Autoimmune Disease Treatment Market Overview
Market Research Future (MRFR)’s latest assessment reveals that the global autoimmune disease treatment market is expected to thrive at 6.90% CAGR during the forecast period 2022 to 2030. The market signifies massive unmet needs for diagnosis. It is projected to favor the expansion of the global market by bringing advanced, precise and effective drugs and treatments.
Definite causes for the development of autoimmune diseases have not been identified. Thus, the emphasis is on the early diagnosis of the disease. Increasing awareness coupled with large-scale prevalence is likely to aid the proliferation of the Autoimmune Disease Treatment Market in the foreseeable future.
Expenditures for the treatment of these diseases are on the rise and is poised to exhibit a similar trend in the forthcoming years. As per the National Institutes of Health (NIH), the U.S., the healthcare expenditure for autoimmune diseases has reached half of that of the cancer expenditure. Furthermore, the introduction of favorable policies for insurance reimbursements are anticipated to augment the market over the next couple of years. However, factors such as side effects, counterfeit drugs, and expensiveness of the treatment are forecasted to check the expansion of the autoimmune disease treatment market across the review period.
Market Segmentation
By disease type, the global autoimmune disease treatment market has been segmented into localized, and systemic. The localized segment is further sub-segmented into multiple sclerosis, inflammatory bowel disease, diabetes, and other. The systemic segment is sub-segmented into rheumatoid arthritis, psoriasis, lupus, and others.
By diagnosis, the autoimmune disease treatment market has been segmented into ELISA, dot blot, line blot, agglutination, double immune diffusion, western blotting, multiplex immunoassay, and others.
By therapeutic products, the market has been segmented into drugs and therapeutic and monitoring equipment. The drugs segment is further sub-segmented into biologics, immunosuppressant, anti-inflammatory drugs, corticosteroids, and non-steroidal anti-inflammatory drugs.
By distribution channel, the autoimmune disease treatment market is segmented into hospitals clinics, diagnostic centers, drug stores, pharmacies, and others.
Regional Analysis
The regional analysis of the autoimmune disease treatment market spans across Asia Pacific, Americas, Europe, and the Middle East Africa. Americas signifies a huge potential for growth owing to increasing patient population. In addition, the increase witnessed in the expenditures associated with medical facilities is prognosticated to favor the expansion of the market over the next couple of years. The region has been estimated to gain control over the largest share of market in the forthcoming years.
The government of Europe has extended firm support in favor of research development in the healthcare sector. This, in turn, is likely to pave the way for the growth of the in the region. It is expected to place the region on the second spot globally over 2023.
Asia Pacific has unleashed immense opportunities in the market through rapid developments witnessed in the healthcare sector. The population has also created a positive influence on the growth of the market by increasing its healthcare expenditures.
Competitive Dashboard:
Autoimmune Disease Treatment Market Players are Abbott Laboratories, Genentech Inc., Bayer Schering Pharma AG, Amgen Inc., Biogen Idec Inc., Chugai Pharmaceutical Co. Ltd., Danaher, Bio-Rad, Elan Corporation Plc, F. Hoffmann-La Roche AG, GlaxoSmithKline Plc, HYCOR Biomedical, Eli Lilly and Company, Johnson Johnson Inc., Siemens, Squibb Company, Merck Co. Inc., and Thermo Fisher Scientific.
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