Market Research Report
Autoimmune Disease Diagnostics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)
|Autoimmune Disease Diagnostics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)|
Published: May 13, 2021
Mordor Intelligence Pvt Ltd
Content info: 114 Pages
Delivery time: 2-3 business days
The autoimmune disease diagnostics market is expected to register a CAGR of nearly 8.3% during the forecast period. The rising awareness about autoimmune diseases through programs of research, education, support, and advocacy is a key factor boosting the usage rates of autoimmune disease diagnostics, globally. The United States has the highest incidence of autoimmune diseases, wherein about 50 million patients suffer from autoimmune diseases. According to Arthritis Foundation, in 2017 about 54.4 million adults in the United States suffer from diagnosed arthritis. Furthermore, according to the 2017 report of the International Diabetes Federation (IDF), approximately 425 million adults (20-79 years) were suffering from diabetes, and by 2045 this number may rise to 629 million, globally.
Government organizations and NGOs aims to increase awareness about the socioeconomic impact of autoimmunity through fostering and facilitating collaboration in the areas of education, public awareness, research, and patient services in an effective, ethical, and efficient manner. The other factors, such as improved laboratory automation, partnerships with physicians and clinical laboratories, and technological advancements, are driving the autoimmune disease diagnostics market. However, the slow turnaround time of the diagnosis and high frequency of false results are hindering the growth of the autoimmune disease diagnostics market.
Rheumatoid Arthritis Segment is Expected to Hold a Major Market Share in the Autoimmune Disease Diagnostics Market
Rheumatoid arthritis (RA) is an autoimmune disease that mainly attacks the synovial tissues within the joints. The disease predominantly affects elderly patients. The aging population coupled with technological advancements in immunofluorescence and proteomics technologies will further enhance the rheumatoid arthritis diagnosis influencing the segment growth.
The rising prevalence of diseases such as rheumatoid arthritis, Hashimoto's thyroiditis, and the presence of favorable government regulations will render a significant impact on the autoimmune disease diagnostics market growth. As per the American Autoimmune Related Diseases Association, around 50 million Americans currently suffer from autoimmune-related disorders. Moreover, the numbers are expected to escalate over the forecast period. The demand for better and precise diagnostic methods, along with the increasing prevalence, is expected to increase over the forecast period.
Asia-Pacific is the Fastest Growing Region in the Autoimmune Disease Diagnostics Market
Asia-Pacific is anticipated to exhibit extensive market growth over the forecast period, owing to the presence of rising disposable income and increasing patient pool in emerging countries. Furthermore, growing awareness regarding the benefits of early and accurate diagnosis of autoimmune diseases to seek right treatment, rising development of healthcare infrastructure, and growing healthcare expenditure are likely to boost the growth of the autoimmune disease diagnostics market in the Asia-Pacific region.
Growth strategies adopted by the local and international players in the Asia-Pacific region is also propelling the growth of the autoimmune disease diagnostics market. In 2017, ImmunArray, a privately-held molecular device diagnostic company, and Kindstar Global Co. Ltd, a speciality clinical testing company based in Wuhan, forged a partnership to undertake joint clinical testing for lupus, due to the growing prevalence of the disease in China.
The Autoimmune Disease Diagnostics Market is fragmented competitive. The market comprises of major market players, and these players are focusing on R&D activities and significant growth strategies. Recently, a few diagnostic companies entered into strategic partnerships with hospitals. This trend is expected to continue over the next few years, in order to meet the high volume of patient needs, across different regions.
In July 2017, AARDA, in partnership with the Relapsing Polychondritis Awareness & Support Foundation (RPASF), hosted the first Bowling Green Autoimmune Walk and Warriors 5K Fun Run to raise awareness and funding for innovative research. In May 2017, Thermo Fisher Scientific acquired Patheon.
In June 2017, Bio-Rad signed an agreement with VISIA imaging for fully-automated IFA Slide Processing and Reading System. Thus, the market has been witnessing technological developments on a large scale for the past couple of years.