Lead Expansion of Autoimmune Disease Diagnosis Market

The global autoimmune disease diagnosis market size is expected to reach USD 6.3 billion by 2025 from USD 4.1 billion in 2020, at a CAGR of 8.9%.

The market for Autoimmune Disease Diagnosis is experiencing rapid growth and is projected to expand from $4.1 billion in 2020 to $6.3 billion by 2025, increasing at an impressive 8.9% annual rate. Several key factors are fueling this market’s expansion.

Rising Autoimmune Disease Rates Drive Demand

Perhaps the biggest driver is the high and increasing prevalence of autoimmune conditions like rheumatoid arthritis, lupus, Sjögren’s syndrome and thyroiditis. As these diseases become more common, the need for accurate diagnostic tests grows correspondingly.

Download a PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=174826519

Greater Awareness Spurring Testing

Along with higher disease rates, increased public and medical awareness about autoimmune disorders is prompting more patients to seek testing and diagnosis. Extensive research into understanding and treating these conditions is also contributing to market growth.

Consumables Lead Product Segment

When analyzing the product landscape, the consumables and assay kits segment is expected to see the highest growth rates during the forecast period. This can be attributed to frequent new product launches and approvals in this category meeting rising testing demand.

Routine Tests Dominate Test Types

Among the various diagnostic test types, routine laboratory tests like blood work are estimated to experience the highest growth rates going forward. The widespread availability and affordable costs of these standard tests are key advantages driving adoption.

Europe Leads Regional Markets

Regionally, Europe represented the largest autoimmune disease diagnostic market in 2019, followed by Asia Pacific. Europe’s large population of aging patients susceptible to autoimmune conditions is a major factor underpinning the region’s market leadership.

Prominent Market Players

Major companies operating in this space include Thermo Fisher Scientific, Siemens, Abbott, Danaher, Bio-Rad, Grifols, Trinity Biotech and many others. With escalating demand, intense competition can be expected among these firms to supply innovative diagnostic products.

Siemens AG

Siemens AG (Germany) is among the leaders in the global autoimmune disease diagnosis market in 2018. The company offers its products in the healthcare industry through its business segment of diagnostics, under the Siemens Healthineers. The company is focused primarily on inorganic and organic strategies such as expansion and product launches/approvals. For instance, during December 2018, Siemens expanded its manufacturing unit situated in the Walpole, Mass, United States. The new facility manufactures tests for the immunoassay module of the Atellica Solution. R&D efforts at the site bring new tests to the in-vitro diagnostics market to help physicians diagnose, monitor, and treat diseases. Such development strengthens the position of the company in the market.

Abbott

Abbott (US) is another leading player in the autoimmune disease diagnosis market. The company recorded positive growth in its revenue in 2018, as compared to that of 2017. Moreover, in 2018, the company generated 35% of its total revenue from the United States. The company focuses on organic and inorganic growth, such as collaboration, and product launches/product approval, to strengthen its position in the market. For instance, in 2017, the company entered into a partnership with North West London Pathology for the supply of analytical equipment and consumables, including Abbotts Alinity ci and Alinity h series diagnostics instruments.

In summary, the autoimmune disease diagnostic market is experiencing robust growth propelled by the increasing prevalence of these conditions, greater awareness spurring more testing, and a product mix catering to rising demand. As the population continues aging and autoimmune disease rates climb further, this market’s expansion trajectory seems poised to continue over the coming years.