valuable tools for existing market players as well as for entities interested in entering the global autoimmune disease diagnostics market.
The report delves into the competitive landscape of the global autoimmune disease diagnostics market. Key players operating in the global autoimmune disease diagnostics market have been identified, and each one of these has been profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players in the global autoimmune disease diagnostics market that have been profiled in this report.
Key Questions Answered in Global Autoimmune Disease Diagnostics Market Report
- What is the scope of growth of product companies in the global autoimmune disease diagnostics market?
- What will be the Y-o-Y growth of the global autoimmune disease diagnostics market between 2019 and 2027?
- What is the influence of changing trends in technologies on the global autoimmune disease diagnostics market?
- Will North America continue to be the most profitable market for autoimmune disease diagnostics devices providers?
- Which factors are anticipated to hamper the growth of the global autoimmune disease diagnostics market during the forecast period?
- Which are the leading companies in the global autoimmune disease diagnostics market?
A unique research methodology has been utilized by TMR to conduct comprehensive research on the growth of the global autoimmune disease diagnostics market and arrive at conclusions on its growth prospects. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.
Secondary methods referred to by analysts during the production of the global autoimmune disease diagnostics market report include statistics from company annual reports, SEC filings, company websites, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of TMR’s study on the autoimmune disease diagnostics market as primary methods.
These primary and secondary methods have provided exclusive information during interviews, which serves as a validation from the autoimmune disease diagnostics market leaders. Access to an extensive internal repository and external proprietary databases enabled this report to address specific details and questions about the global autoimmune disease diagnostics market with accuracy. The study also uses the top-down approach to assess the revenues for each segment and the bottom-up approach to counter-validate them. This has helped in reaching TMR’s estimates on future prospects of the global autoimmune disease diagnostics market more reliably and accurately.
Regional Segmentation of Autoimmune Disease Diagnostics Market
- 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
Global Autoimmune Disease Diagnostics Market - Segmentation