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.
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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.
Autoimmune Disease Treatment Market – Segmental Analysis:
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 global autoimmune disease treatment 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.
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 the global autoimmune disease treatment 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 autoimmune disease treatment market 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 autoimmune disease treatment market by increasing its healthcare expenditures.
Autoimmune Disease Treatment Market – Competitive Dashboard:
Some of the prominent players profiled in this MRFR report 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.
In January 2019, Cabaletta Bio, launched out of the University of Pennsylvania, has raised USD 50 Mn for the treatment of for cell-based autoimmune disease.
In January 2019, Banner Life Sciences LLC, a privately held specialty pharmaceutical company, has received tentative approval by the U.S. Food and Drug Administration (FDA) for BAFIERTAM developed for the treatment of relapsing forms of Multiple Sclerosis.
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