Rheumatoid Arthritis Market to Record Robust CAGR 6.2% During 2022

20/mag/2020 11:18:28 persistencemarketresearch Contatta l'autore

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Worldwide sales of rheumatoid arthritis diagnosis test kits are likely to reach ~US$ 600 Mn by the end of 2019, unveils the new research study by Persistence Market Research (PMR). According to the report, the rheumatoid arthritis diagnosis test market is estimated to grow by ~ 4% Y-O-Y by the end of 2020, primarily influenced by recent advancements in the rheumatoid arthritis diagnosis test market.

According to the report, increasing incidences of autoimmune diseases, rise in prescription of off-label nonsteroidal anti-inflammatory drugs (NSAIDs), and other pain management drugs are projected to increase the demand for rheumatoid arthritis diagnosis test kits, thus driving the growth of the rheumatoid arthritis diagnosis test market.

Get Sample Copy of Report @ https://www.persistencemarketresearch.com/samples/4788

Company Profiles:

  • Abbott Diagnostics
  • Antibodies Incorporated
  • Beckman Coulter, Inc.
  • Euro Diagnostica AB
  • Thermo Fisher Scientific Inc.
  • Qiagen NV
  • F. Hoffmann-La Roche Ltd.
  • Siemens Healthcare GmbH

Additionally, extensive focus on high sensitivity and specificity of test kits from manufacturers and favorable regulatory guidelines for rapid rheumatoid arthritis diagnostic test kits are expected to fuel the rheumatoid arthritis diagnosis test market growth.

Introduction of New Test Kits – Cost Effective Yet Reliable

Presently, there are no effective diagnostic measures available for rheumatoid arthritis. The unavailability of effective diagnostic tools has triggered the need for cost effective and more reliable rheumatoid arthritis diagnosis test kits. As a result, companies operating in the rheumatoid arthritis diagnosis test market are now focusing on the development of cost-effective and reliable test methods.

Moreover, the increasing research and development activities to develop biomarker-based rheumatoid arthritis diagnosis test methods are also expected to create new growth opportunities for manufacturers of rheumatoid arthritis diagnosis test kits, profiting the rheumatoid arthritis diagnosis test market growth.

Get To Know Methodology of Report @ https://www.persistencemarketresearch.com/methodology/4788

Off-label Prescriptions – Assisting the Market Growth

Currently, there is no effective treatment available for rheumatoid arthritis. However, physicians usually prescribe anti–inflammatory drugs as an off label treatment, which help in reducing joint inflammation among patients suffering from rheumatoid arthritis.

Such increased level of off-label prescription by physicians has been leading to the rise in demand for rheumatoid arthritis treatment efficacy monitoring test kits and rheumatoid arthritis diagnosis test kits, globally.

This requires continuous monitoring, which could be conducted through various testing methods such as Salicylate Level Count, Muscle Enzyme Tests (CPK, Aldolase), and Creatinine Test. Thus the increasing level of off-label prescription for rheumatoid arthritis is anticipated to support the growth of the rheumatoid arthritis diagnosis test market in the forecast period.

Strong Presence of Local Manufacturers Shaping the Market

The rheumatoid arthritis diagnostic test kits market is being strongly dominated by local companies. Anti-body detection test kits and serology test kits are manufactured at low cost and do not require economies of scale for profitability.

Hence, local manufacturers have lower entry barriers to enter the rheumatoid arthritis diagnosis test kits market. Such low entry barriers provide a competitive advantage to local manufactures of rheumatoid arthritis diagnosis test kits.

Local manufactures thus continue to impose strong competition to global players especially in Asian countries. Thus, the presence of local manufacturers is expected to positively shape the rheumatoid arthritis diagnosis test market.

Access Full Report @ https://www.persistencemarketresearch.com/checkout/4788

Limited Specificity and Sensitivity – Still a Challenge

Test kits available in the market have limited specificity and sensitivity towards rheumatoid arthritis, which is a major factor restraining the growth of the rheumatoid arthritis diagnosis test market currently.

The conventional test methods such as ESR and RF test, have less specificity and sensitivity. Novel diagnostic test kits such as Anti–cyclic citrullinated peptide (anti–CCP) are providing test results with high specificity and sensitivity.

However, due to their high costs, adoption of these tests is a major challenge.  Thus these factors are hampering the overall growth of the rheumatoid arthritis diagnosis test market.

Report Highlights:

  • Shifting Industry dynamics
  • In-depth market segmentation
  • Historical, current and projected industry size Recent industry trends
  • Key Competition landscape
  • Strategies of key players and product offerings
  • Potential and niche segments/regions exhibiting promising growth
  • A neutral perspective towards market performance

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About us:

Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.

To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.

Our client success stories feature a range of clients from Fortune 500 companies to fast-growing startups. PMR’s collaborative environment is committed to building industry-specific solutions by transforming data from multiple streams into a strategic asset.

Contact us:

Ashish Kolte
Persistence Market Research
Address – 305 Broadway, 7th FloorNew York City,
NY 10007 United States
U.S. Ph. – +1-646-568-7751
USA-Canada Toll-free – +1 800-961-0353
Sales – sales@persistencemarketresearch.com
Website – https://www.persistencemarketresearch.com

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