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Global Autoimmune Disease Diagnostics Market - Expanding Health Care Expenditure to Boost the Market Growth: Transparency Market Research

Albany, NY, March 15, 2016 (GLOBE NEWSWIRE) -- Transparency Market Research (TMR) announces the publication of a report titled “Autoimmune Disease Diagnostics Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023”. According to a new market report published by Transparency Market Research “Autoimmune Disease Diagnostics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023,” the global autoimmune disease diagnostics market was valued at US$12.3 bn in 2014 and is expected to grow at a CAGR of 3.8 % from 2015 to 2023, to reach an estimated value of US$17.1 bn in 2023.

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Autoimmune diseases are characterized by inflammatory reactions caused by the hyperactive immune response of the body due to damage to own cells and body tissues. There are more than 80 types of autoimmune diseases prevalent in men and women. According to the National Institute of Health (NIH), autoimmune diseases are among the top ten causes of death in women in the U.S. Autoimmune disease diagnostics include the diagnostics procedures and tests that assist in identification of disease type and stage. Symptoms associated with autoimmune diseases include fatigue, inflammation, fever, rashes, and joint pain. The increasing prevalence of autoimmune diseases, rising public awareness and supportive government policies are the major factors driving the global autoimmune disease diagnostics market.

According to the American Autoimmune Related Diseases Association (AARDA), currently, 50 million people in the U.S. are living with autoimmune diseases. In addition, advancement in diagnostic procedures, improved laboratory techniques and growing healthcare expenditure across the world are also expected to propel the market of autoimmune disease diagnostics. For instance, government organizations across the world are increasing their spending to provide better health care services. For instance, an analysis based on preliminary government data by the Centers for Medicare & Medicaid Services revealed that health care spending in the U.S. increased by 5% in 2014 as compared to 3.6% in 2013.

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The global autoimmune disease diagnostics market has been estimated on the basis of test types and diseases. The market for autoimmune disease diagnostics is divided into eight segments on the basis of tests: antinuclear antibody test, autoantibody test, complete blood count, comprehensive metabolic panel, C-reactive protein test, erythrocyte sedimentation rate, urinalysis and others.

Autoantibody tests accounted for the largest market share in 2014 in terms of revenue and continues to dominate the market due to high sensitivity and specificity. Moreover, the main advantages of antibody-based tests are their speed, simplicity, and minimal patient discomfort.

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An article published by the American Association for Clinical Chemistry, stated that over 32 million people in the U.S. have autoantibodies, with antinuclear antibody the most prevalent and common type of antibodies present among women, older individuals, and African-Americans. Thus, the increasing number of people suffering from autoimmune disorders would fuel the market growth during the forecast period. The leadership of autoantibody tests segment was primarily observed due to high sensitivity and specificity. In addition, the main advantages of antibody-based tests are their speed, simplicity, and minimal patient discomfort.

Abbott Laboratories, Beckman Coulter, Inc., F. Hoffmann-La Roche Ltd., Bio- Rad laboratories, bioMerieux and Siemens Healthcare are some of the major players operating in the global autoimmune disease diagnostics market.

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