Autoimmune Disease Diagnostics Market will accomplish moderate CAGR to exceed $16 Billion by 2024
Autoimmune Disease Diagnostics Market will accomplish moderate CAGR to exceed $16 Billion by 2024
UK dominated the European Autoimmune Disease Diagnostics Market in 2016 and trend is expected to continue over the forecast period, propelled by high research and development activities coupled with increasing economic burden of the autoimmune disorders in the country.
SELLBYVILLE, Del., March 26, 2018 /PRNewswire-iReach/ -- The Industry growth report "Autoimmune Disease Diagnostics Market Size by Product (Systemic {Rheumatoid Arthritis, Ankylosing Spondylitis, Systemic Lupus Erythematosus (SLE)}, Localized), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, U.K, France, Spain, Italy, Japan, China, India, Australia, Brazil, Argentina, Mexico, South Africa, Saudi Arabia) Application Potential, Price Trends, Competitive Market Share & Forecast, 2017 - 2024" by Global Market Insights, Inc. forecast Autoimmune Disease Diagnostics Market share is expected to cross $16 billion by 2024.
Rising prevalence of autoimmune disorders such as rheumatoid arthritis, Hashimoto's thyroiditis, type 1 diabetes and Grave's disease will drive the global autoimmune disease diagnostics market. Growing patient awareness levels pertaining to autoimmune diseases due to the launch of national awareness campaigns will further fuel industry expansion.
Presence of favourable government initiatives such as The Cooperative Study Group for Autoimmune Disease Prevention (CSGADP) and NIH's HLA Region Genetics in Immune-Mediated Diseases Consortium for autoimmune diseases diagnosis and treatment will augment industry growth.
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Advancement in technology such as lab automation developed to cater the need of increasing diagnostic procedures is another growth rendering driver. Moreover, favourable research funding programs conducted by various organizations and NIH to reduce cost burden for these diseases will favour industry expansion.
Lack of skilled healthcare professionals and experts coupled with long and complex diagnosis process for autoimmune disease will hamper business growth. Low lab automation rate leads to increasing diagnosis turnaround time which further impedes the market growth.
Browse key industry insights spread across 100 pages with 59 market data tables & 11 figures & charts from the report, "Autoimmune Disease Diagnostics Market" in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/autoimmune-disease-diagnostics-market
Localized autoimmune disease diagnostics held higher market share in 2016 and should show a similar trend over the forecast years owing to the increasing prevalence of gastrointestinal autoimmune diseases such as Crohn's disease, Grave's disease and multiple sclerosis affecting the specific organ. Systemic disease diagnostics is poised to be the fastest growing segment with a CAGR of 3.9% owing to rising cases of rheumatoid arthritis (RA) and systemic lupus erythematosus (SLE) across the globe.
UK autoimmune disease diagnostics market should witness considerable growth over the coming years. Increasing prevalence of systemic disorders such as rheumatoid arthritis coupled with improving public awareness levels through efforts of organizations such as National Rheumatoid Arthritis Society (NRAS) should augment regional growth.
China autoimmune disease diagnostic market should grow at robust rate with growing prevalence of autoimmune pancreatitis, improving healthcare infrastructure coupled with increased R&D efforts and rising patient awareness levels.
Some of the key industry players operating in global autoimmune disease diagnostics market are Siemens Healthcare, Roche Diagnostics, Abbott Laboratories, BioMerieux, EUROIMMUN and Quest Diagnostics.
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The industry players attempt to enhance their market foothold by opting strategies such as agreements and partnerships. The companies are also developing cost-effective solutions and modules for ease in detection of autoimmune disorders. For instance, in July 2016, FDA cleared
Inova diagnostics' QUANTA Flash dsDNA, QUANTA Flash Scl-70 and QUANTA Flash Jo-1 which aids in the early diagnosis of systemic lupus erythematosus.
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Media Contact: Arun Hegde, Global Market Insights, Inc., +13028467766, sales@gminsights.com
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SOURCE Global Market Insights, Inc.
