Autoimmune Disease Diagnostics Market Analysis, Size ,Share Growth and Forecast to 2020
The rising prevalence of autoimmune diseases and consequent increase in healthcare expenditure globally are the major factors driving the autoimmune disease diagnostics market.
Factors that propel the Global Autoimmune Disease Diagnostics Market are rising cases of autoimmune diseases and surging healthcare expenditure.
Encouraging governmental policies regarding autoimmune diagnostics & research has a positive impact on market demand. Autoimmune diseases are a key cause of women deaths worldwide.
Furthermore, active awareness initiatives regarding diagnosis of diseases may contribute significantly to the global industry during the forecast period (2012 to 2020). A large number of laboratories have begun installing equipment that can carry out several tests simultaneously and deliver quick results. Automation in laboratory procedures ensures greater efficiency.
The worldwide autoimmune disease diagnostics market is categorized on the basis of products and regions. On the basis of products, there are two key segments, namely, localized disease diagnostics and systemic autoimmune disease diagnostics. Owing to greater patient awareness and huge procedure volumes, the localized disease diagnostics segment held the highest share in 2013.
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A number of unmet medical needs in type 1 diabetics is a key factor that drives this segment. The systemic autoimmune disease diagnostics segment mainly involves the diagnosis of diseases, such as rheumatoid arthritis, lupus erythematosus (SLE), and Ankylosing spondylitis. The rheumatoid arthritis segment holds the highest share in the industry because it is the most frequently occurring inflammatory ailment worldwide. It is led by product innovation.
On the basis of geographies, the global autoimmune disease diagnostics market is divided into Europe, Asia Pacific, North America, and Rest of the World. In revenue terms, North America was the largest market in 2013. This region is propelled by a well developed healthcare infrastructure and positive government initiatives, such as the Affordable Care Act and Patient Protection Act.
In terms of yearly expenditure on autoimmune disease diagnostics, North America ranks number one in the overall industry. Moreover, surging per capita spending on healthcare is projected to significantly drive regional growth till 2020. Europe, the second largest market after North America, is propelled by technological advancements and high cases of autoimmune diseases. These technological developments are mainly observed in portable diagnostics equipment and biomarkers. Europe may derive much of its demand for autoimmune disease diagnostics from Eastern Europe.
Being a highly consolidated one, the global market for autoimmune disease diagnostics market witnesses frequent mergers & acquisitions. It is a moderately competitive industry that is led by innovations and price wars. Key competitors in the global industry are Bio Rad, Crescendo Bioscience, Roche Diagnostics, Quest Diagnostics, and Abbott Diagnostics.
In October 2016, IQuity, a diagnostics technology company launched the IQIsolate® technology. This technology helps identify autoimmune anomalies during its early stages. It analyzes the RNA structures in blood samples. Interestingly, IQIsolate® has exhibited ninety percent accuracy in three key medical specialties, namely, rheumatology, gastroenterology, and neurology. The company asserts that its technology can significantly reduce the diagnostics processes of complex autoimmune diseases. It can also differentiate between diseases that show similar symptoms. A striking feature of IQuity’s blood based diagnostic technology is that it helps providers & physicians confirm other types of autoimmune anomalies within a week. It is expected to gradually commercialize newer test panels that focus on rheumatology and gastroenterology.
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