Global Autoimmune Disease Diagnostics Market: Snapshot
The global autoimmune disease diagnostics market is expected to witness a modest growth in the coming years on account of the growing incidences of autoimmune diseases among people worldwide. Efficient autoimmune disease diagnostics has become absolutely essential to tackle this issue. Governments across nations are also increasing their spending towards healthcare in light of these growing incidences of autoimmune diseases. This has also resulted in the research and development of novel diagnostics in order to prevent the spread of autoimmune diseases. Technological advancements in the medicals sector are also fueling the market’s growth. Between 2015 and 2023, the global autoimmune diseases diagnostics market is expected to exhibit a CAGR of 3.8%. The global autoimmune disease diagnostics market is likely to reach US$17.06 bn by 2023. The stiff price competition among players is expected to impact the growth of the market in a negative way.
North America to Continue to Lead in the Autoimmune Disease Diagnostics Market
By geography, North America is expected to lead in the autoimmune disease diagnostics market with the U.S. and Canada contributing the most to the market in the region. These countries have sophisticated healthcare infrastructure and laboratories with advanced techniques. There also exists high level of awareness regarding various medical procedures. The increased healthcare expenditure in the region will also be a contributing factor to the growth of the market in region. Asia Pacific is also expected to witness a rapid growth in the autoimmune disease diagnostics market on account of high demand from countries such as Malaysia, Australia, India, Japan, and China. Advancements in diagnostics devices will push the Asia Pacific autoimmune disease diagnostics market towards witnessing a CAGR of 4.3% between 2015 and 2023.
High Occurrence of Rheumatoid Arthritis to Drive Autoimmune Disease Diagnostics Market
Autoimmune diseases such as Graves’ disease, Hashimoto’s thyroiditis, multiple sclerosis, rheumatoid arthritis, systemic lupus erythematosus, and type1 diabetes are prevalent commonly. Of these, the most prevalent of all diseases is rheumatoid arthritis, which can occur to people falling under any age group. The rheumatoid arthritis segment is estimated to be worth US$4.6 bn by the end of 2022. The growing geriatric population and improved diagnosis of rheumatoid arthritis at improved laboratories will drive the segment towards growth in the coming year. Apart from rheumatoid arthritis, the type 1 diabetes segment is expected to show a healthy growth and exhibit a CAGR of 3.7% between 2015 and 2023.
Unavailability of Trained Professionals to Result in Operational Challenges
There is a dearth of trained professionals in the market which will hamper the growth of this market. In addition to this, a lack of automation will also pose a challenge and hamper the operations in clinical laboratories. Further, the threat of new entrants, mostly local players, will cause leading players to cut down their prices. Slashing down the prices of diagnostic devices so as to stay in the market and remain competitive is projected to have an adverse impact on the global autoimmune disease diagnostics market.
However, on the plus side, the market for autoimmune disease diagnostics is expected to find new opportunities for growth as leading players will leverage the untapped markets in emerging nations and capitalize on them. Players are also expected to concentrate on replacing traditional technologies with latest ones and automate the laboratories. This will help the market to grow. Additionally, the introduction of novel technologies will create promising growth for the market.
Global Autoimmune Disease Diagnostics Market: Overview
The autoimmune disease diagnostics market worldwide is anticipated to undergo a positive rise, owing to the increasing prevalence of autoimmune diseases among humans globally. There is a steady rise in the awareness about these diseases among people, which could prove to be advantageous to the growth of the market. Furthermore, improved support by the government in subsidizing the costs of diagnosis and control of the diseases could enhance the market strength enormously.
Recent advances in medical technology has led to an outbreak of information about autoimmunity genetics. An over 80 autoimmune diseases have been determined until recently, while there are over 300 medicines in the pipeline for further research. There could very well be a possibility of a high level of competition between biotechnological and pharmaceutical industries for research and diagnostics of autoimmune diseases globally.
As per the analysis of the report presented herewith, the global autoimmune disease diagnostics market could be classified according to type of test and type of disease. A study of market segmentation is foretold to help work out growth opportunities in a scrupulous manner.
The authors of the report have equipped the reader with a competent study of the global autoimmune disease diagnostics market in terms of several aspects such as market opportunities, trends, restraining factors, key drivers, and competitive landscape. Readers are expected to acquire a thorough insight of the market which can help plan their business strategies.
Global Autoimmune Disease Diagnostics Market: Trends and Opportunities
The high occurrence of autoimmune diseases such as rheumatoid arthritis (RA), Graves’ disease, systemic lupus erythematosus, and type 1 diabetes among people across all age groups is expected to be a major driver of the world autoimmune disease diagnostics market. The growth in aged population suffering from RA could give a definitive push to the market. Governments and organizations are beginning to recognize and provide a decent coverage toward these diseases and their diagnoses. As a result, upgraded laboratories and diagnostic centers are foreseen to propel the segment markedly.
However, dearth of skilled professionals in the arena may hamper the world autoimmune disease diagnostics market growth in some way or the other. Shortage of automation in laboratories may be a threat to the diagnostics market as well. With a high frequency of false reports, and a high turnaround time of the test results, the market could foresee a setback. Nonetheless, increased awareness and sensitivity toward autoimmune conditions, steady sophistication of diagnostics techniques, and rising economies could help achieve a healthy market for autoimmune disease diagnostics worldwide.
Global Autoimmune Disease Diagnostics Market: Geographical Analysis
Seasoned analysts prognosticate the worldwide autoimmune disease diagnostics market to mainly operate in key geographies such as Europe, Asia Pacific, North America, the Middle East and Africa, Latin America, and the Rest of the World. The report predicts North America to be a principal leader in the market, with Canada and the U.S. holding a significant growth share. These markets foresee immense growth owing to their advanced infrastructure in healthcare and diagnostic labs.
Asia Pacific is also prophesied to experience a brisk growth in the worldwide autoimmune disease diagnostics market due to increasing demand from rapidly advancing countries. India, China, Malaysia, Japan, and Australia are envisaged to be key countries that could contribute the most in this region.
Global Autoimmune Disease Diagnostics Market: Companies Mentioned
The report predicts and names a number of enterprises that could take a lead in the international autoimmune disease diagnostics market. Companies such as Siemens Healthcare, Quest Diagnostics, SQL Diagnostics, Inc., Inova Diagnostics, Inc., and Abott Laboratories are a few amongst the mentioned leading players of the market. The report also profiles important players in the autoimmune disease diagnostics business, which could pave the way for participants to study effective strategies.
The global autoimmune disease diagnostics market is segmented into the following categories:
Global Autoimmune Disease Diagnostics Market by Test Type
- Antinuclear Antibody Tests
- Autoantibody Tests
- Complete Blood Count (CBC)
- Comprehensive Metabolic Panel
- C-reactive Protein (CRP)
- Erythrocyte Sedimentation Rate (ESR)
Global Autoimmune Disease Diagnostics Market by Disease Type
- Graves’ Disease
- Hashimoto’s Thyroiditis
- Multiple Sclerosis
- Rheumatoid Arthritis
- Systemic Lupus Erythematosus (Lupus)
- Type 1 Diabetes
Global Autoimmune Disease Diagnostics Market by Geography
- North America
- Rest of Europe
- Asia Pacific (APAC)
- Rest of APAC
- Latin America (LATAM)
- Rest of LATAM
- Middle East and North Africa (MENA)
- Saudi Arabia
- Rest of MENA
- Rest of the World (RoW)
This report gives access to decisive data, such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report include:
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments