LOS ANGELES, March 05, 2019 (GLOBE NEWSWIRE) -- The global autoimmune disease diagnostics market is forecasted to grow at a stable CAGR around 2.8% during the forecast period 2018 to 2026 and market size to reach around US$ 16 billion by 2026.
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According to the report named “Autoimmune disease diagnostics Market” - Global Industry Analysis, Growth, Share, Size, Trends and Forecast, 2018-2026”, increasing occurrences of diseases, growing demand for better and accurate diagnostic procedures, rising awareness towards the benefits of early diagnosis, various research and development activities, and initiatives taken by favourable governments regulations are some of the key factors that are fueling the autoimmune disease diagnostics market growth across the globe. Autoimmune diseases are body’s unusual immune reaction that produce antibodies which attack own tissues and cells. This usually causes destruction and weakening of healthy tissues. Auto antibody test, complete blood count, antinuclear antibody test, erythrocyte sedimentation rate and C-reactive protein are some of the tests used for diagnosis of the autoimmune disease. North America is anticipated to witness the highest growth rate over the forecast period owing to the availability of wide range of various better and accurate disease diagnostic methods, early adoption of various advanced diagnostic methods and ongoing technological advancements in the healthcare industry. Awareness programs conducted by various organizations are also playing the major role in the growth of regional autoimmune disease diagnostics market.
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Rising Occurrences of Diseases and Growing Demand for Better and Accurate Diagnostic Procedures to Drive the Global Autoimmune Disease Diagnostics Market Growth
Rising occurrences of various diseases such as Hashimoto’s thyroiditis, rheumatoid arthritis and various initiatives taken by favourable governments are some of the fundamental factors driving the global autoimmune disease diagnostics market growth. According to the American Autoimmune Related Diseases Association, around 50 million people from the region are presently suffering from autoimmune related disorders. This factor is anticipated to create immense opportunities for the global autoimmune disease diagnostics market over the forecast period. The growing demand for improved and accurate diagnostic procedures due to the growth in prevalence of the various diseases is projected to boost the adoption of autoimmune disease diagnostics methods throughout the forecast period. Autoimmune diseases are weakly understood in recent times. In order to develop superior diagnosis and treatment methods the wide-ranging research and development activities are supported by government. Such research activities are expected to further spur the overall market growth. Several initiatives in order to decrease the cost required to cure these diseases is also anticipated to supplement the overalls market growth during the forecast period. Organizations such as Johns Hopkins and Autoimmune Research Network (ARNet) Autoimmune Disease Research Centre are currently carrying research activities in this sector. These organizations are primarily focusing on the development of the different strategies in order to cater the rising economic load. American Autoimmune Related Diseases Association has also taken a large number of initiatives in order to increase the awareness towards the advantages of early diagnosis.
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Asia Pacific to Grow at Highest Rate in Autoimmune Disease Diagnostics Market
Geographically, the global autoimmune disease diagnostics market has been divided into North America, Europe, Asia Pacific, Latin America and Middle East and Africa. North America is anticipated to contribute the highest revenue share and grow at highest CAGR during the forecast period owing to the availability of wide range of various better and accurate disease diagnostic methods, early adoption of various advanced diagnostic methods and ongoing technological advancements in the healthcare industry. Awareness programs conducted by various organizations are also playing the major role in the growth of regional autoimmune disease diagnostics market. Growing inclination towards more advanced disease diagnostics methods and rapid growth in the healthcare industry are supplementing the regional market growth. Asia Pacific is also expected to show substantial growth over the forecast period due to presence of large number of patient base and growing disposable income in the emerging countries. Infrastructural development and early and growing need for accurate diagnosis are some of the key factors fueling the regional market growth.
Market Players
The autoimmune disease diagnostics market is consolidated with a large number of manufacturers. The company profiling of key players in the market includes major business strategies, company overview and revenues. The key players of the market are straZeneca, Inova Diagnostics Inc., Novartis AG, Abbott Laboratories, Pfizer Inc., F. Hoffmann-La Roche, Bio-Rad Laboratories Inc., Hemagen Diagnostics Inc., Beckman Coulter Inc. and Sanofi-aventis.
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