Market Research Future Published a Half Cooked Research Report on Global Autoimmune Disease Treatment Market, Increase in research and development expenditure will boost the growth of market during the forecast period 2017- 2023
An autoimmune disorder occurs when the body’s immune system is unable to differentiate between own cells and foreign cells, which causes the body to mistakenly attack normal cells. The most common autoimmune disease symptoms include abdominal pain, recurring fever, swollen glands, fatigue, and joint pain, swelling, and skin problems.
On the regional basis, the Americas autoimmune disease treatment market is segmented into two major regions North America and South America. The North American region holds a major share of the global autoimmune disease treatment market owing to the rising prevalence of autoimmune diseases, existing well-established healthcare system, and improving funding and reimbursement policies.
According to the Centers for Disease Control and Prevention (CDC), the total health expenditure of the United States, in 2015, was USD 3.2 trillion and hospital care accounted a share of 32.3%.
North America is further segmented into the United States and Canada. The United States holds the major share of the market owing to the well-developed economy and rising cases of rheumatoid arthritis. According to a study published in the Rheumatology International journal in 2017, it is found that the prevalence of rheumatoid arthritis in the U.S. ranged from 0.53 to 0.55%. According to the Centers for Disease Control and Prevention (CDC), in 2017, around 22.7% of adults had doctor-diagnosed arthritis with higher prevalence in women i.e. 23.5% than in men i.e. 18.1%.
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Various other factors such as, increasing government assistance, rising prevalence of co-existing disorders, improving regulatory framework, increase in research and development expenditure, rising funding and reimbursement, and increasing adoption rate may contribute to the growth of the global connective tissue disease market.
South America is still a developing region in terms of the infrastructure and technology.
The global autoimmune disease treatment market is segmented on the basis of disease type, diagnosis, therapeutic products, and distribution channels.
Some of key the players in the global autoimmune disease treatment market are Abbott Laboratories, Amgen Inc., Genentech Inc., Bayer Schering Pharma AG, Biogen Idec Inc., Bio-Rad, Chugai Pharmaceutical Co. Ltd., Danaher, Elan Corporation Plc, Eli Lilly and Company, F. Hoffmann-La Roche AG, GlaxoSmithKline Plc, HYCOR Biomedical, Johnson & Johnson Inc., Merck & Co. Inc., Siemens, Squibb Company, Thermo Fisher Scientific, and others.
Notably, growing public awareness, and the increasing prevalence of autoimmune diseases, and other related complications are the key factors driving the autoimmune disease treatment market. Government and other different private associations have started educating people about diseases through seminars, and conferences. For instance, the American Autoimmune Related Diseases Association in collaboration with the National Coalition of Autoimmune Patient Groups conducts a program, named Autoimmune Research Network (ARNet). Through this research network, researchers empowers patients by supporting their participation in research on autoimmune diseases by gathering patient information. This information is majorly helpful during clinical trials.
Various other factors such as technological advancements, unmet medical needs, increasing government assistance, rising prevalence of co-existing disorders, improving regulatory framework, improving funding and reimbursement policies, and increasing adoption rate, are continuously contributing towards the growth of the global autoimmune disease treatment market.
Despite these drivers, there are some issues associated with autoimmune disease treatment market. High cost of treatment, presence of misbranded drugs, side-effects of treatment, and poor healthcare system in low or middle-income countries, may hamper the growth of the market.
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Europe holds the second position in the autoimmune disease treatment market. It is expected that the financial support provided by the government bodies for research & development and amendments in reimbursement policies in the healthcare is likely to drive the European market
Owing to a huge patient pool and developing healthcare technology, Asia Pacific is the fastest growing autoimmune disease treatment market. Healthcare expenditure is also found to be escalating in various Asia Pacific countries. The Australian Institute of Health and Welfare suggested that in the year 2015-2016, the total healthcare expenditure was USD 170.4 billion, which is around 3.6% higher than the expenditure during 2014-2015.
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