|02-13-2018 12:26 PM CET - Advertising, Media Consulting, Marketing Research||
Global Rheumatoid Arthritis Diagnosis Test Market to Worth US$ 1,002.0 Mn in 2027
Press release from: Persistence Market Research Pvt. Ltd
Persistence Market Research has come up with revised forecasts on the global rheumatoid arthritis diagnosis test market. According to this latest market report titled ‘Rheumatoid Arthritis Diagnosis Test Market: Global Industry Analysis (2012-2016) and Forecast (2017-2027)’, the global market is expected to expand at a CAGR of 6.3% during the forecast period 2017–2027. The global market is estimated to reach a valuation of more than US$ 1 Bn by the end of the year of assessment from a value of about US$ 545 Mn in 2017.
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The market is segmented based on test type, end user and region. On the basis of test type, the market has been segmented into two segments such as serology tests and monitoring RA treatment efficiency tests. The serology tests segment is further divided into six sub-segments are-erythrocyte sedimentation rate (ESR), rheumatoid factor (RF), anti-cyclic citrullinated peptide (anti-CCP), antinuclear antibody (ANA), uric acid and other tests. The monitoring RA treatment efficiency tests segment is also further divided into salicylate level count, muscle enzyme tests (CPK, Aldolase) and creatinine test. Serology tests segment is expected to be the fastest growing segment over the forecast period, registering the significant CAGR of 6.5% over the forecast period. Increasing incidence of autoimmune diseases, off-label prescription of NSAIDs and other pain management drugs are projected to increase demand for RA diagnosis.
Commercialization of rapid diagnostic test, especially in anti-CCP test would provide key growth opportunities for RA test kits manufacturers. However, higher costs of these test kits and limited sensitivity when performed as individual test are major restraining factors for this market. Revenue contribution from serology segment, the anti-CCP test segment has been estimated to be the highest, accounting for 31.1% of the total rheumatoid arthritis market share in 2016 and is expected to be one of the most lucrative segments over the forecast period. Limited sensitivity of other tests such as ANA antibody and RF test provide competitive advantage over anti-CCP test. However, availability of these tests at remote location of Asia Pacific region is a major challenge for the market.
On the basis of end user, the market has been segmented into diagnostics laboratories, ambulatory surgical centers and hospitals. Ambulatory surgical centers segment is projected to be the fastest-growing segment, registering a 6.6% value CAGR in terms of revenue.
On the basis of region, the rheumatoid arthritis diagnosis tests market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Europe and Asia Pacific regions have been estimated to collectively account for around 60% revenue share in 2016, owing to higher adoption of RA diagnosis test and increasing prevalence rate of autoimmune diseases. However, high RA prevalent region (North America) tend to become saturated in terms of revenue generation, owing to increasing awareness and healthcare spending for RA treatment and monitoring.
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The report begins with an overview of the rheumatoid arthritis diagnosis tests market in terms of value, and a detailed analysis of key trends, drivers and restraints, and opportunities, which are the main factors impelling growth of the rheumatoid arthritis test market. Impact analysis of key growth drivers and restraints based on the weighted average of each of these factors in a model-based approach is included in the report. The report provides in-depth information on potential scope of high-end confirmatory testing kits to provide clients with crystal clear decision-making insights.
Key players operating in the rheumatoid arthritis diagnosis tests market include Abbott Diagnostics (Abbott Laboratories), Antibodies Inc., Beckman Coulter, Inc., Euro Diagnostica AB, F. Hoffmann-La Roche Ltd., Qiagen NV, Siemens Healthcare GmbH, and Thermo Fisher Scientific Inc., Bio Rad Laboratories Inc. and Genway Biotech, Inc. (Aviva Systems Biology Corp.).
These companies are focusing on commercialization of cost-effective, highly-sensitive and rapid test kits. However, there is stiff competition from local manufacturers owing to low entry barriers and limited awareness about RA test efficiency among physicians.
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Persistence Market Research (PMR) is a U.S.-based full-service market intelligence firm specializing in syndicated re-search, custom research, and consulting services. PMR boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Con-sumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients’ business needs.
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