LONDON, Feb. 01, 2023 (GLOBE NEWSWIRE) -- The Business Research Company’s research on the “Autoimmune Treatment Market” forecasts the global autoimmune treatment market size to grow from $6 billion in 2022 to $6.8 billion in 2023 at a compound annual growth rate (CAGR) of more than 12%. The autoimmune disease therapeutics market size is expected to grow to $10.9 billion in 2027 at a CAGR of more than 12%.
The increase in investments in research and development of drugs for autoimmune diseases are expected to propel the growth of the autoimmune treatment market going forward. For instance, in January 2020, Kyverna Therapeutics, a US-based biotechnology and cell therapy company, raised $25 million series A funding from Vida Ventures and Westlake Village Bio Partners investors and entered into a strategic partnership with Gilead Sciences. This funding will be used to enhance Kyverna's treatment strategy, which integrates advanced T cell engineering and synthetic biology technologies to inhibit and remove autoreactive immune cells, which are the source of inflammatory diseases.
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Technological advancements are gaining popularity in the autoimmune treatment market trends. Major companies operating in the market are developing advanced technologies to sustain their position in the market. For instance, in January 2020, Predicta Med, an Israel-based healthcare company operating in the autoimmune treatment market, launched Predicta Med which helps in the identification of autoimmune disorders for early detection and intervention. The artificial intelligence technology and machine learning helps to greatly speed up a procedure that generally requires more than four years and at least four different doctors. Also, the accuracy rate increases to 84%, and it can also accurately detect lupus, multiple sclerosis, psoriatic arthritis, and rheumatoid arthritis. This unique platform offers healthcare professionals an AI-powered way of expediting the diagnosis of autoimmune illnesses, which might improve provider efficiency, increase the efficacy of treatment, and improve patient care.
The global autoimmune treatment market is segmented by product into consumables and assay kits, instruments, services; by service type into consultation and diagnosis, therapy and monitoring, drug development; by disease into rheumatoid arthritis, systemic lupus erythematosus, sjögren’s syndrome, thyroiditis, scleroderma, other diseases; by drug class into anti-inflammatory, anti-hyperglycemics, NSAIDs, interferons, other drug class; by end user into clinical laboratories, hospitals, other end users.
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Major players in the autoimmune treatment market are Abbott Laboratories, Amgen, Johnson & Johnson, Eli Lilly & Co., Pfizer, Roche, AstraZeneca Plc, Bristol-Myers Squibb Co., Autoimmune Inc., Siemens Healthcare Private Limited, Thermo Fisher Scientific Inc., Biogen Idec Inc., Bayer Schering Pharma AG, GSK plc, and Genentech Inc.
North America was the largest region in the autoimmune treatment market in 2022. The regions covered in the autoimmune treatment market analysis are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Autoimmune Treatment Market Global Report 2023 by The Business Research Company provides insights on the autoimmune treatment market size, autoimmune treatment market segments, autoimmune treatment market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 3,000+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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