Autoimmune Disease Diagnostics Market: Government Initiatives Opening Up Opportunities for New Players

Autoimmune diseases, which occur when the immune system fails to differentiate between good tissues and foreign invaders, require sophisticated diagnostics. Approximately 2 to 5 million people are affected by these self-inflicted diseases in Western World alone. With growing awareness globally and government taking initiatives, there is a steep rise in autoimmune disease diagnostic market and is expected to expand at a CAGR of 3.8% until 2023, opening up opportunities for new entrants in a field that’s been so far dominated by a few leading companies.

Highly sensitive tests require automated laboratories to diagnose autoimmune disorders and tests such as antinuclear antibody (ANA), complete blood count (CBC) and white blood cell count (WBC), C - reactive protein (CRP) are a highly recommended for the initial diagnosis.

Significant number of people around the world suffer from these diseases, primarily in North America which had a market share of 39% in the year 2014. As per a new report from Transparency Market Research (TMR), the global autoimmune disease diagnostic market stood at US$12.3 bn in 2014 and is expected to reach US$17.6 bn by the end of 2023.

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Q. What factors will create demand for autoimmune disease diagnostics?
Awareness regarding autoimmune diseases has increased rapidly across the world, creating a greater demand for the diagnosis and treatment of these diseases. This has reinforced the demand for accurate diagnostics. Governments of both developed and developing countries are investing in initiatives to prevent the spread of chronic ailments.

Q. What are the primary challenges for the autoimmune disease diagnostic market?
One of the key restraints on the global market is the significant lack of skilled labor to create functional laboratories, raising a demand to invest in training of the diagnostic professionals as well as focus on replacing the conventional technologies by automating the laboratories. Moreover, existing competition and threat from local enterprises is compelling leading market players to cut down prices of the product in order to maintain competitive pricing.

Q. Which regions have the biggest demand for autoimmune disease diagnostics?
Geographically, global autoimmune disease diagnostic market is divided into seven primary regions: North America, South America, Eastern Europe, Western Europe and Asia Pacific.
North America, as highlighted earlier, alone accounts for the largest market share in the autoimmune disease diagnostics market due to prevalence of variety of autoimmune disorders historically. Local governments in the region have already started initiatives such as affordable care act and increasing investment in healthcare expense is expected to drive overall volume of the diagnostic market.

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Europe is predicted to be the second biggest market during the time period owing to increased focus on improving healthcare infrastructure. Eastern Europe is largely an untapped market, opening up opportunities for new players in years to come.

Q. Who are the dominant companies in the field of autoimmune disease diagnostics?
Abbott Laboratories, Inc., Beckman Coulter, Inc., F Hoffman-La Roche Ltd., Bio-Rad Laboratories, bioMerieux SA, Siemens Healthcare, Inova Diagnostics Inc., Quest Diagnostics and SQL Diagnostics, Inc. are prominent participants in this market. Recently, Sofinnova Partners and Atlas Venture raised $35 million in the Series A round for their startup named Delinia, currently operational in Cambridge, MA and San Francisco, CA.

Conclusion
Autoimmune diseases have been prevalent since eternity but governments around the world are only now taking steps towards the cure. This calls for a greater requirement of sensitive tests which in turn should boost diagnostic market around the globe.

Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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This release was published on openPR.