The global autoimmune disease diagnostics market was valued at US$12.3 bn in 2014 and is expected to grow at a CAGR of 3.8 % from 2015 to 2023, to reach an estimated value of US$17.1 bn in 2023.
Albany, NY -- (SBWIRE) -- 07/18/2016 -- According to the American Autoimmune Related Diseases Association, an estimated 50 million Americans are affected by autoimmune diseases. Autoimmune diseases can affect one or several different types of body tissue and also cause abnormal organ growth. There are around 80 different types of autoimmune diseases and since many of them have similar symptoms, it is very difficult to distinguish one from the other and diagnose the disease. Some of the most common autoimmune diseases are rheumatoid arthritis, celiac disease, lupus, vitiligo, and psoriasis.
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The global autoimmune disease diagnostics market is fueled by a number of factors including the increase in healthcare expenditure around the world, the higher prevalence of autoimmune diseases across the globe, and the rising awareness regarding autoimmune diseases among the people. While the development of new services, products, and devices and the sustained growth opportunities offered by emerging economies serve as major opportunities for growth for the players within the autoimmune disease diagnostics market, the shortage of skilled labor, the rising cost of equipment, and competitive pricing threaten to impede the expansion of the global market.
On the basis of test type, the autoimmune disease diagnostics market is classified into autoantibody tests, comprehensive metabolic panel, erythrocyte sedimentation rate, antinuclear antibody tests, complete blood count, C-reactive protein, urinalysis, and others. Owing to the major advantages presented by autoantibody tests such as simplicity, speed, and minimal patient discomfort, the segment of autoantibody tests dominates the global autoimmune disease diagnostics market in terms of revenue.
Based on type of disease, the autoimmune disease diagnostics market is segmented into Hashimoto's thyroiditis, rheumatoid arthritis, type 1 diabetes, Graves' disease, multiple sclerosis, systemic lupus erythematosus, and others. Accounting for the largest share in the global autoimmune disease diagnostics market in 2014, rheumatoid arthritis dominates the overall market in terms of revenue. This segment has been driven by the growing incidence of rheumatoid arthritis across the globe and an improvement in laboratory testing for the detection of rheumatoid arthritis.
On the basis of geography, the global autoimmune disease diagnostics market is divided into Asia Pacific, North America, Europe, and Rest of the World. In 2014, North America dominated the overall market for autoimmune disease diagnostics accounting for a 39.0% share in terms of revenue. Europe followed next and the autoimmune disease diagnostics market in both these regions has been driven by the presence of major players, the surge in patient population, and a well-structured distribution channel in place. Asia Pacific is identified to be the most rapidly expanding regional market for autoimmune disease diagnostics by 2023, fueled by the expansion of market players in the region, the rising prevalence of autoimmune diseases, an improvement in the healthcare infrastructure, and several massive untapped opportunities.
The most prominent companies competing in this space are Bio-Rad Laboratories, Quest Diagnostics, Beckman Coulter, Inc., Siemens Healthcare, F. Hoffmann-La Roche Ltd., SQI Diagnostics, Inc., bioMérieux SA, Abbott Laboratories, Inc., and Inova Diagnostics, Inc.
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