Antinuclear Antibody Testing Market to Garner Revenue of $2,766 million and CAGR of 13.0% in 2019-2027 - Exclusive Report [247 pages] by Research Dive
The antinuclear antibody testing market will grow in the coming years. The reagents & assay kits sub-segment will be the most profitable. Rheumatoid arthritis sub-segment will be the most lucrative and North American Region will rule the market.
NEW YORK, Dec. 9, 2020 /PRNewswire/ -- Research Dive has published a new report titled, 'Antinuclear Antibody Testing Market, By Product (Reagents & Assay Kits, Systems And Software & Services), Technique (ELISA, Immunofluorescence Assay And Multiplex Assay), Application (Rheumatoid Arthritis, Systemic Lupus Erythematosus, Sjogren's Syndrome, Scleroderma And Others), End Use (Hospitals, Clinical Laboratories, Physician Office Laboratories And Others), Regional Outlook (North America, Europe, Asia-Pacific, And LAMEA): Global Opportunity Analysis And Industry Forecast, 2019–2027.'
According to the report published by Research Dive, the Antinuclear Antibody Testing Market is anticipated to surpass $2,766.5 million by 2027, from a substantial market size of $1,080.1 million in 2019, with CAGR of 13.0% during the predicted forecast timeframe.
Regional Analysis
North America region to rule the market and this region was accounted for $392.3 million in 2019 and is projected to escalate with significant CAGR of $11.9% in the analyzed timeframe. Rise in prevalence of autoimmune diseases in the North American region is predicted to boost the market growth. Moreover, with increase in population, autoimmune disease will automatically rise. These factors are responsible for the market growth in the forecast period.
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Key Segment Findings of the Market
The report divides the market into segments based on product, technique, application, end-use, and regional outlook.
- Reagents and Assay kits sub-segment to be the most profitable as the sub-segment is predicted to increase from market size of $642.1 million in 2019 and achieve notable CAGR of 13.6% in the forecast period. Increase in the usage of these kits for varied research and development projects in order to understand different types of diseases is anticipated to enhance the sub-segment market during the forecast period.
- ELISA sub-segment to gain maximum revenue and the sub-segment is expected to grow in the forecast period because it shows results faster than any other testing methods. The market share stood at $430.5 million in 2019 and is estimated to enhance with considerable CAGR of 13.7% during the forecast period.
- Rheumatoid arthritis sub-segment to be the most lucrative and the sub-segment is projected to escalate with a CAGR of 13.5% during the forecast period and the market size was predicted to be $752.3 million in 2019. Increase in prevalence of rheumatoid arthritis disease and surge in geriatric population is anticipated to be the major factors fueling the market growth in forecast period.
- Hospital sub-segment to garner huge profits and sub-segment was anticipated to hold market share of $452.3 million in the year 2019 and is estimated to enhance with a CAGR of 12.5% in the forecast timeframe. Major reasons for the market growth are outpatient services, patient satisfaction, and rise in home care facilities.
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Factors Affecting the Market Growth
End-users are demanding antinuclear antibody tests at high rate due to the rise in cases pertaining to autoimmune diseases. This aspect is predicted to be responsible for the growth of the antinuclear antibody market in the estimated forecast period. Moreover, government's initiatives to build awareness about medical insurances have pushed numerous people under the safety cover of health policies.
Nevertheless, the growth of the market is hindered due to strict government rules on obtaining antinuclear antibody medical devices. The stringent rules are due to concerns related to the consistency of testing devices. Furthermore, requirement of heavy investments for installing and setting up of testing devices is estimated to restrain the market growth as well. On the other hand, investments in healthcare facilities and testing kits are projected to create tremendous opportunities in the global antinuclear antibody testing market.
COVID-19 Impact on Antinuclear Antibody Testing Market
The Covid-19 pandemic is predicted to impact the antinuclear antibody testing market in a positive way and grow rapidly during the pandemic phase. The primary reason for this rise in market is due to surge in number of people opting for antinuclear antibody tests. These tests confirm the presence of autoimmune disorders in a persons' body, and hence it is necessary to detect it.
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Key Market Players and Business Strategies
Some of the significant antinuclear antibody testing market players includes
1. Bio-Rad Laboratories, Inc.
2. Erba Diagnostics
3. Trinity Biotech Plc.
4. Antibodies Incorporated
5. Thermo Fisher Scientific
6. EUROIMMUN Medizinische Labordiagnostika AG
7. Inova Diagnostics, Inc
8. Immuno Concepts NA Ltd.
9. ZEUS Scientific, Inc.
The key players are enhancing their efforts to improve product quality, launch new products, acquisitions, and product development. Apart from this, the report also summarizes various features of all the prominent players functioning in the market such as developments, financial performance, SWOT scrutiny, latest strategic moves, and product portfolio. - Inquire and Get Quick Access to Top Companies Development Strategies Summary Report [80 pages]
More about Antibody Testing:
Covid-19 Pandemic Leads to Additional Surge of the Global Antinuclear Antibody Testing Market
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