Monday, 11 April 2016

Autoimmune Disease Diagnostics Market is Expected to Grow at a CAGR of over 4.0% from 2014 to 2020: Radiant Insights, Inc

Global autoimmune disease diagnostics market is expected to reach USD 14.17 billion by 2020. Growing prevalence of autoimmune diseases coupled with the presence of favorable government initiatives such as the Affordable Care Act is expected to positively reinforce the autoimmune disease diagnostics market. Slow turnaround duration and presence of fewer diagnostic tests catering to nearly 80 disease types and the consequent rise in lab automation rates are expected to drive market growth during the forecast period. Automation of laboratories is expected enable clinicians with the ability to conduct several diagnostic tests simultaneously and generate accurate and rapid results. Technological advances such as the development of novel biomarkers and portable diagnostic point of care equipment are further expected to boost procedure volumes. 
   
Systemic autoimmune disease diagnostics is the most lucrative segment of this market. Presence of high unmet patient needs in disease segments such as rheumatoid arthritis and systemic lupus E. coupled with the introduction of new products for example Avise SLE marker for lupus diagnosis are some factors expected to drive segment growth over the next six years. In addition, implementation of initiatives aimed at developing effective diagnostic and therapeutic solutions for systemic diseases with high prevalence for instance rheumatoid arthritis is further expected to drive segment growth.


Further key findings from the study suggest:
Rheumatoid arthritis emerged as the fastest growing product segment. Its market is expected to grow at a CAGR of over 4.0% from 2014 to 2020. High prevalence of rheumatoid arthritis and the involvement of expensive assessment tests are few factors attributing to its rapid growth.

Localized autoimmune disease diagnostics was the leading product segment of this market in 2013. Extensive presence of commercialized diagnostic products and growing prevalence of gastrointestinal autoimmune disorders are some factors accounting for its large share.

North America was the largest regional market in 2013, accounting for a share of over 40.0%. Its large share is attributed by the introduction of the Affordable Care Act, presence of favorable initiatives undertaken by the AARDA and high disease prevalence levels in the region.

Asia Pacific is expected to witness promising growth over the next six years. Constantly improving healthcare infrastructure and patient awareness levels in the emerging markets of India and China have now opened up new avenues for the manufacturers to capitalize on.


Some key players of the autoimmune disease diagnostics market include Abbott Laboratories, Quest Diagnostics, Siemens Healthcare, Beckman Coulter Inc. and SQI Diagnostics.
Introduction of technologically innovative products such as Celiac panel tests enabling faster IgG & IgA antibodies detection is one of the major sustainability strategies adopted by the market players

Table of Contents
Chapter 1 Executive Summary
Chapter 2 Autoimmune Disease Diagnostics Industry Outlook
              2.1 Market Segmentation
              2.2 Market Size and Growth Prospects
              2.3 Autoimmune disease diagnostics - Market dynamics
              2.3.1 Market Driver Analysis

See More Reports of This Category by Radiant Insights:
·         India Respiratory Disposables Market Outlook to 2021 - http://www.radiantinsights.com/research/india-respiratory-disposables-market-outlook-to-2021
·         India Respiratory Measurement Devices Market Outlook to 2021 - http://www.radiantinsights.com/research/india-respiratory-measurement-devices-market-outlook-to-2021

              2.3.1.2 Presence of research funding programs
              2.3.1.3 Presence of favorable government initiatives
              2.3.1.4 Growing patient awareness levels
              2.3.1.5 Technological innovation in the form of lab automation
              2.3.2 Market Restraint Analysis
              2.3.2.1 Slow diagnostic result turnaround times and lack of skilled healthcare practitioners
               2.4 Key Opportunities Prioritized
               2.5 Industry Analysis - Porter's
               2.6 Autoimmune Disease Diagnostics - PESTEL Analysis

About Radiant Insights
Radiant Insights is a platform for companies looking to meet their market research and business intelligence requirements. We assist and facilitate organizations and individuals procure market research reports, helping them in the decision making process. We have a comprehensive collection of reports, covering over 40 key industries and a host of micro markets. In addition to over extensive database of reports, our experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.

For More Information, Visit Radiant Insights

Contact:
Michelle Thoras
Corporate Sales Specialist, USA
Radiant Insights, Inc
Phone: 1-415-349-0054
Toll Free: 1-888-202-9519
Email:
sales@radiantinsights.com  
Blog URL:
http://www.radiantinsightsinc.blogspot.com

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