Autoimmune Disease Diagnostics Market Detailed Analysis of Market Structure from 2015 to 2023

Despite its vendor landscape being highly consolidated, intense rivalry prevails among key players in the global autoimmune disease diagnostics market. According to Transparency Market Research (TMR), the top four companies held over 50% of the global autoimmune disease diagnostics market in 2014. Among the leading enterprises, F. Hoffmann-La Roche Ltd. held the dominant share of over 17% in the market in the same year.

In response to the increasing demand for effective and advanced autoimmune diseases diagnosis, TMR expects the competition among rivals to surge further. Furthermore, the market demonstrates considerable scope for new entrants. The rising demand for novel and improved autoimmune diagnostics will pave the way for the entry of new players in the market. Contrary to this, competitive pricing, rising R&D investments, and shortening product lifecycles may restrict the entry of new players.

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Increased Prevalence of Autoimmune Diseases a High-impact Driver

Autoimmune diseases affect millions around the world, which makes precise diagnosis extremely important. As per a lead TMR analyst, “The globally increasing incidence of autoimmune diseases is bolstering the demand for autoimmune disease diagnostics globally.”

Governments across both developed and developing nations are exploring efficient diagnosis and therapeutic options to prevent the spread of chronic ailments. This, combined with the rising healthcare spending across emerging nations, will augur well for the autoimmune disease diagnostics market in the forthcoming years. As per the TMR analyst, “The latest technological advancements witnessed in the healthcare sector will further set the tone for the market’s expansion.”

People around the world have become more aware about the prevalence of various autoimmune diseases. This not only encourages them to adopt preventive measures, but creates demand for autoimmune disease diagnostics in case of the occurrence of the disease. This increasing awareness has led to the rising demand for autoimmune diseases diagnostics globally.

Competitive Pricing Strategies by Players Could Hamper Profit Margins

Due to the prevailing competition and threat from local enterprises, the leading market players are compelled to maintain competitive pricing. This could have an adverse impact on the market’s overall growth prospects as the rising competition will slash prices of products. The market is also threatened by the lack of skilled professionals. The unavailability of trained professionals and inadequate automation create operational challenges in clinical laboratories. This could hamper the market’s trajectory in the forthcoming years.

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Companies Looking to Capitalize on Opportunities in Asia Pacific to Expand their Footprint

The future of the autoimmune disease diagnostics market looks promising with multinational companies capitalizing on the opportunities mushrooming in the emerging economies of Asia. Besides this, the companies are also focusing on automating laboratories and replacing conventional technologies. The advent of novel technologies holds lucrative opportunities for the market’s future.

By disease type, rheumatoid arthritis accounted for the largest share in the market in 2014. The segment is expected to remain the dominant segment surging at 4.2% CAGR between 2015 and 2023. Regionally, North America led the global autoimmune disease diagnostics market in 2014 with a share of 39%.

As per TMR, the global autoimmune disease diagnostics market stood at US$12.3 bn in 2014. Rising at a CAGR of 3.8%, the market is expected to reach US$17.06 bn by the end of 2023.

Autoimmune Disease Diagnostics Market Dynamics and Opportunities Report by Transparency Market Research

In 2014, the global autoimmune disease diagnostics market was estimated at US$12.3 bn and by 2023, it is projected to be worth US$17.1 bn, according to Transparency Market Research. The global autoimmune disease diagnostics market will expand at a CAGR of 3.80% during the forecast period from 2015 to 2023. Several factors will play a role in shaping the growth of the global autoimmune disease diagnostics market, the key of which are as follows:

High Prevalence of Autoimmune Diseases to Drive Global Market

The American Autoimmune Related Diseases Association (AARDA) states that around 50 million people in the U.S. are affected by autoimmune diseases. By disease type, the global autoimmune disease diagnostics market is segmented into Graves’ disease, type 1 diabetes, lupus, rheumatoid arthritis, multiple sclerosis, and Hashimoto’s thyroiditis. The rising prevalence of these autoimmune diseases around the world will drive the global autoimmune disease diagnostics market substantially.

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Rising Awareness to Fuel Global Autoimmune Disease Diagnostics Market

The rising awareness around the world about autoimmune conditions will greatly benefit the global autoimmune disease diagnostics market. Furthermore, the awareness about the tests used to diagnose these conditions is also growing. By test, the global autoimmune disease diagnostics market is divided into urinalysis, erythrocyte sedimentation rate (ESR), C-reactive protein (CRP), comprehensive metabolic panel, complete blood count (CBC), autoantibody tests, antinuclear antibody tests, and others.

Expanding Health Care Expenditure to Boost Global Autoimmune Disease Diagnostics Market

The global autoimmune disease diagnostics market will also benefit from the rising healthcare expenditure in both developed and developing regions of the world. Under ObamaCare, the health care expenditure in the U.S. reached US$3.1 trillion last year, which was an increase of 5.5% as per the federal estimates. According to the WHO, the per capita healthcare spending has grown in Southeast Asia since 2001 and the growth rate was particularly high in Myanmar, the Philippines, and Indonesia. The growth was of more than 30% in most other Southeast Asian nations in the past four years.

High Equipment Cost to Challenge Global Market

Although the global autoimmune disease diagnostics market will grow by billions, it will be challenged by the high equipment cost of devices used to diagnose autoimmune diseases. Besides this, the global autoimmune disease diagnostics market will have to tackle the issue of the lack of skilled labor to handle this equipment.

Demand from Emerging Economies to Boost Global Market

By geography, the global autoimmune disease diagnostics market is segmented into Asia Pacific, Europe, North America, and Rest of the World (RoW). Players in the global autoimmune disease diagnostics market will greatly benefit from the sustained growth opportunities provided by the emerging economies of Asia Pacific.

Global Autoimmune Disease Diagnostics Market Propelled by New Product Development

The global autoimmune disease diagnostics market is witnessing a growing demand for autoimmune disease diagnostics. This has led to technical advances resulting in innovative diagnostic procedures delivering improved outcomes. Players in the global autoimmune disease diagnostics market are introducing new products, devices, and services to meet this demand.

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

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