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Strategic Analysis of the Autoimmune Disease Diagnostics Market in Europe
Frost & Sullivan, Nov 2004
Autoimmune Testing Market Becomes the New Source of Growth for In Vitro Diagnostics Companies
Due to stagnating revenue growth and reimbursement pressures, in vitro diagnostics (IVD) companies are looking at penetrating new niches such as autoimmune disease testing markets. The high double digit growth rate in the segment for autoimmune diseases tests other than thyroid and rheumatoid arthritis is driving the autoimmune testing market in Europe. The variety of potential therapies for autoimmune diseases is expected to expand rapidly in the next decade based on the efforts of leading pharmaceutical companies. Meanwhile, the awareness about and demand for autoimmune diagnostics are also likely to improve significantly.
This strategic analysis service provides an overview and outlook for the European autoimmune disease diagnostics market. The study has been segmented into rheumatoid, thyroid and other autoimmune diseases. The analysis includes company profiles, technical challenges and growth recommendations to improve revenue and market share. This study enables companies to align their positioning strategies to benefit from the changing markets and obtain maximum return on investment.
An Ageing Population Creates Greater Market Opportunities for Participants
The European population is slowly ageing with almost 17 per cent of the people in all EU countries aged 65 years and above. This sizeable potential end-user market and its growing desire to be healthy and active is expected to drive this market. The trend towards integrated healthcare and a gradual shift to ‘proactive’ testing rather ‘reactive’ diagnosis is likely to benefit this market in long term.
A team of researchers has discovered a genetic variation - single nucleotide polymorphism (SNP) - that doubles the risk for rheumatoid arthritis. The variation is present in about 28 per cent of individuals with rheumatoid arthritis and 17 per cent of the general population, creating a vast market for the autoimmune disease diagnostics market, notes the analyst of this research.
Market Poised for Exponential Growth
The total European autoimmune disease diagnostics market was worth $440 million in 2004 and is all set for a sizeable growth to reach almost $700.0 million by 2011. One of the prime causes for this considerable growth has been the increasing government spending on healthcare, which is fuelling the growing demand for better healthcare services.
Key initiatives by the respective governments in preventing diseases are also expected to have a positive effect on the growth rate of the European autoimmune disease diagnostics market, says the analyst.
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