Increasing incidences of autoimmune diseases across the globe and the growing research interest in autoimmune disease diagnosis are boosting market demand.
New York, Aug. 20, 2020 (GLOBE NEWSWIRE) -- 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 the awareness of autoimmune diseases through education, research, and advocacy is driving market demand.
An autoimmune disease is a condition wherein one’s immune system mistakenly attacks the body itself. Normally, the immune system guards the body against foreign invaders, but in an autoimmune 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 for 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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COVID-19 Impact Analysis:
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
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 (RA) 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 Asia Pacific market 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 has 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)
Routine laboratory tests
Autoantibodies and immunologic tests
Disease Outlook (Revenue, USD Billion; 2017-2027)
Systemic Lupus Erythematosus
End-User Outlook (Revenue, USD Billion; 2017-2027)
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/autoimmune-disease-diagnosis-market
Regional Outlook (Revenue, USD Billion; 2017-2027)
Rest of Europe
Rest of APAC
Rest of LATAM
Middle East & Africa
Rest of MEA
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