Autoimmune Disease Diagnostics Market forecast to reach $16bn by 2024: Global Market Insights Inc. The research report “Autoimmune Disease Diagnostics Market Size by Product (Systemic {Rheumatoid Arthritis, Ankylosing Spondylitis, Systemic Lupus Erythematosus (SLE)}, Localized), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, U.K, France, Spain, Italy, Japan, China, India, Australia, Brazil, Argentina, Mexico, South Africa, Saudi Arabia) Application Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024”, by Global Market Insights, Inc., Autoimmune Disease Diagnostics Market size is set to exceed USD 16 billion by 2024. Rising prevalence of autoimmune disorders such as rheumatoid arthritis, Hashimoto’s thyroiditis, type 1 diabetes and Grave’s disease will drive the global autoimmune disease diagnostics market. Growing patient awareness levels pertaining to autoimmune diseases due to the launch of national awareness campaigns will further fuel industry expansion.
Presence of favorable government initiatives such as The Cooperative Study Group for Autoimmune Disease Prevention (CSGADP) and NIH’s HLA Region Genetics in Immune-Mediated Diseases Consortium for autoimmune diseases diagnosis and treatment will augment industry growth. Advancement in technology such as lab automation developed to cater the need of increasing diagnostic procedures is another growth rendering driver. Moreover, favorable research funding programs conducted by various organizations and NIH to reduce cost burden for these diseases will favor industry expansion. Lack of skilled healthcare professionals and experts coupled with long and complex diagnosis process for autoimmune disease will hamper business growth. Low lab automation rate leads to increasing diagnosis turnaround time which further impedes the market growth. Localized autoimmune disease diagnostics held higher market share in 2016 and should show a similar trend over the forecast years owing to the increasing prevalence of gastrointestinal autoimmune diseases such as Crohn’s disease, Grave’s disease and multiple sclerosis affecting the specific organ. Systemic disease diagnostics is poised to be the fastest growing segment with a CAGR of 3.9% owing to rising cases of rheumatoid arthritis (RA) and systemic lupus erythematosus (SLE) across the globe. 1|Page