Rheumatoid Arthritis Market 2022 Receives a Rapid Boost in Economy due to High Emerging Demands by Regional Forecast to 2029

Rheumatoid Arthritis Market 2022

The global Rheumatoid Arthritis Market is all set to witness a CAGR of 4% in the next decade. It is expected to reach US$ 600 Mn by the year 2019. With digitized communication channels making a beeline to the healthcare vertical, the advanced clinics are into virtual consultation mode, and this scenario is expected to continue even going forward. Regulatory approvals for this type of communication are on the way. Close to 70% of the public hospitals worldwide are being asked to adopt digital means. This would be the scene with healthcare vertical in the subsequent period.

Worldwide sales of rheumatoid arthritis diagnosis test kits are likely to reach ~US$ 600 Mn by the end of 2019, unveils the new research study by Persistence Market Research (PMR). According to the report, the rheumatoid arthritis diagnosis test market is estimated to grow by ~ 4% Y-O-Y by the end of 2020, primarily influenced by recent advancements in the rheumatoid arthritis diagnosis test market.

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According to the report, increasing incidences of autoimmune diseases, rise in prescription of off-label nonsteroidal anti-inflammatory drugs (NSAIDs), and other pain management drugs are projected to increase the demand for rheumatoid arthritis diagnosis test kits, thus driving the growth of the rheumatoid arthritis diagnosis test market. Additionally, extensive focus on high sensitivity and specificity of test kits from manufacturers and favorable regulatory guidelines for rapid rheumatoid arthritis diagnostic test kits are expected to fuel the rheumatoid arthritis diagnosis test market growth.

Company Profiles:

Abbott Diagnostics
Antibodies Incorporated
Beckman Coulter, Inc.
Euro Diagnostica AB
Thermo Fisher Scientific Inc.
Qiagen NV
F. Hoffmann-La Roche Ltd.
Siemens Healthcare GmbH

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Introduction of New Test Kits - Cost Effective Yet Reliable

Presently, there are no effective diagnostic measures available for rheumatoid arthritis. The unavailability of effective diagnostic tools has triggered the need for cost effective and more reliable rheumatoid arthritis diagnosis test kits. As a result, companies operating in the rheumatoid arthritis diagnosis test market are now focusing on the development of cost-effective and reliable test methods.

Moreover, the increasing research and development activities to develop biomarker-based rheumatoid arthritis diagnosis test methods are also expected to create new growth opportunities for manufacturers of rheumatoid arthritis diagnosis test kits, profiting the rheumatoid arthritis diagnosis test market growth.

Off-label Prescriptions - Assisting the Market Growth

Currently, there is no effective treatment available for rheumatoid arthritis. However, physicians usually prescribe anti-inflammatory drugs as an off label treatment, which help in reducing joint inflammation among patients suffering from rheumatoid arthritis. Such increased level of off-label prescription by physicians has been leading to the rise in demand for rheumatoid arthritis treatment efficacy monitoring test kits and rheumatoid arthritis diagnosis test kits, globally. This requires continuous monitoring, which could be conducted through various testing methods such as Salicylate Level Count, Muscle Enzyme Tests (CPK, Aldolase), and Creatinine Test. Thus the increasing level of off-label prescription for rheumatoid arthritis is anticipated to support the growth of the rheumatoid arthritis diagnosis test market in the forecast period.

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Strong Presence of Local Manufacturers Shaping the Market

The rheumatoid arthritis diagnostic test kits market is being strongly dominated by local companies. Anti-body detection test kits and serology test kits are manufactured at low cost and do not require economies of scale for profitability. Hence, local manufacturers have lower entry barriers to enter the rheumatoid arthritis diagnosis test kits market. Such low entry barriers provide a competitive advantage to local manufactures of rheumatoid arthritis diagnosis test kits.

Local manufactures thus continue to impose strong competition to global players especially in Asian countries. Thus, the presence of local manufacturers is expected to positively shape the rheumatoid arthritis diagnosis test market.

Limited Specificity and Sensitivity - Still a Challenge

Test kits available in the market have limited specificity and sensitivity towards rheumatoid arthritis, which is a major factor restraining the growth of the rheumatoid arthritis diagnosis test market currently. The conventional test methods such as ESR and RF test, have less specificity and sensitivity. Novel diagnostic test kits such as Anti-cyclic citrullinated peptide (anti-CCP) are providing test results with high specificity and sensitivity. However, due to their high costs, adoption of these tests is a major challenge.  Thus these factors are hampering the overall growth of the rheumatoid arthritis diagnosis test market.

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This release was published on openPR.