Autoimmune Disease Diagnostics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029
Global Autoimmune Disease Diagnostics Market: Overview
Autoimmune disease diagnostics market has gained traction due to growing efforts by several vendors undertaking research activities to discover novel biomarkers. Type 1 diabetes, multiple sclerosis, and Addison’s disease are some examples of autoimmune diseases. In these disease conditions, the immune system of an individual mistakenly attacks their own body. Growing instances of autoimmune diseases among worldwide population is fueling the growth of the autoimmune disease diagnostics market.
Broadly, the segmentation of the autoimmune disease diagnostics market performed based on product, types, end-users, and regions. Based on types, the market is bifurcated into localized autoimmune disease diagnostics and systemic autoimmune disease diagnostics. Further, assay kits and analyzers are products available in the market.
Global Autoimmune Disease Diagnostics Market: Growth Dynamics
Increased demand for test kits for autoimmune disease globally is triggering the growth of market. Growing initiatives to spread awareness about autoimmune disease is one of the driving factors for the market. For instance, the American autoimmune related diseases association (AARDA) is a nonprofit organization focused on spreading awareness about autoimmune diseases. The organization carries out different programs for this purpose. This increased awareness about the disease is expected to support the market growth.
Many vendors in the market are investing in research activities to offer innovative products that provide precise results. Besides, they are growing efforts to expand regional reach by numerous strategies such as mergers and acquisitions, collaborations, and partnerships. All these efforts are projected to spur the growth of the global autoimmune disease diagnostics market during coming years. Many insurance companies offer coverage for autoimmune diseases. This has opened access for many people to get treatment for these disease conditions, which in turn is pushing the growth of the global autoimmune disease diagnostics market.
Global Autoimmune Disease Diagnostics Market: Notable Development and Competitive Landscape
The autoimmune disease diagnostics market is witnessing tremendous growth opportunities. Numerous companies involved in the market are chasing mergers and acquisition strategies. For instance, Danaher Corporation announced the acquisition of the Biopharma business from General Electric Company's Life Sciences division. This move by the firm is expected to have a positive impact on the market growth.
Many vendors are entering into partnerships to offer highly improved products. A case in point here is latest partnership announcement from Exagen Inc. Partners and Sonora Quest Laboratories. The main motive of this partnership is to provide AVISE testing for patients suspected of autoimmune disease. This strategy by both companies will propel the global autoimmune disease diagnostics market.
The autoimmune disease diagnostics market is highly fragmented due to the presence of numerous international and local players contributing to its growth. The list of important players includes:
Global Autoimmune Disease Diagnostics Market: Regional Assessment
Among the key regions, North America is expected to continue its dominance in the market for autoimmune disease diagnostics due to growing instances of autoimmune diseases. Moreover, increased accessibility to medical insurance to major US population is one of the important factors boosting the market growth. Asia Pacific is expected to show prominent growth avenues for the global autoimmune disease diagnostics market. The key reason behind this estimation is said to be the presence of emerging economies such as India, China, and Japan.
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