The global autoimmune disease diagnostics market attained a valuation of $4,086.2 million in 2019 and is predicted to exhibit a CAGR of 8.5% between 2020 and 2030. Furthermore, the market is predicted to generate a revenue of $10,012.9 million in 2030. The key factors fueling the advancement of the market are the increasing discoveries of novel biomarkers, rising strategic development activities and initiatives being taken by the key market players, and the growing incidence of autoimmune diseases across the world.
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As per the findings of the John Hopkin’s University, nearly 3% of the population or around 10 million people in the U.S. are affected by autoimmune diseases every year. Moreover, according to the reports of the Myasthenia Gravis Foundation of America in June 2015, in the U.S., out of every 100,000 people, 14–20 individuals suffered from myasthenia in 2014, The disease affected nearly 36,000–60,000 people in the country.
Besides the aforementioned factor, the growing public awareness about autoimmune diseases is also propelling the market growth all over the globe. Numerous conferences are predicted to be held in the second half of 2020 and throughout the next year for raising public awareness about autoimmune diseases and the various advancements being made in the treatment of these diseases. The 12th International Congress on Autoimmunity is set to be held from November 28, 2020 to December 1, 2020, in Athens, Greece.
Additionally, the increasing number of initiatives being taken by several private and public organizations for raising the public awareness of autoimmune diseases is causing a huge upswing in the market advancement. Depending on product, the autoimmune disease diagnostics market is divided into instruments, and consumables and assay kits. Between these, the consumables and assay kits category will dominate the market in the forthcoming years. This will be because of the increasing incidence of autoimmune diseases across the world.
Furthermore, the growing requirement for various tests, including rheumatoid factor (RF) & anti-cyclic citrullinated peptide (CCP) antibody, antinuclear antibody (ANA) immunofluorescence assay (IFA), and enzyme-linked immunosorbent assay (ELISA) will boost the expansion of the market throughout the globe in the coming years. When application is taken into consideration, the autoimmune disease diagnostics market is categorized into multiple sclerosis, rheumatoid arthritis (RA), systemic lupus erythematosus (SLE), scleroderma, sarcoidosis, myasthenia gravis, and Sjögren’s syndrome.
Geographically, the autoimmune disease diagnostics market is predicted to exhibit the fastest growth in the Asia-Pacific region in the upcoming years. This would be a result of the existence of prominent market players, the availability of cost-effective diagnostic tests and affordable labor, soaring geriatric population, and the rising number of initiatives being taken by several private and public organizations for raising the public awareness about autoimmune diseases in the region.
Hence, it can be said with surety that the market would exhibit huge expansion all over the world in the coming years, primarily because of the growing incidence of autoimmune diseases, the surging geriatric population, and the increasing public awareness about autoimmune diseases in several countries around the world.
