Autoimmune Disease Diagnostics Market Will Touch USD 10,012.9 Million in 2030
The autoimmune disease diagnostics market will touch 10,012.9 million, advancing at an 8.5% CAGR, by 2030. The growth of this industry is because of the finding of new biomarkers, a growing count of strategic development actions among key players, and the rising prevalence of autoimmune illnesses.
Moreover, the enactment of initiatives by different public and private associations to increase consciousness regarding autoimmune illnesses also boosts the expansion of this industry. Similarly, the rising consciousness concerning autoimmune illnesses is also a key factor boosting the progression of this industry.
The routine laboratory category, based on test type, was the highest revenue contributor to the industry in recent years. Moreover, the category will remain the largest, advancing at the fastest rate, during this decade.
This can be because blood tests and serum tests are the first processes, and they must be run multiple times to check for irregularities in the bloodstream. The consumables and assay kits category, based on product, led the autoimmune disease diagnostics market in the past few years. Moreover, this category will remain leading in the coming years, due to the presence of many players offering diagnostic test kits.
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Furthermore, the increasing occurrence of autoimmune illnesses and the rising count of research activities to identify their underlying sources are also boosting this category's growth. Based on application, the rheumatoid arthritis (RA) category will advance at the fastest compound annual growth rate. This can be ascribed to the high prevalence of rheumatoid arthritis across the globe.
In recent years, the hospitals category, based on end user, was the highest revenue contributor to the industry. Moreover, the category will continue this trend during this decade. This can be because of the increasing utilization of technologically developed products and the surging occurrence of chronic autoimmune illnesses.
North America was the largest contributor to the industry in the past few years. This can be ascribed to the rising healthcare expenses, increasing prevalence of autoimmune illnesses, mounting elderly populace, and the presence of major industry players in this continent.
APAC will propel at the fastest compound annual growth rate in the years to come. The presence of key players is a key aspect boosting the need for autoimmune disease diagnostic solutions in this region.
Furthermore, the accessibility of cost-effective diagnostic tests and inexpensive labor, the mounting elderly population, and the increasing consciousness regarding autoimmune illnesses are also boosting the growth of this industry.
It is because of the extensive burdens of autoimmune diseases and the rising awareness of these diseases, the autoimmune disease diagnostics industry will grow continuously in the years to come.
SOURCE: P&S Intelligence
