Market Research Future (MRFR)’s latest assessment reveals that the global autoimmune disease treatment market to thrive at 11.2% CAGR, analysis by Disease Type, Diagnosis, Therapeutic Products and Distribution Channel | Global Forecast to 2023
Autoimmune diseases are maladies in which the immune system of the body attacks the host. There are more than 80 different types of autoimmune diseases, out of which the common ones include rheumatoid arthritis, inflammatory bowel disease (IBD), multiple sclerosis, and others. The global autoimmune disease treatment market report by Market Research Future (MRFR) apprises readers of the pertinent drivers and challenges engulfing the market from 2017 to 2023.
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High prevalence of autoimmune disorders is one of the primary drivers of the market. This is supported by the survey by the National Institute of Health (NIH) which pegs the number of Americans suffering from autoimmune diseases at 23.5 million. The growing public awareness levels as well as the large efforts taken by government healthcare organizations for curbing the menace of these diseases can bode well for the market.
The centralization of patient response to novel drugs and treatments on a common database is likely to expedite the progress of autoimmune drugs exponentially. Technological advances, rising prevalence of comorbidities, rise of regulatory frameworks, and rise of government supported networks are other growth drivers of the market.
But presence of unbranded drugs, side-effects of medications, and high treatment costs are challenges faced by the global autoimmune disease market.
The global autoimmune disease treatment market is segmented on the basis of disease type, diagnosis, therapeutic product, and distribution channel.
By disease type, the market is segmented into systemic and localized. Systemic is further segmented into psoriasis, lupus, rheumatoid arthritis, and others. Localized, on the other hand, is segmented into diabetes, inflammatory bowel disease, and others.
By diagnosis, the autoimmune disease treatment market is segmented into multiplex immunoassay, agglutination, dot blot, line blot, ELISA, double immune diffusion, Western blotting, and others.
By therapeutic product, it is segmented into drugs and therapeutic & monitoring equipment. Corticosteroids, immunosuppressants, biologics, anti-inflammatory drugs, and non-steroidal anti-inflammatory drugs are segments subsumed within the drugs segment.
By distribution channel, it is segmented into pharmacies, drug stores, hospitals & clinics, diagnostic centers, and others.
The Middle East & Africa (MEA), Europe, Asia Pacific (APAC), and the Americas are regions taken into consideration during the compilation of the global autoimmune disease treatment market report.
The Americas are touted to dominate in the leading position during the forecast period due to a large healthcare expenditure and increase in the cases of autoimmune diseases. Introduction of favorable healthcare policies such as the Affordable Care Act and efforts by the American Autoimmune Related Diseases Association (AARDA) are likely to culminate in high dividends for the autoimmune disease treatment market from the region.
Europe is the second largest region with the biggest potential for the global market. Factors such as healthcare policies, introduction of autoimmune diagnostic techniques, and allocation of sufficient funds by governments can drive the regional demand.
The APAC region is expected to exhibit a robust growth rate during the forecast period due to the healthcare budget being elevated in several countries. The large patient pool as well as the rising number of medicines being developed at pharmaceutical companies can contribute to the market revenue.
The MEA autoimmune disease treatment market possesses the lowest potential for returns due to poor healthcare infrastructure and lack of technical experts.
Johnson & Johnson Inc., Danaher, Siemens, Bio-Rad, Merck & Co. Inc., Genentech Inc., Biogen Idec Inc., F. Hoffmann-La Roche AG, Eli Lilly and Company, Thermo Fisher Scientific, Abbott Laboratories, HYCOR Biomedical, Squibb Company, Bayer Schering Pharma AG, Elan Corporation Plc, GlaxoSmithKline Plc, Chugai Pharmaceutical Co. Ltd., Amgen Inc., and others are major players in the global autoimmune disease treatment market.
Clinical trials are being conducted for expediting the drug development for various autoimmune disorders. To this effect, Michigan Medicine, a branch of the University of Michigan was granted close to USD 10.2 million by the Autoimmunity Centers of Excellence for exploring the potential of autoimmune disease treatments. Drugs to be tested include tofacitinib and elotuzumab.
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