Autoimmune Disease Diagnostics Market Size, significant challenges, Specifications, Analysis Forecast To 2023

Market Synopsis

Market Research Future (MRFR) asserts that the global autoimmune disease diagnostics market is likely to register a CAGR of 7.6% during the forecast period (2018-2023) owing to an increased prevalence of autoimmune diseases worldwide. Autoimmune disease is considered as a disorder where the body’s own immune system starts to attack the healthy cells in place of the foreign particles and disease-causing agents. Auto antibody test, antinuclear antibody test, complete blood count, C-reactive protein, and erythrocyte sedimentation rate are some of the tests performed for diagnosis of the autoimmune disease. 

Market Potential and Pitfalls

The global autoimmune disease diagnostics market is likely to experience an upsurge owing to the increased prevalence of autoimmune disease, surging awareness regarding autoimmune diseases, and rising expenditure on healthcare. The increasing spending on R&D activities coupled with the aggressive strategies adopted by the top market players like new product launches along with mergers and acquisitions are anticipated to contribute to the market growth across the globe. For instance, Abbott acquired Alere Inc. in October 2017 for USD 5300 million. The deal will enable Abbott to gain control over USD 7000 million diagnostics sales of Alere Inc. and also strengthen their position in the global market.

The increasing occurrences of several diseases like rheumatoid arthritis and Hashimoto’s thyroiditis are likely to influence the market across the globe. Several initiatives taken by the government regarding autoimmune disease diagnosis are further contributing to its growth. As per the American Autoimmune Related Diseases Association, approximately 50 million people from America are suffering from autoimmune related disorders. Such factors are likely to create immense opportunities to the growth of the market.

On the contrary, the surging false positive results along with the price war among the companies are the top barriers likely to vitiate the market growth to some extent during the appraisal period. Moreover, the dearth of education and experience of the lab personnel in diagnosing certain autoimmune diseases are further estimated to slow down the market growth.

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