Newark, NJ, Jan. 27, 2020 (GLOBE NEWSWIRE) — As per the report published by Fior Markets, the global autoimmune treatment market is expected to grow from USD 3.28 Billion in 2017 to USD 7.95 Billion by 2025 at a CAGR of 11.68% during the forecast period 2018-2025.
The key contributing factors for the market growth are growing public awareness of autoimmune disease, partnerships with physicians and clinical laboratories, improving laboratory automation, technological advancements and patient protection and affordable care act allowing the coverage.
Autoimmune disease is a hyperactive immune response, where the immune system starts attacking own body cells. The immune deficiency diseases reduces the body’s ability to fight invaders and foreign harmful elements, causing vulnerability to infections. In response to an unknown trigger, the immune system starts producing antibodies that start attacking the body’s own tissue instead of fighting infections. Treatment for autoimmune diseases generally centered on reducing immune system activity. Autoimmune diseases are more commonly caused by genetic, infectious or environmental factors. Increasing cases of autoimmune conditions like rheumatoid arthritis, type I diabetes, etc. have urged for autoimmune drugs. According to the statistics published by the National Institute of Health (NIH), around 23.5 million people in the U.S. alone suffer from autoimmune disease. This has led to an increased need for developing treatment procedures and devices. Some of the most common autoimmune diseases are Type 1 diabetes (the pancreas produces the hormone insulin, which helps regulate blood sugar levels), Rheumatoid arthritis (RA), Psoriasis/psoriatic arthritis, Multiple sclerosis, Systemic lupus erythematosus (SLE), Inflammatory bowel disease etc.
Increasing awareness of autoimmune diseases through programs of education, support, and research, boosting the usage rates. It is evident that the public has become more aware of risk factors for developing autoimmune diseases and to seek diagnosis and begin treatment are some of the factors for the growth of the market. A time-consuming process for the diagnosis of the disease may hamper the growth of the market. However, partnerships with physicians and clinical laboratories, improved laboratory automation and technological advancements boosting the growth of the market in the coming years.
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Key players operating in the global autoimmune treatment market include Abbott Laboratories, Trinity Biotech, Bio-rad Laboratories, F. Hoffmann-la Roche, Inova Diagnostics, Inc., Euroimmun AG, Biomérieux, Siemens Healthineers, Inc., Myriad Genetics, Thermo Fisher Scientific, Amgen, Johnson & Johnson, Eli Lilly & Co., Pfizer and Astrazeneca Plc among others. To enhance their market position in the global autoimmune treatment market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership.
- For instance, in 2017, Roche’s Cobas Cdiff Nucleic acid test received an approval from The US Food and Drug Administration. In the same year, Thermo Fisher Scientific acquired Patheon.
- The market of autoimmune treatments is united and the manufacturers are involved in the development of novel drug discovery and technology to maintain their pace and retain substantial share in the market. For instance, in 2017, BioMérieux, received SERVICE 800 award in an annual conference held in Minneapolis.
The consumables and assay kits segment based segment is anticipated to grow with the highest CAGR of 13.08% over the forecast period
Product and service segment includes consumables and assay kits, instruments and services. The consumables and assay kits segment based segment is anticipated to grow with the highest CAGR of 13.08% over the forecast period. Increasing initiatives by pharmaceutical companies to develop innovative products and these are the key factors to drive the demand of the segment.
Autoantibodies and immunologic tests segment held the largest market share of 33.61% in 2017
Test type segment is divided into segments such as routine laboratory tests, inflammatory markers, autoantibodies, and immunologic tests and other tests. Autoantibodies and immunologic tests based segment held the largest market share of 33.61% in 2017. Disease-specific kits, therapy & monitoring are the key factors will lead to the growth of the segment in the future.
Rheumatoid arthritis segment was valued around USD 1.32 billion in 2017
Disease segment is divided into segments such as rheumatoid arthritis, systemic lupus erythematosus, sjögren’s syndrome, thyroiditis, scleroderma, and other diseases. Rheumatoid arthritis dominated the market and was valued at around USD 1.32 billion in 2017. Rising prevalence of this disease and growing patient awareness levels are major factors for market growth.
Hospital segment is expected to grow with the highest CAGR of 14.39% in the forecast period
End user segment is divided into clinical laboratories, hospitals and other end users. The hospital segment is expected to grow with the highest CAGR of 14.39% in the forecast period.
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Regional Segment Analysis of the Autoimmune Treatment Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. North America region dominated the global autoimmune treatment market with USD 2.16 Billion in 2017 whereas the Asia Pacific region is expected to grow with substantial growth in the forecast period. North America region held the largest share due to presences of large patient base suffering from various autoimmune disorders and availability of high disposable income with the availability of advanced treatments. Asia Pacific is the second-fastest-growing region owing to the rapidly improving healthcare infrastructure, rising patient awareness levels regarding the early treatment of the autoimmune disorders.
About the report:
The global autoimmune treatment market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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