Friday, 9 November 2018

Autoimmune Disease Treatment Market Trends, Analysis and Review during 2018 To 2023

Market Scenario:
An autoimmune disease is a condition in which body's immune system destroys its own body tissue. There are more than 80 different type of autoimmune disorders but the most common are multiple sclerosis, IBD, diabetes, rheumatoid arthritis, psoriasis, and others. Autoimmune disease may result in abnormal growth of an organ, the destruction of body tissue, and changes in organ function
According to the National Institutes of Health (NIH), around 23.5 million Americans are suffering from autoimmune disease. NIH has also estimated that the annual direct health care costs for autoimmune disease are near to the USD 100 billion. Whereas for cancers, and heart & strokes, the cost is around USD 57 billion, and USD 200 billion respectively.
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.
It is estimated that the autoimmune disease treatment market is expected to grow at a CAGR 11.2% during the forecast period of 2017-2023.
Intended Audience
  • Pharmaceutical Companies
  • Research and Development (R&D) Companies
  • Diagnostic Laboratories
  • Government Research Institute
  • Academic Institutes and Universities
Segmentation
The global autoimmune disease treatment market is segmented on the basis of disease type, diagnosis, therapeutic products, and distribution channels.
On the basis of the disease type, the market is classified as localized, and systemic. The localized segment is further classified into multiple sclerosis, inflammatory bowel disease, diabetes, and other. The systemic segment is further classified into rheumatoid arthritis, psoriasis, lupus, and others.
On the basis of the diagnosis, the market is classified as ELISA, dot blot, line blot, agglutination, double immune diffusion, western blotting, multiplex immunoassay, and others.
On the basis of the therapeutic products, the market is classified as drugs, and therapeutic and monitoring equipment. The drugs segment is further segmented into biologics, immunosuppressant, anti-inflammatory drugs, corticosteroids, and non-steroidal anti-inflammatory drugs.
On the basis of the distribution channel, the market is segmented into hospitals & clinics, diagnostic centers, drug stores, pharmacies, and others.
Regional Analysis
The Americas dominate the autoimmune disease treatment market owing to the rising cases of autoimmune diseases, and high healthcare expenditure. As per the data suggested by Centers for Disease Control and Prevention in 2015, the total healthcare expenditure in the U.S. was reported to be USD 3.2 trillion, whereas, hospital care accounted for a share of 32.3%.
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.
The Middle East & Africa holds the lowest market due to poor medical facilities, and lack of technical knowledge.
Key Players
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.

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