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.
Key Market Trends
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.
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1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Burden of Autoimmune Diseases and Rising Public Awareness?
4.2.2 Technological Advancements and Improved Laboratory Automation?
4.3 Market Restraints
4.3.1 Slow Turnaround Time of Results and Need for Multiple Diagnostic Tests
4.3.2 High Cost of the Diagnostics
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Disease Type
5.1.1 Systemic Autoimmune Disease
126.96.36.199 Rheumatoid Arthritis
188.8.131.52 Systemic Lupus Erythematosus (SLE)
184.108.40.206 Multiple Sclerosis
220.127.116.11 Other Systemic Autoimmune Diseases
5.1.2 Localized Autoimmune Disease
18.104.22.168 Inflammatory Bowel Disease
22.214.171.124 Type 1 Diabetes
126.96.36.199 Other Localized Autoimmune Diseases
5.2 By Diagnosis
5.2.1 Antinuclear Antibody Tests?
5.2.2 Autoantibody Tests?
5.2.3 Complete Blood Count (CBC)?
5.2.4 C-reactive Protein (CRP)?
5.2.6 Others tests
5.3.1 North America
188.8.131.52 United States
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
18.104.22.168 South Korea
22.214.171.124 Rest of Asia-Pacific
5.3.4 Middle-East & Africa
126.96.36.199 South Africa
188.8.131.52 Rest of Middle-East & Africa
5.3.5 South America
184.108.40.206 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Abbott Laboratories
6.1.3 Bio-rad Laboratories
6.1.4 Euroimmun AG
6.1.5 F. Hoffmann-la Roche
6.1.6 Inova Diagnostics Inc.
6.1.7 Myriad Genetics
6.1.8 Siemens Healthineers Inc.
6.1.9 Thermo Fisher Scientific
6.1.10 Trinity Biotech
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.