The Autoimmune Disease Diagnosis Market Size To Reach Almost $7 Bn By 2026 With Several Market Drivers, Including Biomarker Discovery - The Business Research Company
The market is to grow at a consistent rate of 8.6% for the forecast period.
LONDON, April 12, 2022 /PRNewswire/ -- The discovery of biomarker is a key factor driving the growth of the autoimmune diagnostics market in the forecast period. A biomarker refers to a biological molecule present in blood, other bodily fluids, or tissues that indicates if a process is normal or aberrant, or whether a condition or illness exists. A biomarker can be used to determine how effectively the body reacts to an illness or condition's therapy. Also known as a signature molecule or a molecular marker. Biomarkers can be utilized to improve the efficacy and safety of already available drugs as well as to create novel ones.
The global autoimmune disease diagnosis market size is expected to grow from $4.55 billion in 2021 to $4.95 billion in 2022 at a compound annual growth rate (CAGR) of 8.6%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global autoimmune disease diagnostics market is expected to reach $6.89 billion in 2026 at a CAGR of 8.6%.
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Autoimmune Disease Diagnosis Market Trends
With the rising number of coronavirus infections, there has been a growing demand for at-home testing kits. At-home testing is key among trends in autoimmune disease market. Diagnosis of specific autoimmune diseases is difficult due to the broad range of symptoms such that an accurate differential diagnosis can take up to five years. There is no single test that can detect all of the 80 different forms of autoimmune diseases. However, some blood tests can reveal if the body is experiencing an inflammatory response, which is a hallmark of autoimmune illnesses, and guide further investigation. To identify the exact disease, further specialist tests are available.
Market Segmentation And Growth Opportunities
The autoimmune disease diagnosis market is segmented by product into consumables and assay kits, and instruments. The consumables and assay kits is the largest segment of the autoimmune disease diagnosis market by product, accounting for $2,642.4 million or 55.4% of the total market in 2021. It is also expected to be the fastest-growing segment going forward at a CAGR of 8.3%.
The autoimmune disease diagnosis market is segmented by end user into clinical laboratories, hospitals and others, with clinical laboratories accounting for 45.0% of the market, and by test type into routine laboratory tests, autoantibodies tests, immunologic tests and other tests, with routine laboratory tests accounting for 37.2%.
Key Competitors And Their Strategies
The global autoimmune disease diagnosis market is concentrated, with a large number of players. The top ten competitors in the market made up to 25.94% of the total market in 2021. Major players in the market include Siemens Healthineers AG, Abbott Laboratories, Thermo Fisher Scientific Inc., Bio-Rad Laboratories Inc., F. Hoffmann-La Roche Ltd and others.
Player-adopted strategies in the autoimmune disease diagnosis industry include focus on developing diagnostic tests, launching of new products, introducing immunoassay systems for discovery, development and clinical trial monitoring of immunotherapy therapies, and expanding their portfolio of molecular diagnostics solutions through strategic acquisitions.
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