San Francisco, California, Dec. 16, 2014 (GLOBE NEWSWIRE) -- Global autoimmune disease diagnostics market is expected to reach USD 14.17 billion by 2020, according to a new study by Grand View Research, Inc. 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.
Get More Details About Autoimmune Disease Diagnostics Market: http://www.grandviewresearch.com/industry-analysis/autoimmune-disease-diagnostics-industry
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
For the purpose of this study, Grand View Research has segmented the global autoimmune disease diagnostics market on the basis of product and region:
Global Autoimmune Disease Diagnostics Product Outlook (Revenue, USD Billion, 2012 - 2020)
• Systemic Autoimmune Disease Diagnostics
• Rheumatoid Arthritis Diagnostics
• Ankylosing Spondylitis Diagnostics
• Systemic Lupus Erythematosus (SLE)
• Localized Autoimmune Disease Diagnostics
Autoimmune Disease Diagnostics Regional Outlook (Revenue, USD Billion, 2012 - 2020)
• North America
• Asia Pacific
More Information on Global Autoimmune Disease Diagnostics Market: http://www.grandviewresearch.com/industry-analysis/autoimmune-disease-diagnostics-industry
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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